☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Common Stock, no par value | VIVO | NASDAQ Global Select Market |
Large accelerated filer | ☒ | Accelerated filer | ☐ | |||
Non-accelerated filer | ☐ | Smaller reporting company | ☐ | |||
Emerging growth company | ☐ |
Class | Outstanding | |
Common Stock, no par value |
Page(s) | ||||||
PART I. | ||||||
Item 1. | ||||||
1 | ||||||
2 | ||||||
3 | ||||||
4-5 | ||||||
6 | ||||||
Item 2. | ||||||
Item 3. | ||||||
Item 4. | ||||||
PART II. | ||||||
Item 1. | Legal Proceedings | 29 | ||||
Item 1A. | ||||||
Item 6. | ||||||
Three Months Ended December 31, | ||||||||
2021 | 2020 | |||||||
NET REVENUES | $ | 88,341 | $ | 92,917 | ||||
COST OF SALES | 39,182 | 31,369 | ||||||
GROSS PROFIT | 49,159 | 61,548 | ||||||
OPERATING EXPENSES | ||||||||
Research and development | 6,194 | 5,651 | ||||||
Selling and marketing | 7,741 | 7,021 | ||||||
General and administrative | 14,660 | 11,938 | ||||||
Selected legal costs | 281 | 1,227 | ||||||
Change in fair value of acquisition consideration | 0 | 1,047 | ||||||
Total operating expenses | 28,876 | 26,884 | ||||||
OPERATING INCOME | 20,283 | 34,664 | ||||||
OTHER INCOME (EXPENSE) | ||||||||
Interest income | 1 | 9 | ||||||
Interest expense | (372 | ) | (534 | ) | ||||
RADx grant income | 0 | 800 | ||||||
Other, net | (161 | ) | (691 | ) | ||||
Total other expense, net | (532 | ) | (416 | ) | ||||
EARNINGS BEFORE INCOME TAXES | 19,751 | 34,248 | ||||||
INCOME TAX PROVISION | 4,411 | 7,469 | ||||||
NET EARNINGS | $ | 15,340 | $ | 26,779 | ||||
BASIC EARNINGS PER COMMON SHARE | $ | 0.35 | $ | 0.62 | ||||
DILUTED EARNINGS PER COMMON SHARE | $ | 0.35 | $ | 0.61 | ||||
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC | 43,439 | 43,098 | ||||||
EFFECT OF DILUTIVE STOCK OPTIONS AND RESTRICTED SHARE UNITS | 589 | 681 | ||||||
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED | 44,028 | 43,779 | ||||||
ANTI-DILUTIVE SECURITIES: | ||||||||
Common share options and restricted share units | 425 | 258 | ||||||
Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||
NET REVENUES | $ | 67,771 | $ | 63,511 | $ | 267,343 | $ | 241,692 | ||||||||
COST OF SALES | 31,043 | 26,400 | 112,979 | 85,261 | ||||||||||||
GROSS PROFIT | 36,728 | 37,111 | 154,364 | 156,431 | ||||||||||||
OPERATING EXPENSES | ||||||||||||||||
Research and development | 6,043 | 6,083 | 17,928 | 17,799 | ||||||||||||
Selling and marketing | 8,178 | 6,209 | 23,433 | 19,770 | ||||||||||||
General and administrative | 13,149 | 11,964 | 46,364 | 36,827 | ||||||||||||
Acquisition and transaction related costs | 4,227 | 300 | 4,295 | 300 | ||||||||||||
Litigation and select legal costs | 11,812 | 438 | 12,601 | 2,695 | ||||||||||||
Change in fair value of acquisition consideration | — | (3,563 | ) | — | (5,505 | ) | ||||||||||
Total operating expenses | 43,409 | 21,431 | 104,621 | 71,886 | ||||||||||||
OPERATING INCOME (LOSS) | (6,681 | ) | 15,680 | 49,743 | 84,545 | |||||||||||
OTHER INCOME (EXPENSE) | ||||||||||||||||
Interest income | 2 | — | 5 | 15 | ||||||||||||
Interest expense | (256 | ) | (444 | ) | (969 | ) | (1,450 | ) | ||||||||
RADx grant income | — | — | — | 1,000 | ||||||||||||
Other, net | 333 | 59 | 905 | (1,515 | ) | |||||||||||
Total other income (expense), net | 79 | (385 | ) | (59 | ) | (1,950 | ) | |||||||||
EARNINGS (LOSS) BEFORE INCOME TAXES | (6,602 | ) | 15,295 | 49,684 | 82,595 | |||||||||||
INCOME TAX PROVISION | 736 | 3,626 | 12,930 | 17,845 | ||||||||||||
NET EARNINGS (LOSS) | $ | (7,338 | ) | $ | 11,669 | $ | 36,754 | $ | 64,750 | |||||||
BASIC EARNINGS (LOSS) PER COMMON SHARE | $ | (0.17 | ) | $ | 0.27 | $ | 0.84 | $ | 1.50 | |||||||
DILUTED EARNINGS (LOSS) PER COMMON SHARE | $ | (0.16 | ) | $ | 0.26 | $ | 0.83 | $ | 1.47 | |||||||
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC | 43,586 | 43,334 | 43,526 | 43,226 | ||||||||||||
EFFECT OF DILUTIVE STOCK OPTIONS AND RESTRICTED SHARE UNITS | 888 | 763 | 704 | 780 | ||||||||||||
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED | 44,474 | 44,097 | 44,230 | 44,006 | ||||||||||||
ANTI-DILUTIVE SECURITIES: | ||||||||||||||||
Common share options and restricted share units | 79 | 190 | 188 | 180 | ||||||||||||
Three Months Ended December 31, | ||||||||
2021 | 2020 | |||||||
NET EARNINGS | $ | 15,340 | $ | 26,779 | ||||
Other comprehensive (loss) income: | ||||||||
Foreign currency translation adjustment | (58 | ) | 3,301 | |||||
Unrealized gain on cash flow hedge | 550 | 21 | ||||||
Reclassification of amortization of gain on cash flow hedge | 0 | (77 | ) | |||||
Income taxes related to items of other comprehensive (loss) income | (135 | ) | 14 | |||||
Other comprehensive income, net of tax | 357 | 3,259 | ||||||
COMPREHENSIVE INCOME | $ | 15,697 | $ | 30,038 | ||||
Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||
