4. Segment Information and Concentrations

9 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Segment Information and Concentrations

4. Segment Information and Concentrations:

The Company views its operations as three segments: the manufacture and marketing of standard benchtop laboratory equipment including the balances and scales by its Torbal Scales Division for research in university, hospital and industrial laboratories sold primarily through laboratory equipment distributors and on a direct basis (ABenchtop Laboratory Equipment@), the manufacture and marketing of custom-made catalyst research instruments for universities, government laboratories, and chemical and petrochemical companies sold on a direct basis (ACatalyst Research Instruments@) and the marketing and production of bioprocessing systems for laboratory research in the biotechnology industry sold directly to customers and through distributors (“Bioprocessing Systems”).

Segment information is reported as follows:

	Benchtop	Catalyst		Corporate
	Laboratory	Research	Bioprocessing	and
	Equipment	Instruments	Systems	Other	Consolidated
Three months ended March 31, 2014:
Revenues	$1,177,400	$ 603,900	$ 5,000	$ -	$1,786,300
Foreign Sales	604,900	198,800	-	-	803,700
Income(Loss)from Operations	61,400	(10,600)	(58,000)	(69,000)	( 76,200)
Assets	4,017,100	1,847,900	873,300	674,800	7,413,100
Long-Lived Asset Expenditures	1,454,700	11,300	1,000	-	1,467,000
Depreciation and Amortization	32,700	8,500	24,300	-	65,500

Three months ended March 31, 2013:

	Benchtop	Catalyst		Corporate
	Laboratory	Research	Bioprocessing	and
	Equipment	Instruments	Systems	Other	Consolidated
Three months ended March 31, 2013:
Revenues	$1,229,800	$ 360,600	$ 35,700	$ -	$1,626,100
Foreign Sales	645,300	107,300	-	-	752,600
Income(Loss) from Operations	243,300	3,600	(41,700)	-	205,200
Assets	2,719,500	1,932,600	904,600	916,800	6,473,500
Long-Lived Asset Expenditures	1,700	1,200	-	-	2,900
Depreciation and Amortization	10,700	8,700	24,000	-	43,400

Approximately 57% and 71% of net sales of benchtop laboratory equipment for the three month periods ended March 31, 2014 and 2013, respectively, were derived from the Company=s main product, the Vortex-Genie 2 mixer, excluding accessories.

Approximately 13% of total benchtop laboratory equipment sales were derived from the new Torbal Scales Division for the three months ended March 31, 2014.

Two benchtop laboratory equipment customers accounted for approximately 22% and 27% of the segment=s net sales for the three month periods ended March 31, 2014 and 2013 (15% and 20% of total net sales, respectively, for the periods).

Sales of catalyst research instruments are generally pursuant to large orders averaging more than $100,000 per order to a limited numbers of customers. Sales to two customers in the three months ended March 31, 2014 and three different customers in the three months ended March 31, 2013, accounted respectively for 94% and 92% of the segment=s net sales for each of the periods (32% and 20% of total net sales for the respective periods).

	Benchtop	Catalyst		Corporate
	Laboratory	Research	Bioprocessing	and
	Equipment	Instruments	Systems	Other	Consolidated
Nine months ended March 31, 2014:
Revenues	$3,401,200	$1,406,900	$ 162,100	$ -	$4,970,200
Foreign Sales	2,049,100	367,100	2,000	-	2,418,200
Income(Loss) from Operations	299,100	(112,500)	(10,200)	(79,500)	96,900
Assets	4,017,100	1,847,900	873,300	674,800	7,413,100
Long-Lived Asset Expenditures	1,474,700	11,300	7,500	-	1,493,500
Depreciation and Amortization	55,300	26,100	72,600	-	154,000

	Benchtop	Catalyst		Corporate
	Laboratory	Research	Bioprocessing	and
	Equipment	Instruments	Systems	Other	Consolidated
Nine months ended March 31, 2013:
Revenues	$3,459,500	$1,309,700	$ 85,500	$ -	$4,854,700
Foreign Sales	2,014,900	626,400	-	-	2,641,300
Income(Loss) from Operations	518,100	(62,500)	(147,600)	-	308,000
Assets	2,719,500	1,932,600	904,600	916,800	6,473,500
Long-Lived Asset Expenditures	10,900	19,300	-	-	30,200
Depreciation and Amortization	33,300	27,200	71,900	-	132,400

Approximately 63% and 69% of net sales of benchtop laboratory equipment for the nine month periods ended March 31, 2014 and 2013, respectively, were derived from sales by the Company=s main product, the Vortex-Genie 2 mixer, excluding accessories.

Approximately 4% of total benchtop laboratory equipment sales for the nine months ended March 31, 2014 were derived from sales since acquisition in February 2014 of the new Torbal Scales Division.

Two benchtop laboratory equipment customers, accounted for approximately 21% and 24% of the segment=s net sales (14% and 17% of total net sales) for the nine month periods ended March 31, 2014 and 2013, respectively.

Sales of catalyst research instruments to three customers in the nine months ended March 31, 2014 and to three other customers in the nine months ended March 31, 2013 accounted for approximately 59% and 49% of that segment=s net sales (17% and 13% of total net sales) for the respective nine month periods.

The Company=s foreign sales are principally made to customers in Europe and Asia. The Company also has an arrangement with a supplier for annual minimum purchase commitments through February 2020 which the Company has already met for the current year.