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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

Investments in Debt Securities

Investments in debt securities consisted of the following at December 31, 2016 (in thousands):

		Amortized Cost				Gross Unrealized Gain				Gross Unrealized Loss				Fair Value
Marketable securities:
U.S. Government and agency securities		$	807			$	—			$	—			$	807
Corporate and other debt securities			18,745				2				(7	)			18,740
Total		$	19,552			$	2			$	(7	)		$	19,547

RollForward of Fair Value of Contingent Consideration

The following table provides a rollforward of the fair value of contingent consideration (in thousands):

Balance at December 31, 2016		$	6,119
Payments			(6,119	)
Balance at December 31, 2017		$	—

Schedule of Inventories

Inventories consist of the following (in thousands):

		December 31, 2017				December 31, 2016
Raw Materials		$	22,351			$	14,954
Work-in-process			4,083				2,789
Finished products			12,570				6,953
Total		$	39,004			$	24,696

Reconciliation of Basic and Diluted Shares Amounts

A reconciliation of basic and diluted share amounts is as follows:

		Years ended December 31,
		2017				2016				2015
Numerator:
Net income		$	28,353,000			$	11,681,000			$	9,345,000
Denominator:
Basic weighted average common shares outstanding			38,233,527				33,572,883				32,881,940
Effect of dilutive securities:
Stock options and restricted stock awards			441,924				526,015				695,151
Convertible senior notes			474,923				—				—
Diluted weighted average common shares outstanding			39,150,374				34,098,898				33,577,091
Basic net income per common share		$	0.74			$	0.35			$	0.28
Diluted net income per common share		$	0.72			$	0.34			$	0.28

Summary of Product Revenues by Product Line

The following table represents product revenues by product line (in thousands):

		December 31, 2017				December 31, 2016				December 31, 2015
Protein products		$	53,969			$	54,716			$	52,938
Filtration products			49,050	(3)			19,774	(1)			15,676
Chromatography products			36,309	(3)			29,520	(2)			14,613
Other			1,761	(3)			431				310
Total product revenues		$	141,089			$	104,441			$	83,537

(1) 2016 revenue for filtration products includes revenue related to TangenX from December 14, 2016 through December 31, 2016.

(2) 2016 revenue for chromatography products includes revenue related to Atoll from April 1, 2016 through December 31, 2016.

(3) 2017 revenue for filtration, chromatography and other products includes revenue related to Spectrum from August 1, 2017 through December 31, 2017.

Total Assets by Geographic Area

The following table represents the Company’s total assets by geographic area (in thousands):

		December 31, 2017				December 31, 2016
United States		$	654,673			$	209,728
Europe			85,169				79,145
Asia			3,677				40
Total		$	743,519			$	288,913

Long Lived Assets by Geographic Area

The following table represents the Company’s long-lived assets by geographic area (in thousands):

		December 31, 2017				December 31, 2016
United States		$	465,453			$	77,039
Europe			34,430				27,721
Asia			854				—
Total		$	500,737			$	104,760

Percentage of Revenue from Significant Customers

Revenue from significant customers as a percentage of the Company’s total revenue is as follows:

		Years ended December 31,
		2017				2016				2015
GE Healthcare			21	%			29	%			37	%
MilliporeSigma			18	%			28	%			29	%

Intangible assets

Intangible assets consisted of the following at December 31, 2017 (in thousands):

		Gross Carrying Amount				Accumulated Amortization				Weighted Average Useful Life (in years)
Technology – developed		$	51,801			$	(3,201	)			19
Patents			240				(238	)			8
Customer relationships			102,120				(9,636	)			14
Trademarks – definite lived			2,160				(47	)			20
Trademarks – indefinite lived			700				—				—
Other intangibles			1,063				(209	)			3
Total intangible assets		$	158,084			$	(13,331	)			16

Intangible assets consisted of the following at December 31, 2016 (in thousands):

		Gross Carrying Amount				Accumulated Amortization				Weighted Average Useful Life (in years)
Technology – developed		$	12,911			$	(1,468	)			17
Patents			240				(208	)			8
Customer relationships			22,555				(4,995	)			11
Trademark/ tradename			711				—				—
Other intangibles			84				(24	)			2
Total intangible assets		$	36,501			$	(6,695	)			13

Schedule of Amortization Expense for Amortized Intangible Assets

As of December 31, 2017, the Company expects to record the following amortization expense (in thousands):

Year Ending		Amortization Expense
December 31, 2018		$	10,633
December 31, 2019			10,578
December 31, 2020			9,894
December 31, 2021			9,376
December 31, 2022			9,374

Total Revenue

Percentage by Geographic Area or Significant Customers

The following table represents the Company’s total revenue by geographic area (based on the location of the customer):

		Years ended December 31,
		2017				2016				2015
United States			43	%			39	%			28	%
Sweden			20	%			29	%			37	%
United Kingdom			4	%			7	%			17	%
Other			33	%			25	%			18	%
Total			100	%			100	%			100	%

Accounts Receivable

Percentage by Geographic Area or Significant Customers

Significant accounts receivable balances as a percentage of the Company’s total trade accounts receivable and royalties and other receivable balances are as follows:

		December 31, 2017				December 31, 2016
GE Healthcare			11	%			26	%
MilliporeSigma			19	%			8	%

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