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2,477,667 paragraphs from 10-Ks, 10-Qs and 8-Ks with press releases.
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Restructuring and restructuring-related costs by segment are as follows (in thousands):
Read in the filing ↗ Also in 10-Q of Nov 6, 2026
The restructuring and restructuring-related changes for periods presented were recorded in the Consolidated Statements of Earnings and Comprehensive Income as follows (in thousands):
Read in the filing ↗ Also in 10-K of Aug 24, 2026
The following table summarizes the changes in the Company’s accrued restructuring balance, which is included within Other current liabilities in the accompanying balance sheet. Other amounts reported as restructuring and restructuring-related costs in the accompanying statements of income have been summarized in the notes to the table (in thousands):
Read in the filing ↗ Also in 10-K of Aug 24, 2026, 10-Q of Nov 6, 2026, 10-Q of Nov 5, 2025, 10-Q of Feb 4, 2026, 10-Q of May 6, 2026, 10-K of Aug 24, 2026, 10-Q of May 6, 2026, 10-Q of Nov 5, 2025, 10-Q of Feb 4, 2026, 10-Q of Nov 6, 2026, 10-Q of May 8, 2025, 10-K of Aug 24, 2026
Consolidated net earnings for fiscal 2025 decreased 56% compared to fiscal 2024. The decrease in earnings was impacted by a non-recurring loss on an arbitration award, impairment of assets held-for-sale, and restructuring and restructuring-related charges. After adjusting for cost recognized upon sale of acquired inventory, intangibles amortization, acquisition-related costs, certain litigation charges, gain on sale of investments, stock-based compensation, restructuring and restructuring-related costs, impairment of assets held-for-sale, and impact of business held-for-sale, adjusted net earnings
Read in the filing ↗ Also in 10-K of Aug 24, 2026
A reconciliation of the reported consolidated gross margin percentages, adjusted for acquired inventory sold, intangible amortization included in Cost of sales, restructuring and restructuring-related expenses, and impact of business held-for-sale is as follows:
Read in the filing ↗ Also in 10-Q of Nov 5, 2025, 10-Q of May 8, 2025, 10-Q of Feb 4, 2026, 10-Q of May 6, 2026, 10-K of Aug 24, 2026
Restructuring actions: Restructuring actions generally include significant actions involving employee-related severance charges, contract termination costs, and impairments and disposals of assets associated with such actions. Employee-related severance charges are based upon distributed employment policies and substantive severance plans. These charges are reflected in the quarter when the actions are probable and the amounts are estimable, which typically is when management approves the associated actions. Asset-related and other charges include impairment of right-of-use assets, leasehold improvements, other asset write-downs associated with combining operations, disposal of assets and other exit costs. Other costs also includes restructuring-related charges, which are incremental costs incurred directly supporting business transformation initiatives tied to the restructuring action. Refer to Note 14 for additional information regarding restructuring actions.
Read in the filing ↗ Also in 10-K of Aug 24, 2026
The restructuring and restructuring-related charges for periods presented were recorded in the Consolidated Statements of Earnings and Comprehensive Income as follows (in thousands): Year Ended June 30, ─────────────────────────────────────────────────────────────────── 2025 Cost of sales $ 11,471 Selling, general and administrative 84,160 Total $ 95,631 Restructuring and restructuring-related costs by segment are as follows (in thousands): Year ended June 30, 2025 …
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A reconciliation of the reported consolidated gross margin percentages, adjusted for intangible amortization, stock compensation expense, restructuring and restructuring-related charges, and the impact of businesses held-for-sale included in Cost of sales, is as follows (in thousands):
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Selling, general and administrative expenses increased $88.0 million (23%) in fiscal 2024 when compared to fiscal 2023. Selling, general, and administrative expenses increased primarily due to the Lunaphore acquisition, impairment of assets held-for-sale, certain litigation charges, restructuring and restructuring-related charges, and CEO transition charges.
