Segment Information

9 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

14. Segment Information

The Company’s management evaluates performance and allocates resources based on reported results for two reportable segments, as follows: (1) the Medical Device unit, which designs, develops and manufactures interventional medical devices, primarily for the peripheral vascular market; surface modification coating technologies to improve access, deliverability, and predictable deployment of medical devices; as well as drug-delivery coating technologies to provide site-specific drug-delivery from the surface of a medical device, with end markets that include coronary, peripheral, neuro-vascular and urology, among others, and (2) the In Vitro Diagnostics unit, which consists of component products and technologies for diagnostic test kits and biomedical research applications, with products that include protein stabilization reagents, substrates, antigens and surface coatings.

Segment revenue, operating income, and depreciation and amortization were as follows:

	Three Months Ended						Nine Months Ended
	June 30,						June 30,
(Dollars in thousands)	2020			2019			2020			2019
Revenue:
Medical Device	$	20,514		$	18,945		$	54,222		$	53,504
In Vitro Diagnostics		6,369			5,399			18,099			15,757
Total revenue	$	26,883		$	24,344		$	72,321		$	69,261
Operating income:
Medical Device	$	532		$	753		$	(1,344	)	$	1,087
In Vitro Diagnostics		3,254			2,475			9,315			7,845
Total segment operating income		3,786			3,228			7,971			8,932
Corporate		(2,622	)		(2,211	)		(7,229	)		(6,338	)
Total operating income	$	1,164		$	1,017		$	742		$	2,594
Depreciation and amortization:
Medical Device	$	1,424		$	1,481		$	4,318		$	4,315
In Vitro Diagnostics		112			120			331			353
Corporate		254			286			741			794
Total depreciation and amortization	$	1,790		$	1,887		$	5,390		$	5,462

The Corporate category includes expenses that are not fully allocated to Medical Device and In Vitro Diagnostics segments. These Corporate costs are related to functions, such as executive management, corporate accounting, legal, human resources and Board of Directors. Corporate may also include expenses which are not specific to a segment and thus not allocated to the operating segments.

Asset information by operating segment is not presented because the Company does not provide its chief operating decision maker assets by operating segment, as the data is not readily available or significant to the decision-making process.