10-Q Filing

UBIQUITI INC. CIK: 1511737 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001511737-14-000030`
Period End Date	20140930
Filing Date	20141106
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	ubnt-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 30 Cash Flow Statement 62

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.40M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.50M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$279.73M	USD	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`	$347.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$391.02M	USD	Point-in-time
Preferred stock, number of shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,500 and $1,395, respectively	`AccountsReceivableNetCurrent`	$65.88M	USD	Point-in-time
Preferred stock, number of shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,500 and $1,395, respectively	`AccountsReceivableNetCurrent`	$54.87M	USD	Point-in-time
Preferred stock, number of shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (USD per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$38.75M	USD	Point-in-time
Inventories	`InventoryNet`	$46.35M	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
Common stock, number of shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Current deferred tax asset	`CurrentDeferredTaxAssetsRevenue`	$884.00K	USD	Point-in-time
Current deferred tax asset	`CurrentDeferredTaxAssetsRevenue`	$884.00K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	-	USD	Point-in-time
Common stock, number of shares outstanding	`CommonStockSharesOutstanding`	88.18M	shares	Point-in-time
Common stock, number of shares outstanding	`CommonStockSharesOutstanding`	88.34M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$3.26M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.27M	USD	Point-in-time
Treasury stock, number of shares	`TreasuryStockShares`	44.24M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$21.74M	USD	Point-in-time
Treasury stock, number of shares	`TreasuryStockShares`	44.24M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$518.27M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$465.72M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.26M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.99M	USD	Point-in-time
Long-term deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$1.25M	USD	Point-in-time
Long-term deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$1.25M	USD	Point-in-time
Other longterm assets	`OtherAssetsNoncurrent`	$1.91M	USD	Point-in-time
Other longterm assets	`OtherAssetsNoncurrent`	$1.80M	USD	Point-in-time
Total assets	`Assets`	$531.32M	USD	Point-in-time
Total assets	`Assets`	$476.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$33.93M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.83M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$412.00K	USD	Point-in-time
Deferred revenues - short-term	`DeferredRevenueCurrent`	$4.22M	USD	Point-in-time
Deferred revenues - short-term	`DeferredRevenueCurrent`	$5.51M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$3.41M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$2.50M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	$15.00M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$18.61M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$9.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$82.03M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$15.35M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$16.23M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$72.25M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$72.25M	USD	Point-in-time
Deferred revenues - long-term	`DeferredRevenueNoncurrent`	$992.00K	USD	Point-in-time
Deferred revenues - long-term	`DeferredRevenueNoncurrent`	$972.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$171.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$140.89M	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: 88,343,830 and 88,179,448 outstanding at September 30, 2014 and June 30, 2014, respectively	`CommonStockValue`	$88.00K	USD	Point-in-time
Common stock$0.001 par value; 500,000,000 shares authorized: 88,343,830 and 88,179,448 outstanding at September 30, 2014 and June 30, 2014, respectively	`CommonStockValue`	$88.00K	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	$147.68M	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	$145.87M	USD	Point-in-time
Treasury stock44,238,960 shares held in treasury at September 30, 2014 and June 30, 2014	`TreasuryStockValue`	$123.86M	USD	Point-in-time
Treasury stock44,238,960 shares held in treasury at September 30, 2014 and June 30, 2014	`TreasuryStockValue`	$123.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$335.91M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$313.17M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$335.26M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$359.82M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$531.32M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$476.15M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$129.69M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$150.09M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$89.04M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$71.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$58.02M	USD	1 Quarter
Gross profit	`GrossProfit`	$61.05M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$11.72M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$6.32M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.81M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.70M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.13M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$17.42M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$43.63M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$45.90M	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-246.00K	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-58.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$43.58M	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`	$5.83M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$40.53M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$37.74M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.46	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.43	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.42	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.45	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	88.24M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	87.41M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	89.91M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	89.47M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$40.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.74M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$705.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$880.00K	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$550.00K	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$695.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$106.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Provision for loss on vendor deposit	`ProvisionforLossonVendorDeposit`	$5.50M	USD	1 Quarter
Provision for loss on vendor deposit	`ProvisionforLossonVendorDeposit`	-	USD	1 Quarter
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$782.00K	USD	1 Quarter
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.51M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.17M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.37M	USD	1 Quarter
Write-off of intangible assets	`ImpairmentOfIntangibleAssetsFinitelived`	$74.00K	USD	1 Quarter
Write-off of intangible assets	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-86.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.11M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.04M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-6.91M	USD	1 Quarter
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	-	USD	1 Quarter
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$509.00K	USD	1 Quarter
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-3.26M	USD	1 Quarter
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	-	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$13.41M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-897.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.11M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.02M	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.57M	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.05M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$106.00K	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$1.31M	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$165.00K	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$7.39M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$46.94M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$51.88M	USD	1 Quarter
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.46M	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`	$-3.46M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-460.00K	USD	1 Quarter
Repayments on term loan balance	`PaymentsForLoans`	$1.25M	USD	1 Quarter
Repayments on term loan balance	`PaymentsForLoans`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$456.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$631.00K	USD	1 Quarter
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$782.00K	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`	$800.00K	USD	1 Quarter
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$410.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$438.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$483.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$51.90M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$43.92M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$279.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$227.83M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$347.10M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$391.02M	USD	Point-in-time
Cash and cash equivalents at end 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`	$347.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$391.02M	USD	Point-in-time
Unpaid cash dividend	`UnpaidCashDividends`	$15.00M	USD	1 Quarter
Unpaid cash dividend	`UnpaidCashDividends`	-	USD	1 Quarter

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