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Accrued restructuring actions balance as of September 30, 2024 $ 2,663 $ - $ 2,663
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Accrued restructuring actions balance as of December 31, 2024 $ 1,657 $ - $ 1,657
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Employee severance Expense incurred in fiscal year 2023 $ 1,677 Fiscal year 2023 cash payments (762) Fiscal year 2023 adjustments (18) Accrued restructuring actions balance as of June 30, 2023 $ 897 Fiscal year 2024 cash payments (1,118) Fiscal year 2024 adjustments(1) 221 Accrued restructuring actions balance as of June 30, 2024 $ —
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The restructuring and restructuring-related charges, including the impairment (recovery) of assets held-for-sale, for periods presented were recorded in the Consolidated Statements of Earnings and Comprehensive Income as follows (in thousands): Year Ended June 30, 2025 2024 Cost of sales $ - $3,349 ──────────────────────────────────────────────────────────────────────────────────── Selling, general and administrative(1) (1,191) 30,638 Total $ (1,191) $33,987 (1) Restructuring …
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(1)Restructuring actions impacting research and development are not material to separately disclose and have been included within Selling, general and administrative costs.
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… Other costs also includes restructuring-related charges, which are incremental costs incurred directly supporting business transformation initiatives tied to the restructuring action. Fiscal Year 2025 Restructuring Actions: In the first quarter of fiscal 2025, the Company announced enterprise-wide restructuring focused on recovering operating margins and optimizing our manufacturing footprint. The Company is expecting to incur costs related to these …
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Consolidated gross margin for the quarter ended September 30, 2026 was 65.6% compared to 65.6% for the same prior year period. Excluding the impact of amortization of intangibles, stock-based compensation expense, restructuring and restructuring-related costs, and the impact of businesses held-for-sale, adjusted gross margin for the quarter ended September 30, 2026 was 69.3% compared to 70.2% for the quarter ended September 30, 2025.
Read in the filing ↗ Also in 10-Q of Nov 5, 2025
Consolidated gross margins were 65.8%, 64.8%, and 66.4% in fiscal 2026, 2025, and 2024, respectively. Consolidated gross margin in fiscal 2026 was impacted by decreased restructuring-related costs for manufacturing optimization from the prior period. Excluding the impact of acquired inventory sold, amortization of intangibles, stock compensation expense, restructuring and restructuring-related costs, and the impact of businesses held-for-sale, adjusted gross margins were 69.6%, 70.4%, and 71.0% in fiscal 2026, 2025, and 2024, respectively. Fiscal 2026 consolidated adjusted gross margin was impacted by unfavorable product mix when compared to the prior period. Fiscal 2025 consolidated adjusted gross margin was impacted by the reinstatement of incentive accruals and an unfavorable product mix when compared to the prior period.
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Selling, general and administrative expenses increased 35% to $151.3 million and increased 18% to $391.9 million for the quarter and nine months ended March 31, 2025, respectively, from the same prior year periods. The increase in expense for the quarter and nine months ended March 31, 2025 was primarily due to a non-recurring arbitration award, restructuring and restructuring-related charges, and the re-instatement of incentive compensation accruals, partially offset by cost management initiatives.
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GAAP EPS was $0.46 per diluted share, compared to $1.05 last fiscal year. GAAP operating income for full year fiscal 2025 decreased 51% to $102.3 million, compared to $206.7 million in the full year fiscal 2024. GAAP operating margin was 8.4%, compared to 17.8% in the full year fiscal 2024. GAAP operating margin was unfavorably impacted by impairment of assets held-for-sale, restructuring and restructuring-related costs, and a non-recurring arbitration award.
