Segment And Geographic Information

12 Months Ended

Dec. 31, 2014

Segment And Geographic Information [Abstract]

Segment And Geographic Information

19.  Segment and Geographic Information

The Company has two reportable segments organized according to its products and services: Medical Devices and Preservation Services.  The Medical Devices segment includes external revenues from product sales of BioGlue, BioFoam, PerClot, CardioGenesis cardiac laser therapy, HeRO Graft, and ProCol.  The Preservation Services segment includes external services revenues from the preservation of cardiac and vascular tissues.  There are no intersegment revenues.

The primary measure of segment performance, as viewed by the Company’s management, is segment gross margin, or net external revenues less cost of products and preservation services.  The Company does not segregate assets by segment; therefore, asset information is excluded from the segment disclosures below.

The following table summarizes revenues, cost of products and preservation services, and gross margins for the Company’s operating segments (in thousands):

	2014		2013		2012
Revenues:
Medical devices	$	81,883	$	76,194	$	67,496
Preservation services		62,758		64,498		63,603
Othera		--		71		619
Total revenues		144,641		140,763		131,718
Cost of products and preservation services:
Medical devices		17,167		15,147		11,380
Preservation services		36,183		35,230		35,320
Total cost of products and preservation services		53,350		50,377		46,700
Gross margin:
Medical devices		64,716		61,047		56,116
Preservation services		26,575		29,268		28,283
Othera		--		71		619
Total gross margin	$	91,291	$	90,386	$	85,018

Net revenues by product for the years ended December 31, 2014,  2013, and 2012 were as follows (in thousands):

	2014		2013		2012
Products:
BioGlue and BioFoam	$	62,091	$	58,004	$	53,211
PerClot		4,289		3,494		3,078
CardioGenesis cardiac laser therapy		8,225		8,965		8,092
HeRO Graft		7,131		5,731		3,115
ProCol		147		--		--
Total products		81,883		76,194		67,496
Preservation services:
Cardiac tissue		29,437		29,523		29,756
Vascular tissue		33,321		34,975		33,847
Total preservation services		62,758		64,498		63,603
Othera		--		71		619
Total revenues	$	144,641	$	140,763	$	131,718

aFor the years ended December 31, 2013 and 2012 the “Other” designation includes grant revenue.

Net revenues by geographic location attributed to countries based on the location of the customer for the years ended December 31, 2014,  2013, and 2012 were as follows (in thousands):

	2014		2013		2012
U.S.	$	110,533	$	109,325	$	103,804
International		34,108		31,438		27,914
Total revenues	$	144,641	$	140,763	$	131,718

At December 31, 2014 and 2013 over 95% of the long‑lived assets of the Company were held in the U.S., where all of the Company’s manufacturing facilities and the corporate headquarters are located.  At December 31, 2014 and 2013 the Company’s $11.4 million of goodwill was allocated entirely to its Medical Devices segment.