10-Q Filing

UBIQUITI INC. CIK: 1511737 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001511737-13-000021`
Period End Date	20130930
Filing Date	20131108
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	ubnt-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 30 Cash Flow Statement 58

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.16M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.20M	USD	Point-in-time
Preferred stock, par value (USD per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (USD per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, number of shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, number of shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$227.83M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$132.49M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$122.06M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$279.73M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $2,156 and $2,200, respectively	`AccountsReceivableNetCurrent`	$35.80M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $2,156 and $2,200, respectively	`AccountsReceivableNetCurrent`	$35.88M	USD	Point-in-time
Preferred stock, number of shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, number of shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$16.38M	USD	Point-in-time
Inventories	`InventoryNet`	$15.88M	USD	Point-in-time
Common stock, par value (USD per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (USD per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, number of shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Current deferred tax asset	`CurrentDeferredTaxAssetsRevenue`	$733.00K	USD	Point-in-time
Common stock, number of shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Current deferred tax asset	`CurrentDeferredTaxAssetsRevenue`	$733.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.15M	USD	Point-in-time
Common stock, number of shares outstanding	`CommonStockSharesOutstanding`	87.21M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.27M	USD	Point-in-time
Common stock, number of shares outstanding	`CommonStockSharesOutstanding`	87.62M	shares	Point-in-time
Treasury stock, number of shares	`TreasuryStockShares`	44.24M	shares	Point-in-time
Treasury stock, number of shares	`TreasuryStockShares`	44.24M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$334.91M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$283.47M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.83M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.98M	USD	Point-in-time
Long-term deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$4.00K	USD	Point-in-time
Long-term deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$4.00K	USD	Point-in-time
Other longterm assets	`OtherAssetsNoncurrent`	$2.89M	USD	Point-in-time
Other longterm assets	`OtherAssetsNoncurrent`	$2.70M	USD	Point-in-time
Total assets	`Assets`	$292.34M	USD	Point-in-time
Total assets	`Assets`	$343.45M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$44.31M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.19M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$3.58M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$5.12M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$691.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$793.00K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$1.26M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$1.26M	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	$5.01M	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	$5.01M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$11.15M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$12.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$67.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$59.42M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$11.86M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$12.38M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$69.87M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$71.12M	USD	Point-in-time
Deferred revenues - long-term	`DeferredRevenueNoncurrent`	$2.51M	USD	Point-in-time
Deferred revenues - long-term	`DeferredRevenueNoncurrent`	$2.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$144.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$152.58M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`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; 500,000,000 shares authorized: 87,617,961 and 87,213,803 outstanding at September 30, 2013 and June 30, 2013, respectively	`CommonStockValue`	$87.00K	USD	Point-in-time
Common stock$0.001 par value; 500,000,000 shares authorized: 87,617,961 and 87,213,803 outstanding at September 30, 2013 and June 30, 2013, respectively	`CommonStockValue`	$88.00K	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	$137.88M	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	$134.98M	USD	Point-in-time
Treasury stock44,238,960 shares held in treasury at September 30, 2013 and June 30, 2013	`TreasuryStockValue`	$123.86M	USD	Point-in-time
Treasury stock44,238,960 shares held in treasury at September 30, 2013 and June 30, 2013	`TreasuryStockValue`	$123.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$176.76M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$136.23M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$147.44M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$190.86M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$292.34M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$343.45M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$129.69M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$61.53M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$36.52M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$71.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$58.02M	USD	1 Quarter
Gross profit	`GrossProfit`	$25.02M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$6.32M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.71M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.53M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.81M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.13M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.24M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$15.78M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$45.90M	USD	1 Quarter
Interest expense and other, net	`InvestmentIncomeInterest`	$-246.00K	USD	1 Quarter
Interest expense and other, net	`InvestmentIncomeInterest`	$-86.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$15.69M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$45.65M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.12M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.51M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$40.53M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$13.18M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.46	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.45	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	90.97M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	87.41M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	92.92M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	89.47M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income and comprehensive income	`NetIncomeLoss`	$40.53M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$13.18M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$349.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$705.00K	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$550.00K	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$25.00K	USD	1 Quarter
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.51M	USD	1 Quarter
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$656.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.17M	USD	1 Quarter
Write-off of intangible assets	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	1 Quarter
Write-off of intangible assets	`ImpairmentOfIntangibleAssetsFinitelived`	$74.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$500.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-14.27M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-86.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.04M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-77.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-897.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.26M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.11M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-336.00K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.34M	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.05M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-7.00K	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$106.00K	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$165.00K	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-6.09M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$51.88M	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`	$2.35M	USD	1 Quarter
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$460.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-460.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.35M	USD	1 Quarter
Proceeds from term loan, net	`ProceedsFromDebtNetOfIssuanceCosts`	-	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
Repayments on term loan balance	`PaymentsForLoans`	$1.25M	USD	1 Quarter
Repurchases of common stock	`RepurchaseOfCommonStock`	$31.26M	USD	1 Quarter
Repurchases of common stock	`RepurchaseOfCommonStock`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$102.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$631.00K	USD	1 Quarter
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.51M	USD	1 Quarter
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$410.00K	USD	1 Quarter
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$14.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.92M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$483.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.43M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$51.90M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$227.83M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$132.49M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$122.06M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$279.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$227.83M	USD	Point-in-time
Cash and cash equivalents at end 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`	$279.73M	USD	Point-in-time

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