Read in the filing ↗ Also in 8-K of Aug 7, 2024
… The restructuring and restructuring-related charges for periods presented were recorded in the Condensed Consolidated Statements of Earnings and Comprehensive Income as follows (in thousands): Quarter Ended September 30, ────────────────────────────────────────────────────────────────────────── 2025 Cost of sales $ 1,482 Selling, general and administrative(1) (1,357) Total $ 125 (1) Restructuring actions impacting research and development are not material to separately disclose and have been …
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Employee Asset-related severance(1) and other(2) Total Expense incurred in the first quarter of 2025 $ 2,852 $ 7,417 $ 10,269 Incremental expense incurred in remainder of 2025 593 3,555 4,148 Cash payments (2,223) (1,131) (3,354) Non-cash adjustments $ — $ (9,841) $ (9,841) Accrued restructuring as of June 30, 2025 $ 1,222 $ — $ 1,222 Incremental expense incurred in fiscal 2026 769 386 1,155 Cash payments (1,667) (386) (2,053) Accrued restructuring as of March 31, 2026 $ 324 $ — $ 324
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In August 2022, the Company informed employees of our decision to close our Quad facility as part of a realignment of activities within our Reagent Solutions division. The closure of the site was completed in the fourth quarter of fiscal 2023. As a result of the restructuring activities, an estimated pre-tax charge of $2.2 million was recorded within our Protein Sciences segment for fiscal 2023. The related restructuring charges for fiscal 2023 were recorded in the Consolidated Statements of Earnings and Comprehensive Income as follows (in thousands):
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(2) Primarily relates to impairment of right-of-use assets, lease termination fees, consulting fees, and expenses for changes to supporting IT systems that are enabling the Company to complete the restructuring initiatives.
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Employee Asset severance(1) impairment and other(2) Total Expense incurred in the first quarter of 2025 $ 2,852 $ 7,417 $ 10,269 Incremental expense incurred in remainder of 2025 593 3,555 4,148 Cash payments (2,223) (1,131) (3,354) Non-cash adjustments $ — $ (9,841) $ (9,841) Accrued restructuring actions balance as of June 30, 2025 $ 1,222 $ — $ 1,222 Incremental expense incurred in fiscal 2026 698 341 1,039 Cash payments (1,385) (341) (1,726) Accrued restructuring actions balance as of December 31, 2025 $ 535 $ — $ 535
Read in the filing ↗ Also in 10-Q of Nov 5, 2025
Consolidated net earnings decreased to $22.6 million for the quarter ended March 31, 2025 as compared to $49.1 million for the quarter ended March 31, 2024. The decrease in net earnings is primarily due to a non-recurring arbitration award. Consolidated net earnings decreased to $91.1 million for the nine months ended March 31, 2025 as compared to $127.5 million for the nine months ended March 31, 2024. The decrease in net earnings is primarily due to a non-recurring arbitration award and restructuring and restructuring-related costs.
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Employee Asset severance impairment and other Total Expense incurred in the first quarter of 2023 $ 1,328 $ 842 $ 2,170 Cash payments (1,233) (772) (2,005) Adjustments (95) (70) (165) Accrued restructuring actions balances as of June 30, 2023 $ — $ — $ —
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Quarter Ended September 30, 2025 2024 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────── Total consolidated net sales $ 286,555 $ 289,458 Business held-for-sale(1) 5,439 2,303 Revenue from recurring operations $ 281,116 $ 287,155 Gross margin - GAAP $ 188,112 $ 183,017 Gross margin percentage - GAAP 65.6% 63.2% Identified adjustments: Costs recognized upon sale of acquired inventory $ — $ 188 Amortization of intangibles 9,439 11,779 Stock-based compensation, inclusive of employer taxes 385 272 Restructuring and restructuring-related costs 2,079 4,898 Impact of business held-for-sale(1) (2,581) (558) Adjusted gross margin $ 197,434 $ 199,596 Adjusted gross margin percentage(2) 70.2% 69.5%
