<SEC-DOCUMENT>0001415889-15-003599.txt : 20151109
<SEC-HEADER>0001415889-15-003599.hdr.sgml : 20151109
<ACCEPTANCE-DATETIME>20151105160457
ACCESSION NUMBER:		0001415889-15-003599
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20151103
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20151105
DATE AS OF CHANGE:		20151105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ubiquiti Networks, Inc.
		CENTRAL INDEX KEY:			0001511737
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
		IRS NUMBER:				320097377
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35300
		FILM NUMBER:		151200543

	BUSINESS ADDRESS:	
		STREET 1:		2580 ORCHARD PARKWAY
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95131
		BUSINESS PHONE:		408-942-3085

	MAIL ADDRESS:	
		STREET 1:		2580 ORCHARD PARKWAY
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95131
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k-11052015_011150.htm
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">UNITED STATES</font></div>
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<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 18pt; FONT-WEIGHT: bold">FORM 8-K</font><br></div>

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<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date of Report (Date of earliest event reported):&nbsp;&nbsp;November 3, 2015</font><br></div>

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<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Exact name of registrant as specified in its charter)</font><br></div>

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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 2.02&nbsp;</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Results of Operations and Financial Condition.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&nbsp;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On November 5, 2015, Ubiquiti Networks, Inc. (the &ldquo;Company&rdquo;) issued a press release announcing its preliminary financial results for the fiscal quarter ended September 30, 2015. A copy of the press release is attached hereto as Exhibit&nbsp;99.1.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&nbsp;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The&nbsp;Company hereby furnishes the information relating to its preliminary financial results for the fiscal quarter ended September 30, 2015 set forth in the press release issued on November 5, 2015 and which is incorporated herein by reference. This information is not deemed &ldquo;filed&rdquo; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), or otherwise subject to the liabilities of that section. Registration statements or other documents filed with the Securities and Exchange Commission shall not incorporate this information by reference, except as otherwise expressly stated in such filing.</font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 8.01</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Other Events.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&nbsp;</div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On November 3, 2015, the Board of Directors of the Company approved a $50 million stock repurchase program. Under the new stock repurchase program, the Company may repurchase up to $50 million of its common stock. The plan expires on September 30, 2016. As part of the share repurchase program, shares may be purchased in open market transactions, including through block purchases, through privately negotiated transactions, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Exchange Act. The timing, manner, price and amount of any repurchases will be determined in the Company's discretion and the share repurchase program may be suspended, terminated or modified at any time for any reason. The repurchase program does not obligate the Company to acquire any specific number of shares, and all open market repurchases will be made in accordance with Exchange Act Rule 10b-18, which sets certain restrictions on the method, timing, price and volume of open market stock repurchases.</font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 9.01&nbsp;&nbsp;</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Financial Statements and Exhibits.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description</font></div>
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</tr><tr><td align="left" valign="top" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&nbsp; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">99.1</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Press Release dated November 5, 2015.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Forward Looking Statements</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Certain statements in this Current Report on Form 8-K are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements other than statements of historical fact including words such as &ldquo;look&rdquo;, "will", &ldquo;anticipate&rdquo;, &ldquo;believe&rdquo;, &ldquo;estimate&rdquo;, &ldquo;expect&rdquo;, "forecast", &ldquo;consider&rdquo; and &ldquo;plan&rdquo; and statements in the future tense are forward looking statements. The statements in this Current Report on Form 8-K that could be deemed forward-looking statements include statements regarding our expectations for our financial results for the fiscal quarter ended September 30, 2015 and statements regarding expectations related to our cash position, expenses, new products, and financial performance estimates including revenues, GAAP diluted EPS and non-GAAP diluted EPS for the Company's fiscal quarter ending September&nbsp;30, 2015 , and any statements or assumptions underlying any of the foregoing. Forward-looking statements are subject to certain risks and uncertainties that could cause our actual future results to differ materially, or cause a material adverse impact on our results. Potential risks and uncertainties include, but are not limited