Segment Information

6 Months Ended

Jan. 31, 2014

Segment Information

16. Segment Information:

Our business is strategically aligned into three segments: Medical Imaging, Ultrasound, and Security Technology. Our business segments are described below.

• Medical Imaging, which primarily includes systems and subsystems for CT and MRI medical imaging equipment as well as state-of-the-art, selenium-based detectors for screening of breast cancer and other diagnostic applications in mammography.

• Ultrasound, which includes ultrasound systems and transducers used primarily in the urology, surgery (including robotic assisted surgery), anesthesia, and point-of-care markets.

• Security Technology, which includes advanced threat detecting CT systems utilizing our expertise in advanced imaging technology, primarily used in checked baggage screening at airports worldwide.

The tables below present information about our reportable segments:

	For the Three Months Ended						For the Six Months Ended
	January 31,						January 31,
(in millions)	2014			2013			2014			2013
Product revenue:
Medical Imaging	$	78.4		$	77.5		$	137.6		$	149.7
Ultrasound		40.1			40.5			74.8			72.1
Security Technology		20.9			14.8			35.5			23.5
Total product revenue	$	139.4		$	132.8		$	247.9		$	245.3
Engineering revenue:
Medical Imaging	$	1.2		$	3.2		$	2.2		$	7.0
Ultrasound		-			-			-			-
Security Technology		0.8			2.6			1.4			6.1
Total engineering revenue	$	2.0		$	5.8		$	3.6		$	13.1
Net revenue:
Medical Imaging	$	79.6		$	80.7		$	139.8		$	156.7
Ultrasound		40.1			40.5			74.8			72.1
Security Technology		21.7			17.4			36.9			29.6
Total net revenue	$	141.4		$	138.6		$	251.5		$	258.4
Income from operations:
Medical Imaging	$	10.9		$	8.5		$	10.4		$	15.9
Ultrasound		(0.8	)		3.5			(4.8	)		2.7
Security Technology		3.0			1.8			2.1			2.6
Total income from operations		13.1			13.8			7.7			21.2
Total other expense, net		(0.4	)		(0.4	)		(0.8	)		(1.3	)
Income from operations before income taxes	$	12.7		$	13.4		$	6.9		$	19.9

	As of		As of
	January 31,		July 31,
(in millions)	2014		2013
Identifiable assets by segment:
Medical Imaging	$	199.9	$	217.1
Ultrasound		209.6		218.4
Security Technology		41.1		53.4
Total reportable segment assets		450.6		488.9
Corporate assets (A)		136.3		98.9
Total assets	$	586.9	$	587.8

	As of		As of
	January 31,		July 31,
(in millions)	2014		2013
Goodwill by segment:
Medical Imaging	$	1.9	$	1.9
Ultrasound		48.2		48.2
Security Technology		-		-
Corporate (B)		6.9		-
Total goodwill	$	57.0	$	50.1

(A) Includes cash and cash equivalents of $73.8 million and $57.4 million as of January 31, 2014 and July 31, 2013, respectively.

(B) Includes goodwill related to the acquisition of PocketSonics. Please see Note 7. Goodwill and Other Intangible Assets for further discussion on PocketSonics.