Quarterly report pursuant to sections 13 or 15(d)

Segment Reporting

v2.4.0.8
Segment Reporting
6 Months Ended
Jun. 30, 2013
Segment Reporting
12. Segment Reporting:

The Company’s operations are principally managed on a product basis and are comprised of two reportable segments for financial reporting purposes: LED replacement lamps and fixtures and LED signage and lighting strips.

 

Financial information relating to the reportable operating segments for the three and six months ended June 30, 2013 and 2012 is presented below:

 

     Three Months Ended June 30,     Six Months Ended June 30,  
     2013     2012     2013     2012  

Revenues from external customers:

        

LED replacement lamps

   $ 6,505,097      $ 169,724      $ 11,966,366      $ 459,870   

LED signage and lighting strips

     852,210        883,581        1,702,342        1,741,682   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total revenues from external customers

   $ 7,357,307      $ 1,053,305      $ 13,668,709      $ 2,201,552   
  

 

 

   

 

 

   

 

 

   

 

 

 

Segment (loss) income:

        

LED replacement lamps

   $ 353,749      $ (4,848,361   $ 414,245      $ (5,470,393

LED signage and lighting strips

     (22,491     (55,435     (92,934     (150,119
  

 

 

   

 

 

   

 

 

   

 

 

 

Segment (loss) income

     331,258        (4,903,796     321,311        (5,620,512

Unallocated amounts:

        

Corporate expenses

     (1,644,547     (741,004     (3,783,631     (1,748,646

Change in fair value of embedded derivative

     (3,821,270     —          (6,990,353     —     

Other income (expense)

     —          (83,644     31        (130,472
  

 

 

   

 

 

   

 

 

   

 

 

 

Loss from continuing operations

   $ (5,134,559   $ (5,728,444   $ (10,452,641   $ (7,499,630
  

 

 

   

 

 

   

 

 

   

 

 

 

Depreciation and amortization:

        

LED replacement lamps

   $ 1,005,456      $ 55,652      $ 1,929,902      $ 110,526   

LED signage and lighting strips

     56,866        58,478        115,421        120,942   
  

 

 

   

 

 

   

 

 

   

 

 

 

Segment depreciation and amortization

     1,062,322        114,130        2,045,323        231,468   

Corporate depreciation and amortization

     5,446        27,571        10,874        106,936   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total depreciation and amortization

   $ 1,067,768      $ 141,701      $ 2,056,197      $ 338,404