4. Segment Information and Concentrations

6 Months Ended

Dec. 31, 2015

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, 2015:
Revenues	$	1,583,500	$	414,500		$	30,200		$	—		$	2,028,200
Foreign Sales		764,400		105,500			—			—			869,900
Income (Loss) from Operations		187,700		(10,100	)		(32,900	)		(14,000	)		130,700
Assets		4,352,600		2,319,200			728,800			578,300			7,978,900
Long-Lived Asset Expenditures		1,900		—			5,700			—			7,600
Depreciation and Amortization		74,200		7,000			24,400			—			105,600

	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

Approximately 53% and 50% of net sales of benchtop laboratory equipment (41% and 37% of total revenues) for the three month periods ended December 31, 2015 and 2014, respectively, were derived from the Company’s main product, the Vortex-Genie 2® mixer, excluding accessories.

Approximately 19% and 21% of net sales of benchtop laboratory equipment (15% of total revenues for both periods) were derived from Torbal brand products for the three months ended December 31, 2015 and 2014, respectively.

Two customers accounted in the aggregate for approximately 14% and 18% of the net sales of the Benchtop Laboratory Equipment Operations and 11% and 13% of total revenues for the three months ended December 31, 2015, and 2014, 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 three different customers represented approximately 92% and 84% of the Catalyst Research Instrument Operations’ net sales, respectively, and 19% and 21% of total revenues for the three months ended December 31, 2015 and 2014, respectively.

	Benchtop Laboratory Equipment		Catalyst Research Instruments			Bioprocessing Systems			Corporate and Other			Consolidated
Six months ended December 31, 2015:
Revenues	$	2,846,500	$	567,500		$	58,600		$	—		$	3,472,600
Foreign Sales		1,363,400		113,300			—			—			1,476,700
Income (Loss) from Operations		242,400		(92,200	)		(62,900	)		(22,100	)		65,200
Assets		4,352,600		2,319,200			728,800			578,300			7,978,900
Long-Lived Asset Expenditures		8,400		—			5,700			—			14,100
Depreciation and Amortization		148,000		13,900			48,900			—			210,800

	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

Approximately 50% and 48% of net sales of benchtop laboratory equipment (41% and 33% of total revenues) for the six month periods ended December 31, 2015 and 2014, 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 13% and 16% of the segment’s net sales for the six month periods ended December 31, 2015 and 2014, and 11% of total revenues for each of the six month periods ended December 31, 2015 and 2014.

Approximately 20% of net sales of benchtop laboratory equipment were derived from Torbal brand products for each of the six months ended December 31, 2015 and 2014, and 16% and 14% of total revenues, respectively.

For the six month periods ended December 31, 2015 and 2014, catalyst research Instruments sales to three and six different customers in each of the six month periods, accounted for approximately 88% and 97% of the segment’s net sales and 14% and 28% of total revenues, respectively.