Quarterly report pursuant to Section 13 or 15(d)

Segments

 v2.3.0.11
Segments
 6 Months Ended
Jun. 30, 2011
Segments
15.
Segments

We report information about our operating segments using the “management approach” in accordance with current accounting standards.  This information is based on the way management organizes and reports the segments within the enterprise for making operating decisions and assessing performance.  Our reportable segments are identified based on differences in products, services and markets served.  There were no inter-segment sales.  We own or have rights to intellectual property involving two primary types of medical device products, including oncology instruments currently used primarily in the application of sentinel lymph node biopsy, and blood flow measurement devices.  We also own or have rights to intellectual property related to several drug and therapy products.  Such drug and therapy products will be the only products remaining in our portfolio following completion of the Asset Sale.  See Note 1(a).

The information in the following table is derived directly from each reportable segment’s financial reporting.
 
 
($ amounts in thousands)
Three Months Ended June 30, 2011
  
Oncology
Devices
    
Drug and
Therapy
Products
    
Corporate
    
Total
  
Net sales:
                        
United States1
   $ 3,100     $ 0     $ 0     $ 3,100  
International
     65       0       0       65  
License and grant revenue
     25       6       0       31  
Research and development expenses
     278       1,686       0       1,964  
Selling, general and administrative expenses, excluding depreciation and amortization2
     80       0       2,279       2,359  
Depreciation and amortization
     21       2       27       50  
Income (loss) from operations3
     1,808       (1,682 )     (2,306 )     (2,180 )
Other income (expense)4
     0       0       (9 )     (9 )
Income (loss) from continuing operations
     1,808       (1,682 )     (2,315 )     (2,189 )
Income (loss) from discontinued operations
     0       0       0       0  
Total assets, net of depreciation and amortization:
                                
United States operations
     3,019       1,069       7,889       11,977  
Discontinued operations
     0       0       10       10  
Capital expenditures
     0       1       22       23  

($ amounts in thousands)
Three Months Ended June 30, 2010
  
Oncology
Devices
    
Drug and
Therapy
Products
    
Corporate
    
Total
  
Net sales:
                        
United States1
   $ 2,479     $ 0     $ 0     $ 2,479  
International
     35       0       0       35  
License revenue
     25       0       0       25  
Research and development expenses
     83       1,655       0       1,738  
Selling, general and administrative expenses, excluding depreciation and amortization2
     54       0       814       868  
Depreciation and amortization
     31       2       17       50  
Income (loss) from operations3
     1,559       (1,657 )     (831 )     (929 )
Other income (expense)4
     0       0       (42,140 )     (42,140 )
Income (loss) from continuing operations
     1,559       (1,657 )     (42,971 )     (43,069 )
Loss from discontinued operations
     0       0       (1 )     (1 )
Total assets, net of depreciation and amortization:
                                
United States operations
     3,251       441       4,194       7,886  
Discontinued operations
     0       0       6       6  
Capital expenditures
     0       142       21       163  

 
($ amounts in thousands)
Six Months Ended June 30, 2011
  
Oncology
Devices
    
Drug and
Therapy
Products
    
Corporate
    
Total
  
Net sales:
                        
United States1
   $ 5,510     $ 0     $ 0     $ 5,510  
International
     133       0       0       133  
License and grant revenue
     50       342       0       392  
Research and development expenses
     590       3,963       0       4,553  
Selling, general and administrative expenses, excluding depreciation and amortization2
     149       0       5,120       5,269  
Depreciation and amortization
     41       17       52       110  
Income (loss) from operations3
     3,153       (3,638 )     (5,172 )     (5,657 )
Other income (expense)4
     0       0       (961 )     (961 )
Income (loss) from continuing operations
     3,153       (3,638 )     (6,133 )     (6,618 )
Income from discontinued operations
     0       0       7       7  
Total assets, net of depreciation and amortization:
                                
United States operations
     3,019       1,069       7,889       11,977  
Discontinued operations
     0       0       10       10  
Capital expenditures
     5       11       64       80  

($ amounts in thousands)
Six Months Ended June 30, 2010
  
Oncology
Devices
    
Drug and
Therapy
Products
    
Corporate
    
Total
  
Net sales:
                        
United States1
   $ 5,116     $ 0     $ 0     $ 5,116  
International
     56       0       0       56  
License revenue
     50       0       0       50  
Research and development expenses
     254       3,885       0       4,139  
Selling, general and administrative expenses, excluding depreciation and amortization2
     115       0       1,820       1,935  
Depreciation and amortization
     64       15       33       112  
Income (loss) from operations3
     3,089       (3,900 )     (1,853 )     (2,664 )
Other income (expense)4
     0       0       (42,853 )     (42,853 )
Income (loss) from continuing operations
     3,089       (3,900 )     (44,706 )     (45,517 )
Loss from discontinued operations
     0       0       (13 )     (13 )
Total assets, net of depreciation and amortization:
                                
United States operations
     3,251       441       4,194       7,886  
Discontinued operations
     0       0       6       6  
Capital expenditures
     0       220       34       254  

 
1
All sales to Devicor and EES are made in the United States.  Devicor distributes the product globally through its international affiliates.
 
2
General and administrative expenses, excluding depreciation and amortization, represent costs that relate to the general administration of the Company and as such are not currently allocated to our individual reportable segments.  Marketing and selling expenses are allocated to our individual reportable segments.
 
3
Income (loss) from operations does not reflect the allocation of selling, general and administrative expenses, excluding depreciation and amortization, to our individual reportable segments.
 
4
Amounts consist primarily of interest income, interest expense and changes in derivative liabilities which are not currently allocated to our individual reportable segments.