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QUARTER ENDED 9/30/2024 9/30/2023 ────────────────────────────────────────────────────────────────────────────── Protein Sciences segment operating $ 80,541 $ 88,361 income Diagnostics and Spatial Biology segment 4,277 527 operating income Segment operating income 84,818 88,888 Corporate general, selling, and -1,586 -1,999 administrative Adjusted operating income 83,232 86,889 Cost recognized upon sale of acquired -188 -181 inventory Amortization of intangibles -19,741 -19,851 Acquisition related expenses and -1,513 588 other Certain litigation charges -292 — Stock-based compensation, inclusive of -10,637 -11,494 employer taxes Restructuring and restructuring-related -11,022 -89 costs Impact of business 148 — held-for-sale1) Operating income $ 39,987 $ 55,862
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For the Quarter Ended September 30, 2026 Protein Sciences Diagnostics and Spatial Biology Total ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Net sales $219,691 $80,164 $299,855 Intersegment (143) Consolidated net sales $299,712 Segment operating income Cost of sales 57,592 34,503 Selling, general and administrative 63,001 29,317 Research and development 15,900 10,447 Segment operating income $83,198 $5,897 $89,095 Unallocated amounts Amortization of intangibles (14,663) Acquisition related expenses and other (17,760) Certain litigation charges (46) Stock based compensation, inclusive of employer taxes (14,757) Restructuring and restructuring-related costs (3,838) Corporate general, selling, and administrative expenses (1,428) Consolidated operating income $36,603
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Our non-GAAP financial measures for adjusted gross margin, adjusted operating margin, adjusted EBITDA, and adjusted net earnings, in total and on a per share basis, exclude stock-based compensation, which is inclusive of the employer portion of payroll taxes on those stock awards, the costs recognized upon the sale of acquired inventory, amortization of acquisition intangibles, and restructuring and …
Read in the filing ↗ Also in 8-K of Nov 5, 2025, 8-K of Feb 4, 2026, 8-K of May 6, 2026
QUARTER ENDED 9/30/2024 9/30/2023 ────────────────────────────────────────────────────────────────────────────── Net earnings $ 33,600 $ 50,993 Net interest expense (income) 1,250 4,003 Depreciation and amortization 28,137 28,540 Income taxes 6,571 -1,435 EBITDA 69,558 82,101 Costs recognized upon sale of acquired 188 181 inventory Amortization of Wilson Wolf intangible 2,490 4,208 assets and acquired inventory Acquisition related expenses and 1,674 -442 other Certain litigation charges 292 — Stock-based compensation, inclusive of 10,637 11,494 employer taxes Restructuring and restructuring-related 11,022 89 costs Investment (gain) loss and other — -283 non-operating Impact of business held-for-sale1) -148 — Adjusted EBITDA $ 95,713 $ 97,348
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Recovery Employee Asset-related of assets severance(1) and other(2) held-for-sale Total Expense incurred in the second quarter of 2024 4,882 504 6,038 11,424 Incremental expense incurred in the remainder of 2024 542 5,877 15,926 22,345 Cash payments (4,882) (2,800) — (7,682) Non-cash adjustments — (3,391) (21,963) (25,354) Adjustments(3) 219 — — 219 Accrued restructuring actions balance as of June 30, 2024 $761 $190 $— $952 Incremental expense incurred in fiscal 2025 213 1,153 (2,557) (1,191) Cash payments (974) (1,343) — (2,317) Non-cash adjustments — — 2,557 2,557 Accrued restructuring actions balance as of June 30, 2025 $— $— $— $—
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Quarter Ended ────────────────────────────────────────────────────────────────────────────── September 30, 2025 2024 Protein Sciences segment operating $ 77,713 $ 80,541 income Diagnostics and Spatial Biology segment 8,878 4,277 operating income Segment operating income 86,591 84,818 Corporate general, selling, and -2,433 -1,586 administrative Adjusted operating income 84,158 83,232 Amortization of intangibles -15,350 -19,741 Acquisition related expenses and -3,351 -1,701 other Certain litigation charges -2,408 -292 Stock-based compensation, inclusive of -12,096 -10,637 employer taxes Restructuring and restructuring-related -7,511 -11,022 costs Recovery of assets held-for-sale 6,789 — Impact of business -2,573 148 held-for-sale(1) Operating income $ 47,658 $ 39,987
