Enzo Biochem, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

Segment reporting

9 Months Ended

Apr. 30, 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 April 30, 2012


	Clinical Labs			Life Sciences			Therapeutics			Other			Consolidated

Revenues:
Clinical laboratory services	$	15,242			—			—			—		$	15,242
Product revenues		—		$	9,574			—			—			9,574
Royalty and license fee income		—			1,133			—			—			1,133

		15,242			10,707			—			—			25,949

Operating expenses:
Cost of clinical laboratory services		9,204			—			—			—			9,204
Cost of product revenues		—			4,689			—			—			4,689
Research and development		109			940		$	539			—			1,588
Selling, general and administrative		5,301			4,369			—		$	2,184			11,854
Provision for uncollectible accounts receivable		1,153			40			—			—			1,193
Legal		102			27			—			814			943

Total operating expenses		15,869			10,065			539			2,998			29,471


Operating income (loss)		(627	)		642			(539	)		(2,998	)		(3,522	)

Other income (expense)
Interest		(2	)		(16	)		—			—			(18	)
Other		9			—			—			6			15
Foreign currency gain		—			80			—			—			80

Income (loss) before income taxes	$	(620	)	$	706		$	(539	)	$	(2,992	)	$	(3,445	)


Depreciation and amortization included above	$	275		$	710		$	11		$	31		$	1,027


Share-based compensation included in above:
Cost of clinical laboratory services	$	3			—			—			—		$	3
Research and development		—		$	1			—			—			1
Selling, general and administrative		16			10			—		$	138			164

Total	$	19		$	11			—		$	138		$	168


Capital expenditures	$	264		$	177		$	—		$	—		$	441

Three months ended April 30, 2011


	Clinical Labs			Life Sciences			Therapeutics			Other			Consolidated

Revenues:
Clinical laboratory services	$	13,809			—			—			—		$	13,809
Product revenues		—		$	10,935			—			—			10,935
Royalty and license fee income		—			1,083			—			—			1,083

		13,809			12,018									25,827

Operating expenses:
Cost of clinical laboratory services		8,268			—			—			—			8,268
Cost of product revenues		—			5,195			—			—			5,195
Research and development		—			1,544		$	509			—			2,053
Selling, general and administrative		4,526			4,280			—		$	2,071			10,877
Provision for uncollectible accounts receivable		1,005			—			—			—			1,005
Legal		79			109			—			507			695

Total operating expenses		13,878			11,128			509			2,578			28,093


Operating income (loss)		(69	)		890			(509	)		(2,578	)		(2,266	)

Other income (expense)
Interest		(1	)		(1	)		—			4			2
Other		7			(8	)		—			72			71
Foreign currency gain		—			191			—			—			191

Income (loss) before income taxes	$	(63	)	$	1,072		$	(509	)	$	(2,502	)	$	(2,002	)


Depreciation and amortization included above	$	256		$	810		$	11		$	32		$	1,109


Share-based compensation included in above:
Cost of clinical laboratory services	$	2			—			—			—		$	2
Research and development		—		$	6			—			—			6
Selling, general and administrative		18			25			—		$	173			216

Total	$	20		$	31			—		$	173		$	224


Capital expenditures	$	340		$	108			—		$	—		$	448

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

Nine months ended April 30, 2012


	Clinical Labs			Life Sciences			Therapeutics			Other			Consolidated

Revenues:
Clinical laboratory services	$	43,552			—			—			—		$	43,552
Product revenues		—		$	28,819			—			—			28,819
Royalty and license fee income		—			4,302			—			—			4,302

		43,552			33,121			—			—			76,673

Operating expenses:
Cost of clinical laboratory services		26,728			—			—			—			26,728
Cost of product revenues		—			14,511			—			—			14,511
Research and development		224			3,125		$	1,567			—			4,916
Selling, general and administrative		15,322			13,824			—		$	6,581			35,727
Provision for uncollectible accounts receivable		3,571			77			—			—			3,648
Legal		214			529			—			2,092			2,835

Total operating expenses		46,059			32,066			1,567			8,673			88,365


Operating Income (loss)		(2,507	)		1,055			(1,567	)		(8,673	)		(11,692	)

Other income (expense)
Interest		(3	)		(3	)		—			—			(6	)
Other		33			42			—			19			94
Foreign currency loss		—			(243	)		—			—			(243	)

Income (loss) before income taxes	$	(2,477	)	$	851		$	(1,567	)	$	(8,654	)	$	(11,847	)


Depreciation and amortization included above	$	810		$	2,350		$	33		$	93		$	3,286


Share-based compensation included in above:
Cost of clinical laboratory services	$	8			—			—			—			8
Research and development		—		$	4			—			—		$	4
Selling, general and administrative		41			51			—		$	491			583

Total	$	49		$	55			—		$	491		$	595


Capital expenditures	$	695		$	284		$	—		$	—		$	979

Nine months ended April 30, 2011


	Clinical Labs			Life Sciences			Therapeutics			Other			Consolidated

Revenues:
Clinical laboratory services	$	38,477			—			—			—		$	38,477
Product revenues		—		$	31,356			—			—			31,356
Royalty and license fee income		—			5,380			—			—			5,380

		38,477		$	36,736			—			—			75,213

Operating expenses:
Cost of clinical laboratory services		23,333			—			—			—			23,333
Cost of product revenues		—			15,708			—			—			15,708
Research and development		—			4,301		$	1,530			—			5,831
Selling, general and administrative		13,618			12,833			—		$	6,999			33,450
Provision for uncollectible accounts receivable		3,037			—			—			—			3,037
Legal		241			303			—			2,223			2,767

Total operating expenses		40,229			33,145			1,530			9,222			84,126


Operating income (loss)		(1,752	)		3,591			(1,530	)		(9,222	)		(8,913	)

Other income (expense)
Interest		(4	)		(2	)		—			16			10
Other		17			(4	)		—			134			147
Foreign currency gain		—			135			—			—			135

Income (loss) before income taxes	$	(1,739	)	$	3,720		$	(1,530	)	$	(9,072	)	$	(8,621	)


Depreciation and amortization included above	$	748		$	2,391		$	35		$	97		$	3,271


Share-based compensation included in above:
Cost of clinical laboratory services	$	8		$	—			—			—		$	8
Research and development		—			16			—			—			16
Selling, general and administrative		51			71			—		$	724			846

Total	$	59		$	87			—		$	724		$	870


Capital expenditures	$	717		$	304			—		$	—		$	1,021

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details