Segment, Customer and Geographical Reporting | 3 Months Ended |
Dec. 31, 2014 |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | Note 9 – Segment, Customer and Geographical Reporting |
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Segment Financial Information |
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Dynasil’s business is comprised of four segments: contract research (“Contract Research”), optics (“Optics”), instruments (“Instruments”) and biomedical (“Biomedical”). Substantially all the operating assets of the Instruments segment were sold in the three months ended December 31, 2013. |
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Within these segments, there is a segregation of reportable units based upon the organizational structure used to evaluate performance and make decisions on resource allocation, as well as availability and materiality of separate financial results consistent with that structure. The Contract Research segment is one of the largest small business participants in U.S. government-funded research. The Optics segment manufactures optical materials, components and coatings. The Biomedical segment, through Xcede Technologies, Inc., a majority owned, joint venture, is focused on developing a tissue sealant technology for a wide spectrum of applications though no assurance can be given that this technology will become successfully commercialized. |
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The Company’s segment information for the three months ended December 31, 2014 and 2013 is summarized below: |
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Results of Operations for the Three Months Ended December 31, | | | | | | | | | | | | | | | | | | | |
2014 | | | | | | | | | | | | | | | | | | | |
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| | Contract | | | | | | | | | | | | |
| | Research | | | Optics | | | Instruments | | | Biomedical | | Total | |
Revenue | | $ | 4,663,000 | | | $ | 4,948,000 | | | $ | - | | | $ | - | | $ | 9,611,000 | |
Gross Profit | | | 2,098,000 | | | | 1,495,000 | | | | - | | | | - | | | 3,593,000 | |
GM % | | | 45 | % | | | 30.2 | % | | | - | | | | - | | | 37.4 | % |
SG&A | | | 1,881,000 | | | | 2,091,000 | | | | - | | | | 235,000 | | | 4,207,000 | |
Gain on sale of assets | | | - | | | | 185,000 | | | | - | | | | - | | | 185,000 | |
Operating Income (Loss) | | | 216,000 | | | | -410,000 | | | | - | | | | -235,000 | | | -429,000 | |
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Depreciation and Amortization | | | 74,000 | | | | 204,000 | | | | - | | | | 15,000 | | | 293,000 | |
Capital expenditures | | | - | | | | 244,000 | | | | - | | | | - | | | 244,000 | |
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Intangibles, Net | | | 290,000 | | | | 752,000 | | | | - | | | | 229,000 | | | 1,271,000 | |
Goodwill | | | 4,939,000 | | | | 1,232,000 | | | | - | | | | - | | | 6,171,000 | |
Total Assets | | $ | 9,036,000 | | | $ | 15,226,000 | | | $ | 289,000 | | | $ | 922,000 | | $ | 25,473,000 | |
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Results of Operations for the Three Months Ended December 31, | | | | | | | | | | | | | | | | | | | |
2013 | | | | | | | | | | | | | | | | | | | |
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| | Contract | | | | | | | | | | | | |
| | Research | | | Optics | | | Instruments | | | Biomedical | | Total | |
Revenue | | $ | 5,840,000 | | | $ | 4,099,000 | | | $ | 773,000 | | | $ | - | | $ | 10,712,000 | |
Gross Profit | | | 2,530,000 | | | | 1,597,000 | | | | 324,000 | | | | - | | | 4,451,000 | |
GM % | | | 43.3 | % | | | 39 | % | | | 41.9 | % | | | - | | | 41.6 | % |
SG&A | | | 2,182,000 | | | | 1,199,000 | | | | 469,000 | | | | 174,000 | | | 4,024,000 | |
Gain on sale of assets | | | - | | | | - | | | | 1,187,000 | | | | - | | | 1,187,000 | |
Operating Income (Loss) | | | 348,000 | | | | 398,000 | | | | 1,042,000 | | | | -174,000 | | | 1,614,000 | |
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Depreciation and Amortization | | | 70,000 | | | | 178,000 | | | | 2,000 | | | | 16,000 | | | 266,000 | |
Capital expenditures | | | - | | | | 131,000 | | | | - | | | | - | | | 131,000 | |
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Intangibles, Net | | | 324,000 | | | | 870,000 | | | | - | | | | 163,000 | | | 1,357,000 | |
Goodwill | | | 4,939,000 | | | | 1,317,000 | | | | - | | | | - | | | 6,256,000 | |
Total Assets | | $ | 10,360,000 | | | $ | 12,538,000 | | | $ | 752,000 | | | $ | 505,000 | | $ | 24,155,000 | |
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Customer Financial Information |
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For the three months ended December 31, 2014, four customers of the Contract Research segment, all various agencies of the U.S. Government, each represented more than 10% of the total segment revenue. For the three months ended December 31, 2013, three customers, all various agencies of the U.S. Government, each represented more than 10% of the total segment revenue. For the three months ended December 31, 2014 and 2013, these customers made up 72% and 64%, respectively, of Contract Research revenue. |
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For the three months ended December 31, 2014 and 2013, there was no customer in the Optics segment whose revenue represented more than 10% of the total segment revenue. |
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For the three months ended December 31, 2014 and 2013, the Biomedical segment had no revenue. |
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Geographic Financial Information |
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Revenue by geographic location in total and as a percentage of total revenue, for the three months ended December 31, 2014 and 2013 are as follows: |
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| | Three Months Ended | | Three Months Ended | | | | | | | |
| | December 31, 2014 | | December 31, 2013 | | | | | | | |
Geographic Location | | Revenue | | % of Total | | Revenue | | % of Total | | | | | | | |
United States | | $ | 7,682,000 | | | 80 | % | $ | 8,908,000 | | | 83 | % | | | | | | |
Europe | | | 884,000 | | | 9 | % | | 830,000 | | | 8 | % | | | | | | |
Other | | | 1,045,000 | | | 11 | % | | 974,000 | | | 9 | % | | | | | | |
| | $ | 9,611,000 | | | 100 | % | $ | 10,712,000 | | | 100 | % | | | | | | |
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