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Quarter Ended ────────────────────────────────────────────────────────────────────────────── September 30, 2025 2024 Net earnings $ 38,185 $ 33,600 Net interest expense (income) 1,962 1,250 Depreciation and amortization 24,340 28,137 Income taxes 9,806 6,571 EBITDA 74,293 69,558 Amortization of Wilson Wolf intangible 2,490 2,490 assets Acquisition related expenses and 3,508 1,862 other Certain litigation charges 2,408 292 Stock-based compensation, inclusive of 12,096 10,637 employer taxes Restructuring and restructuring-related 7,511 11,022 costs Investment gain and other non-operating -2,146 — income Recovery of assets held-for-sale -6,789 — Impact of business held-for-sale(1) 2,573 -148 Adjusted EBITDA $ 95,944 $ 95,713
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Our non-GAAP financial measures for adjusted gross margin, adjusted operating margin, and adjusted net earnings, in total and on a per share basis, exclude stock-based compensation, which is inclusive of the employer portion of payroll taxes on those stock awards, the costs recognized upon the sale of acquired inventory, amortization of acquisition intangibles, restructuring and restructuring-related costs …
Read in the filing ↗ Also in 10-Q of Nov 5, 2025, 10-Q of Feb 4, 2026, 10-Q of May 6, 2026, 10-K of Aug 24, 2026, 10-Q of Nov 6, 2026, 10-K of Aug 22, 2025
Consolidated net earnings for fiscal 2026 increased 148% compared to fiscal 2025. The increase in earnings was favorably impacted by a non-recurring impairment charge in the prior year, a non-recurring arbitration award in the prior year, and a recovery of assets held-for-sale. After adjusting for cost recognized upon sale of acquired inventory, intangibles amortization, acquisition-related costs, certain litigation charges, investment loss and other non-operating loss, stock-based compensation, restructuring and restructuring-related costs, impairment (recovery) of assets held-for-sale, and impact of businesses held-for-sale, adjusted net earnings decreased 1% in fiscal 2026 as compared to fiscal 2025. Adjusted net earnings was primarily impacted by unfavorable product mix and pricing pressures.
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Restructuring and restructuring-related costs by segment are as follows (in thousands): Year ended June 30, 2025 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────── Employee Asset-related severance and other Total Protein Sciences $ 2,425 $10,972 $13,397 Diagnostics and Spatial Biology 411 - 411 Corporate 609 - 609 Total $ 3,445 $10,972 $14,417 The following table summarizes the changes in the Company’s accrued restructuring …
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For the Quarter Ended September 30, 2024 Protein Sciences Diagnostics and Spatial Biology Total ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Net sales $204,535 $83,192 $287,727 Other revenue(1) 2,303 Intersegment (572) Consolidated net sales $289,458 Segment operating income Cost of sales 52,498 35,633 Selling, general and administrative 57,132 33,518 Research and development 14,364 9,764 Segment operating income $80,541 $4,277 $84,818 Unallocated amounts Amortization of intangibles (19,741) Acquisition related expenses and other (1,701) Certain litigation charges (292) Stock based compensation, inclusive of employer taxes (10,637) Restructuring and restructuring-related costs (11,022) Corporate general, selling, and administrative expenses (1,586) Impact of business held-for-sale(1) 148 Consolidated operating income $39,987
Read in the filing ↗ Also in 10-Q of Nov 5, 2025, 10-Q of Nov 6, 2026
… Unallocated amounts Amortization of intangibles (18,559) Acquisition related expenses and other (2,195) Certain litigation charges (1,386) Stock based compensation, inclusive of employer taxes (15,238) Restructuring and restructuring-related costs (3,287) Corporate general, selling, and administrative expenses (1,641) Impact of business held-for-sale(1) (627) Consolidated operating income $47,419 (1) Includes the quarterly …
