Segment Data and Related Information

9 Months Ended

Jun. 30, 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 June 30,				For the Nine Months Ended June 30,
(in thousands)	2013		2012		2013		2012
Fiber Optics revenue	$	21,560	$	25,827	$	74,368	$	66,068
Photovoltaics revenue	11,913		15,235		50,688		50,225
Total revenue	$	33,473	$	41,062	$	125,056	$	116,293

Revenue by Geographic Region	For the Three Months Ended June 30,				For the Nine Months Ended June 30,
(in thousands)	2013		2012		2013		2012
United States	$	21,674	$	30,249	$	84,665	$	79,466
Asia	10,012		7,413		27,737		17,898
Europe	1,605		1,333		11,710		4,877
Other	182		2,067		944		14,052
Total revenue	$	33,473	$	41,062	$	125,056	$	116,293

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: Revenue from Suncore represented 11% of our consolidated revenues for the three months ended June 30, 2013. See Note 15 - Suncore Joint Venture for additional disclosures related to the Suncore revenues. No single customer from the Fiber segment segment represented greater than 10% of our consolidated revenue for the three and nine months ended June 30, 2013. Revenue from one customer of the Photovoltaics segment represented 16% and 15% of our consolidated revenue for the three and nine months ended June 30, 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 June 30,						For the Nine Months Ended June 30,
(in thousands)	2013			2012			2013			2012
Fiber Optics operating income (loss)	$	(8,998	)	$	(3,840	)	$	(1,501	)	$	(22,284	)
Photovoltaics operating income (loss)	1,329			(4,918		)	8,849			(7,048		)
Total operating income (loss)	$	(7,669	)	$	(8,758	)	$	7,348		$	(29,332	)

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 June 30,				For the Nine Months Ended June 30,
(in thousands)	2013		2012		2013		2012
Fiber Optics segment	$	1,479	$	993	$	4,145	$	3,919
Photovoltaics segment	620		973		2,016		3,199
Total depreciation, amortization, and accretion expense	$	2,099	$	1,966	$	6,161	$	7,118

Stock-based Compensation Expense	For the Three Months Ended June 30,				For the Nine Months Ended June 30,
(in thousands)	2013		2012		2013		2012
Fiber Optics segment	$	686	$	843	$	2,114	$	3,813
Photovoltaics segment	466		432		1,171		2,184
Total stock-based compensation expense	$	1,152	$	1,275	$	3,285	$	5,997

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)	June 30, 2013		September 30, 2012
Fiber Optics segment	$	25,057	$	24,209
Photovoltaics segment	39,806		40,252
Unallocated Corporate division	8,662		7,247
Long-lived assets	$	73,525	$	71,708

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