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Segment Information and Geographical Data | 6 Months Ended
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Nov. 30, 2018
Segment Information and Geographical Data | 4. SEGMENT INFORMATION AND GEOGRAPHIC DATA We have 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, 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. Our international operations in the United Kingdom, Mexico, Brazil, China and India originally focused on the Company’s Food Safety products, and each of these units reports through the Food Safety segment. In recent years, these operations have expanded to offer our complete line of products and services, including those usually associated with the Animal Safety segment such as cleaners, disinfectants, rodenticides, insecticides, veterinary instruments and genomics services. These additional products and services are managed and directed by existing management and are reported through the Food Safety segment. The accounting policies of each of the segments are the same as those described in Note 1. Segment information follows:
|  | Food Safety |  |  | Animal Safety |  |  | Corporate and Eliminations (1) |  |  | Total |
|  | (in thousands) |
As of and for the three months ended November 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues to external customers |  | $ | 48,256 |  |  | $ | 41,306 |  |  | $ | — |  |  | $ | 89,562 |
Service revenues to external customers |  |  | 5,494 |  |  |  | 12,042 |  |  |  | — |  |  |  | 17,536 |
Total revenues to external customers |  |  | 53,750 |  |  |  | 53,348 |  |  |  | — |  |  |  | 107,098 |
Operating income (loss) |  |  | 10,342 |  |  |  | 9,057 |  |  |  | (1,153 | ) |  |  | 18,246 |
Total assets |  |  | 201,291 |  |  |  | 218,231 |  |  |  | 240,970 |  |  |  | 660,492 |
As of and for the three months ended November 30, 2017—Revised (2) |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues to external customers |  | $ | 44,367 |  |  | $ | 40,104 |  |  | $ | — |  |  | $ | 84,471 |
Service revenues to external customers |  |  | 4,839 |  |  |  | 11,388 |  |  |  | — |  |  |  | 16,227 |
Total revenues to external customers |  |  | 49,206 |  |  |  | 51,492 |  |  |  | — |  |  |  | 100,698 |
Operating income (loss) |  |  | 8,668 |  |  |  | 10,529 |  |  |  | (1,199 | ) |  |  | 17,998 |
Total assets |  |  | 175,836 |  |  |  | 215,099 |  |  |  | 190,093 |  |  |  | 581,028 |
(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.
(2) | Segment revenues for the three months ended November 30, 2017 have been revised as discussed in Note 1. For the three months ended November 30, 2017, product revenues were reduced by $354,000 in the Food Safety segment and $765,000 in the Animal Safety segment; service revenues were unchanged in the Food Safety segment and in the Animal Safety segment.
|  | Food Safety |  |  | Animal Safety |  |  | Corporate and Eliminations (1) |  |  | Total |
|  | (in thousands) |
For the six months ended November 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues to external customers |  | $ | 95,189 |  |  | $ | 77,333 |  |  | $ | — |  |  | $ | 172,522 |
Service revenues to external customers |  |  | 10,744 |  |  |  | 23,458 |  |  |  | — |  |  |  | 34,202 |
Total revenues to external customers |  |  | 105,933 |  |  |  | 100,791 |  |  |  | — |  |  |  | 206,724 |
Operating income (loss) |  |  | 21,215 |  |  |  | 15,763 |  |  |  | (2,253 | ) |  |  | 34,725 |
For the six months ended November 30, 2017—Revised (2) |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues to external customers |  | $ | 86,206 |  |  | $ | 77,810 |  |  | $ | — |  |  | $ | 164,016 |
Service revenues to external customers |  |  | 9,291 |  |  |  | 21,600 |  |  |  | — |  |  |  | 30,891 |
Total revenues to external customers |  |  | 95,497 |  |  |  | 99,410 |  |  |  | — |  |  |  | 194,907 |
Operating income (loss) |  |  | 17,446 |  |  |  | 19,198 |  |  |  | (2,222 | ) |  |  | 34,422 |
(1) | Includes the elimination of intersegment transactions.
(2) | Segment revenues for the six months ended November 30, 2017 have been revised as discussed in Note 1. For the six months ended November 30, 2017, product revenues were reduced by $798,000 in the Food Safety segment and $1,343,000 in the Animal Safety segment; service revenues were unchanged in the Food Safety segment and reduced by $25,000 in the Animal Safety segment.
The following table presents the Company’s revenue disaggregated by geographic location:
|  | Three Months ended |  |  | Six Months Ended |
|  | November 30, |  |  | November 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | (in thousands) |  |  | (in thousands) |
Revenues by Geographic Location |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  | $ | 65,033 |  |  | $ | 62,452 |  |  | $ | 124,879 |  |  | $ | 122,588 |
International |  |  | 42,065 |  |  |  | 38,246 |  |  |  | 81,845 |  |  |  | 72,319 |
Total revenue |  |  | 107,098 |  |  |  | 100,698 |  |  |  | 206,724 |  |  |  | 194,907 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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