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Segment Information

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company reports its activities in two operating segments; the Clinical Services Segment and the Pharma Services Segment. Our Clinical customers include community based pathology practices, clinician practices, hospitals and academic centers.  Our Pharma customers include pharmaceutical companies to whom we provide testing and other services to support their studies and clinical trials.

In the fourth quarter of 2017, changes were made in the information provided to our Chief Operating Decision Maker (“CODM”); greater detail was provided regarding the performance of our Pharma business and our Clinical business as there was an increased focus on this financial data due to the growth of our Pharma business.  Our CODM also changed the way he was using this financial information to make strategic decisions regarding allocation of resources and evaluating performance of the Company.  This resulted in a change in our operating segments to align with how the CODM views our business which resulted in two operating segments; a Pharma Services segment and a Clinical Services segment.  

We have presented the financial information reviewed by the CODM including revenues, cost of revenue and gross margin for each of our operating segments. The segment information presented in these financial statements has been conformed to present segments on this revised basis for all prior periods.  Assets are not presented at the segment level as that information is not used by the CODM.  

The following table summarizes segment information for the three month periods ended March 31, 2018 and 2017, respectively (in thousands).  

		For the Three-Months Ended March 31,
		2018				2017 (as adjusted)
Net revenues:
Clinical Services		$	56,971			$	52,907
Pharma Services		6,452				4,521
Total Revenue		$	63,423			$	57,428
Cost of revenue:
Clinical Services		$	31,042			$	30,700
Pharma Services		5,078				3,780
Total Cost of Revenue		$	36,120			$	34,480
Gross Profit:
Clinical Services		$	25,929			$	22,207
Pharma Services		1,374				741
Total Gross Profit		$	27,303			$	22,948
Operating expenses:
General and administrative		$	17,067			$	17,018
Research and development		956				862
Sales and marketing		6,775				5,648
Total operating expenses		24,798				23,528
Income (Loss) From Operations		2,505				(580		)
Interest expense, net		1,486				1,364
Other income		(63		)		—
Income (loss) before taxes		1,082				(1,944		)
Income tax (benefit) expense		438				(779		)
Net Income (Loss)		$	644			$	(1,165	)

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- References

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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