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Segment Information
 9 Months Ended
Feb. 28, 2017
Segment Information

4. SEGMENT INFORMATION

The Company has two reportable segments: Food Safety and Animal Safety. The Food Safety segment is primarily engaged in the development, production and marketing of diagnostic test kits, dehydrated culture media and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation. The Animal Safety segment is primarily engaged in the development, production and marketing of products dedicated to animal safety, including a complete line of consumable products marketed to veterinarians and animal health product distributors; this segment also provides genomic identification and related interpretive bioinformatic services. Additionally, the Animal Safety segment produces and markets rodenticides, disinfectants and insecticides to assist in the control of rodents, insects and disease in and around agricultural, food production and other facilities.

These segments are managed separately because they represent strategic business units that offer different products and require different marketing strategies. The Company evaluates performance based on total sales and operating income of the respective segments.

Segment information follows:

 

     Food
Safety		      Animal
Safety		      Corporate and
Eliminations
(1)		      Total  
     (in thousands)  

As of and for the three months ended February 28, 2017

 

         

Product revenues to external customers

    $ 39,318      $ 34,646      $ —        $ 73,964  

Service revenues to external customers

      3,631        10,790        —          14,421  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total revenues to external customers

      42,949        45,436        —          88,385  

Operating income (loss)

      7,403        7,743        (795 )       14,351  

Total assets

      183,419        215,243        108,636        507,298  

As of and for the three months ended February 29, 2016

 

         

Product revenues to external customers

    $ 31,975      $ 32,402      $ —        $ 64,377  

Service revenues to external customers

      2,735        9,613        —          12,348  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total revenues to external customers

      34,710        42,015        —          76,725  

Operating income (loss)

      6,091        6,172        (1,009 )       11,254  

Total assets

      130,077        189,191        112,973        432,241  

 

     Food
Safety		      Animal
Safety		      Corporate and
Eliminations
(1)		      Total  
     (in thousands)  

For the nine months ended February 28, 2017

            

Product revenues to external customers

    $ 112,592      $ 110,578      $ —        $ 223,170  

Service revenues to external customers

      10,475        29,102        —          39,577  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total revenues to external customers

      123,067        139,680        —          262,747  

Operating income (loss)

      24,286        24,616        (2,957 )       45,945  

For the nine months ended February 29, 2016

            

Product revenues to external customers

    $ 98,708      $ 99,423      $ —        $ 198,131  

Service revenues to external customers

      7,998        25,067        —          33,065  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total revenues to external customers

      106,706        124,490        —          231,196  

Operating income (loss)

      22,216        21,328        (2,783 )       40,761  

 

(1) Includes corporate assets, consisting principally of cash and cash equivalents, marketable securities, current and deferred tax accounts and overhead expenses not allocated to specific business segments. Also includes the elimination of intersegment transactions.