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v3.19.3

Summary of Significant Accounting Policies and Select Balance Sheet Information (Tables) | 12 Months Ended
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Sep. 30, 2019
Accounting Policies [Abstract] |
Amortized Cost, Unrealized Holding Gains (Losses) and Fair Value of Available for Sale Securities | The amortized cost, unrealized holding gains and losses, and fair value of available-for-sale securities as of September 30, 2019 and 2018 were as follows (in thousands):
|  | September 30, 2019 |
(Dollars in thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
Commercial paper and corporate bonds |  | $ | 24,918 |  |  | $ | 13 |  |  | $ | — |  |  | $ | 24,931 |
Total |  | $ | 24,918 |  |  | $ | 13 |  |  | $ | — |  |  | $ | 24,931 |
|  | September 30, 2018 |
(Dollars in thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
Commercial paper and corporate bonds |  | $ | 41,403 |  |  | $ | — |  |  | $ | (51 | ) |  | $ | 41,352 |
Total |  | $ | 41,403 |  |  | $ | — |  |  | $ | (51 | ) |  | $ | 41,352 |
Components of Inventories | Inventories consisted of the following components as of September 30 (in thousands):
|  | 2019 |  |  | 2018 |
Raw materials |  | $ | 2,034 |  |  | $ | 1,890 |
Work in-process |  |  | 892 |  |  |  | 780 |
Finished products |  |  | 1,575 |  |  |  | 1,346 |
Total |  | $ | 4,501 |  |  | $ | 4,016 |
Schedule of Property, Plant and Equipment | Property and equipment consisted of the following components as of September 30 (in thousands):
|  | Useful Life |  | 2019 |  |  | 2018 |
|  | (In years) |  |  |  |  |  |  |  |
Land |  | N/A |  | $ | 4,415 |  |  | $ | 4,420 |
Laboratory fixtures and equipment |  | 3 to 10 |  |  | 25,467 |  |  |  | 22,024 |
Buildings and improvements |  | 3 to 20 |  |  | 24,513 |  |  |  | 21,717 |
Leasehold improvements |  | 10 |  |  | 4,836 |  |  |  | 4,836 |
Office furniture and equipment |  | 3 to 10 |  |  | 6,476 |  |  |  | 5,824 |
Construction-in-progress |  |  |  |  | 2,030 |  |  |  | 4,834 |
Less accumulated depreciation |  |  |  |  | (37,989 | ) |  |  | (33,512 | )
Property and equipment, net |  |  |  | $ | 29,748 |  |  | $ | 30,143 |
Summary of Other Assets | Other assets consist principally of the following as of September 30 (in thousands):
|  | 2019 |  |  | 2018 |
ViaCyte, Inc. |  | $ | 479 |  |  | $ | 479 |
Other noncurrent assets |  |  | 1,645 |  |  |  | 967 |
Other assets, net |  | $ | 2,124 |  |  | $ | 1,446 |
Schedule of Intangible Assets | Intangible assets consisted of the following as of September 30 (in thousands):
|  | 2019 |
|  | Weighted Average Original Life (Years) |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer lists and relationships |  |  | 8.9 |  |  | $ | 17,374 |  |  | $ | (10,661 | ) |  | $ | 6,713 |
Developed technology |  |  | 11.5 |  |  |  | 9,490 |  |  |  | (3,196 | ) |  |  | 6,294 |
Non-compete |  |  | 5.0 |  |  |  | 230 |  |  |  | (196 | ) |  |  | 34 |
Patents and other |  |  | 16.5 |  |  |  | 2,321 |  |  |  | (1,716 | ) |  |  | 605 |
Subtotal |  |  |  |  |  |  | 29,415 |  |  |  | (15,769 | ) |  |  | 13,646 |
Unamortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks and trade names |  |  |  |  |  |  | 580 |  |  |  | — |  |  |  | 580 |
Total |  |  |  |  |  | $ | 29,995 |  |  | $ | (15,769 | ) |  | $ | 14,226 |
|  | 2018 |
|  | Weighted Average Original Life (Years) |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer lists and relationships |  |  | 8.9 |  |  | $ | 18,086 |  |  | $ | (9,377 | ) |  | $ | 8,709 |
Developed technology |  |  | 11.5 |  |  |  | 9,656 |  |  |  | (2,361 | ) |  |  | 7,295 |
Non-compete |  |  | 5.0 |  |  |  | 230 |  |  |  | (150 | ) |  |  | 80 |
Patents and other |  |  | 16.5 |  |  |  | 2,321 |  |  |  | (1,569 | ) |  |  | 752 |
