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Segment Information
 3 Months Ended
Sep. 30, 2015
Segment Information  
Segment Information

 

9. Segment Information

 

The Company has determined that it operates in three identifiable industry segments: (a) security and inspection systems (Security division), (b) medical monitoring and anesthesia systems (Healthcare division) and (c) optoelectronic devices and manufacturing (Optoelectronics and Manufacturing division). The Company also has a corporate segment (Corporate) that includes executive compensation and certain other general and administrative expenses, expenses related to stock issuances and legal, audit and other professional service fees not allocated to product segments. Both the Security and Healthcare divisions comprise primarily end-user businesses, while the Optoelectronics and Manufacturing division primarily supplies components and subsystems to original equipment manufacturers, including to the Security and Healthcare divisions. Sales between divisions are at transfer prices that approximate market values.  All other accounting policies of the segments are the same as described in Note 1, Summary of Significant Accounting Policies of the Form 10-K for the fiscal year ended June 30, 2015.

 

The following tables present the operations and identifiable assets by industry segment (in thousands):

 

 

 

Three Months Ended September 30,

 

 

 

2014

 

2015

 

Revenues (1) — by Segment:

 

 

 

 

 

Security division

 

$
113,439

 

$
96,410

 

Healthcare division

 
47,834

 
51,465

 

Optoelectronics and Manufacturing division, including intersegment revenues

 
69,086

 
62,548

 

Intersegment revenues elimination

 
(11,962

)
(10,373

)

 

 

 

 

 

 

Total

 

$
218,397

 

$
200,050

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

 

 

2014

 

2015

 

Operating income (loss) — by Segment:

 

 

 

 

 

Security division

 

$
17,259

 

$
12,635

 

Healthcare division

 
62

 
2,938

 

Optoelectronics and Manufacturing division

 
4,327

 
5,561

 

Corporate

 
(4,517

)
(5,202

)

Eliminations (2) 

 
(467

)
(235

)

 

 

 

 

 

 

Total

 

$
16,664

 

$
15,697

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

September 30,

 

 

 

2015

 

2015

 

Assets (1) — by Segment:

 

 

 

 

 

Security division

 

$
470,808

 

$
515,088

 

Healthcare division

 
223,412

 
205,441

 

Optoelectronics and Manufacturing division

 
164,922

 
164,756

 

Corporate

 
125,174

 
133,716

 

Eliminations (2) 

 
(4,642

)
(4,177

)

 

 

 

 

 

 

Total

 

$
979,674

 

$
1,014,824

 

 

 

 

 

 

 

 

 

 

(1)

For each of the three months ended September 30, 2014 and 2015, one customer, Servicio de Administración Tributaria in Mexico, accounted for 15% of total net revenues. No customer accounted for greater than 10% of accounts receivable as of September 30, 2015.

 

(2)

Eliminations within operating income primarily reflect the change in the elimination of intercompany profit in inventory not-yet-realized. Eliminations in assets reflect the amount of intercompany profits in inventory as of the balance sheet date. Such intercompany profit will be realized when inventory is shipped to the external customers of the Security and Healthcare divisions.