Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v2.4.0.6
Segment reporting
6 Months Ended
Jan. 31, 2012
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 January 31, 2012


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical
Labs

 

Life
Sciences

 

Therapeutics

 

Other

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical laboratory services

 

$

14,123

 

 

 

 

 

 

 

$

14,123

 

Product revenues

 

 

 

$

9,542

 

 

 

 

 

 

9,542

 

Royalty and license fee income

 

 

 

 

1,308

 

 

 

 

 

 

1,308

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

14,123

 

 

10,850

 

 

 

 

 

 

24,973

 

 

 

   

 

   

 

   

 

   

 

   

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of clinical laboratory services

 

 

8,709

 

 

 

 

 

 

 

 

8,709

 

Cost of product revenues

 

 

 

 

4,685

 

 

 

 

 

 

4,685

 

Research and development

 

 

71

 

 

1,136

 

$

496

 

 

 

 

1,703

 

Selling, general and administrative

 

 

5,190

 

 

4,227

 

 

 

$

2,070

 

 

11,487

 

Provision for uncollectible accounts receivable

 

 

1,146

 

 

23

 

 

 

 

 

 

1,169

 

Legal

 

 

69

 

 

118

 

 

 

 

836

 

 

1,023

 

 

 

   

 

   

 

   

 

   

 

   

 

Total operating expenses

 

 

15,185

 

 

10,189

 

 

496

 

 

2,906

 

 

28,776

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)

 

 

(1,062

)

 

661

 

 

(496

)

 

(2,906

)

 

(3,803

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

(1

)

 

15

 

 

 

 

 

 

14

 

Other

 

 

17

 

 

47

 

 

 

 

3

 

 

65

 

Foreign currency loss

 

 

 

 

(352

)

 

 

 

 

 

(352

)

 

 

   

 

   

 

   

 

   

 

   

 

Income (loss) before income taxes

 

$

(1,046

)

$

371

 

$

(496

)

$

(2,903

)

$

(4,076

)

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization included above

 

$

269

 

$

734

 

$

11

 

$

31

 

$

1,045

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation included in above:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of clinical laboratory services

 

$

3

 

 

 

 

 

 

 

$

3

 

Research and development

 

 

 

$

1

 

 

 

 

 

 

1

 

Selling, general and administrative

 

 

11

 

 

20

 

 

 

$

182

 

 

213

 

 

 

   

 

   

 

   

 

   

 

   

 

Total

 

$

14

 

$

21

 

 

 

$

182

 

$

217

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

$

241

 

$

62

 

$

 

$

 

$

303

 

 

 

   

 

   

 

   

 

   

 

   

 


Three months ended January 31, 2011


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical
Labs

 

Life
Sciences

 

Therapeutics

 

Other

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical laboratory services

 

$

12,278

 

 

 

 

 

 

 

$

12,278

 

Product revenues

 

 

 

$

10,237

 

 

 

 

 

 

10,237

 

Royalty and license fee income

 

 

 

 

1,219

 

 

 

 

 

 

1,219

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

12,278

 

 

11,456

 

 

 

 

 

 

23,734

 

 

 

   

 

   

 

   

 

   

 

   

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of clinical laboratory services

 

 

7,492

 

 

 

 

 

 

 

 

7,492

 

Cost of product revenues

 

 

 

 

5,911

 

 

 

 

 

 

5,911

 

Research and development

 

 

 

 

1,492

 

$

529

 

 

 

 

2,021

 

Selling, general and administrative

 

 

4,578

 

 

4,299

 

 

 

$

2,663

 

 

11,540

 

Provision for uncollectible accounts receivable

 

 

944

 

 

13

 

 

 

 

 

 

957

 

Legal

 

 

71

 

 

96

 

 

 

 

1,210

 

 

1,377

 

 

 

   

 

   

 

   

 

   

 

   

 

Total operating expenses

 

 

13,085

 

 

11,811

 

 

529

 

 

3,873

 

 

29,298

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)

 

 

(807

)

 

(355

)

 

(529

)

 

(3,873

)

 

(5,564

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

1

 

 

1

 

 

 

 

2

 

 

4

 

Other

 

 

7

 

 

 

 

 

 

55

 

 

62

 

Foreign currency loss

 

 

 

 

(64

)

 

 

 

 

 

(64

)

 

 

   

 

   

 

   

 

   

 

   

 

Income (loss) before income taxes

 

$

(799

)

$

(418

)

$

(529

)

$

(3,816

)

$

(5,562

)

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization included above

 

$

243

 

$

811

 

$

12

 

$

33

 

$

1,099

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation included in above:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of clinical laboratory services

 

$

3

 

 

 

 

 

 

 

$

3

 

Research and development

 

 

 

$

7

 

 

 

 

 

 

7

 

Selling, general and administrative

 

 

18

 

 

20

 

 

 

$

271

 

 

309

 

 

 

   

 

   

 

   

 

   

 

   

 

Total

 

$

21

 

$

27

 

 

 

$

271

 

$

319

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

$

248

 

$

83

 

 

 

$

 

$

331

 

 

 

   

 

   

 

