10-Q Filing

QLOGIC CORP CIK: 918386 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-036821`
Period End Date	20111231
Filing Date	20120202
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	qlgc-20120101.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 65 Cash Flow Statement 64

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.53M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.54M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$74.20M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$190.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$106.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$147.78M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Marketable securities	`ShortTermInvestments`	$321.63M	USD	Point-in-time
Marketable securities	`ShortTermInvestments`	$236.30M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $1,530 and $1,536 as of January 1, 2012 and April 3, 2011, respectively	`AccountsReceivableNetCurrent`	$70.13M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $1,530 and $1,536 as of January 1, 2012 and April 3, 2011, respectively	`AccountsReceivableNetCurrent`	$82.22M	USD	Point-in-time
Inventories	`InventoryNet`	$26.93M	USD	Point-in-time
Inventories	`InventoryNet`	$26.97M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$17.75M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$19.95M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.39M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	208.04M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	209.46M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$20.75M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	103.33M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	110.50M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$519.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$538.36M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$77.13M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$78.72M	USD	Point-in-time
Goodwill	`Goodwill`	$119.75M	USD	Point-in-time
Goodwill	`Goodwill`	$119.75M	USD	Point-in-time
Purchased intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$10.18M	USD	Point-in-time
Purchased intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$12.69M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$25.33M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$27.28M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.65M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.08M	USD	Point-in-time
Total assets	`Assets`	$757.21M	USD	Point-in-time
Total assets	`Assets`	$776.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$34.82M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$35.10M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$28.24M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$25.86M	USD	Point-in-time
Accrued taxes	`TaxesPayableCurrent`	$3.03M	USD	Point-in-time
Accrued taxes	`TaxesPayableCurrent`	$6.01M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$10.43M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$10.35M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$6.36M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$5.22M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$82.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$83.07M	USD	Point-in-time
Accrued taxes	`AccruedIncomeTaxesNoncurrent`	$62.41M	USD	Point-in-time
Accrued taxes	`AccruedIncomeTaxesNoncurrent`	$62.56M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$5.17M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$3.84M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$5.97M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$5.92M	USD	Point-in-time
Total liabilities	`Liabilities`	$155.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$156.04M	USD	Point-in-time
Preferred stock, $0.001 par value; 1,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 1,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized; 209,459,000 and 208,042,000 shares issued as of January 1, 2012 and April 3, 2011, respectively	`CommonStockValue`	$208.00K	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized; 209,459,000 and 208,042,000 shares issued as of January 1, 2012 and April 3, 2011, respectively	`CommonStockValue`	$209.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$877.76M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$844.55M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.48B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.39B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$614.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$299.00K	USD	Point-in-time
Treasury stock, at cost: 110,498,000 and 103,325,000 shares as of January 1, 2012 and April 3, 2011, respectively	`TreasuryStockValue`	$1.74B	USD	Point-in-time
Treasury stock, at cost: 110,498,000 and 103,325,000 shares as of January 1, 2012 and April 3, 2011, respectively	`TreasuryStockValue`	$1.63B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$621.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$601.16M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$776.37M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$757.21M	USD	Point-in-time

