10-Q Filing

UBIQUITI INC. CIK: 1511737 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-11-310527`
Period End Date	20110930
Filing Date	20111114
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	ubnt-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 40 Cash Flow Statement 48 Stockholders Equity 12

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$670.00K	USD	Point-in-time
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$596.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$76.36M	USD	Point-in-time
Redeemable convertible preferred stock, par value	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Redeemable convertible preferred stock, par value	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$52.58M	USD	Point-in-time
Redeemable convertible preferred stock, shares authorized	`TemporaryEquitySharesAuthorized`	36.03M	shares	Point-in-time
Redeemable convertible preferred stock, shares authorized	`TemporaryEquitySharesAuthorized`	36.03M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $670 and $596, respectively	`AccountsReceivableNetCurrent`	$39.81M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $670 and $596, respectively	`AccountsReceivableNetCurrent`	$48.08M	USD	Point-in-time
Redeemable convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	36.03M	shares	Point-in-time
Redeemable convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	23.99M	shares	Point-in-time
Inventories	`InventoryNet`	$8.37M	USD	Point-in-time
Inventories	`InventoryNet`	$5.66M	USD	Point-in-time
Redeemable convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	23.99M	shares	Point-in-time
Deferred cost of revenues	`DeferredCostsCurrent`	$881.00K	USD	Point-in-time
Deferred cost of revenues	`DeferredCostsCurrent`	$907.00K	USD	Point-in-time
Redeemable convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	36.03M	shares	Point-in-time
Redeemable convertible preferred stock, maximum liquidation preference	`TemporaryEquityLiquidationPreference`	$145.85M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.39M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.26M	USD	Point-in-time
Redeemable convertible preferred stock, maximum liquidation preference	`TemporaryEquityLiquidationPreference`	$141.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$115.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$128.10M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.11M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.02M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Long-term deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$324.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	62.75M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	62.69M	shares	Point-in-time
Long-term deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$324.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	39.08M	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.23M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.68M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	39.08M	shares	Point-in-time
Total assets	`Assets`	$131.68M	USD	Point-in-time
Total assets	`Assets`	$119.31M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.76M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.70M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$3.05M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.68M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$2.25M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$1.73M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$4.43M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$7.33M	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	$6.98M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$15.21M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$11.22M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.80M	USD	Point-in-time
Income and deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.87M	USD	Point-in-time
Income and deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.87M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$61.90M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$32.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$32.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$113.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$39.70M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Redeemable convertible preferred stock-$0.001 par value; 36,034,630 shares authorized: 23,992,929 and 36,034,630 shares issued and outstanding at September 30, 2011 June 30, 2011, respectively; maximum liquidation preference of $141,040 and $145,847 as of September 30, 2011 and June 30, 2011, respectively	`TemporaryEquityCarryingAmount`	$145.85M	USD	Point-in-time
Redeemable convertible preferred stock-$0.001 par value; 36,034,630 shares authorized: 23,992,929 and 36,034,630 shares issued and outstanding at September 30, 2011 June 30, 2011, respectively; maximum liquidation preference of $141,040 and $145,847 as of September 30, 2011 and June 30, 2011, respectively	`TemporaryEquityCarryingAmount`	$140.57M	USD	Point-in-time
Common stock-$0.001 par value; 150,000,000 shares authorized: 62,752,205, and 62,685,955 outstanding at September 30, 2011 and June 30, 2011, respectively	`CommonStockValue`	$63.00K	USD	Point-in-time
Common stock-$0.001 par value; 150,000,000 shares authorized: 62,752,205, and 62,685,955 outstanding at September 30, 2011 and June 30, 2011, respectively	`CommonStockValue`	$63.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$-65.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$545.00K	USD	Point-in-time
Treasury stock-39,079,910 shares held in treasury at September 30, 2011 and June 30, 2011	`TreasuryStockValue`	$69.52M	USD	Point-in-time
Treasury stock-39,079,910 shares held in treasury at September 30, 2011 and June 30, 2011	`TreasuryStockValue`	$69.52M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.04M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-53.87M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-134.61M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$119.31M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$131.68M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$79.17M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$34.08M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$46.15M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$20.45M	USD	1 Quarter
Gross profit	`GrossProfit`	$13.63M	USD	1 Quarter
