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3 Segment Information
 9 Months Ended
Mar. 31, 2022
3 Segment Information  
Segment Information

3. Segment Information and Concentrations

 

The Company views its operations as two segments: the manufacture and marketing of standard benchtop laboratory equipment for research in university, hospital and industrial laboratories sold primarily through laboratory equipment distributors and laboratory and pharmacy balances and scales (“Benchtop Laboratory Equipment Operations”); and the design, manufacture, and marketing of bioprocessing systems and products (“Bioprocessing Systems”) and related royalty income.

 

Segment information is reported as follows:

 

 

 

Benchtop Laboratory Equipment

 

 

Bioprocessing Systems

 

 

Corporate And Other

 

 

Consolidated

 

Three Months Ended March 31, 2022:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$2,434,600

 

 

$430,300

 

 

$-

 

 

$2,864,900

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Sales

 

 

783,600

 

 

 

269,700

 

 

 

-

 

 

 

1,053,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) From Operations

 

 

247,300

 

 

 

(1,651,700)

 

 

(337,900)

 

 

(1,742,300)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

10,231,100

 

 

 

10,024,261

 

 

 

10,271,439

 

 

 

30,526,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Lived Asset Expenditures

 

 

16,500

 

 

 

158,000

 

 

 

-

 

 

 

174,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortization

 

 

24,600

 

 

 

229,900

 

 

 

-

 

 

 

254,500

 

 

 

Benchtop Laboratory Equipment

 

 

Bioprocessing Systems

 

 

Corporate And Other

 

 

Consolidated

 

Three Months Ended March 31, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$2,365,700

 

 

$142,900

 

 

$-

 

 

$2,508,600

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Sales

 

 

942,200

 

 

 

102,600

 

 

 

-

 

 

 

1,044,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) From Operations

 

 

394,700

 

 

 

(1,323,900)

 

 

(929,600)

 

 

(1,858,800)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

5,979,400

 

 

 

1,281,200

 

 

 

6,639,700

 

 

 

13,900,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Lived Asset Expenditures

 

 

18,600

 

 

 

92,100

 

 

 

-

 

 

 

110,700

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortization

 

 

30,000

 

 

 

16,700

 

 

 

-

 

 

 

46,700

 

Approximately 50% and 55% of net sales from Benchtop Laboratory Equipment Operations (42% and 52% of total revenues) for the three months ended March 31, 2022 and 2021, respectively, were derived from sales of the Company’s main product, the Vortex-Genie 2 mixer, excluding accessories.

 

Approximately 24% and 20% of total Benchtop Laboratory Equipment Operations sales (20% and 19% of total revenues) were derived from the Torbal Scales Division for the three months ended March 31, 2022 and 2021, respectively. For the three months ended March 31, 2022 and 2021, respectively, three customers accounted for approximately 19% and 26% of net sales of the Benchtop Laboratory Equipment Operations (16% and 25% of the Company’s total revenues), respectively.

 

 

 

Benchtop Laboratory Equipment

 

 

Bioprocessing Systems

 

 

Corporate And Other

 

 

Consolidated

 

Nine Months Ended March 31, 2022:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$7,465,700

 

 

$1,157,800

 

 

$-

 

 

$8,623,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Sales

 

 

2,814,700

 

 

 

791,200

 

 

 

-

 

 

 

3,605,900

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) From Operations

 

 

1,107,000

 

 

 

(5,091,300)

 

 

(1,127,200)

 

 

(5,111,500)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

10,231,100

 

 

 

10,024,261

 

 

 

10,271,439

 

 

 

30,526,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Lived Asset Expenditures

 

 

83,100

 

 

 

321,300

 

 

 

-

 

 

 

404,400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortization

 

 

71,200

 

 

 

510,600

 

 

 

-

 

 

 

581,800

 

 

 

Benchtop Laboratory Equipment

 

 

Bioprocessing Systems

 

 

Corporate And Other

 

 

Consolidated

 

Nine Months Ended March 31, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$6,803,300

 

 

$441,800

 

 

$-

 

 

$7,245,100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Sales

 

 

2,724,800

 

 

 

395,000

 

 

 

-

 

 

 

3,119,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) From Operations

 

 

1,347,100

 

 

 

(2,598,000)

 

 

(1,048,000)

 

 

(2,298,900)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

5,979,400

 

 

 

1,281,200

 

 

 

6,639,700

 

 

 

13,900,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Lived Asset Expenditures

 

 

54,100

 

 

 

170,800

 

 

 

-

 

 

 

224,900

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortization

 

 

79,700

 

 

 

46,500

 

 

 

500

 

 

 

126,700

 

Approximately 49% and 51% of total Benchtop Laboratory Equipment Operations sales (42% and 47% of total revenues) for the nine months ended March 31, 2022 and 2021, respectively, were derived from sales of the Company’s main product, the Vortex-Genie 2 mixer, excluding accessories.

 

Approximately 24% and 23% for both periods of total Benchtop Laboratory Equipment Operations sales (21% and 21% of total revenues) were derived from the Torbal Scales Division for the nine months ended March 31, 2022 and 2021, respectively.

 

For each of the nine-month periods ended March 31, 2022 and 2021, three customers accounted for approximately 20% and 23% of net sales of the Benchtop Laboratory Equipment Operations (17% and 21% of the Company’s total revenues), respectively.