10-Q Filing

EMULEX CORP /DE/ CIK: 350917 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0000950123-10-101659`
Period End Date	20100930
Filing Date	20101105
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	elx-20100926.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 40 Cash Flow Statement 68

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$248.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$271.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$146.38M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$294.14M	USD	Point-in-time
Investments	`HeldToMaturitySecuritiesCurrent`	$27.13M	USD	Point-in-time
Investments	`HeldToMaturitySecuritiesCurrent`	$45.99M	USD	Point-in-time
Accounts and other receivables, net of allowance for doubtful accounts of $1,681 and $1,653 at September 26, 2010 and June 27, 2010, respectively	`ReceivablesNetCurrent`	$58.48M	USD	Point-in-time
Accounts and other receivables, net of allowance for doubtful accounts of $1,681 and $1,653 at September 26, 2010 and June 27, 2010, respectively	`ReceivablesNetCurrent`	$69.49M	USD	Point-in-time
Inventories	`InventoryNet`	$13.46M	USD	Point-in-time
Inventories	`InventoryNet`	$14.37M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$17.56M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$17.56M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.68M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$12.80M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.65M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$12.59M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$17.22M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$19.44M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$304.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$416.55M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$66.30M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$63.48M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Investments	`HeldToMaturitySecuritiesNoncurrent`	$1.62M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Investments	`HeldToMaturitySecuritiesNoncurrent`	-	USD	Point-in-time
Goodwill	`Goodwill`	$94.83M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Goodwill	`Goodwill`	$173.90M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$186.17M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$44.50M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	240.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	240.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$27.66M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$4.74M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	91.22M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$19.12M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	99.19M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$42.43M	USD	Point-in-time
Treasury stock at cost, shares	`TreasuryStockShares`	10.55M	shares	Point-in-time
Total assets	`Assets`	$756.59M	USD	Point-in-time
Total assets	`Assets`	$689.45M	USD	Point-in-time
Treasury stock at cost, shares	`TreasuryStockShares`	14.66M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.69M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$31.38M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$29.05M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$44.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$81.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$60.43M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$4.29M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$4.08M	USD	Point-in-time
Accrued taxes	`AccruedIncomeTaxesNoncurrent`	$33.55M	USD	Point-in-time
Accrued taxes	`AccruedIncomeTaxesNoncurrent`	$34.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$98.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$120.05M	USD	Point-in-time
Preferred stock, $0.01 par value; 1,000,000 shares authorized (150,000 shares designated as Series A Junior Participating Preferred Stock); none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value; 1,000,000 shares authorized (150,000 shares designated as Series A Junior Participating Preferred Stock); none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.10 par value; 240,000,000 shares authorized; 99,190,068 and 91,217,793 issued at September 26, 2010 and June 27, 2010, respectively	`CommonStockValue`	$9.92M	USD	Point-in-time
Common stock, $0.10 par value; 240,000,000 shares authorized; 99,190,068 and 91,217,793 issued at September 26, 2010 and June 27, 2010, respectively	`CommonStockValue`	$9.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.12B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.22B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-372.45M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-380.56M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-393.00K	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-615.00K	USD	Point-in-time
Treasury stock, at cost; 14,656,242 and 10,550,971 shares at September 26, 2010 and June 27, 2010, respectively	`TreasuryStockValue`	$208.32M	USD	Point-in-time
Treasury stock, at cost; 14,656,242 and 10,550,971 shares at September 26, 2010 and June 27, 2010, respectively	`TreasuryStockValue`	$168.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$591.18M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$636.54M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$689.45M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$756.59M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$103.10M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$85.53M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$33.42M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$45.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$57.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$52.11M	USD	1 Quarter
Engineering and development	`ResearchAndDevelopmentExpense`	$31.40M	USD	1 Quarter
Engineering and development	`ResearchAndDevelopmentExpense`	$38.26M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$12.71M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$12.91M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$17.62M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.28M	USD	1 Quarter
Amortization of other intangible assets	`FiniteLivedIntangibleAssetsAmortizationExpense`	$2.02M	USD	1 Quarter
