Annual report pursuant to Section 13 and 15(d)

Segments

v2.4.0.6
Segments
12 Months Ended
Dec. 31, 2011
Segments [Abstract]  
Segments

Note 17 Segments

We currently manage our operations in one reportable segment, pharmaceutical. The pharmaceutical segment consists of two operating segments, our (i) pharmaceutical research and development segment which is focused on the research and development of pharmaceutical products, diagnostic tests and vaccines, and (ii) the pharmaceutical operations we acquired in Chile, Mexico, and Israel through the acquisition of OPKO Chile, Exakta-OPKO, and FineTech, respectively. There are no inter-segment sales. We evaluate the performance of each segment based on operating profit or loss. There is no inter-segment allocation of interest expense and income taxes. We previously recorded our ophthalmic instrumentation business as its own reporting segment.

Information regarding our operations and assets for the two operating segments and the unallocated corporate operations as well as geographic information are as follows:

 

                         
    For the years ended December 31,  
(in thousands)   2011     2010     2009  

Product revenue

                       

Pharmaceutical

  $ 27,844     $ 21,763     $ 4,418  

Corporate

    —         —         —    
   

 

 

   

 

 

   

 

 

 
    $ 27,844     $ 21,763     $ 4,418  
   

 

 

   

 

 

   

 

 

 

Operating (loss) income from continuing operations

                       

Pharmaceutical

  $ (12,383   $ 495     $ (12,890

Corporate

    (10,806     (11,631     (9,257
   

 

 

   

 

 

   

 

 

 
    $ (23,189   $ (11,136   $ (22,147
   

 

 

   

 

 

   

 

 

 

Depreciation and amortization

                       

Pharmaceutical

  $ 3,660     $ 2,092     $ 511  

Corporate

    170       115       53  
   

 

 

   

 

 

   

 

 

 
    $ 3,830     $ 2,207     $ 564  
   

 

 

   

 

 

   

 

 

 

Net loss of investees

                       

Pharmaceutical

  $ (1,589   $ (714   $ (353

Corporate

    —         —         —    
   

 

 

   

 

 

   

 

 

 
    $ (1,589   $ (714   $ (353
   

 

 

   

 

 

   

 

 

 

Product revenue

                       

United States

  $ —       $ —       $ —    

Chile

    21,466       17,977       4,418  

Mexico

    6,378       3,786       —    
   

 

 

   

 

 

   

 

 

 
    $ 27,844     $ 21,763     $ 4,418  
   

 

 

   

 

 

   

 

 

 

 

                 
    As of December 31,  
    2011     2010  

Assets

               

Pharmaceutical

  $ 154,437     $ 51,819  

Corporate

    75,048       17,610  

Discontinued operations

    4       8,417  
   

 

 

   

 

 

 
    $ 229,489     $ 77,846  
   

 

 

   

 

 

 

During the year ended December 31, 2010, we also recorded $6.7 million of license revenue related to our license agreement with TESARO as part of our pharmaceutical business.

During the year ended December 31, 2011, one customer represented 17% of our total product revenue. During the year ended December 31, 2010, one customer represented 13% of our total product revenue. During the year ended December 31, 2009, no customers represented greater than 10% of revenue. As of December 31, 2011, one customer represented 29% of our accounts receivable balance. As of December 31, 2010, two customers represented 32% and 11% of our accounts receivable balance.