COMVERGE, INC. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - May 10, 2012

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INNOVATIVE DESIGNS INC - 10-Q, Quarterly Report
v2.4.0.6
Segment Information
 3 Months Ended
Mar. 31, 2012
Segment Information [Abstract]  
Segment Reporting Disclosure [Text Block]
Segment Information

As of March 31, 2012, the Company had two reportable segments: the Residential Business segment and the C&I Business segment. Management has three primary measures of segment performance: revenue, gross profit and operating income. The Company does not allocate assets and liabilities to its operating segments. All inter-operating segment revenues were eliminated in consolidation. During the three months ended March 31, 2012, 89% of revenues were generated with domestic customers.

The Residential Business segment sells intelligent energy management solutions to utility customers for use in programs with residential and small commercial end-use participants.  These solutions include intelligent hardware, our IntelliSOURCE software and services, such as installation, customer acquisition marketing and program management.  If the Company enters into a fully-outsourced pay-for-performance agreement providing capacity or energy, in which it typically owns the intelligent energy management system, the Company refers to the program as a VPC program.  The VPC programs are pay-for-performance in that the Company is only paid for capacity that it provides as determined by a measurement and verification process with its customers. For VPC programs, cost of revenue is based on operating costs of the demand response system, primarily telecommunications costs related to the system and depreciation of the assets capitalized in building the demand response system. If the customer elects to own the intelligent energy management system, the Company refers to the program as a turnkey program. For turnkey programs and other sales, product and service cost of revenue includes materials, labor and overhead.    

The C&I Business segment provides intelligent energy management solutions to utilities and independent system operators that are managing programs or auctions for large C&I consumers.  These solutions are delivered through the management of C&I megawatts in open markets and VPC programs as well as through the completion of energy efficiency projects. Cost of revenue includes participant payments for the VPC and open market programs as well as materials, labor and overhead for the energy efficiency programs.  

Operating expenses directly associated with each operating segment include sales, marketing, product development, amortization of intangible assets and certain administrative expenses.  Operating expenses not directly associated with an operating segment are classified as “Corporate Unallocated Costs.” Corporate Unallocated Costs include support group compensation, travel, professional fees and marketing activities.
 
The following tables show operating results for each of the Company’s reportable segments:

 
Three Months Ended
March 31, 2012
 
Residential
Business
 
C&I
Business
 
Corporate
Unallocated
Costs
 
Total
Revenue
 
 
 
 
 
 
 
Product
$
8,095

 
$
—

 
$
—

 
$
8,095

Service
11,654

 
12,832

 
—

 
24,486

Total revenue
19,749

 
12,832

 
—

 
32,581

Cost of revenue
 

 
 

 
 

 
 

Product
6,125

 
—

 
—

 
6,125

Service
6,285

 
3,657

 
—

 
9,942

Total cost of revenue
12,410

 
3,657

 
—

 
16,067

Gross profit
7,339

 
9,175

 
—

 
16,514

Operating expenses
 

 
 

 
 

 
 

General and administrative expenses
4,280

 
1,042

 
6,040

 
11,362

Marketing and selling expenses
2,564

 
1,943

 
527

 
5,034

Research and development expenses
1,133

 
—

 
—

 
1,133

Amortization of intangible assets
—

 
62

 
4

 
66

Operating income (loss)
(638
)
 
6,128

 
(6,571
)
 
(1,081
)
Interest and other expense (income), net
1

 
(139
)
 
1,523

 
1,385

Income (loss) before income taxes
$
(639
)
 
$
6,267

 
$
(8,094
)
 
$
(2,466
)


 
Three Months Ended
March 31, 2011
 
Residential
Business
 
C&I
Business
 
Corporate
Unallocated
Costs
 
Total
Revenue
 
 
 
 
 
 
 
Product
$
4,691

 
$
—

 
$
—

 
$
4,691

Service
10,567

 
3,367

 
—

 
13,934

Total revenue
15,258

 
3,367

 
—

 
18,625

Cost of revenue
 
 
 
 
 
 
 

Product
3,462

 
—

 
—

 
3,462

Service
4,981

 
2,415

 
—

 
7,396

Total cost of revenue
8,443

 
2,415

 
—

 
10,858

Gross profit
6,815

 
952

 
—

 
7,767

Operating expenses
 
 
 
 
 
 
 

General and administrative expenses
3,647

 
990

 
5,597

 
10,234

Marketing and selling expenses
1,770

 
1,865

 
1,454

 
5,089

Research and development expenses
1,049

 
—

 
—

 
1,049

Amortization of intangible assets
—

 
233

 
4

 
237

Operating income (loss)
349

 
(2,136
)
 
(7,055
)
 
(8,842
)
Interest and other expense, net
1

 
1

 
927

 
929

Income (loss) before income taxes
$
348

 
$
(2,137
)
 
$
(7,982
)
 
$
(9,771
)

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