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QUARTER ENDED 9/30/2024 9/30/2023 ────────────────────────────────────────────────────────────────────────────── Net earnings before taxes - $ 40,171 $ 49,558 GAAP Identified adjustments: Costs recognized upon sale of acquired 188 181 inventory Amortization of intangibles 19,741 19,851 Amortization of Wilson Wolf intangible 2,490 4,208 assets and acquired inventory Acquisition related expenses 1,674 -442 and other Certain litigation charges 292 — Stock-based compensation, inclusive of 10,637 11,494 employer taxes Restructuring and restructuring-related 11,022 89 costs Investment (gain) loss and other — -283 non-operating Impact of business -148 — held-for-sale1) Net earnings before taxes - $ 86,067 $ 84,656 Adjusted Non-GAAP tax rate 21.5 % 22.0 % Non-GAAP tax expense $ 18,536 $ 18,615 Non-GAAP adjusted net earnings $ 67,531 $ 66,041 Earnings per share - diluted - $ 0.42 $ 0.41 Adjusted
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Quarter Ended September 30, 2025 2024 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────── Net earnings before taxes - GAAP $ 47,991 $ 40,171 Identified adjustments: Amortization of intangibles 15,350 19,741 Amortization of Wilson Wolf intangible assets 2,490 2,490 Acquisition related expenses and other 3,508 1,862 Certain litigation charges 2,408 292 Stock-based compensation, inclusive of employer taxes 12,096 10,637 Restructuring and restructuring-related costs 7,511 11,022 Investment gain and other non-operating income (2,146) — Recovery of assets held-for-sale (6,789) — Impact of business held-for-sale(1) 2,573 (148) Net earnings before taxes - Adjusted $ 84,992 $ 86,067 Non-GAAP tax rate 22.3% 21.5% Non-GAAP tax expense $ 18,953 $ 18,536 Non-GAAP adjusted net earnings $ 66,039 $ 67,531 Earnings per share - diluted - Adjusted $ 0.42 $ 0.42
Read in the filing ↗ Also in 10-Q of Nov 6, 2026
… Unallocated amounts Amortization of intangibles (18,836) Acquisition related expenses and other (5,159) Certain litigation charges (38,927) Stock based compensation, inclusive of employer taxes (11,629) Restructuring and restructuring-related costs (716) Recovery of assets held-for-sale 3,655 Corporate general, selling, and administrative expenses (2,013) Impact of business held-for-sale(1) - Consolidated operating income …
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Consolidated gross margins were 64.8%, 66.4%, and 67.7% in fiscal 2025, 2024, and 2023. Consolidated gross margin in fiscal year 2025 was impacted by the reinstatement of incentive accruals and product mix. Excluding the impact of acquired inventory sold, amortization of intangibles, stock compensation expense, restructuring and restructuring-related costs, impact of business held-for-sale, and the impact of partially-owned consolidated subsidiaries, adjusted gross margins were 70.4%, 71.0%, and 71.7% in fiscal 2025, 2024, and 2023, respectively. Fiscal 2025 consolidated gross margin was impacted by the resinstatement of incentive accruals and an unfavorable product mix when compared to the prior period. Fiscal 2024 consolidated gross margin was impacted by the Lunaphore acquisition when compared to the prior period. Fiscal 2023 consolidated gross margin was unfavorably impacted by foreign currency exchange and strategic growth investments including the Namocell acquisition.
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… related expenses and other (6,980) Certain litigation charges (3,506) Impairment of assets held-for-sale (21,963) Stock based compensation, inclusive of employer taxes (40,277) Restructuring and restructuring-related costs (12,245) Corporate general, selling, and administrative expenses (9,142) Impact of business held-for-sale(1) 525 Consolidated operating income $206,686 (1) Since December 31 …
Read in the filing ↗ Also in 10-K of Aug 24, 2026
Consolidated gross margins for the quarter and six months ended December 31, 2025 were 64.6% and 65.1%, respectively, compared to 65.3% and 64.3% for the same prior year periods. Excluding the impact of costs recognized upon the sale of acquired inventory, amortization of intangibles, stock-based compensation expense, restructuring and restructuring-related expenses, and the impact of a business held-for-sale, adjusted gross margins for the quarter and six months ended December 31, 2025 were 68.5% and 69.4%, respectively, compared to 70.5% and 70.0% for the quarter and six months ended December 31, 2024, respectively. Fluctuations in consolidated gross margin and adjusted gross margin, as a percentage of sales, have primarily resulted from changes in product mix. We expect that, in the future, gross margins will continue to be impacted by the mix of our portfolio growing at different rates.