Income Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$155.77M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$454.46M	USD	3 Qtrs
Net revenues	`SalesRevenueNet`	$152.66M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$444.91M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$154.01M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$153.11M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$52.05M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$53.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$300.45M	USD	3 Qtrs
Gross profit	`GrossProfit`	$100.61M	USD	1 Quarter
Gross profit	`GrossProfit`	$102.77M	USD	1 Quarter
Gross profit	`GrossProfit`	$291.80M	USD	3 Qtrs
Engineering and development	`ResearchAndDevelopmentExpense`	$112.45M	USD	3 Qtrs
Engineering and development	`ResearchAndDevelopmentExpense`	$100.65M	USD	3 Qtrs
Engineering and development	`ResearchAndDevelopmentExpense`	$36.88M	USD	1 Quarter
Engineering and development	`ResearchAndDevelopmentExpense`	$33.15M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$20.10M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$60.95M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$21.51M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$63.22M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$26.82M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$25.56M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$9.06M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.80M	USD	1 Quarter
Special charges	`BusinessExitCosts`	$931.00K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$67.20M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$62.31M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$188.09M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$202.49M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$97.97M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$103.70M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$33.41M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$40.46M	USD	1 Quarter
Interest and other income, net	`OtherNonoperatingIncomeExpense`	$2.93M	USD	3 Qtrs
Interest and other income, net	`OtherNonoperatingIncomeExpense`	$773.00K	USD	1 Quarter
Interest and other income, net	`OtherNonoperatingIncomeExpense`	$4.26M	USD	3 Qtrs
Interest and other income, net	`OtherNonoperatingIncomeExpense`	$798.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$41.23M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$107.96M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$34.20M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$100.89M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$2.19M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$-9.11M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$4.18M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$9.79M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$105.77M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$91.11M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$30.02M	USD	1 Quarter
Net income	`NetIncomeLoss`	$50.34M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.89	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.30	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.48	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.97	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.88	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.96	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.47	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.30	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	108.49M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	100.14M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	102.70M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	105.83M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	103.34M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	100.67M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.33M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	110.03M	shares	3 Qtrs

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$30.02M	USD	1 Quarter
Net income	`NetIncomeLoss`	$50.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$91.11M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$105.77M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$22.61M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$21.05M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$25.79M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$27.11M	USD	3 Qtrs
Amortization of acquisition-related intangible assets	`AmortizationOfAcquisitionRelatedIntangibleAssets`	$3.47M	USD	3 Qtrs
Amortization of acquisition-related intangible assets	`AmortizationOfAcquisitionRelatedIntangibleAssets`	$3.47M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.33M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$6.81M	USD	3 Qtrs
Net gains on investment securities	`GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments`	$729.00K	USD	3 Qtrs
Net gains on investment securities	`GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments`	$2.02M	USD	3 Qtrs
Other non-cash items	`OtherNoncashIncomeExpense`	$-1.44M	USD	3 Qtrs
Other non-cash items	`OtherNoncashIncomeExpense`	$-5.81M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.24M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.77M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$36.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$6.45M	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-119.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-841.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-6.23M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.33M	USD	3 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$405.00K	USD	3 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$2.38M	USD	3 Qtrs
Accrued taxes	`IncreaseDecreaseInAccruedTaxesPayable`	$4.53M	USD	3 Qtrs
Accrued taxes	`IncreaseDecreaseInAccruedTaxesPayable`	$-21.07M	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-685.00K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-1.41M	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$936.00K	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-3.97M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$134.10M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$117.26M	USD	3 Qtrs
Purchases of available-for-sale securities	`PaymentsToAcquireAvailableForSaleSecurities`	$221.88M	USD	3 Qtrs
Purchases of available-for-sale securities	`PaymentsToAcquireAvailableForSaleSecurities`	$336.00M	USD	3 Qtrs
Proceeds from sales and maturities of available-for-sale securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$146.84M	USD	3 Qtrs
Proceeds from sales and maturities of available-for-sale securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$247.93M	USD	3 Qtrs
Proceeds from disposition of trading securities	`ProceedsFromPaymentsForTradingSecurities`	$23.80M	USD	3 Qtrs
Distributions from other investment securities	`ProceedsFromSaleAndMaturityOfOtherInvestments`	$329.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.48M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.88M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-68.80M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-111.56M	USD	3 Qtrs
Proceeds from issuance of common stock under stock-based awards	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$12.67M	USD	3 Qtrs
Proceeds from issuance of common stock under stock-based awards	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$29.64M	USD	3 Qtrs
Excess tax benefits from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.61M	USD	3 Qtrs
Excess tax benefits from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$529.00K	USD	3 Qtrs
Minimum tax withholding paid on behalf of employees for restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$5.42M	USD	3 Qtrs
Minimum tax withholding paid on behalf of employees for restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$6.74M	USD	3 Qtrs
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$103.90M	USD	3 Qtrs
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$156.99M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-96.12M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-132.48M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-84.02M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-73.58M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$190.31M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$147.78M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$106.29M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$74.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$106.29M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$74.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$147.78M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$190.31M	USD	Point-in-time

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