6. Business Segments and Major Customers

In the first quarter of fiscal year 2014, the Company was internally reorganized to better align the Company’s go-to-market and service delivery capabilities and to maximize opportunities in serving telecommunications, media and technology customers. The three former operating segments within North America (North America Cable and Broadband, North America Telecom and Strategy) were integrated into one operating segment. The EMEA segment is a single reportable, operating segment. In addition, beginning in the first quarter of fiscal year 2014 management of the Company’s United Kindgom strategy practice has been moved from the United States to London and is reflected in the EMEA segment. As a result of this internal realignment, corresponding segment information for prior periods has been restated to conform to the current reportable segment presentation.

The Company identifies its segments based on the way management organizes the Company to assess performance and make operating decisions regarding the allocation of resources. In accordance with the criteria in FASB ASC 280 "Segment Reporting," the Company has concluded it has three reportable segments: the North America segment, the EMEA segment and the Strategic Alliances segment. The North America and EMEA segments are both single reportable, operating segments that encompass the Company’s operational, technology and software consulting services inside of North America and outside of North America, respectively. Both reportable segments offer management consulting, custom developed software, and technical services. The Strategic Alliances reportable segment is a single, reportable segment that includes the Company’s world-wide commercial activities undertaken with third party service or solutions providers.

Management evaluates segment performance based upon income (loss) from operations, excluding share-based compensation (benefits), depreciation and intangibles amortization. There were no inter-segment revenues during the thirteen weeks ended March 29, 2014 or March 30, 2013. In addition, in its administrative division, entitled “Not Allocated to Segments,” the Company accounts for non-operating activity and the costs of providing corporate and other administrative services to all the segments. Summarized financial information concerning the Company’s reportable segments is shown in the following table (amounts in thousands):

	North America		EMEA		Strategic Alliances	Not Allocated to Segments		Total
As of and for the thirteen weeks ended March 29, 2014:
Revenues	$	7,974	$	8,263				$	16,237
Income (loss) from operations		1,779		1,577	(145)		(3,203)		8
Total assets	$	5,489	$	11,778		$	27,450	$	44,717

As of the fiscal year ended December 28, 2013
Total assets	$	4,522	$	7,194		$	25,108	$	36,824

As of and for the thirteen weeks ended March 30, 2013:
Revenues	$	8,792	$	5,218				$	14,010
Income (loss) from operations		2,126		980	(127)	$	(3,117)		(138)
Total assets	$	7,006	$	5,126		$	21,465	$	33,597

Segment assets, regularly reviewed by management as part of its overall assessment of the segments’ performance, include both billed and unbilled trade accounts receivable, net of allowances, and certain other assets, if applicable. Assets not assigned to segments include cash and cash equivalents, current and non-current investments, property and equipment, goodwill and intangible assets and deferred tax assets, excluding deferred tax assets recognized on accounts receivable reserves, which are assigned to their segments.

In accordance with the provisions of FASB ASC 280-10, revenues earned in the United States and internationally based on the location where the services are performed are shown in the following table (amounts in thousands):

	For the Thirteen Weeks Ended
	March 29, 2014		March 30, 2013
United States	$	7,946	$	8,910
International:
United Kingdom		7,761		4,360
Other		530		740
Total	$	16,237	$	14,010

Major customers in terms of significance to Cartesian’s revenues (i.e. in excess of 10% of revenues) and accounts receivable were as follows (amounts in thousands):

	Revenues
	For the thirteen weeks				For the thirteen weeks
	ended March 29, 2014				ended March 30, 2013
	North				North
	America		EMEA		America		EMEA
Customer A	$	-	$	5,705	$	-	$	1,538
Customer B	$	2,831			$	3,359
Customer C	$	1,718			$	1,508
Customer D	$	1,250			$	1,833

	Accounts Receivable
	As of March 29, 2014		As of March 30, 2013
Customer A	$	5,492	$	1,423
Customer B	$	1,945	$	2,236
Customer C	$	690	$	994
Customer D	$	935	$	1,691

Revenues from the Company’s ten most significant customers accounted for approximately 86.5% and 84.7% of revenues during the thirteen weeks ended March 29, 2014 and March 30, 2013, respectively.