   

 

   

 

   

 


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


Six months ended January 31, 2012


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical
Labs

 

Life
Sciences

 

Therapeutics

 

Other

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical laboratory services

 

$

28,310

 

 

 

 

 

 

 

$

28,310

 

Product revenues

 

 

 

$

19,245

 

 

 

 

 

 

19,245

 

Royalty and license fee income

 

 

 

 

3,170

 

 

 

 

 

 

3,170

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

28,310

 

 

22,415

 

 

 

 

 

 

50,725

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of clinical laboratory services

 

 

17,523

 

 

 

 

 

 

 

 

17,523

 

Cost of product revenues

 

 

 

 

9,822

 

 

 

 

 

 

9,822

 

Research and development

 

 

115

 

 

2,184

 

$

1,029

 

 

 

 

3,328

 

Selling, general and administrative

 

 

10,020

 

 

9,455

 

 

 

$

4,397

 

 

23,872

 

Provision for uncollectible accounts receivable

 

 

2,419

 

 

36

 

 

 

 

 

 

2,455

 

Legal

 

 

112

 

 

502

 

 

 

 

1,278

 

 

1,892

 

 

 

   

 

   

 

   

 

   

 

   

 

Total operating expenses

 

 

30,189

 

 

21,999

 

 

1,029

 

 

5,675

 

 

58,892

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Income (loss)

 

 

(1,879

)

 

416

 

 

(1,029

)

 

(5,675

)

 

(8,167

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

(2

)

 

14

 

 

 

 

 

 

12

 

Other

 

 

22

 

 

41

 

 

 

 

10

 

 

76

 

Foreign currency loss

 

 

 

 

(323

)

 

 

 

 

 

(323

)

 

 

   

 

   

 

   

 

   

 

   

 

Income (loss) before income taxes

 

$

(1,859

)

$

148

 

$

(1,029

)

$

(5,665

)

$

(8,402

)

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization included above

 

$

535

 

$

1,640

 

$

22

 

$

62

 

$

2,259

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation included in above:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of clinical laboratory services

 

$

5

 

 

 

 

 

 

 

 

5

 

Research and development

 

 

 

$

4

 

 

 

 

 

$

4

 

Selling, general and administrative

 

 

27

 

 

40

 

 

 

$

354

 

 

421

 

 

 

   

 

   

 

   

 

   

 

   

 

Total

 

$

32

 

$

44

 

 

 

$

354

 

$

430

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

$

431

 

$

113

 

$

 

$

 

$

544

 

 

 

   

 

   

 

   

 

   

 

   

 


Six months ended January 31, 2011


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical
Labs

 

Life
Sciences

 

Therapeutics

 

Other

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clinical laboratory services

 

$

24,668

 

 

 

 

 

 

 

$

24,668

 

Product revenues

 

 

 

$

20,421

 

 

 

 

 

 

20,421

 

Royalty and license fee income

 

 

 

 

4,297

 

 

 

 

 

 

4,297

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

24,668

 

 

24,718

 

 

 

 

 

 

49,386

 

 

 

   

 

   

 

   

 

   

 

   

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of clinical laboratory services

 

 

15,065

 

 

 

 

 

 

 

 

15,065

 

Cost of product revenues

 

 

 

 

10,516

 

 

 

 

 

 

10,516

 

Research and development

 

 

 

 

2,757

 

$

1,021

 

 

 

 

3,778

 

Selling, general and administrative

 

 

9,098

 

 

8,547

 

 

 

$

4,927

 

 

22,572

 

Provision for uncollectible accounts receivable

 

 

2,025

 

 

7

 

 

 

 

 

 

2,032

 

Legal

 

 

161

 

 

195

 

 

 

 

1,717

 

 

2,073

 

 

 

   

 

   

 

   

 

   

 

   

 

Total operating expenses

 

 

26,349

 

 

22,022

 

 

1,021

 

 

6,644

 

 

56,036

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)

 

 

(1,681

)

 

2,696

 

 

(1,021

)

 

(6,644

)

 

(6,650

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

(3

)

 

(1

)

 

 

 

13

 

 

9

 

Other

 

 

10

 

 

3

 

 

 

 

63

 

 

76

 

Foreign currency loss

 

 

 

 

(56

)

 

 

 

 

 

(56

)

 

 

   

 

   

 

   

 

   

 

   

 

Income (loss) before income taxes

 

$

(1,674

)

$

2,642

 

$

(1,021

)

$

(6,568

)

$

(6,621

)

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization included above

 

$

492

 

$

1,581

 

$

24

 

$

65

 

$

2,162

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation included in above:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of clinical laboratory services

 

$

6

 

 

 

 

 

 

 

$

6

 

Research and development

 

 

 

$

10

 

 

 

 

 

 

10

 

Selling, general and administrative

 

 

33

 

 

46

 

 

 

$

551

 

 

630

 

 

 

   

 

   

 

   

 

   

 

   

 

Total

 

$

39

 

$

56

 

 

 

$

551

 

$

646

 

 

 

   

 

   

 

   

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

$

377

 

$

196

 

 

 

$

 

$

573