XML 21 R14.htm IDEA: XBRL DOCUMENT v3.24.3
Segment Information and Geographic Data
 3 Months Ended
Aug. 31, 2024
Segment Information and Geographic Data

4. SEGMENT INFORMATION AND GEOGRAPHIC DATA

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 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 biosecurity products to assist in the control of rodents, insects and disease in and around agricultural, food production and other facilities.

Many of our international operations 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 the Company’s complete line of products and services, including those usually associated with the Animal Safety segment such as cleaners, biosecurity products, 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.

Segment information follows:

 

 

Food
Safety

 

 

Animal
Safety

 

 

Corporate and
Eliminations (1)

 

 

Total

 

As of and during the three months ended August 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Product revenues to external customers

 

$

150,777

 

 

$

41,741

 

 

$

—

 

 

$

192,518

 

Service revenues to external customers

 

 

8,568

 

 

 

15,878

 

 

 

—

 

 

 

24,446

 

Total revenues to external customers

 

$

159,345

 

 

$

57,619

 

 

$

—

 

 

$

216,964

 

Operating income (loss)

 

$

17,905

 

 

$

2,589

 

 

$

(18,237

)

 

$

2,257

 

Total assets

 

$

4,056,444

 

 

$

342,077

 

 

$

104,652

 

 

$

4,503,173

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of and during the three months ended August 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Product revenues to external customers

 

$

158,947

 

 

$

45,454

 

 

$

—

 

 

$

204,401

 

Service revenues to external customers

 

 

7,331

 

 

 

17,255

 

 

 

—

 

 

 

24,586

 

Total revenues to external customers

 

$

166,278

 

 

$

62,709

 

 

$

—

 

 

$

228,987

 

Operating income (loss)

 

$

22,241

 

 

$

8,356

 

 

$

(11,462

)

 

$

19,135

 

Total assets

 

$

3,983,553

 

 

$

338,297

 

 

$

239,255

 

 

$

4,561,105

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

The following table presents the Company’s revenue disaggregated by geographic location:

 

 

Three months ended August 31,

 

 

 

2024

 

 

2023

 

Domestic

 

$

104,383

 

 

$

111,068

 

International

 

 

112,581

 

 

 

117,919

 

Total revenue

 

$

216,964

 

 

$

228,987