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Consolidated gross margins for the quarter and nine months ended March 31, 2026 were 66.9% and 65.7%, respectively, compared to 67.9% and 65.5% for the same prior year periods. Excluding the impact of costs recognized upon the sale of acquired inventory, amortization of intangibles, stock-based compensation expense, restructuring and restructuring-related expenses, and the impact of a business held-for-sale, adjusted gross margins for the quarter and nine months ended March 31, 2026 were 70.4% and 69.7%, respectively, compared to 71.6% and 70.6% for the quarter and nine months ended March 31, 2025, respectively. Fluctuations in consolidated gross margin and adjusted gross margin, as a percentage of sales, have primarily resulted from changes in product mix. We expect that, in the future, gross margins will continue to be impacted by the mix of our portfolio growing at different rates.
Read in the filing ↗ Also in 10-Q of May 8, 2025
During the fourth quarter, management engaged in a series of restructuring activities to optimize certain reporting structures and internal functions. These activities included a focus on a streamlined brand architecture, realignment of functions supporting the different brands, including operations, and our people. The Company is expecting to incur costs related to these actions through fiscal 2027, which will be recorded when specified criteria are met.
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… Fiscal 2025 Restructuring Actions: During the fourth quarter of fiscal 2025, management engaged in a series of restructuring activities to optimize components of our global manufacturing processes. These activities included adjusting manufacturing locations and protocols of certain products to better align with geographical and customer demand. The Company is expecting to incur costs related to these actions through fiscal 2027 …
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… Fiscal 2025 Restructuring Actions: During the fourth quarter of fiscal 2025, management engaged in a series of restructuring activities to optimize components of our global manufacturing processes. These activities included adjusting manufacturing locations and protocols of certain products to better align with geographical and customer demand. The Company is expecting to incur costs related to these actions through fiscal 2027 …
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The following is financial information relating to the operating segments (in thousands): For the Year Ended June 30, 2026 Protein Sciences Diagnostics and Spatial Biology Total ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Net sales $874,620 $336,365 $1,210,985 Other revenue(1) 5,439 Intersegment (1,385) Consolidated net sales $1,215,039 Segment operating income Cost of sales 218,837 150,553 Selling, general and administrative 238,994 111,794 Research and development 57,388 36,320 Segment operating income $359,401 $37,698 $397,099 Unallocated amounts Amortization of intangibles (61,181) Acquisition related expenses and other (7,986) Certain litigation charges (5,513) Stock based compensation, inclusive of employer taxes (42,637) Restructuring and restructuring-related costs (21,059) Recovery of assets held-for-sale 6,789 Corporate general, selling, and administrative expenses (11,049) Impact of business held-for-sale(1) (2,573) Consolidated operating income $251,890 (1) Since June 30, 2025, the Company has had a business that has met the held-for-sale criteria. Segment results exclude the results of this business held-for-sale for fiscal 2026.
Read in the filing ↗ Also in 10-K of Aug 22, 2025
GAAP EPS was $0.24 per diluted share, compared to $0.21 in the same quarter last year. GAAP operating income for the first quarter of fiscal 2026 increased 19% to$47.7million, compared to $40.0 million in the first quarter of fiscal 2025. GAAP operating margin was 16.6%, compared to 13.8% in the first quarter of fiscal 2025. Current year GAAP operating margin was favorably impacted by a reduction in restructuring charges from the prior year.
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GAAP EPS was $0.31 per diluted share, versus $0.43 in the same quarter last year. GAAP operating income for the third quarter of fiscal 2024 decreased 16% to$67.0million, compared to $80.2 million in the third quarter of fiscal 2023. GAAP operating margin was 22.1%, compared to 27.3% in the third quarter of fiscal 2023. Current year GAAP operating margin was impacted by restructuring and CEO transition costs, the acquisition of Lunaphore, and unfavorable volume leverage within Protein Sciences.
