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Note 14 - Segment Data
 12 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 14. Segment Data

 

Segment information is prepared on the same basis that our CEO and chief operating decision maker uses to manage our segments, evaluate financial results, and make key operating decisions. Our four reportable segments are organized primarily by the nature of the goods and services they sell. 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,

 
  

2023

  

2022

  

2021

 

Revenues (a):

            

Clinical Genomics

 $62,299  $32,840  $- 

Sterilization and Disinfection Control

  64,609   59,044   53,119 

Biopharmaceutical Development

  47,365   45,579   33,892 

Calibration Solutions

  44,807   46,872   46,926 

Reportable segment revenues

  219,080   184,335   133,937 

Corporate and Other (b)

  -   -   - 

Total revenues

 $219,080  $184,335  $133,937 
             

Gross profit:

            

Clinical Genomics

 $32,485  $11,941  $- 

Sterilization and Disinfection Control

  46,520   43,720   39,870 

Biopharmaceutical Development

  30,340   28,605   21,035 

Calibration Solutions

  24,388   24,989   26,112 

Reportable segment gross profit

  133,733   109,255   87,017 

Corporate and Other (b)

  (40)  (165)  (3)

Gross profit

 $133,693  $109,090  $87,014 
             

Reconciling items:

            

Operating expenses

  130,373   104,388   74,656 

Operating income

  3,320   4,702   12,358 

Nonoperating expense

  3,709   1,128   10,055 

Earnings before income taxes

 $(389) $3,574  $2,303 

 

 

(a)

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

 

(b)

Unallocated corporate expenses and other business activities 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,

 
  

2023

  

2022

 

Clinical Genomics

 $13,985  $11,802 

Sterilization and Disinfection Control

  3,492   2,176 

Biopharmaceutical Development

  8,384   4,495 

Calibration Solutions

  8,781   6,133 

Reportable segment inventory

  34,642   24,606 

Corporate and Other

  -   - 

Total inventories, net

 $34,642  $24,606 

 

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,

 
  

2023

  

2022

 

United States

 $34,729  $36,475 

Foreign

  3,793   3,975 

Total

 $38,522  $40,450 

 

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,

 
  

2023

  

2022

  

2021

 

United States

 $117,281  $99,068  $71,387 

China

  25,797   16,518   6,612 

Other

  76,002   68,749   55,938 

Total revenues

 $219,080  $184,335  $133,937 

 

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