Note 11 – Royalty and licensing income

The Company’s Life Science segment has a license agreement with QIAGEN Gaithersburg Inc. (“Qiagen”) that began in 2005, whereby the Company earns quarterly royalties on the net sales of Qiagen products subject to the license until the expiration of the patent on April 24, 2018. During each of the three months ended April 30, 2014 and 2013, the Company recorded royalty income under the agreement of approximately $0.7 million and $0.9 million respectively. During the nine months ended April 30, 2014 and 2013, the Company recorded royalty income under the agreement of approximately $3.4 million and $4.0 million, respectively.