4. Segment Information and Concentrations

6 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Information and Concentrations

The Company views its operations as three segments: the manufacture and marketing of standard benchtop laboratory equipment for research in university, hospital and industrial laboratories sold primarily through laboratory equipment distributors (“Benchtop 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 (“Catalyst 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 (foreign sales are principally to customers in Europe and Asia):

	Benchtop Laboratory Equipment			Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other		Consolidated
Three months ended December 31, 2014:
Revenues	$	1,247,000		$	419,600		$	24,500		$	-	$	1,691,100
Foreign Sales		722,400			315,700			-			-		1,038,100
Loss from Operations		(67,200	)		(70,600	)		(44,700	)		-		(182,500	)
Assets		4,032,700			1,387,900			774,100			585,800		6,780,500
Long-Lived Asset Expenditures		33,200			-			2,300			-		35,500
Depreciation and Amortization		76,300			9,200			24,500			-		110,000

	Benchtop Laboratory Equipment		Catalyst Research Instruments		Bioprocessing Systems		Corporate and Other			Consolidated
Three months ended December 31, 2013:
Revenues	$	1,154,000	$	463,400	$	130,400	$	-		$	1,747,800
Foreign Sales		823,400		88,900		-		-			912,300
Income (Loss) from Operations		119,800		2,100		64,600		(10,000	)		176,500
Assets		2,787,400		1,704,400		981,600		829,800			6,303,200
Long-Lived Asset Expenditures		10,100		-		6,000		-			16,100
Depreciation and Amortization		11,600		8,500		24,200		-			44,300

Approximately 50% and 65% of net sales of benchtop laboratory equipment (37% and 43% of total revenues) for the three month periods ended December 31, 2014 and 2013, respectively, were derived from the Company’s main product, the Vortex-Genie 2® mixer, excluding accessories.

Approximately 21% of total benchtop laboratory equipment sales were derived from Torbal brand products for the three months ended December 31, 2014.

Two customers accounted in the aggregate for approximately 18% and 25% of the net sales of the Benchtop Laboratory Equipment Operations and 13% and 17% of total revenues for the three months ended December 31, 2014, and 2013, respectively. Sales of catalyst research instruments generally comprise a few very large orders averaging at least $100,000 per order to a limited number of customers, who differ from order to order. Sales to four customers and three customers represented approximately 84% and 91% of the Catalyst Research Instrument Operations’ net sales, respectively, and 21% and 24% of total revenues for the three months ended December 31, 2014 and 2013, respectively.

	Benchtop Laboratory Equipment			Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other		Consolidated
Six months ended December 31, 2014:
Revenues	$	2,333,400		$	970,700		$	49,100		$	-	$	3,353,200
Foreign Sales		1,133,500			759,200			-			-		1,892,700
Loss from Operations		(185,300	)		(140,800	)		(85,100	)		-		(411,200	)
Assets		4,032,700			1,387,900			774,100			585,800		6,780,500
Long-Lived Asset Expenditures		51,500			900			3,900			-		56,300
Depreciation and Amortization		152,300			19,000			48,800			-		220,100

	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems		Corporate and Other			Consolidated
Six months ended December 31, 2013:
Revenues	$	2,223,700	$	803,100		$	157,100	$	-		$	3,183,900
Foreign Sales		1,444,200		162,400			2,000		-			1,608,600
Income (Loss) from Operations		238,100		(101,900	)		47,800		(10,500	)		173,500
Assets		2,787,400		1,704,400			981,600		829,800			6,303,200
Long-Lived Asset Expenditures		20,000		-			6,500		-			26,500
Depreciation and Amortization		22,600		17,600			48,300		-			88,500

Approximately 48% and 66% of net sales of benchtop laboratory equipment (33% and 46% of total revenues) for the six month periods ended December 31, 2014 and 2013, respectively, were derived from the segment’s main product, the Vortex- Genie 2® mixer, excluding accessories.

Two benchtop laboratory equipment customers, accounted in the aggregate for approximately 16% and 21% of the segment’s net sales for the six month periods ended December 31, 2014 and 2013, and 11% and 14%, of total revenues for the six month periods ended December 31, 2014 and 2013, respectively.

Approximately 20% of total benchtop laboratory equipment sales were derived from Torbal brand products for the six months ended December 31, 2014.

For the six month periods ended December 31, 2014 and 2013, catalyst instruments sales to eight and six different customers in each of the six month periods, accounted for approximately 97% and 92% of the segment's net sales and 28% and 23% of total revenues, respectively.