Annual report pursuant to Section 13 and 15(d)

17. Geographic Information

v3.5.0.1
17. Geographic Information
 12 Months Ended
Mar. 31, 2016
Segment Reporting [Abstract]  
Geographic Information

The Company generates product revenues from products which are sold into the human and animal healthcare markets, and the Company generates service revenues from laboratory testing services which are provided to medical device manufacturers.

 

The following table shows the Company’s product revenues by geographic region:

 

    Year Ended March 31,              
    2016     2015     $ Change     % Change  
United States   $ 4,371,000     $ 1,978,000     $ 2,393,000       121%  
Latin America     4,965,000       5,053,000       (88,000 )     (2% )
Europe and Rest of the World     3,706,000       2,908,000       798,000       27%  
      13,042,000       9,939,000       3,103,000       31%  
Product license fees and royalties     981,000       3,056,000       (2,075,000 )     (68% )
Total   $ 14,023,000     $ 12,995,000     $ 1,028,000       8%  

 

In the year ended March 31, 2016, product license fees and royalties revenue declined primarily as a result of the termination of the Company’s agreement with its former partner Innovacyn and a decrease in the amortization of upfront fees paid by Laboratorios Sanfer.

 

The following table shows the Company’s product license fees and royalties revenue by partner:

 

    Year Ended March 31,              
    2016     2015     $ Change     % Change  
Exeltis/Quinnova   $ 201,000     $ 437,000     $ (236,000 )     (54% )
Innovacyn     29,000       1,120,000       (1,091,000 )     (97% )
Laboratorios Sanfer     751,000       1,499,000       (748,000 )     (50% )
Total   $ 981,000     $ 3,056,000     $ (2,075,000 )     (68% )

 

The Company’s service revenues amounted to $1,061,000 and $859,000 for the years ended March 31, 2016 and 2015.