Quarterly report pursuant to Section 13 or 15(d)

10. Segment and Geographic Information

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10. Segment and Geographic Information
 9 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Segment and Geographic Information

The Company generates product revenues from wound care products that 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 Company operates a single segment business for product revenues, which consists of three geographical sales territories as follows:

 

    Three Months     Nine Months  
    Ended     Ended  
    December 31,     December 31,  
  2016     2015     2016     2015  
Geographic region                        
United States   $ 1,671,000     $ 1,010,000     $ 4,741,000     $ 2,983,000  
Latin America     465,000       –       465,000       –  
Europe and Rest of World     1,038,000       1,202,000       2,952,000       2,725,000  
      3,174,000       2,212,000       8,158,000       5,708,000  
Product license fees and royalties     –       44,000       –       231,000  
Total product related revenues   $ 3,174,000     $ 2,256,000     $ 8,158,000     $ 5,939,000  

 

During the three and nine months ended December 31, 2016, the Company reported $465,000 of Latin America product revenue related to the Supply Agreement with Invekra.

 

In connection with the Company’s sale of its Latin American business to Invekra, product revenues were reclassified from continuing operations to discontinued operations as follows:

 

    Three Months     Nine Months  
    Ended     Ended  
    December 31,     December 31,  
    2016     2015     2016     2015  
Product revenues   $ 359,000     $ 1,260,000     $ 2,693,000     $ 4,085,000  
Product license fees and royalties     262,000       76,000       412,000       675,000  
Total product related revenues   $ 621,000     $ 1,336,000     $ 3,105,000     $ 4,760,000  

 

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

  

    Three Months     Nine Months  
    Ended     Ended  
    December 31,     December 31,  
  2016     2015     2016     2015  
Partner                        
Exeltis   $ –     $ 44,000     $ –     $ 202,000  
Innovacyn     –       –       –       29,000  
Total product license fees and royalties   $ –     $ 44,000     $ –     $ 231,000  

 

The Company’s service revenues amounted to $187,000 and $227,000 for the three months ended December 31, 2016 and 2015, respectively.

 

The Company’s service revenues amounted to $638,000 and $855,000 for the nine months ended December 31, 2016 and 2015, respectively.