Quarterly report pursuant to Section 13 or 15(d)

Operating Segments (Tables)

v3.8.0.1
Operating Segments (Tables)
9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information

The table below presents certain financial information of our operating segments for the three and nine months ended September 30, 2017 and 2016 (in thousands).

 

Segment Reporting for the Quarter Ended September 30, 2017

 

    Treatment     Services     Medical     Segments Total     Corporate (1)     Consolidated Total  
Revenue from external customers   $ 9,355     $ 2,403           $ 11,758     $     $ 11,758  
Intercompany revenues     77       10             87              
Gross profit     1,613       132             1,745             1,745  
Research and development     96             197       293             293  
Interest income                             34       34  
Interest expense     (1 )     (1 )           (2 )     (57 )     (59 )
Interest expense-financing fees                             (9 )     (9 )
Depreciation and amortization     964       134             1,098       9       1,107  
Segment income (loss) before income taxes     40 (3)     (478 )     (197 )     (635 )     (1,271 )     (1,906 )
Income tax expense     70                   70       1       71  
Segment (loss) income     (30 )     (478 )     (197 )     (705 )     (1,272 )     (1,977 )
Expenditures for segment assets     81       3             84             84  

 

Segment Reporting for the Quarter Ended September 30, 2016  

 

    Treatment     Services     Medical     Segments Total     Corporate (1)     Consolidated Total  
Revenue from external customers   $ 7,643     $ 5,278           $ 12,921     $     $ 12,921  
Intercompany revenues     28       8             36              
Gross profit     837       970             1,807             1,807  
Research and development     95       4       342       441             441  
Interest income                             31       31  
Interest expense     (2 )     (2 )           (4 )     (97 )     (101 )
Interest expense-financing fees                             (14 )     (14 )
Depreciation and amortization     1,019       161             1,180       9       1,189  
Segment (loss) income before income taxes     (90 )     360       (342 )     (72 )     (1,391 )     (1,463 )
Income tax expense     35                   35       2       37  
Segment (loss) income     (125 )     360       (342 )     (107 )     (1,393 )     (1,500 )
Expenditures for segment assets     63       13             76             76  

 

Segment Reporting for the Nine Months Ended September 30, 2017 

 

    Treatment     Services     Medical     Segments Total     Corporate (1)     Consolidated Total  
Revenue from external customers   $ 29,019     $ 8,160           $ 37,179     $     $ 37,179  
Intercompany revenues     191       21             212              
Gross profit     6,474       343             6,817             6,817  
Research and development     339             947       1,286       14       1,300  
Interest income                             105       105  
Interest expense     (27 )     (2 )           (29 )     (220 )     (249 )
Interest expense-financing fees                             (27 )     (27 )
Depreciation and amortization     2,960       405             3,365       29       3,394  
Segment income (loss) before income taxes     2,880 (3)     (1,738 )     (947 )     195       (3,855 )     (3,660 )
Income tax expense     215                   215       3       218  
Segment income (loss)     2,665       (1,738 )     (947 )     (20 )     (3,858 )     (3,878 )
Expenditures for segment assets     188       12             200             200  

 

Segment Reporting for the Nine Months Ended September 30, 2016 

 

    Treatment     Services     Medical     Segments
Total
    Corporate (1)     Consolidated Total  
Revenue from external customers   $ 22,832     $ 14,936           $ 37,768     $       $ 37,768  
Intercompany revenues     38       23             61              
Gross profit     1,280       2,377             3,657             3,657  
Research and development     321       38       1,196       1,555       15       1,570  
Interest income     3                   3       75       78  
Interest expense     (19 )     (2 )           (21 )     (356 )     (377 )
Interest expense-financing fees                             (99 )     (99 )
Depreciation and amortization     2,437       482             2,919       67       2,986  
Segment (loss) income before income taxes     (11,895 )(2)     682       (1,196 )     (12,409 )     (4,164 )     (16,573 )
Income tax (benefit) expense     (3,095 )(2)                 (3,095 )     2       (3,093 )
Segment (loss) income     (8,800 )     682       (1,196 )     (9,314 )     (4,166 )     (13,480 )
Expenditures for segment assets     86       17       1       104             104  

 

(1) Amounts reflect the activity for corporate headquarters not included in the segment information.

 

(2) Amounts include tangible and intangible asset impairment losses of $1,816,000 and $8,288,000, respectively for the Company’s M&EC subsidiary. Also includes a tax benefit of approximately $3,203,000 recorded resulting from the intangible impairment loss recorded for our M&EC subsidiary.

 

(3) Amounts include tangible asset impairment loss of $672,000 for the Company’s M&EC subsidiary (see “Note 7 – East Tennessee Materials and Energy Corporation (“M&EC”)”).