XML 52 R32.htm IDEA: XBRL DOCUMENT v2.4.0.8
Quarterly Financial Information (unaudited) (Tables)
12 Months Ended
Mar. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information
The operating results for any quarter are not necessarily indicative of results for any future period. 
 
Fiscal Year Ended March 31, 2014
 
Fiscal Year Ended March 31, 2013
 
Q1 (1)
 
Q2 (2)
 
Q3 (3)
 
Q4
 
Q1
 
Q2
 
Q3(4)
 
Q4(5)(6)
 
(In thousands, except per share data)
Net revenues
$
54,148

 
$
55,387

 
$
54,844

 
$
51,771

 
$
41,294

 
$
46,324

 
$
51,698

 
$
56,326

Cost of revenues
22,342

 
21,397

 
21,644

 
19,806

 
18,355

 
20,561

 
22,958

 
21,174

Gross profit
31,806

 
33,990

 
33,200

 
31,965

 
22,939

 
25,763

 
28,740

 
35,152

Total operating expenses
24,556

 
66,757

 
40,900

 
9,229

 
47,891

 
48,515

 
101,942

 
49,116

Operating loss
7,250

 
(32,767
)
 
(7,700
)
 
22,736

 
(24,952
)
 
(22,752
)
 
(73,202
)
 
(13,964
)
Interest and other income (expense)
3,795

 
576

 
617

 
418

 
1,762

 
835

 
2,258

 
(4,654
)
Loss before income taxes
11,045

 
(32,191
)
 
(7,083
)
 
23,154

 
(23,190
)
 
(21,917
)
 
(70,944
)
 
(18,618
)
Income tax expense (benefit)
188

 
192

 
201

 
38

 
200

 
(360
)
 
618

 
(1,012
)
Net loss
$
10,857

 
$
(32,383
)
 
$
(7,284
)
 
$
23,116

 
$
(23,390
)
 
$
(21,557
)
 
$
(71,562
)
 
$
(17,606
)
Basic net income (loss) per share
$
0.16

 
$
(0.45
)
 
$
(0.10
)
 
$
0.31

 
$
(0.37
)
 
$
(0.33
)
 
$
(1.08
)
 
$
(0.26
)
Shares used in calculating basic net income (loss) per share
69,360

 
72,610

 
73,989

 
75,629

 
62,409

 
64,947

 
66,113

 
67,566

Diluted net income (loss) per share
$
0.15

 
$
(0.45
)
 
$
(0.10
)
 
$
0.30

 
$
(0.37
)
 
$
(0.33
)
 
$
(1.08
)
 
$
(0.26
)
Shares used in calculating diluted income (loss) per share
70,234

 
72,610

 
73,989

 
77,193

 
62,409

 
64,947

 
66,113

 
67,566


(1)
The consolidated operating results for the first quarter of fiscal 2014 included a charge of $9.3 million related to the Veloce consideration and a gain on sale of TPack of $19.7 million.
(2) The consolidated operating results for the second quarter of fiscal 2014 included a charge of $30.4 million related to the Veloce consideration.
(3) The consolidated operating results for the third quarter of fiscal 2014 included a charge of $2.9 million related to the Veloce consideration.
(4) The consolidated operating results for the third quarter of fiscal 2013 included a charge of $51.9 million related to the Veloce consideration and a charge of $6.2 million related to restructuring charges.
(5) The consolidated operating results for the fourth quarter of fiscal 2013 included a charge of $9.6 million related to the Veloce consideration.
(6) During fiscal 2012, one significant product development milestone relating to the Veloce project was considered probable of achievement and accordingly $60.4 million was recognized as research and development expense (see further discussion in Note 4, Veloce, to the Consolidated Financial Statements). However, approximately $8.0 million of the R&D expense was incorrectly recognized as this expense amount related to Unallocated Veloce Units that had not yet been distributed as of March 31, 2012. R&D expenses were also recognized during the first three quarters of fiscal 2013 in connection with further progress made in connection with the performance milestones relating to Veloce. However, the R&D expenses recognized during the first three quarters of fiscal 2013 also incorrectly included immaterial amounts related to the Unallocated Veloce Units. During the fourth quarter of fiscal 2013, the Company corrected the error impacting fiscal 2012 and the first three quarters of fiscal 2013. The correction of the errors resulted in a reduction of R&D expenses recognized by $10.4 million during the fourth quarter of fiscal 2013.