NET EARNINGS (LOSS) | $ | (7,338 | ) | $ | 11,669 | $ | 36,754 | $ | 64,750 | |||||||
Other comprehensive income (loss): | ||||||||||||||||
Foreign currency translation adjustment | (5,166 | ) | 41 | (7,044 | ) | 3,421 | ||||||||||
Reclassification of realized gain on cash flow hedge | — | — | (935 | ) | — | |||||||||||
Unrealized gain on cash flow hedge | 216 | 9 | 2,201 | 469 | ||||||||||||
Reclassification of amortization of gain on cash flow hedge | — | — | — | (154 | ) | |||||||||||
Income taxes related to items of other comprehensive income (loss) | (53 | ) | (2 | ) | (310 | ) | (68 | ) | ||||||||
Other comprehensive income (loss), net of tax | (5,003 | ) | 48 | (6,088 | ) | 3,668 | ||||||||||
COMPREHENSIVE INCOME (LOSS) | $ | (12,341 | ) | $ | 11,717 | $ | 30,666 | $ | 68,418 | |||||||
Three Months Ended December 31, | ||||||||
2021 | 2020 | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
Net earnings | $ | 15,340 | $ | 26,779 | ||||
Non-cash items included in net earnings: | ||||||||
Depreciation of property, plant and equipment | 1,700 | 1,508 | ||||||
Amortization of intangible assets | 2,483 | 2,221 | ||||||
Stock-based compensation | 1,903 | 1,241 | ||||||
Deferred income taxes | 927 | (852 | ) | |||||
Change in fair value of acquisition consideration | 0 | 1,047 | ||||||
Change in the following: | ||||||||
Accounts receivable | 9,424 | (1,776 | ) | |||||
Inventories | 2,093 | (5,941 | ) | |||||
Prepaid expenses and other current assets | 200 | 2,682 | ||||||
Accounts payable and accrued expenses | 1,018 | (5,826 | ) | |||||
Income taxes payable | 1,113 | 4,032 | ||||||
Other, net | (646 | ) | 6 | |||||
Net cash provided by operating activities | 35,555 | 25,121 | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
Purchase of property, plant and equipment | (1,708 | ) | (2,086 | ) | ||||
Payment of acquisition consideration holdback | 0 | (5,000 | ) | |||||
Net cash used in investing activities | (1,708 | ) | (7,086 | ) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
Payment on revolving credit facility | (10,000 | ) | (10,000 | ) | ||||
Payment of deferred financing costs | (404 | ) | 0 | |||||
Proceeds from exercise of stock options | 80 | — | ||||||
Employee taxes paid upon net share settlement of restricted share units | (763 | ) | 0 | |||||
Net cash used in financing activities | (11,087 | ) | (10,000 | ) | ||||
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 198 | 1,644 | ||||||
Net Increase in Cash and Cash Equivalents | 22,958 | 9,679 | ||||||
Cash and Cash Equivalents at Beginning of Period | 49,771 | 53,514 | ||||||
Cash and Cash Equivalents at End of Period | $ | 72,729 | $ | 63,193 | ||||
Nine Months Ended June 30, | ||||||||
2022 | 2021 | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
Net earnings | $ | 36,754 | $ | 64,750 | ||||
Non-cash items included in net earnings: | ||||||||
Depreciation of property, plant and equipment | 5,009 | 4,729 | ||||||
Amortization of intangible assets | 7,433 | 6,453 | ||||||
Stock-based compensation | 5,006 | 3,170 | ||||||
Deferred income taxes | 2,248 | (35 | ) | |||||
Estimated litigation costs | 10,000 | — | ||||||
Change in fair value of acquisition consideration | — | (5,505 | ) | |||||
Change in the following: | ||||||||
Accounts receivable | 7,933 | (2,363 | ) | |||||
Inventories | 4,473 | (11,831 | ) | |||||
Prepaid expenses and other current assets | (1,401 | ) | (1,965 | ) | ||||
Accounts payable and accrued expenses | 4,800 | (2,252 | ) | |||||
Income taxes payable | (1,515 | ) | (2,317 | ) | ||||
Other, net | (366 | ) | (448 | ) | ||||
Net cash provided by operating activities | 80,374 | 52,386 | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
Purchase of property, plant and equipment | (5,138 | ) | (16,407 | ) | ||||
Acquisition, net of cash acquired and holdback | (3,750 | ) | — | |||||
Payment of acquisition consideration holdback | — | (5,000 | ) | |||||
Net cash used in investing activities | (8,888 | ) | (21,407 | ) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
Payment on revolving credit facility | (35,000 | ) | (18,824 | ) | ||||
Payment of deferred financing costs | (404 | ) | — | |||||
Proceeds from exercise of stock options | 2,438 | 2,939 | ||||||
Employee taxes paid upon stock option exercises and net share settlement of restricted share units | (865 | ) | — | |||||
Net cash used in financing activities | (33,831 | ) | (15,885 | ) | ||||
Effect of Exchange Rate Changes on Cash and Cash Equivalents | (3,939 | ) | 1,404 | |||||
Net Increase in Cash and Cash Equivalents | 33,716 | 16,498 | ||||||
Cash and Cash Equivalents at Beginning of Period | 49,771 | 53,514 | ||||||
Cash and Cash Equivalents at End of Period | $ | 83,487 | $ | 70,012 | ||||
December 31, 2021 (Unaudited) | September 30, 2021 | |||||||
CURRENT ASSETS | ||||||||
Cash and cash equivalents | $ | 72,729 | $ | 49,771 | ||||
