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Segment Information

9 Months Ended

Mar. 31, 2020

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 March 31,				Nine Months Ended March 31,
	2019		2020		2019		2020
Revenues (1) —by Segment:
Security division	$	193,486	$	187,076	$	552,130	$	578,477
Healthcare division		48,865		45,662		138,697		127,862
Optoelectronics and Manufacturing division, including intersegment revenues		70,927		70,240		213,900		216,684
Intersegment revenues elimination		(8,994)		(10,095)		(30,989)		(33,946)
Total	$	304,284	$	292,883	$	873,738	$	889,077

Income (loss) from operations —by Segment:
Security division	$	24,943	$	24,525	$	74,056	$	73,405
Healthcare division		5,418		1,682		5,752		5,793
Optoelectronics and Manufacturing division		7,320		7,309		22,212		25,096
Corporate		(5,354)		(10,161)		(21,265)		(23,578)
Eliminations		(207)		270		(671)		715
Total	$	32,120	$	23,625	$	80,084	$	81,431


	June 30,		March 31,
	2019		2020
Assets (2) —by Segment:
Security division	$	793,810	$	784,736
Healthcare division		157,639		199,645
Optoelectronics and Manufacturing division		237,851		241,824
Corporate		79,498		101,419
Eliminations (3)		(3,934)		(41,030)
Total	$	1,264,864	$	1,286,594

(1)For each of the three and nine month periods ended March 31, 2019 and March 31, 2020, no customer accounted for greater than 10% of total net revenues.

(2)One customer accounted for 16% of accounts receivable, net as of March 31, 2020. No customer accounted for 10% or more of accounts receivable, net as of June 30, 2019.

(3)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.