UQM TECHNOLOGIES INC - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - January 31, 2012

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v2.4.0.6
Segments
 9 Months Ended
Dec. 31, 2011
Segments  
Segments

(16)       Segments

 

Effective April 1, 2011 the Company merged its wholly-owned subsidiary UQM Power Products, Inc. into UQM Technologies, Inc. As a result of this merger the operations of each of these entities are no longer managed or reported upon to management separately, and accordingly, the Company is no longer presenting segment information in its financial statements.

 

Last fiscal year we had two reportable segments: technology and power products. These reportable segments were strategic business units that offered different products and services. They were managed separately because each business required different business strategies. The technology segment encompassed our technology-based operations including core research to advance our technology, application and production engineering and product development and job shop production of prototype components. The power products segment encompassed the manufacture and sale of motors and electronic controllers. Salaries of the executive officers and corporate general and administrative expense were allocated to each segment annually based on factors established at the beginning of the fiscal year. The percentages allocated to the technology segment and power products segment were 69 percent and 31 percent for the quarter and nine month periods ended December 31, 2010, respectively.

 

Intersegment sales or transfers, which were eliminated upon consolidation, were $75,944 and $717,274, for the quarter and nine month period ended December 31, 2010.

 

The Company leased office, production and laboratory space in a building owned by a wholly-owned subsidiary of the Company. During the quarter and nine month period ended December 31, 2010 this wholly-owned subsidiary's operations were included as part of the former Power Products segment. Intercompany lease payments were based on a negotiated rate for the square footage occupied and were $212,404 and $469,908 for the quarter and nine month period ended December 31, 2010, and were eliminated upon consolidation.

 

The following table summarizes significant financial statement information, after deducting intersegment eliminations of each of the reportable segments as of and for the quarter ended December 31, 2010:

 

 

 

 

 

Power   

 

 

 

 

Technology

 Products 

    Total     

 

Revenue

 

$

1,533,024 

557,450  

2,090,474 

 

Interest income

 

$

10,655 

495  

11,150 

 

Interest expense

 

$

-       

-       

-       

 

Depreciation and amortization

 

$

(120,528)

(107,172) 

(227,700)

 

Segment loss

 

$

(525,198)

(407,322) 

(932,520)

 

Total assets

 

$

30,295,083 

11,329,136  

41,624,219 

 

Expenditures for long-lived segment assets

 

$

(343,156)

(1,286,010) 

(1,629,166)

 

The following table summarizes significant financial statement information, after deducting intersegment eliminations of each of the reportable segments as of and for the nine month period ended December 31, 2010:

 

 

 

 

 

Power   

 

 

 

 

Technology

 Products 

    Total     

 

Revenue

 

$

4,579,053 

2,094,303  

6,673,356 

 

Interest income

 

$

69,306 

1,497  

70,803 

 

Interest expense

 

$

-      

-       

-      

 

Depreciation and amortization

 

$

(343,386)

(272,919) 

(616,305)

 

Segment loss

 

$

(570,334)

(1,226,849) 

(1,797,183)

 

Total assets

 

$

30,295,083 

11,329,136  

41,624,219 

 

Expenditures for long-lived segment assets

 

$

(1,014,258)

(5,062,449) 

(6,076,707)

 

 

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