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Operating Segments | 12 Months Ended
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Sep. 30, 2012
Operating Segments [Abstract] |
Operating Segments |
11. | Operating Segments
Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker who is the Company’s Chief Executive Officer, in deciding how to allocate resources and in assessing performance. On November 17, 2011, the Company completed its sale of SurModics Pharmaceuticals. Accordingly, beginning in the first quarter of fiscal 2012, all results of operations, cash flows, assets and liabilities of SurModics Pharmaceuticals for all periods presented are classified as discontinued operations. Following the sale of SurModics Pharmaceuticals which was previously reported as a separate operating segment, the Company is now organized into two segments, as follows: (1) the Medical Device unit, which is comprised of surface modification coating technologies to improve access, deliverability, and predictable deployment of medical devices, as well as drug delivery coating technologies to provide site-specific drug delivery from the surface of a medical device, with end markets that include coronary, peripheral, and neuro-vascular, and urology, among others, and (2) the In Vitro Diagnostics unit, which consists of component products and technologies for diagnostic test kits and biomedical research applications, with products that include protein stabilization reagents, substrates, antigens and surface coatings. The tables below present segment revenue, operating income from continuing operations and depreciation and amortization, for the years ended September 30, as follows (in thousands):
|  | 2012 |  |  | 2011 |  |  | 2010 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Medical Device |  | $ | 37,883 |  |  | $ | 39,606 |  |  | $ | 43,294 |
In Vitro Diagnostics |  |  | 14,045 |  |  |  | 13,150 |  |  |  | 11,194 |
Total revenue |  | $ | 51,928 |  |  | $ | 52,756 |  |  | $ | 54,488 |
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Medical Device |  | $ | 18,431 |  |  | $ | 19,997 |  |  | $ | 19,461 |
In Vitro Diagnostics |  |  | 4,542 |  |  |  | 4,314 |  |  |  | 3,296 |
Corporate |  |  | (6,631 | ) |  |  | (8,788 | ) |  |  | (10,766 | )
Total operating income from continuing operations |  | $ | 16,342 |  |  | $ | 15,523 |  |  | $ | 11,991 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Medical Device |  | $ | 1,414 |  |  | $ | 1,604 |  |  | $ | 2,136 |
In Vitro Diagnostics |  |  | 774 |  |  |  | 799 |  |  |  | 828 |
Corporate |  |  | 741 |  |  |  | 756 |  |  |  | 656 |
Total depreciation and amortization |  | $ | 2,929 |  |  | $ | 3,159 |  |  | $ | 3,620 |
Segment results above for fiscal 2012 include costs of $0.5 million in Corporate associated with the “modified Dutch auction” tender offer. Segment results above for fiscal 2011 include restructuring charges of $1.6 million in Corporate. There were no restructuring charges for the year ended September 30, 2012. Segment results above for fiscal 2010 include restructuring charges of $1.2 million and asset impairment charges of $3.0 million in Corporate. The Corporate category includes expenses for administrative corporate functions, such as executive, corporate accounting, legal, human resources and Board related, that have not been fully allocated to the Medical Device and In Vitro Diagnostics segments. Corporate also includes one-time charges, such as restructuring costs, which are not specific to a segment. Asset information by segment is not presented because the Company does not provide its chief operating decision maker assets by segment, as the data is not readily available. Major Customers Revenue from customers that equaled or exceeded 10% of total revenue was as follows for the years ended September 30:
|  | 2012 |  |  | 2011 |  |  | 2010 |
Medtronic |  |  | 19 | % |  |  | 18 | % |  |  | 16 | %
Johnson & Johnson |  |  | ** |  |  |  | 16 | % |  |  | 22 | %
** | -less than 10%
The revenue from the customers listed is derived from all three primary sources: licensing, product sales, and research and development. Geographic Revenue Geographic revenue was as follows for the years ended September 30:
|  | 2012 |  |  | 2011 |  |  | 2010 |
Domestic |  |  | 79 | % |  |  | 73 | % |  |  | 79 | %
Foreign |  |  | 21 | % |  |  | 27 | % |  |  | 21 | %

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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