Quarterly report pursuant to Section 13 or 15(d)

Segments

v2.4.0.6
Segments
9 Months Ended
Sep. 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, Spain, Mexico, and Israel through the acquisition of OPKO Chile, Farmadiet, 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 three months ended
September 30,
    For the nine months ended
September 30,
 

(In thousands)

  2012     2011     2012     2011  

Operating loss from continuing operations

                               

Pharmaceutical

  $ (5,593   $ (262   $ (17,053   $ (3,601

Corporate

    (3,776     (5,542     (10,504     (11,113
   

 

 

   

 

 

   

 

 

   

 

 

 
    $ (9,369   $ (5,804   $ (27,557   $ (14,714
   

 

 

   

 

 

   

 

 

   

 

 

 

Depreciation and amortization

                               

Pharmaceutical

  $ 2,618     $ 997     $ 7,315     $ 2,731  

Corporate

    44       43       132       127  
   

 

 

   

 

 

   

 

 

   

 

 

 
    $ 2,662     $ 1,040     $ 7,447     $ 2,858  
   

 

 

   

 

 

   

 

 

   

 

 

 

Product sales

                               

United States

  $ —       $ —       $ —       $ —    

Chile

    6,781       5,356       19,669       17,545  

Spain

    1,997       —         1,997       —    

Israel

    1,516       —         4,661       —    

Mexico

    1,201       1,404       3,724       4,568  
   

 

 

   

 

 

   

 

 

   

 

 

 
    $ 11,495     $ 6,760     $ 30,051     $ 22,113  
   

 

 

   

 

 

   

 

 

   

 

 

 

 

                 
    As of  

(In thousands)

  September 30,
2012
    December 31,
2011
 

Assets:

               

Pharmaceutical

  $ 198,483     $ 154,437  

Corporate

    51,539       75,048  

Discontinued operations

    —         4  
   

 

 

   

 

 

 
    $ 250,022     $ 229,489  
   

 

 

   

 

 

 

During the three and nine months ended September 30, 2012, no customer represented more than 10% of our total revenues. During the three and nine months ended September 30, 2011, our largest customer represented 20% and 18% of our total revenues, respectively. As of September 30, 2012, no customer represented more than 10% of our accounts receivable balance. As of December 31, 2011, one customer represented 29% of our accounts receivable balance.