Accounts receivable, less allowances of $1,293 and $1,078, | 44,300 | 53,568 | ||||||
Inventories, net | 74,198 | 76,842 | ||||||
Prepaid expenses and other current assets | 12,426 | 12,626 | ||||||
Total current assets | 203,653 | 192,807 | ||||||
PROPERTY, PLANT AND EQUIPMENT, at Cost | ||||||||
Land | 987 | 989 | ||||||
Buildings and improvements | 33,009 | 32,765 | ||||||
Machinery, equipment and furniture | 79,438 | 78,410 | ||||||
Construction in progress | 10,352 | 9,991 | ||||||
Subtotal | 123,786 | 122,155 | ||||||
Less: accumulated depreciation and amortization | 80,500 | 78,941 | ||||||
Property, plant and equipment, net | 43,286 | 43,214 | ||||||
OTHER ASSETS | ||||||||
Goodwill | 114,713 | 114,668 | ||||||
Other intangible assets, net | 81,658 | 84,151 | ||||||
Right-of-use | 5,431 | 5,786 | ||||||
Deferred income taxes | 8,813 | 8,731 | ||||||
Other assets | 1,086 | 365 | ||||||
Total other assets | 211,701 | 213,701 | ||||||
TOTAL ASSETS | $ | 458,640 | $ | 449,722 | ||||
June 30, 2022 (Unaudited) | September 30, 2021 | |||||||
CURRENT ASSETS | ||||||||
Cash and cash equivalents | $ | 83,487 | $ | 49,771 | ||||
Accounts receivable, less allowances of $1,071 and $1,078, respectively | 44,911 | 53,568 | ||||||
Inventories, net | 70,105 | 76,842 | ||||||
Prepaid expenses and other current assets | 13,966 | 12,626 | ||||||
Total current assets | 212,469 | 192,807 | ||||||
PROPERTY, PLANT AND EQUIPMENT, at Cost | ||||||||
Land | 976 | 989 | ||||||
Buildings and improvements | 32,917 | 32,765 | ||||||
Machinery, equipment and furniture | 79,939 | 78,410 | ||||||
Construction in progress | 9,049 | 9,991 | ||||||
Subtotal | 122,881 | 122,155 | ||||||
Less: accumulated depreciation and amortization | 79,712 | 78,941 | ||||||
Property, plant and equipment, net | 43,169 | 43,214 | ||||||
OTHER ASSETS | ||||||||
Goodwill | 117,201 | 114,668 | ||||||
Other intangible assets, net | 76,607 | 84,151 | ||||||
Right-of-use | 6,680 | 5,786 | ||||||
Deferred income taxes | 8,043 | 8,731 | ||||||
Other assets | 1,759 | 365 | ||||||
Total other assets | 210,290 | 213,701 | ||||||
TOTAL ASSETS | $ | 465,928 | $ | 449,722 | ||||
December 31, 2021 (Unaudited) | September 30, 2021 | |||||||
CURRENT LIABILITIES | ||||||||
Accounts payable | $ | 16,293 | $ | 11,701 | ||||
Accrued employee compensation costs | 12,029 | 16,853 | ||||||
Accrued product recall costs | 4,269 | 5,100 | ||||||
Acquisition consideration | 1,000 | 0 | ||||||
Current operating lease obligations | 2,057 | 1,990 | ||||||
Current government grant obligations | 765 | 638 | ||||||
Other accrued expenses | 8,667 | 7,027 | ||||||
Income taxes payable | 4,866 | 3,848 | ||||||
Total current liabilities | 49,946 | 47,157 | ||||||
NON-CURRENT LIABILITIES | ||||||||
Acquisition consideration | 0 | 1,000 | ||||||
Post-employment benefits | 2,169 | 2,253 | ||||||
Long-term operating lease obligations | 3,529 | 3,932 | ||||||
Long-term debt | 50,000 | 60,000 | ||||||
Government grant obligations | 5,068 | 5,176 | ||||||
Long-term income taxes payable | 469 | 469 | ||||||
Deferred income taxes | 2,067 | 1,055 | ||||||
Other non-current liabilities | 173 | 378 | ||||||
Total non-current liabilities | 63,475 | 74,263 | ||||||
COMMITMENTS AND CONTINGENCIES | 0 | 0 | ||||||
SHAREHOLDERS’ EQUITY | ||||||||
Preferred stock, 0 par value; 1,000,000 shares authorized; NaN issued | 0— | 0— | ||||||
Common shares, 0 par value; 71,000,000 shares authorized, 43,514,258 and 43,361,898 shares issued and outstanding, respectively | 0— | 0— | ||||||
Additional paid-in capital | 148,623 | 147,403 | ||||||
Retained earnings | 196,041 | 180,701 | ||||||
Accumulated other comprehensive income | 555 | 198 | ||||||
Total shareholders’ equity | 345,219 | 328,302 | ||||||
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 458,640 | $ | 449,722 | ||||
June 30, 2022 (Unaudited) | September 30, 2021 | |||||||
CURRENT LIABILITIES | ||||||||
Accounts payable | $ | 15,359 | $ | 11,701 | ||||
Accrued employee compensation costs | 19,697 | 16,853 | ||||||
Accrued product recall costs | 2,359 | 5,100 | ||||||
Accrued estimated litigation cost s | 10,000 | — | ||||||
Current operating lease obligations | 2,025 | 1,990 | ||||||
Current government grant obligations | 1,200 | 638 | ||||||
Other accrued expenses | 7,632 | 7,027 | ||||||
Income taxes payable | 2,075 | 3,848 | ||||||
Total current liabilities | 60,347 | 47,157 | ||||||
NON-CURRENT LIABILITIES | ||||||||
Post-employment benefits | 2,032 | 2,253 | ||||||
Long-term operating lease obligations | 4,773 | 3,932 | ||||||
Long-term debt | 25,000 | 60,000 | ||||||
Government grant obligations | 4,403 | 5,176 | ||||||
Long-term income taxes payable | 527 | 469 | ||||||
Deferred income taxes | 2,644 | 1,055 | ||||||
Other non-current liabilities | 655 | 1,378 | ||||||
Total non-current liabilities | 40,034 | 74,263 | ||||||
