Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v2.4.0.6
Segment reporting
 3 Months Ended
Oct. 31, 2012
Segment Reporting Disclosure [Text Block]

Note 10 – Segment reporting


The Company has three reportable segments: Clinical Labs, Life Sciences, and Therapeutics. The Clinical Labs segment provides diagnostic services to the health care community. The Company’s Life Sciences segment develops, manufactures, and markets products to research and pharmaceutical customers. The Company’s Therapeutic segment conducts research and development activities for therapeutic drug candidates. The Company evaluates segment performance based on segment income (loss) before taxes. Costs excluded from segment income (loss) before taxes and reported as “Other” consist of corporate general and administrative costs which are not allocable to the three reportable segments.


Management of the Company assesses assets on a consolidated basis only and, therefore, assets by reportable segment have not been included in the reportable segments below. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies contained in the Company’s Annual Report on Form 10-K for the year ended July 31, 2012.


The following financial information represents the operating results of the reportable segments of the Company:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended October 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical
Labs

 

Life
Sciences

 

Therapeutics

 

Other

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical laboratory services

 

$

15,177

 

 

—

 

 

—

 

 

—

 

$

15,177

 

Product revenues

 

 

—

 

$

8,434

 

 

—

 

 

—

 

 

8,434

 

Royalty and license fee income

 

 

—

 

 

2,019

 

 

—

 

 

—

 

 

2,019

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

15,177

 

 

10,453

 

 

—

 

 

—

 

 

25,630

 

 

 

   

 

   

 

   

 

   

 

   

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of clinical laboratory services

 

 

9,710

 

 

—

 

 

—

 

 

—

 

 

9,710

 

Cost of product revenues

 

 

—

 

 

4,184

 

 

—

 

 

—

 

 

4,184

 

Research and development

 

 

89

 

 

606

 

$

316

 

 

—

 

 

1,011

 

Selling, general and administrative

 

 

4,961

 

 

4,272

 

 

—

 

$

2,182

 

 

11,415

 

Provision for uncollectible accounts receivable

 

 

1,556

 

 

38

 

 

—

 

 

—

 

 

1,594

 

Legal

 

 

107

 

 

6

 

 

—

 

 

1,587

 

 

1,700

 

 

 

   

 

   

 

   

 

   

 

   

 

Total operating expenses

 

 

16,423

 

 

9,106

 

 

316

 

 

3,769

 

 

29,614

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating (loss) income

 

 

(1,246

)

 

1,347

 

 

(316

)

 

(3,769

)

 

(3,984

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

(9

)

 

(1

)

 

—

 

 

1

 

 

(9

)

Other

 

 

6

 

 

1

 

 

—

 

 

2

 

 

9

 

Foreign currency gain

 

 

—

 

 

229

 

 

—

 

 

—

 

 

229

 

 

 

   

 

   

 

   

 

   

 

   

 

Income (loss) before income taxes

 

$

(1,249

)

$

1,576

 

$

(316

)

$

(3,766

)

$

(3,755

)

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization included above

 

$

308

 

$

813

 

$

7

 

$

21

 

$

1,149

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation included in above:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of clinical laboratory services

 

$

2

 

 

—

 

 

—

 

 

—

 

$

2

 

Research and development

 

 

—

 

$

1

 

 

—

 

 

—

 

 

1

 

Selling, general and administrative

 

 

11

 

 

—

 

 

—

 

$

128

 

 

139

 

 

 

   

 

   

 

   

 

   

 

   

 

Total

 

$

13

 

$

1

 

 

—

 

$

128

 

$

142

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

$

205

 

$

86

 

 

—

 

$

—

 

$

291

 

 

 

   

 

   

 

   

 

   

 

   

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended October 31, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical
Labs

 

Life
Sciences

 

Therapeutics

 

Other

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical laboratory services

 

$

14,187

 

 

—

 

 

—

 

 

—

 

$

14,187

 

Product revenues

 

 

—

 

$

9,704

 

 

—

 

 

—

 

 

9,704

 

Royalty and license fee income

 

 

—

 

 

1,862

 

 

—

 

 

—

 

 

1,862

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

14,187

 

 

11,566

 

 

—

 

 

—

 

 

25,753

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of clinical laboratory services

 

 

8,814

 

 

—

 

 

—

 

 

—

 

 

8,814

 

Cost of product revenues

 

 

—

 

 

5,137

 

 

—

 

 

—

 

 

5,137

 

Research and development

 

 

44

 

 

1,048

 

$

533

 

 

—

 

 

1,625

 

Selling, general and administrative

 

 

4,831

 

 

5,228

 

 

—

 

$

2,326

 

 

12,385

 

Provision for uncollectible accounts receivable

 

 

1,273

 

 

13

 

 

—

 

 

—

 

 

1,286

 

Legal

 

 

43

 

 

383

 

 

—

 

 

442

 

 

868

 

 

 

   

 

   

 

   

 

   

 

   

 

Total operating expenses

 

 

15,005

 

 

11,809

 

 

533

 

 

2,768

 

 

30,115

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating loss

 

 

(818

)

 

(243

)

 

(533

)

 

(2,768

)

 

(4,362

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

(1

)

 

(1

)

 

—

 

 

—

 

 

(2

)

Other

 

 

5

 

 

(5

)

 

—

 

 

9

 

 

9

 

Foreign exchange gain

 

 

—

 

 

29

 

 

—

 

 

—

 

 

29

 

 

 

   

 

   

 

   

 

   

 

   

 

Loss before income taxes

 

$

(814

)

$

(220

)

$

(533

)

$

(2,759

)

$

(4,326

)

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization included above

 

$

266

 

$

914

 

$

11

 

$

31

 

$

1,222

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation included in above:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of clinical laboratory services

 

$

2

 

 

—

 

 

—

 

 

—

 

$

2

 

Research and development

 

 

—

 

$

3

 

 

—

 

 

—

 

 

3

 

Selling, general and administrative

 

 

13

 

 

20

 

 

—

 

$

175

 

 

208

 

 

 

   

 

   

 

   

 

   

 

   

 

Total

 

$

15

 

$

23

 

 

—

 

$

175

 

$

213

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

$

215

 

$

30

 

 

—

 

$

7

 

$

252