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Segment Information

3 Months Ended

Sep. 30, 2019

11. Segment Information

We have determined that we operate in three identifiable industry segments: (a) security and inspection systems (Security division), (b) medical monitoring and diagnostic cardiology systems (Healthcare division) and (c) optoelectronic devices and manufacturing (Optoelectronics and Manufacturing division). We also have 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 industry segments. Both the Security and Healthcare divisions comprise primarily end-product businesses whereas the Optoelectronics and Manufacturing division primarily supplies components and subsystems to external OEM customers, as well as 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, 2019.

The following tables set forth the results of operations and identifiable assets by industry segment (in thousands):


	Three Months Ended September 30,
	2018		2019
Revenues (1)—by Segment:
Security division	$	169,960	$	188,964
Healthcare division		38,273		40,208
Optoelectronics and Manufacturing division, including intersegment revenues		70,954		73,638
Intersegment revenues elimination		(12,938)		(11,958)
Total	$	266,249	$	290,852

Income (Loss) from Operations—by Segment:
Security division	$	23,050	$	20,318
Healthcare division		(1,875)		2,817
Optoelectronics and Manufacturing division		6,825		8,769
Corporate		(11,351)		(7,337)
Eliminations (2)		(392)		320
Total	$	16,257	$	24,887


	June 30,		September 30,
	2019		2019
Assets—by Segment:
Security division	$	793,810	$	803,388
Healthcare division		157,639		193,342
Optoelectronics and Manufacturing division		237,851		238,883
Corporate		79,498		97,202
Eliminations (2)		(3,934)		(42,713)
Total	$	1,264,864	$	1,290,102

(1)For each of the three month periods ended September 30, 2018 and September 30, 2019, no customer accounted for greater than 10% of total net revenues.

(2)Eliminations within operating income primarily reflect the change in the elimination of intercompany profit in inventory not-yet-realized and intercompany operating lease expense under ASC 842. Eliminations in assets reflect the amount of intercompany profits in inventory and intercompany ROU assets under ASC 842 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.