Segment Data and Related Information

9 Months Ended

Jun. 30, 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-premises (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 June 30,				For the nine months ended June 30,
(in thousands)	2014		2013		2014		2013
Fiber Optics revenue	$	26,172	$	21,560	$	73,084	$	74,368
Photovoltaics revenue	18,410		11,913		57,956		50,688
Total revenue	$	44,582	$	33,473	$	131,040	$	125,056

Revenue by Geographic Region	For the three months ended June 30,				For the nine months ended June 30,
(in thousands)	2014		2013		2014		2013
United States	$	26,598	$	21,674	$	81,711	$	84,665
Asia	10,064		10,012		31,444		27,737
Europe	6,837		1,605		16,257		11,710
Other	1,083		182		1,628		944
Total revenue	$	44,582	$	33,473	$	131,040	$	125,056

Significant Customers: Revenue from one of our customers, Alcatel-Lucent, of the Fiber Optics segment represented 11% of our consolidated revenue for the three months ended June 30, 2014. No single customer from the Fiber Optics segment represented greater than 10% of our consolidated revenue for the nine months ended June 30, 2014. No single customer from the Fiber Optics segment represented greater than 10% of our consolidated revenue for the three and nine months ended June 30, 2013.

No single customer from the Photovoltaics segment represented greater than 10% of our consolidated revenue for the three and nine months ended June 30, 2014. Revenue from Suncore represented 11% of our consolidated revenue 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 Photovoltaics segment represented greater than 10% of our consolidated revenue for the nine months ended June 30, 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 June 30,						For the nine months ended June 30,
(in thousands)	2014			2013			2014			2013
Fiber Optics operating (loss) income	$	(5,092	)	$	(8,998	)	$	(18,983	)	$	(1,501	)
Photovoltaics operating income	1,961			1,329			8,363			8,849
Total operating (loss) income	$	(3,131	)	$	(7,669	)	$	(10,620	)	$	7,348

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)	2014		2013		2014		2013
Fiber Optics segment	$	1,521	$	1,479	$	4,461	$	4,145
Photovoltaics segment	652		620		1,875		2,016
Total depreciation, amortization, and accretion expense	$	2,173	$	2,099	$	6,336	$	6,161

Stock-based Compensation Expense	For the three months ended June 30,				For the nine months ended June 30,
(in thousands)	2014		2013		2014		2013
Fiber Optics segment	$	792	$	686	$	2,221	$	2,114
Photovoltaics segment	388		466		1,198		1,171
Total stock-based compensation expense	$	1,180	$	1,152	$	3,419	$	3,285

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, 2014		September 30, 2013
Fiber Optics segment	$	20,188	$	23,804
Photovoltaics segment	39,298		40,048
Unallocated Corporate division	8,342		8,435
Long-lived assets	$	67,828	$	72,287

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