Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v2.4.0.6
Segment reporting
 2 Months Ended
Oct. 31, 2011
Segment Reporting Disclosure [Text Block]

Note 12 – 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.


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


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

 

 

 

 

 

 

 

 


Three months ended October 31, 2010


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical
Labs

 

Life
Sciences

 

Therapeutics

 

Other

 

Consolidated

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical laboratory services

 

$

12,390

 

 

—

 

 

—

 

 

—

 

$

12,390

 

Product revenues

 

 

—

 

$

10,184

 

 

—

 

 

—

 

10,184

Royalty and license fee income

 

 

—

 

 

3,078

 

 

—

 

 

—

 

 

3,078

 

 

 

 

 

 

 

 

 

 

 

12,390

 

 

13,262

 

 

—

 

 

 

 

 

25,652

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

—

 

 

 

 

Cost of clinical laboratory services

 

 

7,573

 

 

—

 

 

—

 

 

—

 

 

7,573

 

Cost of product revenues

 

 

—

 

 

4,606

 

 

—

 

 

—

 

 

4,606

 

Research and development

 

 

—

 

 

1,265

 

$

492

 

 

—

 

 

1,757

 

Selling, general and administrative

 

 

4,519

 

 

4,248

 

 

—

 

$

2,265

 

 

11,032

 

Provision for uncollectible accounts receivable

 

 

1,075

 

 

—

 

 

—

 

 

—

 

 

1,075

 

Legal

 

 

90

 

 

99

 

 

—

 

 

507

 

 

696

 

 

 

 

 

 

 

 

Total operating expenses

 

 

13,257

 

 

10,218

 

 

492

 

 

2,772

 

 

26,739

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)

 

 

(867

)

 

3,044

 

 

(492

)

 

(2,772

)

 

(1,087

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

—

 

 

—

 

 

—

 

 

5

 

 

5

 

Other

 

 

3

 

 

3

 

 

—

 

 

8

 

 

14

 

Foreign exchange gain

 

 

—

 

 

8

 

 

—

 

 

—

 

 

8

 

 

 

 

 

 

 

 

Income (loss) before income taxes

 

$

(864

)

$

3,055

 

$

(492

)

$

(2,759

)

$

(1,060

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization included above

 

$

249

 

$

795

 

$

12

 

$

32

 

$

1,088

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation included in above:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of clinical laboratory services

 

$

3

 

 

—

 

 

—

 

 

—

 

$

3

 

Research and development

 

 

—

 

$

3

 

 

—

 

 

—

 

 

3

 

Selling, general and administrative

 

 

15

 

 

26

 

 

—

 

$

280

 

 

321

 

 

 

 

 

 

 

 

Total

 

$

18

 

$

29

 

 

—

 

$

280

 

$

327

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

$

129

 

$

113

 

 

—

 

$

—

 

$

242