XML 45 R22.htm IDEA: XBRL DOCUMENT v3.3.1.900
Geographical Information
12 Months Ended
Sep. 30, 2015
Segment Reporting [Abstract]  
Geographical Information
Geographical Information

Following the sale of the Photovoltaics Business on December 10, 2014, the Company has one remaining reportable segment: Fiber Optics. See also Note 4 - Discontinued Operations for additional disclosures.

EMCORE's Fiber Optics business provides optical components, as well as a provider of complete end-to-end solutions for high-speed communications network infrastructures, enabling systems and service providers to meet growing demand for bandwidth and connectivity. EMCORE’s advanced optical technologies are designed for cable television (CATV) and fiber-to-the-premise (FTTP) networks, telecommunications and data centers, satellite communications, aerospace and defense, wireless networks, and broadcast and professional audio/video systems.

On October 22, 2014, EMCORE entered into the Digital Products Agreement with NeoPhotonics pursuant to which the Company agreed to sell the Digital Products Business to NeoPhotonics for an aggregate purchase price of $17.5 million, subject to certain purchase price adjustments. On January 2, 2015, EMCORE completed the sale of the Digital Products Business.
The financial results of the Photovoltaics and Digital Products Businesses are presented as "discontinued operations" on the consolidated statements of operations for the fiscal years ended September 30, 2015, 2014 and 2013; and the assets and liabilities of the Photovoltaics and Digital Products Businesses are presented as "Assets of discontinued operations" and "Liabilities of discontinued operations" on the consolidated balance sheet as of September 30, 2014. No Photovoltaics or Digital Products assets and liabilities that were sold remain on the consolidated balance sheet as of September 30, 2015.
We evaluate our reportable segment 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 segment and allocates resources to segment based on their business prospects, competitive factors, net revenue, operating results, and other non-GAAP financial ratios. Based on this evaluation, the Company operates as a single reportable segment.
Revenue: The following tables set forth revenue by geographic region with revenue assigned to geographic regions based on our customers’ billing address and exclude the discontinued operations discussed above.

Revenue by Geographic Region
For the Fiscal Years Ended September 30,
(in thousands)
2015
 
2014
 
2013
United States
$
55,736

 
$
37,284

 
$
45,228

Asia
16,885

 
8,652

 
11,583

Europe
8,249

 
7,746

 
3,729

Other
815

 
1,832

 
431

Total revenue
$
81,685

 
$
55,514

 
$
60,971



Significant Customers: Significant customers are defined as customers representing greater than 10% of our consolidated revenue. Revenue from four of our significant customers represented 61% of our consolidated revenue for the fiscal year ended September 30, 2015. Revenue from three of our significant customers represented 41% and 40% of our consolidated revenue for the fiscal years ended September 30, 2014 and 2013, respectively.


Long-lived Assets: Long-lived assets consist primarily of property, plant, and equipment and intangible assets. Long-lived assets that were disposed of as the result of the Photovoltaics and Digital Products Asset Sales were included in "Assets of discontinued operations" on the Consolidated Balance Sheet as of September 30, 2014, and accordingly, are not included in the following table.

Long-lived Assets
As of
 
As of
(in thousands)
September 30, 2015
 
September 30, 2014
United States
$
3,356

 
$
4,997

International
5,569

 
5,531

Long-lived assets
$
8,925

 
$
10,528



As of September 30, 2015 and 2014, approximately 38% and 47%, respectively, of our long-lived assets were located in the United States. The remaining assets are primarily located in China. During the fiscal year ended September 30, 2015, as a result of the revision in the estimated amount and timing of cash flows for asset retirement obligations in the United States, the Company reduced its asset retirement obligations liability by $2.9 million with an offsetting reduction to property, plant, and equipment, net of $2.1 million, and recorded a gain from the change in estimate on ARO obligation of $0.8 million. See Note 14 - Commitments and Contingencies for additional information.