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10-K - FORM 10-K - TRIMEDYNE INCtmed_10k-093012.htm
EX-32.1 - CERTIFICATION - TRIMEDYNE INCtmed_10k-ex3201.htm
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v2.4.0.6
10. Segment Information
12 Months Ended
Sep. 30, 2012
Notes to Financial Statements  
Note 10 - Segment Information

The Company's segments consist of individual companies managed separately with each manager reporting to the Chief Executive Officer. Revenue, and operating or segment profit, are reflected net of inter-segment sales and profits. Segment profit is comprised of net sales less operating expenses. Other income and expense and income taxes are not allocated and reported by segment since they are excluded from the measure of segment performance reviewed by management.

 

      For the year ended September 30, 2012       For the year ended September 30, 2011  
      Product       Service and Rental       Total       Product       Service and Rental       Total  
                                                 
Revenues   $ 3,588,000     $ 2,492,000     $ 6,080,000     $ 3,930,000     $ 2,726,000     $ 6,656,000  
                                                 
Cost of sales     2,467,000       1,616,000       4,083,000       2,871,000       1,703,000       4,574,000  
                                                 
Gross profit     1,121,000       876,000       1,997,000       1,059,000       1,023,000       2,082,000  
                                                 
Expenses:                                                
Selling, general and administrative     1,872,000       622,000       2,494,000       2,051,000       700,000       2,751,000  
Research and development     673,000             673,000       853,000             853,000  
                                                 
Income (loss) from operations   $ (1,424,000 )   $ 254,000       (1,170,000 )   $ (1,845,000 )   $ 323,000       (1,522,000 )

  

Other income (expense):                                
Interest income                           3,000  
Royalty income     116,000                       96,000  
Interest expense     (10,000 )                     (62,000 )
Net gain on sale of patents     200,000                        
Creditor settlements and recoveries     41,000                       1,000  
Change in fair market value of derivative liabilities                           43,000  
Loss on extinguishment of  note payable                           (36,000 )
                                 
Loss before provision for income taxes     (823,000 )                     (1,477,000 )
                                 
Provision for income taxes     13,000                       9,000  
                                 
Net loss   $ (836,000 )                   $ (1,486,000 )

  

Sales in foreign countries in fiscal 2012 and 2011 accounted for approximately 22.5% and 17.2%, respectively, of the Company's total sales. The breakdown of foreign sales by geographic region is as follows:

 

    2012     2011  
Asia   $ 558,000     $ 558,000  
Europe     238,000       246,000  
Latin America     467,000       111,000  
Middle East           103,000  
Australia     104,000       125,000  
Other     4,000        
    $ 1,371,000     $ 1,143,000  

  

Sales and gross profit to customers by similar products and services for the fiscal years ended September 30, 2012 and 2011 were as follows:

 

    2012     2011  
By similar products and services:                
                 
Sales                
Products:                
Lasers and accessories   $ 781,000     $ 1,264,000  
Fibers, Needles and SwitchTips     2,807,000       2,666,000  
Service and rental     2,492,000       2,726,000  
Total   $ 6,080,000     $ 6,656,000  
Gross profit (loss)                
Products:                
Lasers and accessories   $ (11,000 )   $ 252,000  
Fibers, Needles and Switch Tips     1.132,000       807,000  
Service and rental     876,000       1,023,000  
Total   $ 1,997,000     $ 2,082,000  

  

The Company had one laser each located in Canada, Brazil and India at September 30, 2012. Total segment assets for the Products segment were $621,000 and Service and Rental were $1,691,000 at September 30, 2012. Total segment assets differ from total assets on a consolidated basis as a result of unallocated corporate assets primarily comprised of immaterial amounts of property and equipment, etc. During the year ended September 30, 2012, additions of property and equipment to the Service and Rental segment were $24,000.