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Note H - Segment Information | 9 Months Ended
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Mar. 31, 2024
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | H. Segment Information Our business consists of two segments for financial reporting purposes. The two segments are identified as (i) private-label contract manufacturing, which primarily relates to the provision of private-label contract manufacturing services to companies that market and distribute nutritional supplements and other health care products, and (ii) patent and trademark licensing, which primarily includes direct raw material sales and royalty income from our license and supply agreements associated with the sale and use of beta-alanine under our CarnoSyn® and SR CarnoSyn® trade names. We evaluate performance of these segments based on a number of factors. The primary performance measures for each segment are net sales and income or loss from operations before the allocation of certain corporate level expenses. Operating income or loss for each segment does not include corporate general and administrative expenses, interest expense and other miscellaneous income and expense items. Corporate general and administrative expenses include, but are not limited to human resources, corporate legal, finance, information technology, and other corporate level related expenses, which are not allocated to any segment. Transfers of raw materials between segments are recorded at cost. The accounting policies of our segments are the same as those described in the summary of significant accounting policies in Note A above and in the consolidated financial statements included in our 2023 Annual Report. Our operating results by business segment were as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | March 31, |  |  | March 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Private label contract manufacturing |  | $ | 22,479 |  |  | $ | 30,354 |  |  | $ | 77,718 |  |  | $ | 112,969 |
Patent and trademark licensing |  |  | 2,657 |  |  |  | 2,345 |  |  |  | 6,589 |  |  |  | 5,152 |
Total Net Sales |  | $ | 25,136 |  |  | $ | 32,699 |  |  | $ | 84,307 |  |  | $ | 118,121 |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | March 31, |  |  | March 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
(Loss) Income from Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Private label contract manufacturing |  | $ | (1,007 | ) |  | $ | (1,243 | ) |  | $ | (2,367 | ) |  | $ | 6,264 |
Patent and trademark licensing |  |  | 1,201 |  |  |  | 790 |  |  | $ | 2,592 |  |  |  | 1,485 |
Income (Loss) from operations of reportable segments |  |  | 194 |  |  |  | (453 | ) |  | $ | 225 |  |  |  | 7,749 |
Corporate expenses not allocated to segments |  |  | (2,146 | ) |  |  | (2,035 | ) |  | $ | (6,234 | ) |  |  | (6,210 | )
Total (Loss) Income from Operations |  | $ | (1,952 | ) |  | $ | (2,488 | ) |  | $ | (6,009 | ) |  | $ | 1,539 |
|  | March 31, |  |  | June 30, |
|  | 2024 |  |  | 2023 |
Total Assets |  |  |  |  |  |  |  |
Private-label contract manufacturing |  | $ | 119,245 |  |  | $ | 102,495 |
Patent and trademark licensing |  |  | 33,966 |  |  |  | 31,657 |
|  | $ | 153,211 |  |  | $ | 134,152 |
Our private-label contract manufacturing products are sold both in the U.S. and in markets outside the U.S., including Europe, Canada, Australia, New Zealand, Mexico, and Asia. Our primary markets outside the U.S. are Europe and Asia. Our patent and trademark licensing activities are primarily based in the U.S. Net sales by geographic region, based on the customers’ location, were as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | March 31, |  |  | March 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
United States |  | $ | 15,457 |  |  | $ | 24,254 |  |  | $ | 56,990 |  |  | $ | 82,995 |
Markets outside of the United States |  |  | 9,679 |  |  |  | 8,445 |  |  |  | 27,317 |  |  |  | 35,126 |
Total |  | $ | 25,136 |  |  | $ | 32,699 |  |  | $ | 84,307 |  |  | $ | 118,121 |
Products manufactured by our Swiss subsidiary ("NAIE") accounted for 68% of net sales in markets outside the U.S. for the three months ended March 31, 2024, and 76% for the nine months ended March 31, 2024. Products manufactured by our Swiss subsidiary ("NAIE") accounted for 81% of net sales in markets outside the U.S. for the three months ended March 31, 2023, and 76% for the nine months ended March 31, 2023. Long-lived assets by geographic region, based on the location of the company or subsidiary at which they were located or made, were as follows (in thousands):
|  | March 31, 2024 |  |  | June 30, 2023 |
United States |  | $ | 78,238 |  |  | $ | 53,536 |
Europe |  |  | 18,178 |  |  |  | 20,674 |
Total Long-Lived Assets |  | $ | 96,416 |  |  | $ | 74,210 |
Total assets by geographic region, based on the location of the company or subsidiary at which they were located or made, were as follows (in thousands):
|  | March 31, 2024 |  |  | June 30, 2023 |
United States |  | $ | 109,465 |  |  | $ | 89,167 |
Europe |  |  | 43,746 |  |  |  | 44,985 |
Total Assets |  | $ | 153,211 |  |  | $ | 134,152 |
Capital expenditures by geographic region, based on the location of the company or subsidiary at which they were located or made, were as follows (in thousands):
|  | Nine Months Ended |
|  | March 31, |
|  | 2024 |  |  | 2023 |
United States |  | $ | 1,801 |  |  | $ | 12,983 |
Europe |  |  | 182 |  |  |  | 256 |
Total Capital Expenditures |  | $ | 1,983 |  |  | $ | 13,239 |

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