Segment Data and Related Information

6 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

Segment Data and Related Information

Segment Data and Related Information

We have four operating divisions within the following two reporting segments:

• Fiber Optics: EMCORE Digital Fiber Optics Products and EMCORE Broadband Fiber Optics Products are aggregated as a separate reporting segment, Fiber Optics. Our Fiber Optics reporting segment provides optical components, subsystems, and systems for high-speed telecommunications, cable television (CATV), and fiber-to-the-premise (FTTP) networks, as well as products for satellite communications, video transport, and specialty photonics technologies for defense and homeland security applications.

• Photovoltaics: EMCORE Photovoltaics and EMCORE Solar Power are aggregated as a separate reporting segment, Photovoltaics. Our Photovoltaics reporting segment provides products for both space and terrestrial solar power applications. For space solar power applications, we offer high-efficiency multi-junction solar cells, covered interconnect cells (CICs), and complete satellite solar panels.

We evaluate our reportable segments pursuant to ASC 280, Segment Reporting. The Company's Chief Executive Officer is the chief operating decision maker and he assesses the performance of the operating segments and allocates resources to segments based on their business prospects, competitive factors, net revenue, operating results, and other non-GAAP financial ratios.

Revenue: The following tables set forth revenue attributable to each of our reporting segments and by geographic region with revenue assigned to geographic regions based on our customers’ billing address.

Segment Revenue	For the Three Months Ended March 31,				For the Six Months Ended March 31,
(in thousands)	2013		2012		2013		2012
Fiber Optics revenue	$	23,130	$	21,938	$	52,808	$	40,241
Photovoltaics revenue	19,147		15,842		38,775		34,990
Total revenue	$	42,277	$	37,780	$	91,583	$	75,231

Revenue by Geographic Region	For the Three Months Ended March 31,				For the Six Months Ended March 31,
(in thousands)	2013		2012		2013		2012
United States	$	28,324	$	25,207	$	62,991	$	47,573
Asia	8,825		6,513		17,725		11,785
Europe	4,892		1,512		10,105		3,673
Other	236		4,548		762		12,200
Total revenue	$	42,277	$	37,780	$	91,583	$	75,231

Revenue by geographic location is determined based on the location of our customer.

Impact from Thailand Flood: In October 2011, we announced that flood waters had severely impacted the inventory and production operations of our primary contract manufacturer in Thailand. The impacted areas included certain product lines for the Telecom and Cable Television (CATV) market segments. This had a significant impact on our operations and our ability to meet customer demand for certain of our fiber optics products. Our Photovoltaics segment was not affected by the Thailand floods. See Note 9 - Impact from Thailand Flood for additional disclosures related to the impact of the Thailand flood on our operations.

Sale of Fiber Optics-related Assets: On May 7, 2012, we sold certain assets and transferred certain inventory purchase obligations associated with our Fiber Optics segment to SEI. See Note 1 - Description of Business for additional disclosures related to this asset sale.

Significant Customers: No single customer from the Fiber segment or Photovoltaics segment represented greater than 10% of our consolidated revenue for the three and six months ended March 31, 2013. Revenue from one customer of the Photovoltaics segment represented 20% and 15% of our consolidated revenue for the three and six months ended March 31, 2012.

Operating Income (Loss): The following table sets forth operating income (loss) attributable to each of our reporting segments.

Operating Income (Loss)	For the Three Months Ended March 31,					For the Six Months Ended March 31,
(in thousands)	2013		2012			2013		2012
Fiber Optics operating income (loss)	$	7,892	$	(7,251	)	$	7,497	$	(18,444	)
Photovoltaics operating income (loss)	4,279		(1,633		)	7,520		(2,130		)
Total operating income (loss)	$	12,171	$	(8,884	)	$	15,017	$	(20,574	)

Non-Cash Expenses: The following tables set forth our significant non-cash expenses attributable to each of our reporting segments.

Depreciation, Amortization, and Accretion Expense	For the Three Months Ended March 31,				For the Six Months Ended March 31,
(in thousands)	2013		2012		2013		2012
Fiber Optics segment	$	1,384	$	1,271	$	2,666	$	2,926
Photovoltaics segment	660		1,106		1,396		2,226
Total depreciation, amortization, and accretion expense	$	2,044	$	2,377	$	4,062	$	5,152

Stock-based Compensation Expense	For the Three Months Ended March 31,				For the Six Months Ended March 31,
(in thousands)	2013		2012		2013		2012
Fiber Optics segment	$	702	$	1,575	$	1,428	$	2,970
Photovoltaics segment	349		967		705		1,752
Total stock-based compensation expense	$	1,051	$	2,542	$	2,133	$	4,722

Long-lived Assets: Long-lived assets consist primarily of property, plant, and equipment and also goodwill and intangible assets.  The following table sets forth long-lived assets for each of our reporting segments and our unallocated Corporate division.

Long-lived Assets	As of		As of
(in thousands)	March 31, 2013		September 30, 2012
Fiber Optics segment	$	26,017	$	24,209
Photovoltaics segment	38,868		40,252
Unallocated Corporate division	8,753		7,247
Long-lived assets	$	73,638	$	71,708

As of March 31, 2013 and September 30, 2012, approximately 77% and 86%, respectively, of our long-lived assets were located in the United States.