Subtotal |  |  |  |  |  |  | 30,293 |  |  |  | (13,457 | ) |  |  | 16,836 |
Unamortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
In-process research and development |  |  |  |  |  |  | 267 |  |  |  | — |  |  |  | 267 |
Trademarks and trade names |  |  |  |  |  |  | 580 |  |  |  | — |  |  |  | 580 |
Total |  |  |  |  |  | $ | 31,140 |  |  | $ | (13,457 | ) |  | $ | 17,683 |
Estimated Amortization Expense | Based on the intangible assets in service as of September 30, 2019, estimated amortization expense for each of the next five fiscal years is as follows (in thousands):
2020 |  | $ | 2,414 |
2021 |  |  | 2,275 |
2022 |  |  | 2,235 |
2023 |  |  | 1,629 |
2024 |  |  | 1,584 |
Schedule Of Carrying Amount Of Goodwill By Segment | The change in the carrying amount of goodwill by segment for the years ended September 30, 2019 and 2018 was as follows (in thousands):
(Dollars in thousands) |  | In Vitro Diagnostics |  |  | Medical Device |  |  | Total |
Balance as of September 30, 2017 |  | $ | 8,010 |  |  | $ | 19,272 |  |  | $ | 27,282 |
Foreign currency translation adjustment |  |  | — |  |  |  | (250 | ) |  |  | (250 | )
Balance as of September 30, 2018 |  |  | 8,010 |  |  |  | 19,022 |  |  |  | 27,032 |
Foreign currency translation adjustment |  |  | — |  |  |  | (861 | ) |  |  | (861 | )
Balance as of September 30, 2019 |  | $ | 8,010 |  |  | $ | 18,161 |  |  | $ | 26,171 |
Schedule of Other Accrued Liabilities | Other accrued liabilities consisted of the following as of September 30 (in thousands):
|  | 2019 |  |  | 2018 |
Accrued professional fees |  | $ | 434 |  |  | $ | 311 |
Accrued clinical study expense |  |  | 2,163 |  |  |  | 2,839 |
Accrued purchases |  |  | 679 |  |  |  | 533 |
Acquisition of in process research and development |  |  | 989 |  |  |  | — |
Deferred rent |  |  | 130 |  |  |  | 121 |
Other |  |  | 395 |  |  |  | 262 |
Customer claim |  |  | — |  |  |  | 1,000 |
Construction in progress |  |  | — |  |  |  | 1,199 |
Total |  | $ | 4,790 |  |  | $ | 6,265 |
Denominator for Computation of Basic and Diluted Income Per Share | The following table sets forth the denominator for the computation of basic and diluted income per share for each of the years ended September 30 (in thousands):
|  | 2019 |  |  | 2018 |  |  | 2017 |
Net income (loss) available to common shareholders |  | $ | 7,592 |  |  | $ | (4,457 | ) |  | $ | 3,926 |
Basic weighted average shares outstanding |  |  | 13,389 |  |  |  | 13,157 |  |  |  | 13,153 |
Dilutive effect of outstanding stock options, non-vested restricted stock, restricted stock units and performance shares |  |  | 390 |  |  |  | — |  |  |  | 236 |
Diluted weighted average shares outstanding |  |  | 13,779 |  |  |  | 13,157 |  |  |  | 13,389 |
Impact of Adoption of ASC Topic 606 on Consolidated Balance Sheet | The impact of the adoption of ASC Topic 606 on the opening consolidated balance sheet as of October 1, 2018, as compared with the consolidated balance sheet previously reported as of September 30, 2018, was as follows:
(Dollars in thousands) |  | September 30, 2018, As Reported |  |  | Adjustments for Adoption of Topic 606 |  |  | October 1, 2018 Opening Balance |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Contract assets - royalties and license fees |  | $ | — |  |  | $ | 6,904 |  |  | $ | 6,904 |
Deferred income taxes |  |  | 6,304 |  |  |  | (1,215 | ) |  |  | 5,089 |
Income tax receivable |  |  | 1,152 |  |  |  | (390 | ) |  |  | 762 |
Liabilities and Stockholders' Equity |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue, current portion |  |  | 9,646 |  |  |  | (18 | ) |  |  | 9,628 |
Deferred revenue, less current portion |  |  | 11,247 |  |  |  | (181 | ) |  |  | 11,066 |
Retained earnings |  |  | 97,615 |  |  |  | 5,498 |  |  |  | 103,113 |

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