10-Q Filing

UBIQUITI INC. CIK: 1511737 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001511737-15-000009`
Period End Date	20141231
Filing Date	20150205
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	ubnt-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 64 Cash Flow Statement 67

Balance Sheet 76 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`	$1.07M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$305.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$227.83M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$388.60M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$347.10M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,072 and $1,395 at December 31, 2014 and June 30, 2014, respectively	`AccountsReceivableNetCurrent`	$72.57M	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
Accounts receivable, net of allowance for doubtful accounts of $1,072 and $1,395 at December 31, 2014 and June 30, 2014, respectively	`AccountsReceivableNetCurrent`	$54.87M	USD	Point-in-time
Inventories	`InventoryNet`	$37.51M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$46.35M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Current deferred tax asset	`CurrentDeferredTaxAssetsRevenue`	$884.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Current deferred tax asset	`CurrentDeferredTaxAssetsRevenue`	$884.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	87.85M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$3.26M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$4.51M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	88.18M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	44.77M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.27M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	44.24M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$32.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$536.59M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$465.72M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.26M	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`	$1.76M	USD	Point-in-time
Total assets	`Assets`	$476.15M	USD	Point-in-time
Total assets	`Assets`	$553.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$54.94M	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`	$712.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$4.22M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$2.95M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$2.50M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$972.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$9.83M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$10.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$70.29M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$17.47M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$15.35M	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`	$1.01M	USD	Point-in-time
Deferred revenues - long-term	`DeferredRevenueNoncurrent`	$972.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$161.02M	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: 87,846,511 and 88,179,448 outstanding at December 31, 2014 and June 30, 2014, respectively	`CommonStockValue`	$88.00K	USD	Point-in-time
Common stock$0.001 par value; 500,000,000 shares authorized: 87,846,511 and 88,179,448 outstanding at December 31, 2014 and June 30, 2014, respectively	`CommonStockValue`	$88.00K	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	$148.97M	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	$145.87M	USD	Point-in-time
Treasury stock44,768,739 and 44,238,960 shares held in treasury at December 31, 2014 and June 30, 2014, respectively	`TreasuryStockValue`	$138.86M	USD	Point-in-time
Treasury stock44,768,739 and 44,238,960 shares held in treasury at December 31, 2014 and June 30, 2014, respectively	`TreasuryStockValue`	$123.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$382.16M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$313.17M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$392.35M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$335.26M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$553.37M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$476.15M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$303.22M	USD	2 Qtrs
Revenues	`SalesRevenueNet`	$268.13M	USD	2 Qtrs
Revenues	`SalesRevenueNet`	$153.14M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$138.44M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$149.13M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$77.47M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$173.15M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$84.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$118.99M	USD	2 Qtrs
Gross profit	`GrossProfit`	$60.97M	USD	1 Quarter
Gross profit	`GrossProfit`	$69.02M	USD	1 Quarter
Gross profit	`GrossProfit`	$130.07M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$8.08M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$14.39M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$24.66M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$12.94M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$11.06M	USD	2 Qtrs
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$11.58M	USD	2 Qtrs
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.77M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.36M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$25.98M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$13.85M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$35.72M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$18.30M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$47.12M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$50.72M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$93.02M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$94.36M	USD	2 Qtrs
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-41.00K	USD	2 Qtrs
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$17.00K	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-495.00K	USD	2 Qtrs
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-249.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$46.87M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$94.32M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$92.52M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$50.74M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.08M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$10.20M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.47M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$10.31M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$41.79M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$46.27M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$84.01M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$82.32M	USD	2 Qtrs
Basic (in usd per share)	`EarningsPerShareBasic`	$0.95	USD	2 Qtrs
Basic (in usd per share)	`EarningsPerShareBasic`	$0.52	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.48	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.94	USD	2 Qtrs
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.52	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.47	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.92	USD	2 Qtrs
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.94	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	88.22M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	88.20M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	87.66M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	87.54M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	89.65M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	89.74M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	89.84M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	89.59M	shares	2 Qtrs
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.17	USD	2 Qtrs
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	-	USD	2 Qtrs

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$41.79M	USD	1 Quarter
Net income	`NetIncomeLoss`	$46.27M	USD	1 Quarter
Net income	`NetIncomeLoss`	$84.01M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$82.32M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.33M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.91M	USD	2 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$695.00K	USD	2 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$925.00K	USD	2 Qtrs
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-1.52M	USD	2 Qtrs
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-106.00K	USD	2 Qtrs
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$787.00K	USD	2 Qtrs
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$2.59M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.59M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.80M	USD	2 Qtrs
Write-off of intangible assets	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	2 Qtrs
Write-off of intangible assets	`ImpairmentOfIntangibleAssetsFinitelived`	$74.00K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-303.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$17.80M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$622.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$17.37M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-8.14M	USD	2 Qtrs
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$-976.00K	USD	2 Qtrs
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$246.00K	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$1.26M	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$2.80M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.32M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$20.19M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$21.07M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$13.33M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.33M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.38M	USD	2 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$714.00K	USD	2 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-1.23M	USD	2 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-206.00K	USD	2 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$608.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$79.62M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$79.50M	USD	2 Qtrs
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.39M	USD	2 Qtrs
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.96M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.39M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.96M	USD	2 Qtrs
Repayments on term loan balance	`PaymentsForLoans`	-	USD	2 Qtrs
Repayments on term loan balance	`PaymentsForLoans`	$2.50M	USD	2 Qtrs
Repurchases of common stock	`RepurchaseOfCommonStock`	$15.00M	USD	2 Qtrs
Repurchases of common stock	`RepurchaseOfCommonStock`	-	USD	2 Qtrs
Payment of common stock dividend	`PaymentsOfDividends`	-	USD	2 Qtrs
Payment of common stock dividend	`PaymentsOfDividends`	$15.02M	USD	2 Qtrs
Payment of common stock dividend	`PaymentsOfDividends`	$15.00M	USD	Point-in-time
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$497.00K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.00M	USD	2 Qtrs
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$2.59M	USD	2 Qtrs
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$787.00K	USD	2 Qtrs
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$908.00K	USD	2 Qtrs
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$985.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$185.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-29.72M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$77.73M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$41.51M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$305.55M	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`	$388.60M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$347.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$305.55M	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`	$388.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$347.10M	USD	Point-in-time

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