to, fluctuations in our operating results; varying demand for our products due to the financial and operating condition of our distributors and their customers, and distributors' inventory management practices; political and economic conditions and volatility affecting the stability of business environments, economic growth, currency values, commodity prices and other factors that may influence the ultimate demand for our products in particular geographies or globally; impact of counterfeiting and our ability to contain such impact; our reliance on a limited number of distributors; inability of our contract manufacturers and suppliers to meet our demand; our dependence on Qualcomm Atheros for chipsets without a short-term alternative; as we move into new markets competition from certain of our current or potential competitors who may be more established in such markets; our ability to keep pace with technological and market developments; success and timing of new product introductions by us and the performance of our products generally; our ability to effectively manage the significant increase in our transactional sales volumes; we may become subject to warranty claims, product liability and product recalls; that a substantial majority of our sales are into countries outside the United States and we are subject to numerous U.S. export control and economic sanctions laws; costs related to responding to government inquiries related to regulatory compliance; our reliance on the Ubiquiti Community; our reliance on certain key members of our management team, including our founder and chief executive officer, Robert J. Pera; adverse tax-related matters such as tax audits, changes in our effective tax rate or new tax legislative proposals; whether the final determination of our income tax liability may be materially different from our income tax provisions; the impact of any intellectual property litigation and claims for indemnification and litigation related to U.S. Securities laws and economic and political conditions in the United States and abroad. We discuss these risks in greater detail under the heading &ldquo;Risk Factors&rdquo; and elsewhere in our Annual Report on Form 10-K for the year ended&nbsp;June&nbsp;30, 2015, and subsequent filings filed with the U.S. Securities and Exchange Commission (the SEC), which are available at the SEC's website at www.sec.gov. Copies may also be obtained by contacting the Ubiquiti Networks Investor Relations Department, by email at IR@ubnt.com or by visiting the Investor Relations section of the Ubiquiti Networks website,&nbsp;<font style="DISPLAY: inline; TEXT-DECORATION: underline">http://ir.ubnt.com</font>. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date made. Except as required by law, Ubiquiti Networks undertakes no obligation to update information contained herein. You should review our SEC filings carefully and with the understanding that our actual future results may be materially different from what we expect.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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<td colspan="2" width="50%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ubiquiti Networks, Inc.</font></td>
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<td width="4%" style="PADDING-BOTTOM: 2px"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">By:</font></td>
<td width="46%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline">/s/ Robert J. Pera</font>&nbsp;&nbsp;</font></td>
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<td width="4%" style="PADDING-BOTTOM: 2px"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Name:</font></td>
<td width="46%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Robert J. Pera</font></td>
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<td width="4%" style="PADDING-BOTTOM: 2px"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Title:</font></td>
<td width="46%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Chief Executive Officer</font></td>
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<TYPE>EX-99
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<html><head><title>Secconnect.com</title></head><body style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<p style="margin:0px; font-size:8pt" align="right">&nbsp; </p>
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<p style="margin:0px" align="center"><b>UBIQUITI NETWORKS REPORTS FIRST QUARTER FISCAL 2016 FINANCIAL RESULTS</b></p>
<p style="margin:0px" align="center"><b><i>&nbsp;~ Achieves Strong Revenue and Earnings ~</i></b></p>
<p style="margin:0px" align="center"><b><i>~ Non-GAAP Diluted EPS of $0.51 Per Share ~</i></b></p>
<p style="margin:0px"><br></p>
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<p style="margin:0px">SAN JOSE, Calif. <font style="font-family:Arial Unicode MS,Times New Roman">&ndash;</font> Nov. 5, 2015 - Ubiquiti Networks, Inc. (NASDAQ:UBNT) (<font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font>Ubiquiti<font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font>) today announced results for the first fiscal quarter of 2016, ended September&nbsp;30, 2015.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px" align="justify"><b>First Quarter Financial Summary</b></p>
<p style="margin:0px"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><i>Revenues of $151.4 million</i></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><i>GAAP gross profit of $73.5 million and non-GAAP gross profit of $72.7 million</i></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><i>GAAP net income of $53.8 million and non-GAAP net income of $45.5 million</i></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><i>GAAP diluted EPS of $0.61 and non-GAAP diluted EPS of $0.51</i></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><i>$47.7 million in net cash provided by operating activities</i></p>
<p style="margin:0px; clear:left"><br></p>
