Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v2.4.0.8
Segment reporting
 3 Months Ended
Oct. 31, 2013
Segment Reporting [Abstract]  
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 contained in the Company’s Annual Report on Form 10-K for the year ended July 31, 2013.


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


Three months ended October 31, 2013
    Clinical
Labs 		    Life
Sciences 		    Therapeutics     Other     Consolidated  
Revenues:                                        
Clinical laboratory services   $ 14,860       —       —       —     $ 14,860  
Product revenues     —     $ 7,663       —       —       7,663  
Royalty and license fee income     —       1,611       —       —       1,611  
      14,860       9,274       —       —       24,134  
Operating expenses:                                        
Cost of clinical laboratory services     9,709       —       —       —       9,709  
Cost of product revenues     —       3,846       —       —       3,846  
Research and development     11       526     $ 280       —       817  
Selling, general and administrative     5,050       3,495       —     $ 1,984       10,529  
Provision for uncollectible accounts receivable     844       28       —       —       872  
Legal     148       22       —       1,211       1,381  
Total operating expenses     15,762       7,917       280       3,195       27,154  
                                         
Operating income (loss)     (902 )     1,357       (280 )     (3,195 )     (3,020 )
                                         
Other income (expense)                                        
Interest     (11 )     5       —       (56 )     (62 )
Other     18       27       —       16       61  
Foreign currency gain     —       297       —       —       297  
Income (loss) before income taxes   $ (895 )   $ 1,686     $ (280 )   $ (3,235 )   $ (2,724 )
                                         
Depreciation and amortization included above   $ 355     $ 641     $ 4     $ 25     $ 1,025  
                                         
Share-based compensation included in above:                                        
Cost of clinical laboratory services   $ 2       —       —       —     $ 2  
Research and development     —     $ 1       —       —       1  
Selling, general and administrative     10       4       —     $ 86       100  
Total   $ 12     $ 5       —     $ 86     $ 103  
                                         
Capital expenditures   $ 259     $ 75     $ —     $ —     $ 334  

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 income (loss)     (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