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Segment, Customer and Geographical Reporting
 6 Months Ended
Mar. 31, 2013
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

Note 10 – Segment, Customer and Geographical Reporting

 

Segment Financial Information

 

Dynasil’s business is comprised of four segments: contract research (“Contract Research”), optics (“Optics”), instruments (“Instruments”) and biomedical (“Biomedical”). 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 Instruments segment manufactures specialized instruments used in various applications in the medical, industrial, and homeland security/defense sectors. The Biomedical segment is developing technologies for a wide spectrum of applications, including hematology, hypothermic core cooling and tissue sealants and will primarily pursue product commercialization of technologies and technology licensing opportunities though no assurance can be given that any of these technologies will become successfully commercialized.

 

The Company’s segment information for the three months ended March 31, 2013 and 2012 is summarized below:

 

Results of Operations for the Three Months Ended March 31,
2013
    Contract Research     Optics     Instruments     Biomedical     Total  
Revenue   $ 5,487,850     $ 3,931,766     $ 1,014,320     $ 50,594     $ 10,484,530  
Gross Profit     2,647,870       1,632,007       461,101       50,594       4,791,572  
Impairment of goodwill & long-lived assets     -0-       -0-       6,763,072       -0-       6,763,072  
Operating Income (Loss)     232,015       2,336       (7,270,801 )     (211,564 )     (7,248,014 )
                                         
Depreciation and Amortization     79,637       184,696       164,384       15,000       443,717  
Capital expenditures     (187,425 )     87,536       -0-       -0-       (99,889 )
                                         
Intangibles, Net     349,786       866,488       2,349,767       209,997       3,776,038  
Goodwill     4,938,625       1,197,017       -0-       -0-       6,135,642  
Total Assets     13,332,151       9,748,703       4,862,956       334,658       28,278,468  

 

Results of Operations for the Three Months Ended March 31,
2012
    Contract Research     Optics     Instruments     Biomedical     Total  
Revenue   $ 6,978,973     $ 3,684,213     $ 1,629,248     $ 6,576     $ 12,299,010  
Gross Profit     2,771,643       1,471,367       837,368       3,965       5,084,343  
Operating Income (Loss)     158,278       30,970       (538,996 )     (249,968 )     (599,716 )
                                         
Depreciation and Amortization     57,777       155,597       134,699       15,000       363,073  
Capital expenditures     85,199       183,965       12,823       -0-       281,987  
                                         
Intangibles, Net     402,434       1,790       5,374,500       270,000       6,048,724  
Goodwill     4,938,625       2,115,376       6,299,571       -0-       13,353,572  
Total Assets     12,797,372       11,385,312       15,276,724       249,537       39,708,945  

 

The Company’s segment information for the six months ended March 31, 2013 and 2012 is summarized below:

 

Results of Operations for the Six Months Ended March 31,
2013
    Contract Research     Optics     Instruments     Biomedical     Total  
Revenue   $ 10,398,690     $ 8,183,706     $ 2,298,358     $ 157,051     $ 21,037,805  
Gross Profit     4,861,923       3,332,562       1,066,902       157,051       9,418,438  
Impairment of goodwill & long-lived assets     -0-       -0-       6,763,072       -0-       6,763,072  
Operating Income (Loss)     231,409       388,012       (7,726,495 )     (332,227 )     (7,439,301 )
                                         
Depreciation and Amortization     142,419       370,324       327,432       30,000       870,175  
Capital expenditures     (1,095 )     209,682       7,092       -0-       215,679  
                                       
Intangibles, Net     349,786       866,488       2,349,767       209,997       3,776,038  
Goodwill     4,938,625       1,197,017       -0-       -0-       6,135,642  
Total Assets     13,332,151       9,748,703       4,862,956       334,658       28,278,468  

 

Results of Operations for the Six Months Ended March 31,
2012
    Contract Research     Optics     Instruments     Biomedical     Total  
Revenue   $ 13,204,256     $ 7,596,764     $ 3,612,784     $ 17,501     $ 24,431,305  
Gross Profit     5,211,931       2,933,785       2,088,791       (23,216 )     10,211,291  
Operating Income (Loss)     303,495       195,093       (459,452 )     (452,524 )     (413,388 )
                                         
Depreciation and Amortization     94,937       349,100       269,156       30,000       743,193  
Capital expenditures     347,219       324,841       15,268       -0-       687,328  
                                         
Intangibles, Net     402,434       1,790       5,374,500       270,000       6,048,724  
Goodwill     4,938,625       2,115,376       6,299,571       -0-       13,353,572  
Total Assets     12,797,372       11,385,312       15,276,724       249,537       39,708,945  

  

Customer Financial Information

 

For the three and six months ended March 31, 2013 and 2012, the top three customers for the Contract Research segment were various agencies of the U.S. Government. For the three months ended March 31, 2013 and 2012, these customers made up 61% and 72%, respectively, of Contract Research revenue. For the six months ended March 31, 2013 and 2012, these customers made up 63% and 76%, respectively, of Contract Research revenue.

 

For the three and six months ended March 31, 2013 and 2012, there was no customer in the Optics segment whose revenue represented more than 10% of the total segment revenue for the three or the six months ended March 31, 2013 and 2012.

 

For the three months ended March 31, 2013 and 2012, the top three customers for the Instruments segment made up 30% and 32%, respectively, of Instruments revenue. For the six months ended March 31, 2013 and 2012, the top three customers for the Instruments segment made up 32% and 29%, respectively, of Instruments revenue.

 

For the three and six months ended March 31, 2013, the Biomedical segment had one customer whose revenue represented 100% of the total segment revenue. For the three and six months ended March 31, 2012, the Biomedical segment had one customer whose revenue represented 100% of the total segment revenue.

 

Geographic Financial Information

 

Revenue by geographic location in total and as a percentage of total revenue, for the three months ended March 31, 2013 and 2012 are as follows:

 

    Three Months Ended     Three Months Ended  
    March 31, 2013     March 31, 2012  
Geographic Location   Revenue     % of Total     Revenue     % of Total  
United States   $ 8,572,033       82 %   $ 10,287,397       84 %
Europe     847,662       8 %     1,103,021       9 %
Other     1,064,836       10 %     908,592       7 %
    $ 10,484,530       100 %   $ 12,299,010       100 %

 

Revenue by geographic location in total and as a percentage of total revenue, for the six months ended March 31, 2013 and 2012 are as follows:

 

    Six Months Ended     Six Months Ended  
    March 31, 2013     March 31, 2012  
Geographic Location   Revenue     % of Total     Revenue     % of Total  
United States   $ 17,066,521       82 %   $ 20,315,876       83 %
Europe     1,736,003       8 %     2,229,373       9 %
Other     2,235,282       10 %     1,886,056       8 %
    $ 21,037,805       100 %   $ 24,431,305       100 %