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… development 14,452 9,002 Segment operating income $99,999 $10,319 $110,318 Unallocated amounts Amortization of intangibles (15,382) Acquisition related expenses and other (897) Certain litigation charges (822) Stock based compensation, inclusive of employer taxes (10,968) Restructuring and restructuring-related costs (2,952) Corporate general, selling, and administrative expenses (3,802) Consolidated operating income $75,495
Read in the filing ↗ Also in 10-Q of Feb 4, 2026
In the second quarter of fiscal 2024, the Company announced enterprise-wide restructuring focused on recovering operating margins, optimizing our distribution footprint, and enhancing our organization efficiency. These actions impacted approximately 4% of our global workforce. These actions continued through the third quarter of fiscal 2025 as we incurred charges relating to our business held-for-sale and consulting fees related to optimizing efficiency. The Company is expecting to incur costs related to these actions through the end of fiscal 2025, which will be recorded when specified criteria are met.
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GAAP EPS was $0.25 per diluted share, versus $0.47 in the same quarter last year. GAAP operating income for the fourth quarter of fiscal 2024 decreased 52% to$45.8million, compared to $94.5 million in the fourth quarter of fiscal 2023. GAAP operating margin was 15.0%, compared to 31.4% in the fourth quarter of fiscal 2023. Current year GAAP operating margin was impacted by impairment of assets held-for-sale, restructuring and CEO transition costs, certain litigation charges, changes in the fair value of performance-based stock compensation awards in the prior year, and the acquisition of Lunaphore.
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GAAP EPS was $0.17 per diluted share, versus $0.31 in the same quarter last year. GAAP operating income for the second quarter of fiscal 2024 decreased 44% to$38.0million, compared to $67.9 million in the second quarter of fiscal 2023. Prior year GAAP EPS was favorably impacted by a non-recurring benefit related to the change in fair value of contingent consideration. GAAP operating margin was 13.9%, compared to 25.0% in the second quarter of fiscal 2023. Current year GAAP operating margin was impacted by the impairment of assets held-for-sale, restructuring charges, the acquisition of Lunaphore, unfavorable volume, and product mix.
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… Fiscal 2026 Restructuring Actions: Early in the fourth quarter, management engaged in a series of restructuring activities to optimize certain reporting structures and internal functions. These activities included a focus on a streamlined brand architecture, realignment of functions supporting the different brands, including operations, and our people. The Company is expecting to incur costs related to these actions through fiscal …
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In December 2022, the Company informed employees it would undertake certain actions to strategically reallocate operations resources to high growth areas of the business. Additional actions were taken in June 2023 primarily related to the sales organization. The actions impacted a limited number of employees and were completed in the fourth quarter of fiscal 2024. As a result of the realignment, a pre-tax charge of $1.7 million related to employee severance was recorded in the Selling, general and administrative line of Operating income within our Protein Sciences segment during fiscal 2023. Adjustments in fiscal 2024 relate to the refinement of employee severance payouts. Additional pre-tax charges for fiscal 2024 were $0.2 million. Restructuring actions, including cash and non-cash impacts, are as follows (in thousands):
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For fiscal 2025, we elected to perform a quantitative analysis for all five reporting units. The Company determined, after performing the quantitative analysis, there was no evidence that it is more likely than not that the fair value was less than the carrying amounts. During the fourth quarter of fiscal 2025, as part of restructuring actions, certain assets and liabilities associated with a disposal group in our Diagnostics and Spatial Biology segment were classified as held-for-sale as of May 31, 2025. Given the upcoming divestiture, the Company identified a triggering event and performed impairment testing during May 2025. The impairment test resulted in a total impairment charge of $83.1 million, which includes the allocated goodwill, which we have further described within Note 14. The Company did not identify any additional triggering events
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… Fiscal 2025 Restructuring Actions: During the fourth quarter, management engaged in a series of restructuring activities to optimize components of our global manufacturing processes. These activities included adjusting manufacturing locations and protocols of certain products to better align with geographical and customer demand. Associated with these manufacturing changes, the Company incurred asset impairments of $11.5 million. Additionally, the Company …
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