XML 64 R17.htm IDEA: XBRL DOCUMENT v2.4.0.6
Segment Information
 12 Months Ended
Jun. 30, 2012
Segment Reporting [Abstract]  
Segment Information
11.
Segment Information
The Company discloses certain information regarding operating segments, products and services, geographic areas of operation and major customers. This reporting is based upon the “management approach”: how management organizes the Company’s operating segments for which separate financial information is (i) available and (ii) evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Adept’s chief operating decision maker is its Chief Executive Officer, or CEO.
Adept’s business is focused towards delivering intelligent flexible production automation products, components and services for assembly, packaging, material handling and lab automation applications under two operating segments: Robotics and Services and Support.
•
The Robotics segment provides intelligent motion control systems, production automation software, including vision-guidance and application software, and robot mechanisms to customers.
•
The Services and Support segment provides support services to customers including: spare parts for, and/or remanufacture of, robot mechanisms; information regarding the use of the Company’s automation equipment; ongoing support of installed systems; consulting services for applications; and training courses ranging from system operation and maintenance to advanced programming, geared towards manufacturing engineers who design and implement automation lines.
The Company evaluates performance and allocates resources based on segment revenue and segment operating income (loss). Segment operating income (loss) is comprised of income before unallocated research, development and engineering expenses, unallocated selling, general and administrative expenses, interest income, and interest and other expenses.
Management does not fully allocate research, development and engineering expenses and selling, general and administrative expenses when making capital spending and expense funding decisions or assessing segment performance. There is no inter-segment revenue recognized. Transfers of materials or labor between segments are recorded at cost.
Segment information for total assets and capital expenditures is not presented as such information is not used in measuring segment performance or allocating resources between segments.

The following table summarizes the Company’s segment results (in thousands):
 
Fiscal Years Ended
 
June 30,
2012
 
June 30,
2011
Revenue:
 
 
 
Robotics
$
54,815

 
$
45,129

Services and Support
11,404

 
12,376

Total revenue
$
66,219

 
$
57,505

Operating income (loss):
 
 
 
Robotics
$
9,461

 
$
4,195

Services and support
2,837

 
2,511

Segment profit
12,298

 
6,706

Unallocated research, development and engineering and selling, general and administrative expenses
(13,713
)
 
(12,203
)
Restructuring charges, net
(1,256
)
 
(662
)
Amortization of other intangible assets
(466
)
 
(349
)
Interest expense, net
(250
)
 
(124
)
Currency exchange loss
(732
)
 
(188
)
Loss before income taxes
$
(4,119
)
 
$
(6,820
)

Management also assesses the Company’s performance, operations and assets by geographic areas, and, therefore, revenue and long-lived assets related to continuing operations are summarized in the following table (in thousands):

 
Fiscal Years Ended June 30,
 
2012
 
% of
total
 
2011
 
% of
total
Revenue:
 
 
 
 
 
 
 
United States
$
18,259

 
28
%
 
$
16,728

 
29
%
Europe
32,212

 
49
%
 
29,185

 
51
%
Asia
12,815

 
19
%
 
10,581

 
18
%
Other countries
2,933

 
4
%
 
1,011

 
2
%
Total International
47,960

 
72
%
 
40,777

 
71
%
Total
$
66,219

 
100
%
 
$
57,505

 
100
%


Assets
The following table summarizes the Company’s long-lived asset balances as follows (in thousands):
 
 
June 30,
2012
 
June 30,
2011
Long-lived assets:
 
 
 
United States
$
1,997

 
$
1,492

All other countries
416

 
396

Total long-lived assets
$
2,413

 
$
1,888

Goodwill
At June 30, 2012, Adept had $3.0 million in goodwill due to the acquisition of MobileRobots in the fourth quarter of fiscal 2010, and the acquisition of InMoTx in the third quarter of fiscal 2011. All of the goodwill is carried in the Robotics segment, and none is allocated to the Service and Support segment.