XML 50 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2012
Cash Flows from Operating Activities:      
Net income and comprehensive income $ 176,937 $ 80,490 $ 102,589
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 2,819 1,963 602
Provision for inventory obsolescence 3,295 850 195
Deferred taxes 2,087 377 (897)
Excess tax benefit from employee stock-based awards (5,908) (2,323) (13,794)
Stock-based compensation 4,906 3,376 1,493
Loss on disposal of fixed assets 45 150 0
Write-off of intangible assets 229 0 0
Loss on extinguishment of debt 458    
Provision for doubtful accounts (658) 1,096 815
Changes in operating assets and liabilities:      
Accounts receivable (18,329) 38,664 (36,648)
Inventories (33,764) (8,996) (2,266)
Deferred cost of revenues (94) (1,185) 881
Prepaid income taxes (3,256) 0 0
Prepaid expenses and other assets (9,644) (1,858) 3,660
Accounts payable (2,326) 9,725 11,692
Taxes payable 7,150 6,645 9,539
Deferred revenues 1,989 2,396 (929)
Accrued liabilities and other (4,609) 521 4,856
Net cash provided by operating activities 121,327 131,891 81,788
Cash Flows from Investing Activities:      
Purchase of property and equipment and other long-term assets (4,045) (5,363) (3,310)
Net cash used in investing activities (4,045) (5,363) (3,310)
Cash Flows from Financing Activities:      
Proceeds from borrowings under credit agreement 72,254 0 0
Proceeds from term loan, net 0 20,833 34,813
Repayments on term loan balance (46,250) (4,333) (5,250)
Repayments on credit facility balance (30,000) 0 0
Proceeds from credit facility 0 30,000 0
Repurchases of common stock and outstanding awards 0 (54,354) 0
Payment of special common stock dividend 0 (15,652) 0
Repurchase of Series A convertible preferred stock 0 0 (108,000)
Issuance of convertible subordinated promissory notes 0 0 68,000
Payment of convertible subordinated promissory notes 0 0 (68,000)
Proceeds from shares issued in initial public offering, net of offering costs 0 0 32,443
Proceeds from exercise of stock options 2,090 635 811
Excess tax benefit from employee stock-based awards 5,908 2,323 13,794
Tax withholdings related to net share settlements of restricted stock units (2,013) (214) (1,390)
Net cash provided by (used in) financing activities 1,989 (20,762) (32,779)
Net increase in cash and cash equivalents 119,271 105,766 45,699
Cash and cash equivalents at beginning of year 227,826 122,060 76,361
Cash and cash equivalents at end of year 347,097 227,826 122,060
Supplemental Disclosure of Cash Flow Information:      
Income Taxes paid 14,007 4,095 6,211
Interest paid 1,650 1,699 689
Conversion of preferred stock into common stock in conjunction with initial public offering $ 0 $ 0 $ 150,278