XML 38 R22.htm IDEA: XBRL DOCUMENT v3.22.1
Note 14 - Segment Data
 12 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 14. Segment Data

 

Segment information is prepared on the same basis that our CEO, who is our Chief Operating Decision Maker, uses to manage the segments, evaluate financial results, and make key operating decisions. The acquisition of Agena discussed in Note 4. "Significant Transactions," expanded our presence further into the life sciences tools market and provided an impetus for the creation of our new Clinical Genomics reportable segment. This strategic shift in our business also resulted in a change to the way we manage other business units, and as a result, our historical Instruments and Continuous Monitoring reportable segments have been combined to create Calibration Solutions. Prior year amounts have been recast to conform to current year presentation. Our change in financial reporting segments has not resulted in any change to previously reported consolidated amounts.

 

We have four reportable segments organized primarily by product type: Sterilization and Disinfection Control, Biopharmaceutical Development, Calibration Solutions, and Clinical Genomics. When determining our reportable segments, we aggregated operating segments based on their similar economic and operating characteristics. We evaluate the performance of our operating segments based on revenues, organic revenues growth, and gross profit. The accounting policies of the operating segments are the same as those described in Note 1. "Description of Business and Summary of Significant Accounting Policies."

 

The following tables set forth our segment information:

 

  

Year Ended March 31,

 
  

2022

  

2021

  

2020

 

Revenues (a):

            

Sterilization and Disinfection Control

 $59,044  $53,119  $49,660 

Biopharmaceutical Development

  45,579   33,892   13,851 

Calibration Solutions

  46,872   46,926   51,713 

Clinical Genomics

  32,840   -   - 

Reportable segment revenues

  184,335   133,937   115,224 

Corporate and Other (b)

  -   -   2,463 

Total revenues

 $184,335  $133,937  $117,687 
             

Gross profit:

            

Sterilization and Disinfection Control

 $43,720  $39,870  $35,797 

Biopharmaceutical Development

  28,605   21,035   382 

Calibration Solutions

  24,989   26,112   28,765 

Clinical Genomics

  11,941   -   - 

Reportable segment gross profit

  109,255   87,017   64,944 

Corporate and Other (b)

  (165)  (3)  418 

Gross profit

 $109,090  $87,014  $65,362 
             

Reconciling items:

            

Operating expenses

  104,388   74,656   57,439 

Operating income

  4,702   12,358   7,923 

Nonoperating expense

  1,128   10,055   4,061 

Earnings before income taxes

 $3,574  $2,303  $3,862 

 

 

(a)

Intersegment revenues are not significant and are eliminated to arrive at consolidated totals.

 

(b)

Non-reportable operating segments (including our Cold Chain Packaging Division which ceased operations during the year ended March 31, 2020) and unallocated corporate expenses are reported within Corporate and Other. 

 

The following table sets forth net inventories by reportable segment. Our chief operating decision maker is not provided with any other segment asset information.

 

  

March 31,

  

March 31,

 
  

2022

  

2021

 

Sterilization and Disinfection Control

 $2,176  $2,333 

Biopharmaceutical Development

  4,495   4,162 

Calibration Solutions

  6,133   4,683 

Clinical Genomics

  11,802   - 

Reportable segment inventory

  24,606   11,178 

Corporate and Other

  -   - 

Total inventories, net

 $24,606  $11,178 

 

The following table sets forth a summary of long-lived assets by geographic area. Long-lived assets exclude goodwill and intangible assets acquired in a business combination and deferred tax assets. 

 

  

As of March 31,

 
  

2022

  

2021

 

United States

 $36,475  $21,443 

Foreign

  3,975   3,085 

Total

 $40,450  $24,528 

 

Revenues from external customers are attributed to individual countries based upon locations to which the product is shipped or exported, as follows:

 

  

Year Ended March 31,

 
  

2022

  

2021

  

2020

 

United States

 $99,068  $71,387  $66,344 

Foreign

  85,267   62,550   51,343 

Total revenues

 $184,335  $133,937  $117,687 

 

No customer accounts for 10% or more of our revenues. No foreign country exceeds 10% of total revenues.