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Segment Information
 12 Months Ended
Dec. 31, 2023
Segment Information  
Segment Information

14. Segment Information

 

Segment and geographical information is reported as follows:

 

 

Year Ended December 31, 2023

 

Benchtop Laboratory Equipment

 

 

Bioprocessing Systems

 

 

Corporate

 

 

Consolidated

 

Revenues

 

$9,745,400

 

 

$1,366,100

 

 

$-

 

 

$11,111,500

 

Foreign Sales

 

 

2,865,900

 

 

 

894,600

 

 

 

-

 

 

 

3,760,500

 

Income (Loss) From Operations

 

 

720,200

 

 

 

(7,751,200)

 

 

(2,228,900)

 

 

(9,259,900)

Assets

 

 

6,832,400

 

 

 

4,969,400

 

 

 

4,928,700

 

 

 

16,730,500

 

Long-Lived Asset Expenditures

 

 

29,700

 

 

 

102,000

 

 

 

-

 

 

 

131,700

 

Depreciation and Amortization

 

 

84,900

 

 

 

669,100

 

 

 

-

 

 

 

754,000

 

 

Six Months Ended December 31, 2022

 

Benchtop Laboratory Equipment

 

 

Bioprocessing Systems

 

 

Corporate

 

 

Consolidated

 

Revenues

 

$4,608,900

 

 

 

628,900

 

 

$-

 

 

$5,237,800

 

Foreign Sales

 

 

1,322,500

 

 

 

478,200

 

 

 

-

 

 

 

1,800,700

 

Income (Loss) From Operations

 

 

203,500

 

 

 

(3,483,200)

 

 

(902,300)

 

 

(4,137,000)

Assets

 

 

8,622,500

 

 

 

5,174,600

 

 

 

4,272,100

 

 

 

18,069,200

 

Long-Lived Asset Expenditures

 

 

34,300

 

 

 

220,200

 

 

 

-

 

 

 

254,500

 

Depreciation and Amortization

 

 

50,100

 

 

 

330,700

 

 

 

-

 

 

 

380,800

 

 

Year Ended June 30, 2022

 

Benchtop Laboratory Equipment

 

 

Bioprocessing Systems

 

 

Corporate

 

 

Consolidated

 

Revenues

 

$9,981,100

 

 

$1,419,400

 

 

$-

 

 

$11,400,500

 

Foreign Sales

 

 

3,702,400

 

 

 

1,101,400

 

 

 

-

 

 

 

4,803,800

 

Income (Loss) From Operations

 

 

1,475,800

 

 

 

(11,369,500)

 

 

(1,650,400)

 

 

(11,544,100)

Assets

 

 

9,538,600

 

 

 

5,077,500

 

 

 

6,391,800

 

 

 

21,007,900

 

Long-Lived Asset Expenditures

 

 

92,500

 

 

 

732,100

 

 

 

-

 

 

 

824,600

 

Depreciation and Amortization

 

 

96,300

 

 

 

591,900

 

 

 

-

 

 

 

688,200

 

Geographical Information

    

 

 

Year Ended

 

 

 

December 31, 2023

 

 

 

Revenue (a)

 

 

Long-Lived Assets

 

United States

 

$7,351,000

 

 

$1,414,200

 

All Other Foreign Countries

 

 

3,027,500

 

 

 

-

 

Germany

 

 

733,000

 

 

 

1,007,500

 

Total

 

$11,111,500

 

 

$2,421,700

 

 

 

 

Six Months Ended

 

 

 

December 31, 2022

 

 

 

Revenue (a)

 

 

Long-Lived Assets

 

United States

 

$3,437,000

 

 

$1,710,000

 

All Other Foreign Countries

 

 

1,454,700

 

 

 

-

 

Germany

 

 

346,100

 

 

 

885,000

 

Total

 

$5,237,800

 

 

$2,595,000

 

 

(a) Revenues are attributed to countries based on location of customer

 

For the year ended December 31, 2023, one customer accounted for approximately $1,301,400 revenue from the Benchtop Laboratory Equipment Segment, of which the revenue is 10% or more of the Company’s total revenue.

 

For the six months ended December 31, 2022, one customer accounted for approximately $545,300 revenue from the Benchtop Laboratory Equipment Segment, of which the revenue is 10% or more of the Company’s total revenue.

 

For the fiscal year ended June 30, 2022, there are no individual customer accounting for approximately 10% or more of the Company’s total revenue.

A reconciliation of the Company's consolidated segment income/loss from operations to consolidated income (loss) from operations before discontinued operations and income taxes for the year ended December 31, 2023, for the six months ended December 31, 2022 and for the fiscal year ended June 30, 2022, respectively are as follows:

 

 

Year ended December 31, 2023

 

Benchtop Laboratory Equipment

 

 

Bioprocessing Systems

 

 

Corporate

 

 

Consolidated

 

Income (Loss) from Operations

 

$720,200

 

 

$(7,751,200)

 

$(2,228,900)

 

$(9,259,900)

Other income (expense), net

 

 

10,500

 

 

 

14,300

 

 

 

145,300

 

 

 

170,100

 

Income (Loss) from operations before discontinued operations and income taxes

 

$730,700

 

 

$(7,736,900)

 

$(2,083,600)

 

$(9,089,800)

 

Six Months ended December 31, 2022

 

Benchtop Laboratory Equipment

 

 

Bioprocessing Systems

 

 

Corporate

 

 

Consolidated

 

Income (Loss) from Operations

 

$203,500

 

 

$(3,438,200)

 

$(902,300)

 

$(4,137,000)

Other (expense) income, net

 

 

(28,200)

 

 

3,600

 

 

 

88,500

 

 

 

63,900

 

Income (Loss) from operations before discontinued operations and income taxes

 

$175,300

 

 

$(3,434,600)

 

$(813,800)

 

$(4,073,100)

 

Year ended June 30, 2022

 

Benchtop Laboratory Equipment

 

 

Bioprocessing Systems

 

 

Corporate

 

 

Consolidated

 

Income (Loss) from Operations

 

$1,475,800

 

 

$(11,369,500)

 

$(1,650,400)

 

$(11,544,100)

Other income, net

 

 

194,000

 

 

 

(3,100)

 

 

71,500

 

 

 

262,400

 

Income (Loss) from operations before discontinued operations and income taxes

 

$1,669,800

 

 

$(11,372,600)

 

$(1,578,900)

 

$(11,281,700)