STOCK BASED COMPENSATION (Tables)
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12 Months Ended |
Jun. 30, 2015 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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Stock-based compensation expense |
The following table shows total stock-based compensation expense included in the Consolidated Statements of Operations and Comprehensive Income for fiscal 2015, 2014 and 2013 (in thousands): | | | | | | | | | | | | | | Years Ended Years Ended June 30, | | 2015 |
| 2014 | | 2013 | Cost of sales | $ | 601 |
| | $ | 590 |
| | $ | 446 |
| Research and development | 2,854 |
| | 2,423 |
| | 1,433 |
| Sales, general and administrative | 1,537 |
| | 1,893 |
| | 1,497 |
| | $ | 4,992 |
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| $ | 4,906 |
| | $ | 3,376 |
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Option activity for Company's stock incentive plans |
The following is a summary of option activity for the Company’s stock incentive plans for fiscal 2015, 2014 and 2013: | | | | | | | | | | | | | | | Common Stock Options Outstanding | | Number of Shares | | Weighted Average Exercise Price | | Weighted Average Remaining Contractual Life (Years) | | Aggregate Intrinsic Value | | | | | | | | (In thousands) | Balance, June 30, 2012 | 3,347,445 |
| | $ | 1.45 |
| | 6.62 | | $ | 42,920 |
| Granted | 683,500 |
| | 11.29 |
| | | | | Exercised | (266,558 | ) | | 2.39 |
| | | | | Forfeitures and cancellations | (150,125 | ) | | 5.68 |
| | | | | Balance, June 30, 2013 | 3,614,262 |
| | $ | 3.07 |
| | 6.17 | | $ | 52,330 |
| Exercised | (849,635 | ) | | 2.46 |
| | | | | Forfeitures and cancellations | (107,485 | ) | | 10.55 |
| | | | | Balance, June 30, 2014 | 2,657,142 |
| | $ | 2.96 |
| | 5.11 | | $ | 112,215 |
| Exercised | (299,034 | ) | | $ | 5.64 |
| | | | | Forfeitures and cancellations | (56,964 | ) | | $ | 12.14 |
| | | | | Balance, June 30, 2015 | 2,301,144 |
| | $ | 2.38 |
| | 3.82 | | $ | 67,969 |
| Vested and expected to vest as of June 30, 2015 | 2,295,811 |
| | $ | 2.36 |
| | 3.81 | | $ | 67,860 |
| Vested and exercisable as of June 30, 2015 | 2,167,482 |
| | $ | 1.83 |
| | 3.60 | | $ | 65,224 |
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Stock options outstanding by exercise price range |
Additional information regarding options outstanding as of June 30, 2015 is as follows (in thousands, except weighted average exercise price amounts and contractual life): | | | | | | | | | | | | | | | | | | | | Options Outstanding | | | | Options Exercisable | Range of Exercise Prices | | Number of Options | | Weighted Average Remaining Contractual Life (Years) | | Weighted Average Exercise Price | | Number of Options | | Weighted Average Exercise Price | $0.01 - $1.91 | | 1,654,160 |
| | 2.76 | | $ | 0.05 |
| | 1,654,160 |
| | $ | 0.05 |
| $1.92 - $10.76 | | 292,352 |
| | 5.53 | | 4.49 |
| | 291,828 |
| | 4.49 |
| $10.77 - $11.74 | | 260,250 |
| | 7.37 | | 10.77 |
| | 161,496 |
| | 10.77 |
| $11.75 - $18.48 | | 87,788 |
| | 7.32 | | 13.17 |
| | 54,377 |
| | 13.29 |
| $18.49 - $19.98 | | 3,907 |
| | 6.47 | | 18.55 |
| | 3,301 |
| | 18.55 |
| $19.99 - $26.28 | | 2,687 |
| | 5.48 | | 21.55 |
| | 2,320 |
| | 21.55 |
| $0.01 – $26.28 | | 2,301,144 |
| | 3.82 | | $ | 2.38 |
| | 2,167,482 |
| | $ | 1.83 |
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Fair value of employee stock options |
For fiscal 2013 the fair value of employee stock options was estimated using the following weighted average assumptions: | | | | | | | | Year Ended June 30, 2013 | Expected term | | 6.1 years |
| Expected volatility | | 52 | % | Risk-free interest rate | | 0.9 | % | Expected dividend yield | | — |
| Weighted average grant date fair value | | $ | 5.57 |
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Activity of RSUs |
The following table summarizes the activity of the RSUs made by the Company: | | | | | | | | | Number of Shares | | Weighted Average Grant Date Fair Value | Non-vested RSUs, June 30, 2012 | 453,620 |
| | $ | 9.42 |
| RSUs granted | 656,500 |
| | 14.11 |
| RSUs vested | (70,512 | ) | | 14.14 |
| RSUs canceled | (294,702 | ) | | 5.29 |
| Non-vested RSUs, June 30, 2013 | 744,906 |
| | $ | 14.74 |
| RSUs granted | 209,032 |
| | 37.87 |
| RSUs vested | (170,197 | ) | | 15.59 |
| RSUs canceled | (234,039 | ) | | 16.18 |
| Non-vested RSUs, June 30, 2014 | 549,702 |
| | $ | 22.65 |
| RSUs granted | 182,865 |
| | 32.47 |
| RSUs vested | (182,507 | ) | | 21.27 |
| RSUs canceled | (149,425 | ) | | 24.84 |
| Non-vested RSUs, June 30, 2015 | 400,635 |
| | 26.95 |
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