COMMITMENTS AND CONTINGENCIES | 0 | 0 | ||||||
SHAREHOLDERS’ EQUITY | ||||||||
Preferred stock, 0 par value; 1,000,000 shares authorized; 0ne issued | 0— | 0— | ||||||
Common shares, 0 par value; 71,000,000 shares authorized, 43,718,576 and 43,361,898 shares issued and outstanding, respectively | 0— | 0— | ||||||
Additional paid-in capital | 154,241 | 147,403 | ||||||
Treasury stock, at cost; 9,655 shares | (259 | ) | — | |||||
Retained earnings | 217,455 | 180,701 | ||||||
Accumulated other comprehensive income (loss) | (5,890 | ) | 198 | |||||
Total shareholders’ equity | 365,547 | 328,302 | ||||||
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 465,928 | $ | 449,722 | ||||
Common Shares | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total Shareholders’ Equity | ||||||||||||||||
Balance at September 30, 2021 | 43,362 | $ | 147,403 | $ | 180,701 | $ | 198 | $ | 328,302 | |||||||||||
Conversion of restricted share units and exercise of stock options | 152 | (683 | ) | — | — | (683 | ) | |||||||||||||
Stock compensation expense | — | 1,903 | — | — | 1,903 | |||||||||||||||
Net earnings | — | — | 15,340 | — | 15,340 | |||||||||||||||
Foreign currency translation adjustment | — | — | — | (58 | ) | (58 | ) | |||||||||||||
Hedging activity, net of tax | — | — | — | 415 | 415 | |||||||||||||||
Balance at December 31, 2021 | 43,514 | $ | 148,623 | $ | 196,041 | $ | 555 | $ | 345,219 | |||||||||||
Balance at September 30, 2020 | 43,069 | $ | 140,195 | $ | 109,294 | $ | (1,860 | ) | $ | 247,629 | ||||||||||
Conversion of restricted share units and exercise of stock options | 55 | (41 | ) | — | — | (41 | ) | |||||||||||||
Stock compensation expense | — | 1,241 | — | — | 1,241 | |||||||||||||||
Net earnings | — | — | 26,779 | — | 26,779 | |||||||||||||||
Foreign currency translation adjustment | — | — | — | 3,301 | 3,301 | |||||||||||||||
Hedging activity, net of tax | — | — | — | (42 | ) | (42 | ) | |||||||||||||
Balance at December 31, 2020 | 43,124 | $ | 141,395 | $ | 136,073 | $ | 1,399 | $ | 278,867 | |||||||||||
Common Shares | Additional Paid-In Capital | Treasury Stock | Retained Earnings | Accumulated Other Comp. Income (Loss) | Total Shareholders’ Equity | |||||||||||||||||||||||
Sh. | Amt. | |||||||||||||||||||||||||||
THREE MONTHS ENDED JUNE 30, 2022 | ||||||||||||||||||||||||||||
Balance at March 31, 2022 | 43,570 | $ | 150,985 | (10 | ) | $ | (259 | ) | $ | 224,793 | $ | (887 | ) | $ | 374,632 | |||||||||||||
Conversion of restricted share units and exercise of stock options | 149 | 1,639 | — | — | — | — | 1,639 | |||||||||||||||||||||
Stock compensation expense | — | 1,617 | — | — | — | — | 1,617 | |||||||||||||||||||||
Net loss | — | — | — | — | (7,338 | ) | — | (7,338 | ) | |||||||||||||||||||
Foreign currency translation adjustment | — | — | — | — | — | (5,166 | ) | (5,166 | ) | |||||||||||||||||||
Hedging activity, net of tax | — | — | — | — | — | 163 | 163 | |||||||||||||||||||||
Balance at June 30, 2022 | 43,719 | $ | 154,241 | (10 | ) | $ | (259 | ) | $ | 217,455 | $ | (5,890 | ) | $ | 365,547 | |||||||||||||
THREE MONTHS ENDED JUNE 30, 2021 | ||||||||||||||||||||||||||||
Balance at March 31, 2021 | 43,329 | $ | 145,338 | — | $ | — | $ | 162,375 | $ | 1,760 | $ | 309,473 | ||||||||||||||||
Conversion of restricted share units and exercise of stock options | 24 | 87 | — | — | — | — | 87 | |||||||||||||||||||||
Stock compensation expense | — | 879 | — | — | — | — | 879 | |||||||||||||||||||||
Net earnings | — | — | — | — | 11,669 | — | 11,669 | |||||||||||||||||||||
Foreign currency translation adjustment | — | — | — | — | — | 41 | 41 | |||||||||||||||||||||
Hedging activity, net of tax | — | — | — | — | — | 7 | 7 | |||||||||||||||||||||
Balance at June 30, 2021 | 43,353 | $ | 146,304 | — | $ | — | $ | 174,044 | $ | 1,808 | $ | 322,156 | ||||||||||||||||
Common Shares Issued | Additional Paid-In Capital | Treasury Stock | Retained Earnings | Accumulated Other Comp. Income (Loss) | Total Shareholders’ Equity | |||||||||||||||||||||||
Sh. | Amt. | |||||||||||||||||||||||||||
NINE MONTHS ENDED JUNE 30, 2022 | ||||||||||||||||||||||||||||
Balance at September 30, 2021 | 43,362 | $ | 147,403 | — | $ | — | $ | 180,701 | $ | 198 | $ | 328,302 | ||||||||||||||||
Conversion of restricted share units and exercise of stock options | 357 | 1,832 | (10 | ) | (259 | ) | — | — | 1,573 | |||||||||||||||||||
Stock compensation expense | — | 5,006 | — | — | — | — | 5,006 | |||||||||||||||||||||
Net earnings | — | — | — | — | 36,754 | — | 36,754 | |||||||||||||||||||||
Foreign currency translation adjustment | — | — | — | — | — | (7,044 | ) | (7,044 | ) | |||||||||||||||||||
Hedging activity, net of tax | — | — | — | — | — | 956 | 956 | |||||||||||||||||||||
Balance at June 30, 2022 | 43,719 | $ | 154,241 | (10 | ) | $ | (259 | ) | $ | 217,455 | $ | (5,890 | ) | $ | 365,547 | |||||||||||||
