Segment Data and Related Information

6 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Segment Data and Related Information

Segment Data and Related Information

We have three 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 is 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. For terrestrial power applications, we offer high-efficiency GaAs solar cells for concentrating photovoltaic (CPV) power systems.

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)	2014		2013		2014		2013
Fiber Optics revenue	$	23,620	$	23,130	$	46,912	$	52,808
Photovoltaics revenue	18,627		19,147		39,546		38,775
Total revenue	$	42,247	$	42,277	$	86,458	$	91,583

Revenue by Geographic Region	For the three months ended March 31,				For the six months ended March 31,
(in thousands)	2014		2013		2014		2013
United States	$	27,016	$	28,324	$	55,113	$	62,991
Asia	11,093		8,825		21,380		17,725
Europe	3,986		4,892		9,420		10,105
Other	152		236		545		762
Total revenue	$	42,247	$	42,277	$	86,458	$	91,583

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

Significant Customers: Revenue from one of our customers of the Photovoltaics segment represented 12% and 11% of our consolidated revenue for the three and six months ended March 31, 2014. No single customer from the Photovoltaics segment represented greater than 10% of our consolidated revenue for the three and six months ended March 31, 2013. No single customer from the Fiber segment represented greater than 10% of our consolidated revenue for the three and six months ended March 31, 2014 and 2013.

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

Operating (Loss) Income	For the three months ended March 31,					For the six months ended March 31,
(in thousands)	2014			2013		2014			2013
Fiber Optics operating (loss) income	$	(7,320	)	$	7,892	$	(13,891	)	$	7,497
Photovoltaics operating income	2,071			4,279		6,402			7,520
Total operating (loss) income	$	(5,249	)	$	12,171	$	(7,489	)	$	15,017

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)	2014		2013		2014		2013
Fiber Optics segment	$	1,456	$	1,384	$	2,940	$	2,666
Photovoltaics segment	639		660		1,223		1,396
Total depreciation, amortization, and accretion expense	$	2,095	$	2,044	$	4,163	$	4,062

Stock-based Compensation Expense	For the three months ended March 31,				For the six months ended March 31,
(in thousands)	2014		2013		2014		2013
Fiber Optics segment	$	674	$	702	$	1,429	$	1,428
Photovoltaics segment	430		349		810		705
Total stock-based compensation expense	$	1,104	$	1,051	$	2,239	$	2,133

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, 2014		September 30, 2013
Fiber Optics segment	$	21,490	$	23,804
Photovoltaics segment	39,408		40,048
Unallocated Corporate division	8,349		8,435
Long-lived assets	$	69,247	$	72,287

As of March 31, 2014 and September 30, 2013, approximately 81% and 80%, respectively, of our long-lived assets were located in the United States. The remaining assets are primarily located in China and Thailand.