Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v2.4.0.8
Segment Reporting
9 Months Ended
Sep. 30, 2014
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting
The Company evaluates performance based on the operating income (loss) of the respective business segments. The segment results may not represent actual results that would be expected if they were independent, stand-alone businesses. Segment information is as follows (in thousands):
Balance Sheet Data:
As of September 30, 2014
 
Ligand
 
CyDex
 
Total
Total assets
$
203,296

 
$
68,987

 
$
272,283

 
 
 
 
 
 
 
As of December 31, 2013
 
Ligand
 
CyDex
 
Total
Total assets
$
38,408

 
$
66,305

 
$
104,713

 
 
 
 
 
 
Operating Data:
For the three months ended September 30, 2014
 
Ligand
 
CyDex
 
Total
Net revenues from external customers
$
6,424

 
$
8,549

 
$
14,973

Depreciation and amortization expense
(61
)
 
(601
)
 
(662
)
Operating (loss) income
(1,683
)
 
5,215

 
3,532

Interest expense, net
(1,516
)
 

 
(1,516
)
Income tax expense from continuing operations
(115
)
 
(9
)
 
(124
)
 
 
 
 
 
 
 
For the three months ended September 30, 2013
 
Ligand
 
CyDex
 
Total
Net revenues from external customers
4,731

 
8,274

 
$
13,005

Depreciation and amortization expense
(62
)
 
(606
)
 
$
(668
)
Operating (loss) income
(1,142
)
 
4,212

 
$
3,070

Interest expense, net
(394
)
 

 
$
(394
)
Income tax (expense) benefit from continuing operations
(70
)
 
10

 
$
(60
)
Gain on sale of Avinza Product Line before income taxes

 

 
$

 
 
 
 
 
 
 
For the nine months ended September 30, 2014
 
Ligand
 
CyDex
 
Total
Net revenues from external customers
18,907

 
22,632

 
$
41,539

Depreciation and amortization expense
(194
)
 
(1,804
)
 
(1,998
)
Operating (loss) income
(2,622
)
 
12,611

 
9,989

Interest expense, net
(1,946
)
 

 
(1,946
)
Income tax expense from continuing operations
(123
)
 
(8
)
 
(131
)
 
 
 
 
 
 
 
For the nine months ended September 30, 2013
 
Ligand
 
CyDex
 
Total
Net revenues from external customers
$
14,789

 
$
19,448

 
$
34,237

Depreciation and amortization expense
(179
)
 
(1,828
)
 
(2,007
)
Write-off of in-process research and development

 
480

 
480

Operating income
(944
)
 
9,462

 
8,518

Interest expense, net
(1,755
)
 

 
(1,755
)
Income tax (expense) benefit from continuing operations
(301
)
 
64

 
(237
)
Gain on sale of Avinza Product Line before income taxes
2,588

 

 
2,588