10-Q Filing

UBIQUITI INC. CIK: 1511737 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001511737-15-000018`
Period End Date	20150331
Filing Date	20150507
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	ubnt-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 64 Cash Flow Statement 67

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.07M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.40M	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, 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`	$451.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$347.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$291.67M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,071 and $1,395 at March 31, 2015 and June 30, 2014, respectively	`AccountsReceivableNetCurrent`	$69.91M	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 $1,071 and $1,395 at March 31, 2015 and June 30, 2014, respectively	`AccountsReceivableNetCurrent`	$54.87M	USD	Point-in-time
Inventories	`InventoryNet`	$41.72M	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`	$797.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	87.97M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	88.18M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$7.39M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$3.26M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$30.22M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	44.24M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.27M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$601.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$465.72M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$14.76M	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`	$1.10M	USD	Point-in-time
Other longterm assets	`OtherAssetsNoncurrent`	$2.23M	USD	Point-in-time
Other longterm assets	`OtherAssetsNoncurrent`	$1.91M	USD	Point-in-time
Total assets	`Assets`	$476.15M	USD	Point-in-time
Total assets	`Assets`	$619.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$33.93M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$48.66M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$787.00K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$2.50M	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	-	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	$10.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$15.88M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$14.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$74.38M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.31M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$15.35M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$18.53M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$72.25M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$90.00M	USD	Point-in-time
Deferred revenues - long-term	`DeferredRevenueNoncurrent`	$997.00K	USD	Point-in-time
Deferred revenues - long-term	`DeferredRevenueNoncurrent`	$972.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$140.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$183.91M	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: 87,968,963 and 88,179,448 outstanding at March 31, 2015 and June 30, 2014, respectively	`CommonStockValue`	$88.00K	USD	Point-in-time
Common stock$0.001 par value; 500,000,000 shares authorized: 87,968,963 and 88,179,448 outstanding at March 31, 2015 and June 30, 2014, respectively	`CommonStockValue`	$88.00K	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	$12.00M	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	$145.87M	USD	Point-in-time
Treasury stock0 and 44,238,960 shares held in treasury at March 31, 2015 and June 30, 2014, respectively	`TreasuryStockValue`	$123.86M	USD	Point-in-time
Treasury stock0 and 44,238,960 shares held in treasury at March 31, 2015 and June 30, 2014, respectively	`TreasuryStockValue`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$423.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$313.17M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$435.38M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$335.26M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$619.28M	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`	$416.46M	USD	3 Qtrs
Revenues	`SalesRevenueNet`	$147.46M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$148.33M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$450.68M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$82.72M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$231.85M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$254.63M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$81.48M	USD	1 Quarter
Gross profit	`GrossProfit`	$196.05M	USD	3 Qtrs
Gross profit	`GrossProfit`	$65.61M	USD	1 Quarter
Gross profit	`GrossProfit`	$65.98M	USD	1 Quarter
Gross profit	`GrossProfit`	$184.61M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$23.81M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$9.41M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$39.89M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$15.24M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$17.65M	USD	3 Qtrs
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$16.57M	USD	3 Qtrs
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.51M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.06M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$56.46M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$15.48M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$41.45M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$20.75M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$45.23M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$139.59M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$143.15M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$50.13M	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-778.00K	USD	3 Qtrs
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-283.00K	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-763.00K	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-804.00K	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$142.37M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$138.78M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$44.47M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$49.85M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.33M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.65M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$14.85M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$13.64M	USD	3 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$127.52M	USD	3 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$41.14M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$125.14M	USD	3 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$45.20M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.47	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$1.45	USD	3 Qtrs
Basic (in usd per share)	`EarningsPerShareBasic`	$1.42	USD	3 Qtrs
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.50	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.46	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.40	USD	3 Qtrs
Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.42	USD	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	87.66M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	87.90M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	87.90M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	88.11M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	89.40M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	89.71M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	89.67M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	89.78M	shares	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.17	USD	3 Qtrs
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	-	USD	3 Qtrs
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$127.52M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$41.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$125.14M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$45.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.18M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.04M	USD	3 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$2.04M	USD	3 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$1.58M	USD	3 Qtrs
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-1.99M	USD	3 Qtrs
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-242.00K	USD	3 Qtrs
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$5.28M	USD	3 Qtrs
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.58M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$4.18M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$3.63M	USD	3 Qtrs
Other adjustments	`OtherAdjustments`	$2.71M	USD	3 Qtrs
Other adjustments	`OtherAdjustments`	$-384.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.99M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$15.14M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$52.17M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-3.46M	USD	3 Qtrs
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$-1.28M	USD	3 Qtrs
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$82.00K	USD	3 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$4.14M	USD	3 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$5.05M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.34M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$20.74M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$14.81M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.14M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$4.02M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.05M	USD	3 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-1.72M	USD	3 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$595.00K	USD	3 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$28.00K	USD	3 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.15M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$116.34M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$65.53M	USD	3 Qtrs
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.82M	USD	3 Qtrs
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.24M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.24M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.82M	USD	3 Qtrs
Issuances of debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	3 Qtrs
Issuances of debt	`ProceedsFromIssuanceOfLongTermDebt`	$100.00M	USD	3 Qtrs
Repayments of debt	`RepaymentsOfLongTermDebt`	$3.75M	USD	3 Qtrs
Repayments of debt	`RepaymentsOfLongTermDebt`	$72.25M	USD	3 Qtrs
Repurchases of common stock	`RepurchaseOfCommonStock`	-	USD	3 Qtrs
Repurchases of common stock	`RepurchaseOfCommonStock`	$15.00M	USD	3 Qtrs
Payment of common stock dividend	`PaymentsOfDividends`	$15.00M	USD	Point-in-time
Payment of common stock dividend	`PaymentsOfDividends`	-	USD	3 Qtrs
Payment of common stock dividend	`PaymentsOfDividends`	$15.02M	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.78M	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$850.00K	USD	3 Qtrs
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$5.28M	USD	3 Qtrs
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.58M	USD	3 Qtrs
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$1.76M	USD	3 Qtrs
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$1.62M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.55M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.47M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$63.84M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$104.06M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$227.83M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$451.16M	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`	$291.67M	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`	$451.16M	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`	$291.67M	USD	Point-in-time

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