Quarterly report pursuant to Section 13 or 15(d)

Segments

v2.4.0.6
Segments
6 Months Ended
Jun. 30, 2012
Segments [Abstract]  
SEGMENTS

NOTE 11 SEGMENTS

We currently manage our operations in one reportable segment, pharmaceuticals. The pharmaceuticals 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. 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 three months ended
June 30,
    For the six months ended
June 30,
 

(in thousands)

  2012     2011     2012     2011  

Operating (loss) income from continuing operations

                               

Pharmaceutical

  $ (5,429   $ (2,317   $ (11,460   $ (3,340

Corporate

    (3,912     (2,458     (6,728     (5,571
   

 

 

   

 

 

   

 

 

   

 

 

 
    $ (9,341   $ (4,775   $ (18,188   $ (8,911
   

 

 

   

 

 

   

 

 

   

 

 

 

Depreciation and amortization

                               

Pharmaceutical

  $ 2,410     $ 908     $ 4,694     $ 1,734  

Corporate

    44       41       88       84  
   

 

 

   

 

 

   

 

 

   

 

 

 
    $ 2,454     $ 949     $ 4,782     $ 1,818  
   

 

 

   

 

 

   

 

 

   

 

 

 
         

Product sales

                               

United States

  $ —       $ —       $ —       $ —    

Chile

    7,187       6,463       12,888       12,189  

Israel

    1,518       —         3,145       —    

Mexico

    1,212       1,965       2,523       3,189  
   

 

 

   

 

 

   

 

 

   

 

 

 
    $ 9,917     $ 8,428     $ 18,556     $ 15,378  
   

 

 

   

 

 

   

 

 

   

 

 

 

 

                 
    As of  
    June 30,
2012
    December 31,
2011
 

Assets

               

Pharmaceutical

  $ 164,988     $ 154,437  

Corporate

    65,483       75,048  

Discontinued operations

    —         4  
   

 

 

   

 

 

 
    $ 230,471     $ 229,489  
   

 

 

   

 

 

 

During the three and six months ended June 30, 2012, no customer represented more than 10% of our total revenue. During the three and six months ended June 30, 2011, our largest customer represented 19% and 23% of our total revenue, respectively. As of June 30, 2012, one customer represented 15% of our accounts receivable balance. As of December 31, 2011, one customer represented 29% of our accounts receivable balance.