10-Q Filing

EMULEX CORP /DE/ CIK: 350917 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-11-294715`
Period End Date	20110930
Filing Date	20111103
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	elx-20111002.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 44 Cash Flow Statement 67

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$146.38M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$131.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$110.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$248.81M	USD	Point-in-time
Investments	`HeldToMaturitySecuritiesCurrent`	$52.74M	USD	Point-in-time
Investments	`HeldToMaturitySecuritiesCurrent`	$37.02M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,796 and $1,743 at October 2, 2011 and July 3, 2011, respectively	`AccountsReceivableNetCurrent`	$79.06M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,796 and $1,743 at October 2, 2011 and July 3, 2011, respectively	`AccountsReceivableNetCurrent`	$74.15M	USD	Point-in-time
Inventories	`InventoryNet`	$17.04M	USD	Point-in-time
Inventories	`InventoryNet`	$20.51M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$11.36M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$12.71M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$9.68M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.74M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.80M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$11.18M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$11.88M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$16.92M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$294.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$302.15M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$64.09M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$62.92M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Investments	`HeldToMaturitySecuritiesNoncurrent`	$15.16M	USD	Point-in-time
Investments	`HeldToMaturitySecuritiesNoncurrent`	$7.61M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Goodwill	`Goodwill`	$177.29M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Goodwill	`Goodwill`	$177.29M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$135.60M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$125.27M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.22M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	240.00M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.54M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	240.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	102.66M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	103.06M	shares	Point-in-time
Total assets	`Assets`	$702.84M	USD	Point-in-time
Total assets	`Assets`	$675.38M	USD	Point-in-time
Treasury stock at cost, shares	`TreasuryStockShares`	17.59M	shares	Point-in-time
Treasury stock at cost, shares	`TreasuryStockShares`	14.66M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$30.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$29.04M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$41.97M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$42.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$72.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$71.24M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.34M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.33M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.96M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$11.36M	USD	Point-in-time
Accrued taxes	`AccruedIncomeTaxesNoncurrent`	$28.20M	USD	Point-in-time
Accrued taxes	`AccruedIncomeTaxesNoncurrent`	$28.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$113.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$114.15M	USD	Point-in-time
Subsequent event (Note 8)	`SubsequentEvents`	-	USD	Point-in-time
Subsequent event (Note 8)	`SubsequentEvents`	-	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;103,063,563 and 102,655,094 issued at October 2, 2011 and July 3, 2011, respectively	`CommonStockValue`	$10.27M	USD	Point-in-time
Common stock, $0.10 par value; 240,000,000 shares authorized;103,063,563 and 102,655,094 issued at October 2, 2011 and July 3, 2011, respectively	`CommonStockValue`	$10.31M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.24B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.24B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-463.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-456.06M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-238.00K	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-974.00K	USD	Point-in-time
Treasury stock, at cost; 17,592,322 and 14,656,242 shares at October 2, 2011 and July 3, 2011, respectively	`TreasuryStockValue`	$208.32M	USD	Point-in-time
Treasury stock, at cost; 17,592,322 and 14,656,242 shares at October 2, 2011 and July 3, 2011, respectively	`TreasuryStockValue`	$228.38M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$588.69M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$561.59M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$675.38M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$702.84M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$103.10M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$118.40M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$44.25M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$39.80M	USD	1 Quarter
Amortization of core and developed technology intangible assets	`AmortizationExpenseOfCoreAndDevelopedTechnologyIncludedInCostOfSales`	$6.40M	USD	1 Quarter
Amortization of core and developed technology intangible assets	`AmortizationExpenseOfCoreAndDevelopedTechnologyIncludedInCostOfSales`	$8.57M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$52.83M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$46.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$56.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$65.57M	USD	1 Quarter
Engineering and development	`ResearchAndDevelopmentExpense`	$43.27M	USD	1 Quarter
Engineering and development	`ResearchAndDevelopmentExpense`	$38.26M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$14.62M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$12.71M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.87M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$17.62M	USD	1 Quarter
Amortization of other intangible assets	`AmortizationOfOtherIntangibleAssets`	$2.34M	USD	1 Quarter
Amortization of other intangible assets	`AmortizationOfOtherIntangibleAssets`	$1.76M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$71.52M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$70.94M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-14.04M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-5.95M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$21.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$23.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$375.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-153.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$401.00K	USD	1 Quarter
Total non-operating (expense) income, net	`NonoperatingIncomeExpense`	$422.00K	USD	1 Quarter
Total non-operating (expense) income, net	`NonoperatingIncomeExpense`	$-507.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-14.55M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.53M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$1.63M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$-5.92M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.62M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.16M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.08	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.10	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.10	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	82.32M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	86.86M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	82.32M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	86.86M	shares	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.62M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.16M	USD	1 Quarter
Depreciation and amortization of property and equipment	`DepreciationAndAmortization`	$4.82M	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`	$6.44M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$8.74M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$10.34M	USD	1 Quarter
Provision for losses on accounts receivables	`ProvisionForDoubtfulAccounts`	$53.00K	USD	1 Quarter
Provision for losses on accounts receivables	`ProvisionForDoubtfulAccounts`	$28.00K	USD	1 Quarter
Accrued interest income, net	`AccruedInterestIncomeNet`	$-42.00K	USD	1 Quarter
(Gain) loss on sales or disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$30.00K	USD	1 Quarter
(Gain) loss on sales or disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-263.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.62M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.64M	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$38.00K	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$17.00K	USD	1 Quarter
Foreign currency adjustments	`ForeignCurrencyTransactionGainLossUnrealized`	$310.00K	USD	1 Quarter
Foreign currency adjustments	`ForeignCurrencyTransactionGainLossUnrealized`	$-244.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$4.96M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$3.80M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.41M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$599.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.92M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.37M	USD	1 Quarter
Accounts payable, accrued liabilities, and other liabilities	`IncreaseDecreaseAccountsPayableAccruedLiabilitiesAndOtherLiabilities`	$1.58M	USD	1 Quarter
Accounts payable, accrued liabilities, and other liabilities	`IncreaseDecreaseAccountsPayableAccruedLiabilitiesAndOtherLiabilities`	$1.03M	USD	1 Quarter
Accrued taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-301.00K	USD	1 Quarter
Income taxes payable and prepaid income taxes	`IncreaseDecreaseInIncomeTaxesPayableAndPrepaidIncomeTaxes`	$2.33M	USD	1 Quarter
Income taxes payable and prepaid income taxes	`IncreaseDecreaseInIncomeTaxesPayableAndPrepaidIncomeTaxes`	$6.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.59M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.48M	USD	1 Quarter
Net proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$49.00K	USD	1 Quarter
Net proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$99.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.71M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.46M	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
Purchases of investments	`PaymentsToAcquireInvestments`	$12.69M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$49.04M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$4.49M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.86M	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`	$273.00K	USD	1 Quarter
Proceeds from issuance of common stock under stock plans	`ProceedsFromIssuanceOfCommonStock`	$85.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$20.06M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$40.08M	USD	1 Quarter
Tax withholding payments reimbursed by common stock	`TaxWithholdingPaymentsReimbursedByCommonStock`	$1.75M	USD	1 Quarter
Tax withholding payments reimbursed by common stock	`TaxWithholdingPaymentsReimbursedByCommonStock`	$2.24M	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`	$17.00K	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`	$-21.70M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-360.00K	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`	$-102.43M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-20.34M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$146.38M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$131.16M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$110.82M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$248.81M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$131.16M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$110.82M	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

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