Gross profit	`GrossProfit`	$33.01M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.37M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.50M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.67M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.14M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.51M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.16M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$9.47M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$27.50M	USD	1 Quarter
Interest income (expense) and other, net	`InvestmentIncomeInterest`	$7.00K	USD	1 Quarter
Interest income (expense) and other, net	`InvestmentIncomeInterest`	$-634.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.47M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$26.87M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.89M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.49M	USD	1 Quarter
Preferred stock cumulative dividend	`PreferredStockDividendsIncomeStatementImpact`	$791.00K	USD	1 Quarter
Preferred stock cumulative dividend	`PreferredStockDividendsIncomeStatementImpact`	$688.00K	USD	1 Quarter
Accretion of cost of preferred stock	`PreferredStockAccretionOfRedemptionDiscount`	$101.94M	USD	1 Quarter
Accretion of cost of preferred stock	`PreferredStockAccretionOfRedemptionDiscount`	$1.09M	USD	1 Quarter
Less allocation of net income to participating preferred stockholders	`LessAllocationOfNetIncomeToParticipatingPreferredStockholders`	$2.08M	USD	1 Quarter
Net income (loss) attributable to common stockholders-basic	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.72M	USD	1 Quarter
Net income (loss) attributable to common stockholders-basic	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-81.23M	USD	1 Quarter
Undistributed earnings re-allocated to common stockholders	`UndistributedEarnings`	$71.00K	USD	1 Quarter
Net income (loss) attributable to common stockholders-diluted	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$3.79M	USD	1 Quarter
Net income (loss) attributable to common stockholders-diluted	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-81.23M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-1.30	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-1.30	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	62.72M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	64.49M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	68.06M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	62.72M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$7.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.49M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$33.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$121.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$351.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$183.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$75.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-200.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.03M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.35M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.71M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-139.00K	USD	1 Quarter
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$-99.00K	USD	1 Quarter
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$26.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.75M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.67M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.94M	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.88M	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.91M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$514.00K	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-126.00K	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-195.00K	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.60M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.72M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$19.84M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$71.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$205.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-71.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-205.00K	USD	1 Quarter
Proceeds from term loan, net of issuance costs	`ProceedsFromDebtNetOfIssuanceCosts`	$34.88M	USD	1 Quarter
Repurchase of Series A convertible preferred stock	`PaymentsForRepurchaseOfConvertiblePreferredStock`	$40.00M	USD	1 Quarter
Payment of convertible subordinated promissory notes	`PaymentOfConvertibleSubordinatedPromissoryNotes`	$34.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$143.00K	USD	1 Quarter
Other repurchases of common stock and outstanding awards	`PaymentsForRepurchaseOfCommonStock`	$7.25M	USD	1 Quarter
Payment of deferred offering costs	`PaymentsOfStockIssuanceCosts`	$34.00K	USD	1 Quarter
Payment of deferred offering costs	`PaymentsOfStockIssuanceCosts`	$321.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-39.30M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.28M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$12.49M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-23.79M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$28.41M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$40.90M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$76.36M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$52.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$28.41M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$40.90M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$76.36M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$52.58M	USD	Point-in-time

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-53.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$-134.61M	USD	Point-in-time
Net income	`NetIncomeLoss`	$7.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.49M	USD	1 Quarter
Accretion of costs of Series A convertible preferred stock	`PreferredStockAccretionOfRedemptionDiscount`	$101.94M	USD	1 Quarter
Accretion of costs of Series A convertible preferred stock	`PreferredStockAccretionOfRedemptionDiscount`	$1.09M	USD	1 Quarter
Dividend on Series A convertible preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$791.00K	USD	1 Quarter
Dividend on Series A convertible preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$688.00K	USD	1 Quarter
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$143.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$351.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$-53.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$-134.61M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.