General form of registration statement for all companies including face-amount certificate companies

Segment Disclosures

v2.4.0.8
Segment Disclosures
 12 Months Ended
Dec. 31, 2013
Segment Disclosures [Abstract]  
Segment Disclosures

17. Segment Disclosures

 

The Company has two reportable segments, Engineering Services and Medical. Engineering Services generates revenue principally from collaborative research and development service arrangements, technology license agreements, and government grants where it used its robotics domain knowledge in bionic exoskeletons to bid on and procure contracts and grants from entities such as such as the National Science Foundation and the Defense Advanced Research Projects Agency. The Medical segment designs, engineers, and manufactures exoskeletons for applications in the medical and military markets.

 

The Company evaluates performance and allocates resources based on segment gross profit margin. The reportable segments are each managed separately because they serve distinct markets, and one segment provides a service and the other manufactures and distributes a unique product. The Company does not consider net assets as a segment measure and, accordingly, assets are not allocated.

 

Segment reporting information is as follows:

 

    Engineering     Medical        
    Services     Devices     Total  
                   
Year ended December 31, 2013                        
Revenue   $ 1,690,235     $ 1,611,709     $ 3,301,944  
Cost of revenue     1,253,942       1,460,692       2,714,634  
Gross profit   $ 436,293     $ 151,017     $ 587,310  
                         
Year ended December 31, 2012                        
Revenue   $ 2,140,355     $ 566,222     $ 2,706,577  
Cost of revenue     1,782,848       553,429       2,336,277  
Gross profit   $ 357,507     $ 12,793     $ 370,300  

 

Geographic information based on location of customer is as follows:

 

    For the years ended
December 31,		  
    2013     2012  
             
United States   $ 2,810,973     $ 2,652,265  
Europe     418,876       54,312  
Other     72,095       -  
    $ 3,301,944     $ 2,706,577  

 

Major customers based on revenue are as follows:

 

    For the years ended
December 31,		  
    2013     2012  
Lockheed Martin (Astrolink)   $ 337,796     $ 568,002  
National Science Foundation     780,579       874,492  
U.S. Federal Government     150,000       416,422  
Defense Advanced Research Projects Agency     411,360     $ 281,440