NINE MONTHS ENDED JUNE 30, 2021 | ||||||||||||||||||||||||||||
Balance at September 30, 2020 | 43,069 | $ | 140,195 | — | $ | — | $ | 109,294 | $ | (1,860 | ) | $ | 247,629 | |||||||||||||||
Conversion of restricted share units and exercise of stock options | 284 | 2,939 | — | — | — | — | 2,939 | |||||||||||||||||||||
Stock compensation expense | — | 3,170 | — | — | — | — | 3,170 | |||||||||||||||||||||
Net earnings | — | — | — | — | 64,750 | — | 64,750 | |||||||||||||||||||||
Foreign currency translation adjustment | — | — | — | — | — | 3,421 | 3,421 | |||||||||||||||||||||
Hedging activity, net of tax | — | — | — | — | — | 247 | 247 | |||||||||||||||||||||
Balance at June 30, 2021 | 43,353 | $ | 146,304 | — | $ | — | $ | 174,044 | $ | 1,808 | $ | 322,156 | ||||||||||||||||
1. | Nature of Business |
2. | Basis of Presentation |
3. | Significant Accounting Policies |
(a) | Recent Accounting Pronouncements – |
(b) | Reclassifications – |
4. | Revenue Recognition |
Three Months Ended December 31, | ||||||||||||
2021 | 2020 | Inc (Dec) | ||||||||||
Diagnostics- | ||||||||||||
Americas | $ | 26,613 | $ | 23,551 | 13 | % | ||||||
EMEA | 6,093 | 6,020 | 1 | % | ||||||||
ROW | 498 | 750 | (34 | )% | ||||||||
Total Diagnostics | 33,204 | 30,321 | 10 | % | ||||||||
Life Science- | ||||||||||||
Americas | 8,137 | 18,755 | (57 | )% | ||||||||
EMEA | 28,648 | 32,311 | (11 | )% | ||||||||
ROW | 18,352 | 11,530 | 59 | % | ||||||||
Total Life Science | 55,137 | 62,596 | (12 | )% | ||||||||
Consolidated | $ | 88,341 | $ | 92,917 | (5 | )% | ||||||
Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||||||||||
2022 | 2021 | Inc (Dec) | 2022 | 2021 | Inc (Dec) | |||||||||||||||||||
Diagnostics- | ||||||||||||||||||||||||
Americas | $ | 38,158 | $ | 24,543 | 55 | % | $ | 98,322 | $ | 73,367 | 34 | % | ||||||||||||
EMEA | 3,836 | 6,251 | (39 | )% | 17,042 | 18,352 | (7 | )% | ||||||||||||||||
ROW | 415 | 395 | 5 | % | 1,352 | 1,740 | (22 | )% | ||||||||||||||||
Total Diagnostics | 42,409 | 31,189 | 36 | % | 116,716 | 93,459 | 25 | % | ||||||||||||||||
Life Science- | ||||||||||||||||||||||||
Americas | 7,314 | 7,419 | (1 | )% | 25,833 | 39,661 | (35 | )% | ||||||||||||||||
EMEA | 8,200 | 15,723 | (48 | )% | 70,188 | 70,084 | — | % | ||||||||||||||||
ROW | 9,848 | 9,180 | 7 | % | 54,606 | 38,488 | 42 | % | ||||||||||||||||
Total Life Science | 25,362 | 32,322 | (22 | )% | 150,627 | 148,233 | 2 | % | ||||||||||||||||
Consolidated | $ | 67,771 | $ | 63,511 | 7 | % | $ | 267,343 | $ | 241,692 | 11 | % | ||||||||||||
Three Months Ended December 31, | ||||||||||||
2021 | 2020 | Inc (Dec) | ||||||||||
Diagnostics- | ||||||||||||
Molecular assays | $ | 4,752 | $ | 4,590 | 4 | % | ||||||
Non-molecular assays | 28,452 | 25,731 | 11 | % | ||||||||
Total Diagnostics | $ | 33,204 | $ | 30,321 | 10 | % | ||||||
Life Science- | ||||||||||||
Molecular reagents | $ | 31,488 | $ | 46,029 | (32 | )% | ||||||
Immunological reagents | 23,649 | 16,567 | 43 | % | ||||||||
Total Life Science | $ | 55,137 | $ | 62,596 | (12 | )% | ||||||
Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||||||||||
2022 | 2021 | Inc (Dec) | 2022 | 2021 | Inc (Dec) | |||||||||||||||||||
Diagnostics- | ||||||||||||||||||||||||
Molecular assays | $ | 4,876 | $ | 4,383 | 11 | % | $ | 14,039 | $ | 13,368 | 5 | % | ||||||||||||
Non-molecular assays | 37,533 | 26,806 | 40 | % | 102,677 | 80,091 | 28 | % | ||||||||||||||||
Total Diagnostics | 42,409 | 31,189 | 36 | % | 116,716 | 93,459 | 25 | % | ||||||||||||||||
Life Science- | ||||||||||||||||||||||||
Molecular reagents | 7,743 | 20,385 | (62 | )% | 79,531 | 104,016 | (24 | )% | ||||||||||||||||
Immunological reagents | 17,619 | 11,937 | 48 | % | 71,096 | 44,217 | 61 | % | ||||||||||||||||
Total Life Science | 25,362 | 32,322 | (22 | )% | 150,627 | 148,233 | 2 | % | ||||||||||||||||
Consolidated | $ | 67,771 | $ | 63,511 | 7 | % | $ | 267,343 | $ | 241,692 | 11 | % | ||||||||||||
Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||||||||||
2022 | 2021 | Inc (Dec) | 2022 | 2021 | Inc (Dec) | |||||||||||||||||||
Diagnostics- | ||||||||||||||||||||||||
Gastrointestinal assays | $ | 22,715 | $ | 17,844 | 27 | % | $ | 64,704 | $ | 48,962 | 32 | % | ||||||||||||
Respiratory illness assays | 5,488 | 3,742 | 47 | % | 21,359 | 12,233 | 75 | % | ||||||||||||||||
Blood chemistry assays | 6,431 | 4,254 | 51 | % | 9,762 | 13,006 | (25 | )% | ||||||||||||||||
Other | 7,775 | 5,349 | 45 | % | 20,891 | 19,258 | 8 | % | ||||||||||||||||
Total Diagnostics | $ | 42,409 | 31,189 | 36 | % | $ | 116,716 | 93,459 | 25 | % | ||||||||||||||
Three Months Ended December 31, | ||||||||||||
2021 | 2020 | Inc (Dec) | ||||||||||
Diagnostics- | ||||||||||||
Gastrointestinal assays | $ | 21,619 | $ | 15,452 | 40 | % | ||||||
Respiratory illness assays | 6,380 | 4,806 | 33 | % | ||||||||
