Quarterly report pursuant to sections 13 or 15(d)

Segment Reporting

v2.4.0.8
Segment Reporting
 3 Months Ended
Mar. 31, 2014
Segment Reporting
10. 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. 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 fixtures and LED signage and lighting strips. The LED replacement lamps and fixtures reportable segment includes the Seesmart operating segment, the Relume operating segment, the LIT operating segment and the Tri-State operating segment, each of which are also reporting units. Effective January 1, 2014 the Media business of Relume (acquired August 2013), included in the LED replacement lamps and fixtures reporting segment since the acquisition of Relume, has been transferred to Lumificient and is now included in the LED signage and lighting strip segment . The LED signage and lighting strips segment is comprised of the Lumificient operating segment, which is also a reporting unit. Financial information relating to the reportable operating segments for the three months ended March 31, 2014 and 2013 is presented below:

 

     Three Months Ended March 31,  
     2014     2013  

Revenues from external customers:

     

LED replacement lamps and fixtures

    $ 4,013      $ 5,461   

LED signage and lighting strips

      939        850   
  

 

 

    

 

 

  

Total revenues from external customers

    $ 4,952      $ 6,311   
  

 

 

    

 

 

  

Segment (loss) income:

     

LED replacement lamps and fixtures

    $ (1,798 )    $ 60   

LED signage and lighting strips

      (210 )      (70 ) 
  

 

 

    

 

 

  

Segment (loss) income

      (2,008 )      (10 ) 

Unallocated amounts:

     

Corporate expenses

      (1,404 )      (2,139 ) 

Change in fair value of embedded derivative

      —          (3,169 ) 

Interest expense

      (87 )      —     

Taxes

      (29 )   

Other income (expense)

      21        —     
  

 

 

    

 

 

  

Loss from continuing operations

    $ (3,507 )    $ (5,318 ) 
  

 

 

    

 

 

  

LED replacement lamps

    $ 466      $ 924   

LED signage and lighting strips

      85        59   
  

 

 

    

 

 

  

Segment depreciation and amortization

      551        983   

Corporate depreciation and amortization

      3        5   
  

 

 

    

 

 

  

Total depreciation and amortization

    $ 554      $ 988   
  

 

 

    

 

 

  

Segment assets on the dates indicated comprise the following:

 

       March 31, 2014       December 31, 2013  

LED Replacement lamps and fixtures

    $ 49,855      $ 50,578   

LED signage and lighting strips

      7,067        6,960   
  

 

 

    

 

 

  
     56,922        57,538   

Elimination of intercompany receivables

      (6,564 )      (14,231 ) 

Corporate assets, principally cash

      239        8,955   
  

 

 

    

 

 

  
   $ 50,597      $ 52,262