Segment Reporting |
14. 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 years ended December 31, 2011 and 2010 is presented below:
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Year Ended December 31, |
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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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$ |
4,938,762 |
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$ |
1,807,744 |
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LED signage and lighting strips
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4,049,086 |
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3,614,699 |
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Total revenues from external customers
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$ |
8,987,848 |
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$ |
5,422,443 |
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Segment loss:
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LED replacement lamps
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$ |
(952,112 |
) |
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$ |
(1,618,073 |
) |
LED signage and lighting strips
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(470,295 |
) |
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(249,699 |
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Segment loss
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(1,422,407 |
) |
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(1,867,772 |
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Unallocated amounts:
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Corporate expenses
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(3,876,418 |
) |
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(3,810,281 |
) |
Interest income
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569 |
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1,657 |
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Debt extinguishment costs
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— |
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(441,741 |
) |
Interest expense
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(126,658 |
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(247,139 |
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Loss from continuing operations
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$ |
(5,424,914 |
) |
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$ |
(6,365,276 |
) |
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Depreciation and amortization:
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LED replacement lamps
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$ |
275,881 |
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$ |
237,482 |
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LED signage and lighting strips
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252,408 |
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249,147 |
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Segment depreciation and amortization
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528,289 |
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486,629 |
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Corporate depreciation and amortization
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225,903 |
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207,743 |
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Depreciation and amortization associated with
discontinued operations
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— |
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133,774 |
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Total depreciation and amortization
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$ |
754,192 |
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$ |
828,146 |
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Segment assets:
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LED replacement lamps
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$ |
5,690,478 |
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$ |
6,382,457 |
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LED signage and lighting strips
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5,008,561 |
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3,815,025 |
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Total segment assets
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10,699,039 |
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10,197,482 |
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Elimination of intercompany receivable
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(1,751,943 |
) |
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(331,983 |
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Other corporate assets
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3,000,912 |
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7,154,710 |
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Total assets
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$ |
11,948,008 |
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$ |
17,020,209 |
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Expenditures for segment assets:
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LED replacement lamps
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$ |
296,898 |
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$ |
414,191 |
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LED signage and lighting strips
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52,205 |
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31,324 |
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Total expenditures for segment assets
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349,103 |
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445,515 |
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Corporate expenditures for assets
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14,171 |
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147,351 |
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Expenditures for segment assets associated with discontinued operations
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— |
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31,922 |
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Total expenditures for assets
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$ |
363,274 |
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$ |
624,788 |
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Net revenues by geographic location, based on location of customers, were as follows:
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December 31, |
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2011 |
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2010 |
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United States
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$ |
8,022,432 |
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$ |
4,386,808 |
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Canada
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599,868 |
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597,355 |
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Other
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365,548 |
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438,280 |
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Total
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$ |
8,987,848 |
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$ |
5,422,443 |
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Net long-lived assets by geographic locations were as follows:
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December 31, |
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2011 |
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2010 |
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United States
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$ |
2,826,512 |
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$ |
3,326,208 |
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Mexico
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202,735 |
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316,964 |
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Canada
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141,771 |
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98,405 |
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Other
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115,928 |
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89,918 |
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Total
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$ |
3,286,946 |
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$ |
3,831,495 |
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