10-Q Filing

UBIQUITI INC. CIK: 1511737 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-463263`
Period End Date	20120930
Filing Date	20121109
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	ubnt-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 33 Cash Flow Statement 51

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.76M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.27M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$122.06M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$52.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$76.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$132.49M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,765 and $1,266, respectively	`AccountsReceivableNetCurrent`	$75.64M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,765 and $1,266, respectively	`AccountsReceivableNetCurrent`	$60.88M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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
Inventories	`InventoryNet`	$7.73M	USD	Point-in-time
Inventories	`InventoryNet`	$7.63M	USD	Point-in-time
Current deferred tax asset	`CurrentDeferredTaxAssetsRevenue`	$882.00K	USD	Point-in-time
Current deferred tax asset	`CurrentDeferredTaxAssetsRevenue`	$882.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.58M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.43M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	88.91M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	92.05M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	42.25M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	39.08M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$207.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$204.31M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.04M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.47M	USD	Point-in-time
Long-term deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$232.00K	USD	Point-in-time
Long-term deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$232.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.58M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.14M	USD	Point-in-time
Total assets	`Assets`	$213.74M	USD	Point-in-time
Total assets	`Assets`	$211.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$26.45M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$25.46M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$235.00K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$384.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$798.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$805.00K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$3.28M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$946.00K	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	$6.97M	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	$5.01M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$10.03M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$17.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$44.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.44M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$7.73M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$7.73M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$44.84M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$22.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$82.78M	USD	Point-in-time
Total liabilities	`Liabilities`	$97.54M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock-$0.001 par value; 50,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock-$0.001 par value; 50,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock-$0.001 par value; 150,000,000 shares authorized: 88,914,077 and 92,049,978 outstanding at September 30, 2012 and June 30, 2012, respectively	`CommonStockValue`	$92.00K	USD	Point-in-time
Common stock-$0.001 par value; 150,000,000 shares authorized: 88,914,077 and 92,049,978 outstanding at September 30, 2012 and June 30, 2012, respectively	`CommonStockValue`	$89.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$129.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$128.98M	USD	Point-in-time
Treasury stock-42,251,824 and 39,079,910 shares held in treasury at September 30, 2012 and June 30, 2012, respectively	`TreasuryStockValue`	$69.52M	USD	Point-in-time
Treasury stock-42,251,824 and 39,079,910 shares held in treasury at September 30, 2012 and June 30, 2012, respectively	`TreasuryStockValue`	$100.77M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$71.39M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$84.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$130.95M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$113.62M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$213.74M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$211.16M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$61.53M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$79.17M	USD	1 Quarter
Cost of revenues(1)	`CostOfRevenue`	$46.15M	USD	1 Quarter
Cost of revenues(1)	`CostOfRevenue`	$36.52M	USD	1 Quarter
Gross profit	`GrossProfit`	$33.01M	USD	1 Quarter
Gross profit	`GrossProfit`	$25.02M	USD	1 Quarter
Research and development(1)	`ResearchAndDevelopmentExpense`	$4.71M	USD	1 Quarter
Research and development(1)	`ResearchAndDevelopmentExpense`	$3.37M	USD	1 Quarter
Sales, general and administrative(1)	`SellingGeneralAndAdministrativeExpense`	$4.53M	USD	1 Quarter
Sales, general and administrative(1)	`SellingGeneralAndAdministrativeExpense`	$2.14M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.24M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.51M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$15.78M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$27.50M	USD	1 Quarter
Interest expense and other, net	`InvestmentIncomeInterest`	$86.00K	USD	1 Quarter
Interest expense and other, net	`InvestmentIncomeInterest`	$634.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$15.69M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$26.87M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.51M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.18M	USD	1 Quarter
Preferred stock cumulative dividend and accretion of cost of preferred stock	`PreferredStockCumulativeDividendAndAccretionOfCostOfPreferredStock`	$102.73M	USD	1 Quarter
Net income (loss) attributable to common stockholders-diluted	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$13.18M	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`	$0.14	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-1.30	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	90.97M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	62.72M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	92.92M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	62.72M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$21.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.18M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$121.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$349.00K	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$25.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$351.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$656.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$500.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$75.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.35M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-14.27M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-77.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.71M	USD	1 Quarter
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$26.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.26M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.94M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-336.00K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.34M	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.91M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-7.00K	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$514.00K	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.60M	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-6.09M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.72M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$23.70M	USD	1 Quarter
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$205.00K	USD	1 Quarter
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.35M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-205.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.35M	USD	1 Quarter
Proceeds from term loan, net	`ProceedsFromDebtNetOfIssuanceCosts`	$34.88M	USD	1 Quarter
Proceeds from term loan, net	`ProceedsFromDebtNetOfIssuanceCosts`	$20.83M	USD	1 Quarter
Repayments on term loan balance	`PaymentsForLoans`	$583.00K	USD	1 Quarter
Repurchases of common stock	`RepurchaseOfCommonStock`	$31.26M	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
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$102.00K	USD	1 Quarter
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$14.00K	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`	$-10.92M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.43M	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`	$122.06M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$52.58M	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`	$132.49M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$122.06M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$52.58M	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`	$132.49M	USD	Point-in-time

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