Blood chemistry assays | 78 | 4,394 | (98 | )% | ||||||||
Other | 5,127 | 5,669 | (10 | )% | ||||||||
Total Diagnostics | $ | 33,204 | $ | 30,321 | 10 | % | ||||||
5. | Fair Value Measurements |
6. | Business Combinations |
Three Months Ended December 31, | 2021 | 2020 | ||||||
Net revenues | $ | 88,341 | $ | 97,824 | ||||
Net earnings | 15,340 | 28,014 |
Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||
Net revenues | $ | 67,771 | $ | 69,920 | $ | 267,343 | $ | 258,777 | ||||||||
Net earnings (loss) | (7,338 | ) | 13,685 | 36,754 | 69,737 |
7. | Lead Testing Matters |
8. | Cash and Cash Equivalents |
December 31, 2021 | September 30, 2021 | |||||||
Institutional money market funds | $ | 1,020 | $ | 1,020 | ||||
Cash on hand, unrestricted | 71,709 | 48,751 | ||||||
Total | $ | 72,729 | $ | 49,771 | ||||
June 30, 2022 | September 30, 2021 | |||||||
Institutional money market funds | $ | 1,021 | $ | 1,020 | ||||
Cash on hand, unrestricted | 82,466 | 48,751 | ||||||
Total | $ | 83,487 | $ | 49,771 | ||||
9. | Inventories, Net |
December 31, 2021 | September 30, 2021 | |||||||||||||||
June 30, 2022 | September 30, 2021 | |||||||||||||||
Raw materials | $ | 15,104 | $ | 14,843 | $ | 15,920 | $ | 14,843 | ||||||||
Work-in-process | 21,479 | 25,072 | 21,492 | 25,072 | ||||||||||||
Finished goods - instruments | 2,699 | 2,260 | 2,259 | 2,260 | ||||||||||||
Finished goods - kits and reagents | 34,916 | 34,667 | 30,434 | 34,667 | ||||||||||||
Total | $ | 74,198 | $ | 76,842 | $ | 70,105 | $ | 76,842 | ||||||||
10. | Goodwill and Other Intangible Assets, Net |
December 31, 2021 | September 30, 2021 | |||||||||||||||
Gross Carrying Value | Accumulated Amortization | Gross Carrying Value | Accumulated Amortization | |||||||||||||
Manufacturing technologies, core products and cell lines | $ | 62,421 | $ | 23,592 | $ | 62,416 | $ | 22,633 | ||||||||
Trade names, licenses and patents | 18,495 | 9,806 | 18,489 | 9,492 | ||||||||||||
Customer lists, customer relationships and supply agreements | 54,954 | 20,887 | 54,941 | 19,649 | ||||||||||||
Non-compete agreements | 110 | 37 | 110 | 31 | ||||||||||||
Total | $ | 135,980 | $ | 54,322 | $ | 135,956 | $ | 51,805 | ||||||||
June 30, 2022 | September 30, 2021 | |||||||||||||||
Gross Carrying Value | Accumulated Amortization | Gross Carrying Value | Accumulated Amortization | |||||||||||||
Manufacturing technologies, core products and cell lines | $ | 62,291 | $ | 25,369 | $ | 62,416 | $ | 22,633 | ||||||||
Trade names, licenses and patents | 18,341 | 10,268 | 18,489 | 9,492 | ||||||||||||
Customer lists, customer relationships and supply agreements | 54,491 | 22,941 | 54,941 | 19,649 | ||||||||||||
Non-compete agreements | 110 | 48 | 110 | 31 | ||||||||||||
Total | $ | 135,233 | $ | 58,626 | $ | 135,956 | $ | 51,805 | ||||||||
11. | Leasing Arrangements |
Three Months Ended December 31, | 2021 | 2020 | ||||||||||||||||||||||
Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||
Lease costs within cost of sales | $ | 225 | $ | 158 | $ | 223 | $ | 213 | $ | 676 | $ | 569 | ||||||||||||
Lease costs within operating expenses | 388 | 374 | 340 | 390 | 1,086 | 1,151 | ||||||||||||||||||
Right-of-use , obtained in exchange for operating lease liabilities | 218 | 80 | ||||||||||||||||||||||
Right-of-use | — | 381 | 3,021 | 1,073 |
December 31, 2021 | September 30, 2021 | |||||||||||||||
June 30, 2022 | September 30, 2021 | |||||||||||||||
Weighted average remaining lease term | 3.3 years | 3.6 years | 4.0 years | 3.6 years | ||||||||||||
Average discount rate | 3.2 | % | 3.2 | % | 3.5 | % | 3.2 | % |
2022 (represents remainder of fiscal year) | $ | 1,687 | ||
2023 | 1,690 | |||
2024 | 1,218 | |||
2025 | 908 | |||
2026 | 316 | |||
Thereafter | 62 | |||
Total lease payments | 5,881 | |||
Less amount of lease payments representing interest | (295 | ) | ||
Total present value of lease payments | $ | 5,586 | ||
2022 (represents remainder of fiscal year) | $ | 556 | ||
2023 | 2,073 | |||
2024 | 1,696 | |||
2025 | 1,403 | |||
2026 | 829 | |||
Thereafter | 723 | |||
Total lease payments | 7,280 | |||
Less amount of lease payments representing interest | (482 | ) | ||
Total present value of lease payments | $ | 6,798 | ||
Three Months Ended December 31, | 2021 | 2020 | ||||||||||||||
Nine Months Ended June 30, | 2022 | 2021 | ||||||||||||||
Cash paid for amounts included in the measurement of lease liabilities: | ||||||||||||||||
Operating cash flows from operating leases | $ | 627 | $ | 494 | $ | 1,784 | $ | 1,611 | ||||||||
12. | Bank Credit Arrangements |
13. | Contingent Obligations and Non-Current Liabilities |
December 31, 2021 | September 30, 2021 | June 30, 2022 | September 30, 2021 | |||||||||||||
Current liabilities | $ | 765 | $ | 638 | $ | 1,200 | $ | 638 | ||||||||
Non-current liabilities | $ | 5,068 | $ | 5,176 | $ | 4,403 | $ | 5,176 |