<p style="margin:0px"><b>Recent Financial Highlights</b></p>
<p style="margin:0px">&nbsp;</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><b>Enterprise Technology revenues increased 19% quarter-over-quarter</b>, fueled by UniFi<b style="font-size:7pt;font-weight:normal;">&reg;</b><b>&nbsp;</b>access points and other industry-leading products targeting the Enterprise market</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><b>Completed $100 million stock repurchase plan as of October 20, 2015, </b>repurchasing $63.3 million of common stock during the quarter ended September 30, 2015</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><b>Initiated a new stock repurchase program</b>, authorizing the Company to repurchase up to $50 million of its common stock as disclosed in the Form 8-K filed on November 5, 2015</p>
<p style="margin:0px; clear:left"><br></p>
<p style="margin:0px"><b>Recent Product Highlights</b></p>
<p style="margin:0px">&nbsp;</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><b>Released the new UniFi AC, </b>four new access points and a redesigned UniFi Controller featuring advanced technology for enterprise, hospitality, and education markets.&nbsp;&nbsp;In conjunction with this release, we launched an Easy App for UniFi setup</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><b>Achieved backwards compatibility for airMAX</b><b style="font-size:7pt;font-weight:normal;"><b>&reg;</b></b> AC products through release of beta version of airOS<b style="font-size:7pt;font-weight:normal;">&reg;</b> 8</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><b>Obtained DFS certifications</b> for our remaining 802.11n and 802.11ac products, unlocking the full spectrum available to our U.S. WISP operators</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><b>Launched UniFi Cloud Key</b>, hybrid cloud device management that securely runs a local instance of the UniFi Controller software and features cloud Single Sign-On for remote access</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><b>Announced sunMAX</b><b style="font-size:7pt;font-weight:normal;">&reg;</b><b>, </b>a solar solution designed to address the obstacles preventing solar deployment on a global scale</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:72px; text-indent:-2px"><b>Introduced enhancements to our recently introduced airFiber</b><b style="font-size:7pt;font-weight:normal;"><b>&reg;</b></b> X with the airFiber NxN, a thoughtfully engineered MIMO multiplexer designed for the global last-mile wireless industry. With expected range exceeding 200km+ and increased throughput of up to 2Gbps+, airFiber NxN is a technological leap in true long-range, carrier-class, backhaul technology for the world</p>
<p style="margin:0px; clear:left"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>Financial Results Summary ($, in millions, except per share data)</b></p>
<p style="margin:0px"><br></p>
<table style="margin-top:0px; font-size:10pt" cellpadding="0" cellspacing="0" align="center"><tr style="font-size:0"><td width="178.8"></td><td width="16.6"></td><td width="124.2"></td><td width="16.6"></td><td width="124.2"></td><td width="16.6"></td><td width="124.2"></td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="178.8"><p style="margin:0px"><b>Income statement highlights</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="16.6"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b>F1Q16</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="16.6"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b>F4Q15</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="16.6"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b>F1Q15</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="178.8"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Revenues</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">151.4</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">145.3</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">150.1</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="178.8"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;"><i>&nbsp;&nbsp;&nbsp;&nbsp;Service Provider Technology</i></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;"><i>103.4</i></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;"><i>104.8</i></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;"><i>107.3</i></b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="178.8"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;"><i>&nbsp;&nbsp;&nbsp;&nbsp;Enterprise Technology</i></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;"><i>48.0</i></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;"><i>40.5</i></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;"><i>42.8</i></b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="178.8"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Cost of Revenues</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;">77.9</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;">79.1</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;">89.0</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="178.8"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Gross Profit</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">73.5</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">66.1</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">61.0</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="178.8"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;"><i>&nbsp;&nbsp;&nbsp;&nbsp;Gross Profit (%)</i></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;"><i>48.5%</i></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;"><i>45.5%</i></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;"><i>40.7%</i></b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="178.8"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Total Operating