Segment Reporting

6 Months Ended

Sep. 30, 2011

Segment Reporting

11. Segment Reporting

The Company views its operations, makes decisions regarding how to allocate resources and manages the business as one operating segment. As a result, the financial information disclosed herein represents all of the material financial information related to the Company’s principal operating segment.

The following table represents the Company’s total revenue by geographic area (based on the location of the customer):

	Three months ended September 30,						Six months ended September 30,
	2011			2010			2011			2010
Sweden		58	%		50	%		51	%		46	%
U.S.		36	%		46	%		41	%		45	%
Other		6	%		4	%		8	%		9	%
		100	%		100	%		100	%		100	%

Royalty revenue from Bristol represented 32% and 34% of the Company’s total revenue for the three months ended September 30, 2011 and 2010, respectively. For the six months ended September 30, 2011 and 2010, royalty revenue from Bristol represented 34% and 35% of the Company’s total revenue, respectively.

The Company’s largest bioprocessing customer accounted for 58% and 50% of total revenues for the three months ended September 30, 2011 and 2010, respectively. For the six months ended September 30, 2011 and 2010, the Company’s largest bioprocessing customer represented 51% and 46% of total revenues, respectively.

Bristol’s royalty payment comprised 41% and 55% of the Company’s accounts receivable at September 30, 2011 and 2010, respectively. The Company’s largest bioprocessing products customer accounted for 52% and 38% of accounts receivable as of September 30, 2011 and 2010, respectively.