Amortization of other intangible assets	`FiniteLivedIntangibleAssetsAmortizationExpense`	$1.70M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$58.29M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$70.61M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-6.18M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-13.21M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$119.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$21.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$375.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$230.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-153.00K	USD	1 Quarter
Total nonoperating income, net	`NonoperatingIncomeExpense`	$347.00K	USD	1 Quarter
Total nonoperating income, net	`NonoperatingIncomeExpense`	$-507.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-13.72M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.83M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-5.61M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-9.67M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-8.11M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$3.84M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.10	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.10	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	82.32M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	79.80M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	80.58M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	82.32M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-8.11M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$3.84M	USD	1 Quarter
Depreciation and amortization of property and equipment	`DepreciationAndAmortization`	$5.44M	USD	1 Quarter
Depreciation and amortization of property and equipment	`DepreciationAndAmortization`	$5.22M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$15.30M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$4.94M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$8.21M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$6.42M	USD	1 Quarter
Provision for losses on accounts and other receivables	`ProvisionForDoubtfulAccounts`	$28.00K	USD	1 Quarter
Provision for losses on accounts and other receivables	`ProvisionForDoubtfulAccounts`	$-86.00K	USD	1 Quarter
Accrued interest income, net	`AccruedInterestIncomeNet`	-	USD	1 Quarter
Accrued interest income, net	`AccruedInterestIncomeNet`	$-34.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-263.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.13M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-5.70M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.62M	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$15.00K	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$38.00K	USD	1 Quarter
Foreign currency adjustments	`ForeignCurrencyTransactionGainLossUnrealized`	$246.00K	USD	1 Quarter
Foreign currency adjustments	`ForeignCurrencyTransactionGainLossUnrealized`	$-260.00K	USD	1 Quarter
Accounts and other receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-12.00K	USD	1 Quarter
Accounts and other receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$5.45M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$599.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-14.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.35M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.26M	USD	1 Quarter
Accounts payable, accrued liabilities, and other liabilities	`IncreaseDecreaseAccountsPayableAccruedLiabilitiesAndOtherLiabilities`	$3.03M	USD	1 Quarter
Accounts payable, accrued liabilities, and other liabilities	`IncreaseDecreaseAccountsPayableAccruedLiabilitiesAndOtherLiabilities`	$1.58M	USD	1 Quarter
Accrued taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$556.00K	USD	1 Quarter
Accrued taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-301.00K	USD	1 Quarter
Income taxes payable and prepaid income taxes	`IncreaseDecreaseInIncomeTaxesPayableAndPrepaidIncomeTaxes`	$162.00K	USD	1 Quarter
Income taxes payable and prepaid income taxes	`IncreaseDecreaseInIncomeTaxesPayableAndPrepaidIncomeTaxes`	$6.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.86M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.48M	USD	1 Quarter
Net proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$99.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.81M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.46M	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$20.00M	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$4.00M	USD	1 Quarter
Payments for the purchase of ServerEngines Corporation, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$53.07M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$31.80M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$49.04M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$8.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.71M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-44.19M	USD	1 Quarter
Proceeds from issuance of common stock under stock plans	`ProceedsFromIssuanceOfCommonStock`	$44.00K	USD	1 Quarter
Proceeds from issuance of common stock under stock plans	`ProceedsFromIssuanceOfCommonStock`	$273.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$18.24M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$40.08M	USD	1 Quarter
Tax withholding payments reimbursed by common stock	`TaxWithholdingPaymentsReimbursedByCommonStock`	$2.24M	USD	1 Quarter
Tax withholding payments reimbursed by common stock	`TaxWithholdingPaymentsReimbursedByCommonStock`	$1.87M	USD	1 Quarter
Repayment of debt to the founders of ServerEngines Corporation	`RepaymentOfNotesReceivableFromRelatedParties`	$-26.90M	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$15.00K	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$38.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-68.91M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-20.05M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-87.00K	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$185.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-22.98M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-102.43M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$294.14M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$248.81M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$271.15M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$146.38M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$271.15M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$146.38M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$248.81M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$294.14M	USD	Point-in-time

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