Expenses(1)</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">13.7</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">58.8</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">17.4</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="178.8"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Income from Operations</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;">59.8</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;">7.3</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;">43.6</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="178.8"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">GAAP Net Income</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">53.8</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">4.5</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">37.7</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="178.8"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">GAAP EPS (diluted)</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;">0.61</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;">0.05</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;">0.42</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="178.8"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Non-GAAP Net Income</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">45.5</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">44.1</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#CCEEFF;font-weight:normal;">43.4</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="178.8"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Non-GAAP EPS (diluted)</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;">0.51</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;">0.50</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="16.6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="124.2"><p style="margin:0px" align="center"><b style="background-color:#FFFFFF;font-weight:normal;">0.48</b></p>
</td></tr></table><p style="margin:0px" align="justify">&nbsp;</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:6px; width:30px; float:left">(1)</p>
<p style="margin:0px; padding-left:30px; text-indent:-2px">Includes business e-mail compromise (<font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font>BEC<font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font>) fraud loss of $39.1 million in F4Q15 and recovery of $8.0 million in F1Q16.</p>
<p style="margin:0px; clear:left" align="justify">&nbsp;</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>Balance Sheet Highlights</b></p>
<p style="margin:0px"><br></p>
<p style="margin:0px">Total cash and cash equivalents as of September&nbsp;30, 2015 were $436.1 million, compared with $446.4 million as of June 30, 2015.&nbsp;&nbsp;The slight sequential decrease in cash and cash equivalents during the first quarter of fiscal 2016 is net of $63.3 million in share repurchases as part of our share repurchase program.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px">This quarter we saw days sales outstanding in accounts receivable ("DSO") of 39 days, compared with 41 days in the prior quarter, and 40 days in the first quarter of fiscal 2015.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>Business Outlook</b></p>
<p style="margin:0px"><br></p>
<p style="margin:0px">Based on recent business trends, Ubiquiti currently believes the demand environment in its end markets supports the following forecast for the Company's second fiscal quarter ending December 31, 2015.&nbsp;&nbsp;The following are Ubiquiti<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s financial performance estimates for the second quarter of fiscal 2016:</p>
<p style="margin:0px"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:48px; text-indent:-2px">Revenues of between $150 million and $160 million</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:48px; text-indent:-2px">GAAP diluted EPS of $0.48 - $0.55</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:48px; text-indent:-2px">Non-GAAP diluted EPS of $0.49 - $0.56</p>
<p style="margin:0px; clear:left"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>Conference Call Information</b></p>
<p style="margin:0px"><br></p>
<p style="margin:0px">Ubiquiti Networks will host a Q&amp;A-only call to discuss the Company<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s financial results at 2:00 p.m. Pacific Time today.&nbsp;&nbsp;Management<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s prepared remarks can be found on the Investor Relations section of the Ubiquiti Networks website, <u>http://ir.ubnt.com/results.cfm</u>.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px">To listen to the Q&amp;A call via telephone, dial (877) 291-1296 (U.S. toll-free) or (720) 259-9209 (International) to be connected to the call by an operator.&nbsp;&nbsp;Participants should dial in at least 10 minutes prior to the start of the call.&nbsp;&nbsp;Investors may also listen to a live webcast of the Q&amp;A conference call by visiting the Investor Relations section of the Ubiquiti Networks website at <u>http://ir.ubnt.com</u>.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px">A recording of the Q&amp;A call will be available approximately two hours after the call concludes and will be accessible on the Investor Relations section of the Ubiquiti Networks website, <u>http://ir.ubnt.com</u>.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>About Ubiquiti Networks</b></p>
<p style="margin:0px"><br></p>
