v3.22.4
Segment Information
6 Months Ended
Dec. 31, 2022
Segment Information  
Segment Information

12. Segment Information

We have determined that we operate in three identifiable industry segments: (a) security and inspection systems (Security division), (b) medical monitoring systems (Healthcare division) and (c) optoelectronic devices and manufacturing (Optoelectronics and Manufacturing division). We also have a corporate segment (Corporate) that includes executive compensation and certain other general and administrative expenses, expenses related to stock issuances and legal, audit and other professional service fees not allocated to industry segments. Both the Security and Healthcare divisions comprise primarily end-product businesses, whereas the Optoelectronics and Manufacturing division primarily supplies components and subsystems to external OEM customers, as well as to the Security and Healthcare divisions. Sales between divisions are at transfer prices that approximate market values. All other accounting policies for the segments are the same as described in Note 1, Basis of Presentation.

The following tables present our results of operations and identifiable assets by industry segment (in thousands):

Three Months Ended

Six Months Ended

December 31, 

December 31, 

    

2021

    

2022

    

2021

    

2022

Revenues (1) —by Segment:

Security division

$

145,918

$

167,444

$

295,435

$

312,436

Healthcare division

52,425

43,520

103,013

87,083

Optoelectronics and Manufacturing division, including intersegment revenues

91,490

98,709

183,795

192,625

Intersegment revenues elimination

(13,152)

(14,076)

(26,305)

(28,476)

Total

$

276,681

$

295,597

$

555,938

$

563,668

Income (loss) from operations —by Segment:

Security division

$

18,171

$

21,593

$

39,764

$

36,518

Healthcare division

7,030

1,404

12,950

3,032

Optoelectronics and Manufacturing division

13,382

12,212

23,165

23,470

Corporate

(9,663)

(9,276)

(22,126)

(19,424)

Intersegment eliminations

166

(442)

13

195

Total

$

29,086

$

25,491

$

53,766

$

43,791

June 30, 

December 31, 

    

2022

    

2022

Assets (2) —by Segment:

Security division

$

839,769

$

881,875

Healthcare division

 

231,423

 

217,676

Optoelectronics and Manufacturing division

 

301,483

 

317,773

Corporate

 

104,834

 

83,786

Eliminations (3)

 

(34,359)

 

(34,880)

Total

$

1,443,150

$

1,466,230

(1)For each of the three and six month periods ended December 31, 2021 and 2022, no customer accounted for greater than 10% of total net revenues.
(2)As of June 30, 2022 and December 31, 2022, no customer accounted for greater than 10% of accounts receivable.
(3)Eliminations in assets reflect the amount of inter-segment profits in inventory and inter-segment ROU assets under ASC 842 as of the balance sheet date. Such inter-segment profit will be realized when inventory is shipped to the external customers of the Security and Healthcare divisions.