14. | National Institutes of Health Contracts |
15. | Reportable Segment and Major Customers Information |
Diagnostics | Life Science | Corporate (1) | Eliminations (2) | Total | ||||||||||||||||
Three Months Ended December 31, 2021 | ||||||||||||||||||||
Net revenues - | ||||||||||||||||||||
Third-party | $ | 33,204 | $ | 55,137 | $ | — | $ | — | $ | 88,341 | ||||||||||
Inter-segment | 34 | 55 | — | (89 | ) | — | ||||||||||||||
Operating (loss) income | (2,612 | ) | 26,517 | (3,637 | ) | 15 | 20,283 | |||||||||||||
Goodwill (December 31, 2021) | 94,908 | 19,805 | — | — | 114,713 | |||||||||||||||
Other intangible assets, net (December 31, 2021) | 81,656 | 2 | — | — | 81,658 | |||||||||||||||
Total assets (December 31, 2021) | 352,318 | 106,339 | — | (17 | ) | 458,640 | ||||||||||||||
Three Months Ended December 31, 2020 | ||||||||||||||||||||
Net revenues - | ||||||||||||||||||||
Third-party | $ | 30,321 | $ | 62,596 | $ | — | $ | — | $ | 92,917 | ||||||||||
Inter-segment | 69 | 18 | — | (87 | ) | — | ||||||||||||||
Operating (loss) income | (1,182 | ) | 39,797 | (3,963 | ) | 12 | 34,664 | |||||||||||||
Goodwill (September 30, 2021) | 94,904 | 19,764 | — | — | 114,668 | |||||||||||||||
Other intangible assets, net (September 30, 2021) | 84,149 | 2 | — | — | 84,151 | |||||||||||||||
Total assets (September 30, 2021) | 339,208 | 110,536 | — | (22 | ) | 449,722 | ||||||||||||||
Diagnostics | Life Science | Corporate (1) | Eliminations (2) | Total | ||||||||||||||||
Three Months Ended June 30, 2022 | ||||||||||||||||||||
Net revenues - | ||||||||||||||||||||
Third-party | $ | 42,409 | $ | 25,362 | $ | — | $ | — | $ | 67,771 | ||||||||||
Inter-segment | 67 | 43 | — | (110 | ) | — | ||||||||||||||
Operating income (loss) | 3,278 | 9,088 | (19,084 | ) | 37 | (6,681 | ) | |||||||||||||
Goodwill (June 30, 2022) | 94,493 | 22,708 | — | — | 117,201 | |||||||||||||||
Other intangible assets, net (June 30, 2022) | 76,605 | 2 | — | — | 76,607 | |||||||||||||||
Total assets (June 30, 2022) | 347,177 | 118,786 | — | (35 | ) | 465,928 | ||||||||||||||
Three Months Ended June 30, 2021 | ||||||||||||||||||||
Net revenues - | ||||||||||||||||||||
Third-party | $ | 31,189 | $ | 32,322 | $ | — | $ | — | $ | 63,511 | ||||||||||
Inter-segment | 100 | 54 | — | (154 | ) | — | ||||||||||||||
Operating income (loss) | 2,717 | 16,078 | (3,154 | ) | 39 | 15,680 | ||||||||||||||
Goodwill (September 30, 2021) | 94,904 | 19,764 | — | — | 114,668 | |||||||||||||||
Other intangible assets, net (September 30, 2021) | 84,149 | 2 | — | — | 84,151 | |||||||||||||||
Total assets (September 30, 2021) | 339,208 | 110,536 | — | (22 | ) | 449,722 | ||||||||||||||
Nine Months Ended June 30, 2022 | ||||||||||||||||||||
Net revenues - | ||||||||||||||||||||
Third-party | $ | 116,716 | $ | 150,627 | $ | — | $ | — | $ | 267,343 | ||||||||||
Inter-segment | 214 | 130 | — | (344 | ) | — | ||||||||||||||
Operating income (loss) | 3,104 | 75,976 | (29,407 | ) | 70 | 49,743 | ||||||||||||||
Nine Months Ended June 30, 2021 | ||||||||||||||||||||
Net revenues - | ||||||||||||||||||||
Third-party | $ | 93,459 | $ | 148,233 | $ | — | $ | — | $ | 241,692 | ||||||||||
Inter-segment | 285 | 163 | — | (448 | ) | — | ||||||||||||||
Operating income (loss) | 4,400 | 91,832 | (11,754 | ) | 67 | 84,545 | ||||||||||||||
(1) | Includes |
(2) | Eliminations consist of inter-segment transactions. |
Three Months Ended December 31, | 2021 | 2020 | ||||||
Operating (loss) income: | ||||||||
Diagnostics segment | $ | (2,612 | ) | $ | (1,182 | ) | ||
Life Science segment | 26,517 | 39,797 | ||||||
Eliminations | 15 | 12 | ||||||
Total operating income | 23,920 | 38,627 | ||||||
Corporate expenses | (3,637 | ) | (3,963 | ) | ||||
Interest income | 1 | 9 | ||||||
Interest expense | (372 | ) | (534 | ) | ||||
RADx initiative grant income | 0 | 800 | ||||||
Other, net | (161 | ) | (691 | ) | ||||
Consolidated earnings before income taxes | $ | 19,751 | $ | 34,248 | ||||
Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||
Operating income: | ||||||||||||||||
Diagnostics segment | $ | 3,278 | $ | 2,717 | $ | 3,104 | $ | 4,400 | ||||||||
Life Science segment | 9,088 | 16,078 | 75,976 | 91,832 | ||||||||||||
Eliminations | 37 | 39 | 70 | 67 | ||||||||||||
Total segment operating income | 12,403 | 18,834 | 79,150 | 96,299 | ||||||||||||
Corporate operating expenses | (19,084 | ) | (3,154 | ) | (29,407 | ) | (11,754 | ) | ||||||||
Interest income | 2 | — | 5 | 15 | ||||||||||||
Interest expense | (256 | ) | (444 | ) | (969 | ) | (1,450 | ) | ||||||||
RADx initiative grant income | — | — | — | 1,000 | ||||||||||||
Other, net | 333 | 59 | 905 | (1,515 | ) | |||||||||||
Consolidated earnings (loss) before income taxe s | $ | (6,602 | ) | $ | 15,295 | $ | 49,684 | $ | 82,595 | |||||||
Three Months Ended December 31, | 2021 | 2020 | ||||||||||||||||||||||
Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||
