XML 71 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash Flows from Operating Activities:    
Net income and comprehensive income $ 127,519 $ 51,649
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,038 1,262
Provision for inventory obsolescence 2,045 1,075
Deferred taxes 1,989 0
Excess tax benefit from employee stock-based awards (5,279) (414)
Stock-based compensation 3,630 2,249
Loss on disposal of fixed assets 45 150
Write-off of intangible assets 229 0
Provision for doubtful accounts (658) 1,596
Changes in operating assets and liabilities:    
Accounts receivable (12,988) 35,631
Inventories (52,169) (12,722)
Deferred cost of revenues (82) (541)
Prepaid income taxes (5,052) 0
Prepaid expenses and other assets (8,335) (1,461)
Accounts payable 10,136 5,030
Taxes payable 4,022 3,655
Deferred revenues 595 1,036
Accrued liabilities and other (2,151) (2,511)
Net cash provided by operating activities 65,534 85,684
Cash Flows from Investing Activities:    
Purchase of property and equipment and other long-term assets (3,244) (4,408)
Net cash used in investing activities (3,244) (4,408)
Cash Flows from Financing Activities:    
Proceeds from term loan 0 50,833
Repayments on term loan balance (3,750) (3,083)
Repurchases of common stock 0 (54,354)
Payment of special common stock dividend 0 (15,652)
Proceeds from exercise of stock options 1,783 306
Excess tax benefit from employee stock-based awards 5,279 414
Tax withholdings related to net share settlements of restricted stock units (1,758) (111)
Net cash provided by (used in) financing activities 1,554 (21,647)
Net increase in cash and cash equivalents 63,844 59,629
Cash and cash equivalents at beginning of period 227,826 [1] 122,060
Cash and cash equivalents at end of period $ 291,670 $ 181,689
[1] Derived from audited consolidated financial statements as of and for the year ended June 30, 2013.