| Segment Reporting |
The Company’s operations are principally managed on a product basis and are comprised of two reportable segments
for financial purposes: LED replacement lamps and LED signage and lighting strips. The Array® product line consists of white light LED replacement lamps. The Lumificient product line consists of LED signage and lighting strips.
Financial information relating to the reportable operating segments for the three and nine months ended September 30, 2012 and 2011
is presented below:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2012 |
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2011 |
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2012 |
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2011 |
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Revenues from external customers:
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LED replacement lamps
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$ |
117,519 |
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$ |
1,155,697 |
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$ |
577,389 |
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$ |
4,750,958 |
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LED signage and lighting strips
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1,132,996 |
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957,306 |
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2,874,678 |
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2,981,355 |
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Total revenues from external customers
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$ |
1,250,515 |
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$ |
2,113,003 |
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$ |
3,452,067 |
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$ |
7,732,313 |
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Segment (loss) income:
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LED replacement lamps
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$ |
(161,487 |
) |
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$ |
(7,460 |
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$ |
(5,631,881 |
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$ |
(110,999 |
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LED signage and lighting strips
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46,424 |
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19,274 |
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(103,694 |
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49,896 |
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Segment (loss) income
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(115,063 |
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11,814 |
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(5,735,575 |
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(61,103 |
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Unallocated amounts:
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Corporate expenses
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(594,841 |
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(1,002,793 |
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(2,343,487 |
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(3,075,243 |
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Interest income
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17 |
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|
85 |
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|
107 |
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|
489 |
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Interest expense
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(79,452 |
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(41,576 |
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(210,014 |
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(97,125 |
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Gain on debt restructuring
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1,048,308 |
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— |
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1,048,308 |
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— |
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Income (loss) from continuing operations
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$ |
258,969 |
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$ |
(1,032,470 |
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$ |
(7,240,661 |
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$ |
(3,232,982 |
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Depreciation and amortization:
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LED replacement lamps
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$ |
385 |
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$ |
72,688 |
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$ |
110,911 |
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$ |
205,633 |
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LED signage and lighting strips
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57,592 |
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63,884 |
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178,533 |
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189,571 |
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Segment depreciation and amortization
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57,977 |
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136,572 |
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289,444 |
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395,204 |
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Corporate depreciation and amortization
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7,245 |
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56,301 |
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114,182 |
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168,390 |
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Total depreciation and amortization
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$ |
65,222 |
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$ |
192,873 |
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$ |
403,626 |
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$ |
563,594 |
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