Diagnostics | ||||||||||||||||||||||||
Customer A | 10 | % | 12 | % | 7 | % | 10 | % | 8 | % | 11 | % | ||||||||||||
Customer B | 11 | % | 10 | % | 9 | % | 11 | % | 9 | % | 10 | % | ||||||||||||
Customer C | 11 | % | 11 | % | 12 | % | 14 | % | 11 | % | 12 | % | ||||||||||||
Life Science | ||||||||||||||||||||||||
Customer D | 14 | % | 19 | % | 14 | % | 9 | % | 7 | % | 7 | % | ||||||||||||
Customer E | 23 | % | 2 | % | 1 | % | 4 | % | 11 | % | 12 | % | ||||||||||||
Customer F | 17 | % | 3 | % | 21 | % | 2 | % |
Three Months Ended December 31, | 2021 | 2020 | ||||||
Life Science | ||||||||
Customer D | 9 | % | 13 | % | ||||
Customer E | 14 | % | 2 | % |
16. | Income Taxes |
17. | Subsequent Event |
- | By Reportable Segment & Geographic Region |
- | By Product Platform/Type |
Three Months Ended December 31, | ||||||||||||
2021 | 2020 | Change | ||||||||||
Gross Profit | $ | 49,159 | $ | 61,548 | (20 | )% | ||||||
Gross Profit Margin | 56 | % | 66 | % | -10 points |
Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||||||||||
2022 | 2021 | Change | 2022 | 2021 | Change | |||||||||||||||||||
Gross profit | $ | 36,728 | $ | 37,111 | (1 | )% | $ | 154,364 | $ | 156,431 | (1 | )% | ||||||||||||
Gross profit margin | 54 | % | 58 | % | -4 points | 58 | % | 65 | % | -7 points |
Research & Development | Selling & Marketing | General & Administrative | Other | Total Operating Expenses | Three Months Ended June 30, | |||||||||||||||||||||||||||||||||||
Fiscal 2021 First Quarter: | ||||||||||||||||||||||||||||||||||||||||
Research & Development | Selling & Marketing | General & Administrative | Other | Total Operating Expenses | ||||||||||||||||||||||||||||||||||||
Fiscal 2021: | Fiscal 2021: | |||||||||||||||||||||||||||||||||||||||
Diagnostics | $ | 5,070 | $ | 5,728 | $ | 5,748 | $ | 1,047 | $ | 17,593 | $ | 5,463 | $ | 4,966 | $ | 5,933 | $ | (3,263 | ) | $ | 13,099 | |||||||||||||||||||
Life Science | 581 | 1,293 | 3,454 | — | 5,328 | 620 | 1,243 | 3,315 | — | 5,178 | ||||||||||||||||||||||||||||||
Corporate | — | — | 2,736 | 1,227 | 3,963 | — | — | 2,716 | 438 | 3,154 | ||||||||||||||||||||||||||||||
Total 2021 First Quarter Expenses | $ | 5,651 | $ | 7,021 | $ | 11,938 | $ | 2,274 | $ | 26,884 | ||||||||||||||||||||||||||||||
Total Expenses (2021 Quarter) | $ | 6,083 | $ | 6,209 | $ | 11,964 | $ | (2,825 | ) | $ | 21,431 | |||||||||||||||||||||||||||||
Fiscal 2022 First Quarter: | ||||||||||||||||||||||||||||||||||||||||
Fiscal 2022: | Fiscal 2022: | |||||||||||||||||||||||||||||||||||||||
Diagnostics | $ | 5,556 | $ | 6,009 | $ | 7,143 | $ | — | $ | 18,708 | $ | 5,228 | $ | 6,353 | $ | 7,130 | $ | — | $ | 18,711 | ||||||||||||||||||||
Life Science | 638 | 1,732 | 4,161 | — | 6,531 | 815 | 1,825 | 2,935 | 39 | 5,614 | ||||||||||||||||||||||||||||||
Corporate | — | — | 3,356 | 281 | 3,637 | — | — | 3,084 | 16,000 | 19,084 | ||||||||||||||||||||||||||||||
Total 2022 First Quarter Expenses | $ | 6,194 | $ | 7,741 | $ | 14,660 | $ | 281 | $ | 28,876 | ||||||||||||||||||||||||||||||
Total Expenses (2022 Quarter) | $ | 6,043 | $ | 8,178 | $ | 13,149 | $ | 16,039 | $ | 43,409 | ||||||||||||||||||||||||||||||
Nine Months Ended June 30, | ||||||||||||||||||||
Research & Development | Selling & Marketing | General & Administrative | Other | Total Operating Expenses | ||||||||||||||||
Fiscal 2021: | ||||||||||||||||||||
Diagnostics | $ | 16,011 | $ | 15,914 | $ | 17,790 | $ | (5,205 | ) | $ | 44,510 | |||||||||
Life Science | 1,788 | 3,856 | 9,978 | — | 15,622 | |||||||||||||||
Corporate | — | — | 9,059 | 2,695 | 11,754 | |||||||||||||||
Total Expenses (2021 Year-to-Date) | $ | 17,799 | $ | 19,770 | $ | 36,827 | $ | (2,510 | ) | $ | 71,886 | |||||||||
Fiscal 2022: | ||||||||||||||||||||
Diagnostics | $ | 15,856 | $ | 18,040 | $ | 21,750 | $ | — | $ | 55,646 | ||||||||||
Life Science | 2,072 | 5,393 | 11,996 | 107 | 19,568 | |||||||||||||||
Corporate | — | — | 12,618 | 16,789 | 29,407 | |||||||||||||||
Total Expenses (2022 Year-to-Date) | $ | 17,928 | $ | 23,433 | $ | 46,364 | $ | 16,896 | $ | 104,621 | ||||||||||
101.INS | Inline XBRL Instance Document | ||
101.SCH | Inline XBRL Instance Extension Schema |
101.CAL | Inline XBRL Instance Extension Calculation Linkbase | |
101.DEF | Inline XBRL Instance Extension Definition Linkbase | |
101.LAB | Inline XBRL Instance Extension Label Linkbase | |
101.PRE | Inline XBRL Instance Extension Presentation Linkbase | |
104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
* |
Certain |
MERIDIAN BIOSCIENCE, INC. | ||||||
Date: | By: | /s/ Andrew S. Kitzmiller | ||||
Andrew S. Kitzmiller | ||||||
Executive Vice President and Chief Financial Officer (Principal Financial Officer) | ||||||
Date: August 5, 2022 | By: | /s/ Julie Smith | ||||
Julie Smith | ||||||
Senior Vice President and Controller (Principal Accounting Officer) |