SEGMENT INFORMATION

6 Months Ended

Jan. 31, 2020

The Company has two operating segments: Supply Chain and Direct Marketing. The Company determined that its two reportable segments are the same as its operating segments. The Company also has Corporate-level activity, which consists primarily of costs associated with certain corporate administrative functions such as legal, finance, share-based compensation and acquisition costs which are not allocated to the Company's reportable segments. The Corporate-level balance sheet information includes cash and cash equivalents, debt and other assets and liabilities which are not identifiable to the operations of the Company's operating segments. All significant intra-segment amounts have been eliminated. Management evaluates segment performance based on segment net revenue and operating income (loss).

Summarized financial information by operating segment is as follows:



	Three Months Ended January 31,						Six Months Ended January 31,
	2020			2019			2020			2019
	(In thousands)
Net revenue:
Supply Chain	$	92,335		$	87,776		$	184,485		$	174,815
Direct Marketing	123,117			118,447			256,120			246,541
	$	215,452		$	206,223		$	440,605		$	421,356
Operating income (loss):
Supply Chain	$	5,763		$	(141	)	$	12,273		$	1,541
Direct Marketing	4,217			6,695			15,420			11,462
Total segment operating income	9,980			6,554			27,693			13,003
Corporate-level activity	(2,807		)	(4,428		)	(5,778		)	(7,341		)
Total operating income	7,173			2,126			21,915			5,662
Total other expense	(9,542		)	(12,474		)	(18,137		)	(22,264		)
Income (loss) before income taxes	$	(2,369	)	$	(10,348	)	$	3,778		$	(16,602	)



	January 31, 2020		July 31, 2019
	(In thousands)
Total assets:
Supply Chain	$	141,053	$	112,712
Direct Marketing	619,729		600,390
Sub-total—segment assets	760,782		713,102
Corporate	28,113		18,461
	$	788,895	$	731,563

Summarized financial information of the Company's net revenue from external customers by group of services is as follows:



	Three Months Ended January 31,				Six Months Ended January 31,
	2020		2019		2020		2019
	(In thousands)
Services:
Supply Chain	$	92,335	$	87,776	$	184,485	$	174,815
Products:
Direct Marketing	123,117		118,447		256,120		246,541
	$	215,452	$	206,223	$	440,605	$	421,356

Summarized financial information of the Company's net revenue by geographic location is as follows:



	Three Months Ended January 31,				Six Months Ended January 31,
	2020		2019		2020		2019
	(In thousands)
United States	$	145,293	$	136,347	$	299,714	$	282,411
China	32,569		37,910		72,026		74,521
Netherlands	11,071		14,403		21,719		29,347
Other	26,519		17,563		47,146		35,077
	$	215,452	$	206,223	$	440,605	$	421,356