Annual report pursuant to Section 13 and 15(d)

Segment Reporting (Tables)

v3.8.0.1
Segment Reporting (Tables)
12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information

The table below shows certain financial information of our reporting segments as of and for the years then ended December 31, 2017 and 2016 (in thousands).

 

Segment Reporting as of and for the year ended December 31, 2017

 

    Treatment     Services     Medical     Segments Total     Corporate (2)     Consolidated Total  
Revenue from external customers   $ 37,750     $ 12,019        —      $ 49,769  (3)    $     $ 49,769  
Intercompany revenues     362       31        —       393        —        
Gross profit     7,916       704        —       8,620        —       8,620  
Research and development     439        —       1,141       1,580       15       1,595  
Interest income      —        —        —        —       140       140  
Interest expense     (35 )     (5 )      —       (40 )     (275 )     (315 )
Interest expense-financing fees      —        —        —        —       (35 )     (35 )
Depreciation and amortization     3,228       536        —       3,764       39       3,803  
Segment income (loss) before income taxes     3,577 (6)     (2,286 )     (1,141 )     150       (4,973 )     (4,823 )
Income tax (benefit) expense     (1,290) (7)      —        —       (1,290 )     5       (1,285 )
Segment income (loss)     4,867       (2,286 )     (1,141 )     1,440       (4,978 )     (3,538 )
Segment assets(1)     32,724       6,324       548       39,596       19,942 (4)      59,538  
Expenditures for segment assets     396       43        —       439        —       439  
Total debt      —        —        —        —       3,847 (5)      3,847  

 

Segment Reporting as of and for the year ended December 31, 2016

 

    Treatment     Services     Medical     Segments Total     Corporate  (2)     Consolidated Total  
Revenue from external customers   $ 32,253     $ 18,966        —     $ 51,219 (3)   $     $ 51,219  
Intercompany revenues     40       28        —       68        —        —  
Gross profit     4,015       3,069        —       7,084        —       7,084  
Research and development     504       38       1,489       2,031       15       2,046  
Interest income     3        —        —       3       107       110  
Interest expense     (29 )     (2 )      —       (31 )     (458 )     (489 )
Interest expense-financing fees      —        —        —        —       (108 )     (108 )
Depreciation and amortization     3,451       632        —       4,083       82       4,165  
Segment (loss) income before income taxes     (10,119) (6)     744       (1,489 )     (10,864 )     (5,393 )     (16,257 )
Income tax (benefit) expense     (3,013) (7)      —        —       (3,013 )     19       (2,994 )
Segment (loss) income     (7,106 )     744       (1,489 )     (7,851 )     (5,412 )     (13,263 )
Segment assets(1)     32,482       8,105       382       40,969       24,366 (4)     65,335  
Expenditures for segment assets     418       17       1       436        —       436  
Total debt      —        —        —        —       8,833 (5)     8,833  

 

  (1) Segment assets have been adjusted for intercompany accounts to reflect actual assets for each segment.
     
  (2) Amounts reflect the activity for corporate headquarters not included in the segment information.
     
  (3) The Company performed services relating to waste generated by the federal government, either directly as a prime contractor or indirectly for others as a subcontractor to the federal government, representing approximately $36,654,000 or 73.6% of total revenue for 2017 and $27,354,000 or 53.4% of total revenue for 2016. The following reflects such revenue generated by our two segments:

 

    2017     2016  
Treatment   $ 27,591,000     $ 21,434,000  
Services     9,063,000       5,920,000  
Total   $ 36,654,000     $ 27,354,000  

 

  (4) Amount includes assets from our discontinued operations of $365,000 and $434,000 at December 31, 2017 and 2016, respectively.
     
  (5) net of debt issuance costs of ($115,000) and ($151,000) for 2017 and 2016, respectively (see “Note 9 – “Long-Term Debt” for additional information).
     
  (6) For the year ended December 31, 2016, amounts include tangible and intangible asset impairment losses of $1,816,000 and $8,288,000, respectively, recorded in connection with the pending closure of M&EC. For the year ended December 31, 2017, amount includes tangible asset impairment loss of $672,000 recorded in connection with the pending closure of M&EC (see “Note 3 – M&EC Facility”).
     
  (7) For the year ended December 31, 2016, amount includes a tax benefit of approximately $3,203,000 recorded resulting from the intangible impairment loss recorded for our M&EC subsidiary (see “Note 3 – M&EC Facility”). For the year ended December 31, 2017, amount includes a tax benefit recorded in the amount of approximately $1,695,000 resulting from the Tax Cuts and Jobs Act enacted on December 22, 2017 (see “Note 12 – Income Taxes” for further information of this tax benefit).

Schedule of Revenue by Major Customers by Reporting Segments

The following reflects such revenue generated by our two segments:

    2017     2016  
Treatment   $ 27,591,000     $ 21,434,000  
Services     9,063,000       5,920,000  
Total   $ 36,654,000     $ 27,354,000