10-Q Filing

EMULEX CORP /DE/ CIK: 350917 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-438131`
Period End Date	20120930
Filing Date	20121029
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	elx-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 46 Cash Flow Statement 64 Comprehensive Income 6

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$174.32M	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`	$201.05M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.65M	USD	Point-in-time
Investments	`HeldToMaturitySecuritiesCurrent`	$12.11M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.77M	USD	Point-in-time
Investments	`HeldToMaturitySecuritiesCurrent`	$28.88M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,650 and $1,766 at September 30, 2012 and July 1, 2012, respectively	`AccountsReceivableNetCurrent`	$84.11M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,650 and $1,766 at September 30, 2012 and July 1, 2012, respectively	`AccountsReceivableNetCurrent`	$84.22M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$24.54M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00B	shares	Point-in-time
Inventories	`InventoryNet`	$20.32M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00B	shares	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
Prepaid income taxes	`PrepaidTaxes`	$5.87M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$10.78M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$7.38M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$11.42M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	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
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$9.68M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$10.72M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	240.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	240.00B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$363.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$322.14M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	106.77B	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$58.93M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	107.18B	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$60.12M	USD	Point-in-time
Goodwill	`Goodwill`	$177.29M	USD	Point-in-time
Goodwill	`Goodwill`	$177.29M	USD	Point-in-time
Treasury stock, at cost, shares	`TreasuryStockShares`	17.59B	shares	Point-in-time
Treasury stock, at cost, shares	`TreasuryStockShares`	17.59B	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$105.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$98.33M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$23.87M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.31M	USD	Point-in-time
Total assets	`Assets`	$712.96M	USD	Point-in-time
Total assets	`Assets`	$680.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$30.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$26.89M	USD	Point-in-time
Accrued and other current liabilities	`AccruedAndOtherCurrentLiabilities`	$35.40M	USD	Point-in-time
Accrued and other current liabilities	`AccruedAndOtherCurrentLiabilities`	$75.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$102.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$65.74M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.78M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.88M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$3.88M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.61M	USD	Point-in-time
Accrued taxes	`AccruedIncomeTaxesNoncurrent`	$30.06M	USD	Point-in-time
Accrued taxes	`AccruedIncomeTaxesNoncurrent`	$27.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$137.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$102.19M	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	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$10.68M	USD	Point-in-time
Common stock	`CommonStockValue`	$10.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.26B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.26B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-467.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-466.48M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.67M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.24M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$228.38M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$228.38M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$575.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$578.38M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$712.96M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$680.57M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$119.27M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$118.40M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$43.86M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$44.15M	USD	1 Quarter
Amortization of core and developed technology intangible assets	`AmortizationExpenseOfCoreAndDevelopedTechnologyIncludedInCostOfSales`	$5.15M	USD	1 Quarter
Amortization of core and developed technology intangible assets	`AmortizationExpenseOfCoreAndDevelopedTechnologyIncludedInCostOfSales`	$8.57M	USD	1 Quarter
Patent litigation damages, sunset period royalties and license fees	`PatentLitigationDamagesSunsetPeriodRoyaltiesAndLicenseFees`	$992.00K	USD	1 Quarter
Patent litigation damages, sunset period royalties and license fees	`PatentLitigationDamagesSunsetPeriodRoyaltiesAndLicenseFees`	$388.00K	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$52.83M	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$50.29M	USD	1 Quarter
Gross profit	`GrossProfit`	$65.57M	USD	1 Quarter
Gross profit	`GrossProfit`	$68.98M	USD	1 Quarter
Engineering and development	`ResearchAndDevelopmentExpense`	$43.27M	USD	1 Quarter
Engineering and development	`ResearchAndDevelopmentExpense`	$38.47M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$14.62M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$13.74M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.51M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.87M	USD	1 Quarter
Amortization of other intangible assets	`AmortizationOfOtherIntangibleAssets`	$1.76M	USD	1 Quarter
Amortization of other intangible assets	`AmortizationOfOtherIntangibleAssets`	$1.52M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$71.52M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$62.24M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$6.74M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-5.95M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$23.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$6.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$401.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-336.00K	USD	1 Quarter
Total non-operating (expense) income, net	`NonoperatingIncomeExpense`	$-342.00K	USD	1 Quarter
Total non-operating (expense) income, net	`NonoperatingIncomeExpense`	$422.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.53M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.40M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.63M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$5.74M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-7.16M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$657.00K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.08	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	86.86M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	89.35M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	86.86M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	91.38M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-7.16M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$657.00K	USD	1 Quarter
Depreciation and amortization of property and equipment	`DepreciationAndAmortization`	$4.38M	USD	1 Quarter
Depreciation and amortization of property and equipment	`DepreciationAndAmortization`	$4.82M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$5.55M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$6.44M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$10.34M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$6.67M	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$-116.00K	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$53.00K	USD	1 Quarter
Accrued interest income, net	`AccruedInterestIncomeNet`	$-42.00K	USD	1 Quarter
Accrued interest income, net	`AccruedInterestIncomeNet`	$41.00K	USD	1 Quarter
Loss (gain) on sales or disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-14.00K	USD	1 Quarter
Loss (gain) on sales or disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$30.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-226.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.64M	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$17.00K	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$27.00K	USD	1 Quarter
Foreign currency adjustments	`ForeignCurrencyTransactionGainLossUnrealized`	$309.00K	USD	1 Quarter
Foreign currency adjustments	`ForeignCurrencyTransactionGainLossUnrealized`	$-177.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$4.96M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-7.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$4.29M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.41M	USD	1 Quarter
Prepaid expenses, prepaid income taxes and other assets	`IncreaseDecreaseInPrepaidExpensesPrepaidIncomeTaxesAndOtherAssets`	$3.70M	USD	1 Quarter
Prepaid expenses, prepaid income taxes and other assets	`IncreaseDecreaseInPrepaidExpensesPrepaidIncomeTaxesAndOtherAssets`	$15.63M	USD	1 Quarter
Accounts payable, accrued liabilities, and other liabilities	`IncreaseDecreaseAccountsPayableAccruedLiabilitiesAndOtherLiabilities`	$-39.41M	USD	1 Quarter
Accounts payable, accrued liabilities, and other liabilities	`IncreaseDecreaseAccountsPayableAccruedLiabilitiesAndOtherLiabilities`	$1.03M	USD	1 Quarter
Accrued taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.54M	USD	1 Quarter
Accrued taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-39.73M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.59M	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`	$8.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.71M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.53M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$6.58M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$12.69M	USD	1 Quarter
Maturities of investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$23.39M	USD	1 Quarter
Maturities of investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$4.49M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$14.29M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.86M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$20.06M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Payroll tax withholdings on behalf of employees for restricted stock	`PayrollTaxWithholdingsPaidOnBehalfOfEmployeesForRestrictedStock`	$1.60M	USD	1 Quarter
Payroll tax withholdings on behalf of employees for restricted stock	`PayrollTaxWithholdingsPaidOnBehalfOfEmployeesForRestrictedStock`	$1.75M	USD	1 Quarter
Proceeds from issuance of common stock under stock plans	`ProceedsFromIssuanceOfCommonStock`	$85.00K	USD	1 Quarter
Proceeds from issuance of common stock under stock plans	`ProceedsFromIssuanceOfCommonStock`	$29.00K	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$17.00K	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$27.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.70M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.54M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$254.00K	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-360.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-20.34M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-26.73M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$201.05M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$174.32M	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 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`	$174.32M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$201.05M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-7.16M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$657.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-736.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$431.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$1.09M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-7.89M	USD	1 Quarter

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