| Segment Reporting |
As a result of the sale of the Company's Legacy Commercial and Pool Lighting Businesses in October of 2010, the Company reorganized its reporting structure into two reportable segments: LED replacement lamps and LED signage and lighting strips. The Company's operations are principally managed on a product basis. 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 six months ended June 30, 2011 and 2010 is presented below:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2011 |
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2010 |
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2011 |
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2010 |
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Revenues from external customers:
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LED replacement lamps
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$ |
3,216,208 |
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$ |
430,473 |
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$ |
3,595,261 |
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$ |
931,663 |
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LED signage and lighting strips
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849,508 |
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896,554 |
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2,024,049 |
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1,819,781 |
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Total revenues from external customers
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$ |
4,065,716 |
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$ |
1,327,027 |
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$ |
5,619,310 |
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$ |
2,751,444 |
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Segment (loss) income:
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LED replacement lamps
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$ |
199,047 |
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$ |
(379,491 |
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$ |
(103,539 |
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$ |
(720,233 |
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LED signage and lighting strips
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(55,582 |
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(119,569 |
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30,622 |
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(177,149 |
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Segment (loss) income
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143,465 |
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(499,060 |
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(72,917 |
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(897,382 |
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Unallocated amounts:
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Corporate expenses
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(981,491 |
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(1,099,407 |
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(2,072,450 |
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(2,083,996 |
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Interest income
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164 |
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579 |
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404 |
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877 |
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Debt extinguishment costs
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— |
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— |
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— |
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(441,741 |
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Interest expense
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(28,088 |
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(26,813 |
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(55,549 |
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(186,054 |
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Loss from continuing operations
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$ |
(865,950 |
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$ |
(1,624,701 |
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$ |
(2,200,512 |
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$ |
(3,608,296 |
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Depreciation and amortization:
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LED replacement lamps
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$ |
68,012 |
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$ |
58,593 |
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$ |
132,945 |
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$ |
110,572 |
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LED signage and lighting strips
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63,042 |
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61,544 |
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125,687 |
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123,680 |
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Segment depreciation and amortization
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131,054 |
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120,137 |
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258,632 |
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234,252 |
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Corporate depreciation and amortization
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56,140 |
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50,233 |
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112,089 |
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100,175 |
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Depreciation and amortization associated with discontinue operations
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— |
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42,446 |
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— |
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83,783 |
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Total depreciation and amortization
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$ |
187,194 |
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$ |
212,816 |
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$ |
370,721 |
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$ |
418,210 |
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