<p style="margin:0px">Ubiquiti Networks (Nasdaq:UBNT) is closing the digital divide by building network communication platforms for everyone and everywhere. With over 28 million devices sold worldwide, Ubiquiti is transforming under-networked enterprises and communities. Our leading edge platforms, airMAX<b style="font-size:7pt;font-weight:normal;">&reg;</b>, UniFi<b style="font-size:7pt;font-weight:normal;">&reg;</b>, airFiber<b style="font-size:7pt;font-weight:normal;">&reg;</b>, UniFi<b style="font-size:7pt;font-weight:normal;">&reg;</b> Video, mFi<b style="font-size:7pt;font-weight:normal;">&reg;</b> and EdgeMAX<b style="font-size:7pt;font-weight:normal;">&reg;</b>, combine innovative technology, disruptive price-to-performance and the support of a global user community to eliminate barriers to connectivity. For more information, join our community at http://www.ubnt.com.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px">Ubiquiti, Ubiquiti Networks, the U logo, UBNT, airMAX, UniFi, airFiber, mFi, EdgeMAX and sunMAX are registered trademarks or trademarks of Ubiquiti Networks, Inc. in the United States and other countries.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px">The Ubiquiti Networks, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=24865</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>Investor Relations Contact</b></p>
<p style="margin:0px"><br></p>
<p style="margin:0px">Anne Fazioli</p>
<p style="margin:0px">Ubiquiti Networks, Vice President of Investor Relations</p>
<p style="margin:0px"><b><u>IR@ubnt.com</u></b></p>
<p style="margin:0px"><br></p>
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<p style="margin:0px"><b>Safe Harbor for Forward Looking Statements</b></p>
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<p style="margin:0px">Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.&nbsp;&nbsp;Statements other than statements of historical fact including words such as <font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font>look<font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font>, "will", <font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font>anticipate<font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font>, <font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font>believe<font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font>, <font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font>estimate<font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font>, <font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font>expect<font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font>, "forecast", <font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font>consider<font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font> and <font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font>plan<font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font> and statements in the future tense are forward looking statements.&nbsp;&nbsp;The statements in this press release that could be deemed forward-looking statements include statements regarding expectations related to our cash position, expenses, new products, and financial performance estimates including revenues, GAAP diluted EPS and non-GAAP diluted EPS for the Company's fiscal quarter ending September&nbsp;30, 2015, and any statements or assumptions underlying any of the foregoing.</p>
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<p style="margin:0px">Forward-looking statements are subject to certain risks and uncertainties that could cause our actual future results to differ materially, or cause a material adverse impact on our results.&nbsp;&nbsp;Potential risks and uncertainties include, but are not limited to, fluctuations in our operating results; varying demand for our products due to the financial and operating condition of our distributors and their customers, and distributors' inventory management practices; political and economic conditions and volatility affecting the stability of business environments, economic growth, currency values, commodity prices and other factors that may influence the ultimate demand for our products in particular geographies or globally; impact of counterfeiting and our ability to contain such impact; our reliance on a limited number of distributors; inability of our contract manufacturers and suppliers to meet our demand; our dependence on Qualcomm Atheros for chipsets without a short-term alternative; as we move into new markets competition from certain of our current or potential competitors who may be more established in such markets; our ability to keep pace with technological and market developments; success and timing of new product introductions by us and the performance of our products generally; our ability to effectively manage the significant increase in our transactional sales volumes; we may become subject to warranty claims, product liability and product recalls; that a substantial majority of our sales are into countries outside the United States and we are subject to numerous U.S. export control and economic sanctions laws; costs related to responding to government inquiries related to regulatory compliance; our reliance on the Ubiquiti Community; our reliance on certain key members of our management team, including our founder and chief executive officer, Robert J. Pera; adverse tax-related matters such as tax audits, changes in our effective tax rate or new tax legislative proposals; whether the final determination of our income tax liability may be materially different from our income tax provisions; the impact of any intellectual property litigation and claims for indemnification; litigation related to U.S. Securities laws; and economic and political conditions in the United States and abroad.&nbsp;&nbsp;We discuss these risks in greater detail under the heading <font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font>Risk Factors<font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font> and elsewhere in our Annual Report on Form 10-K for the year ended June&nbsp;30, 2015, and subsequent filings filed with the U.S. Securities and Exchange Commission (the SEC), which are available at the SEC's website at www.sec.gov.&nbsp;&nbsp;Copies may also be obtained by contacting the Ubiquiti Networks Investor Relations Department, by email at IR@ubnt.com or by visiting the Investor Relations section of the Ubiquiti Networks website, <u>http://ir.ubnt.com</u>.</p>
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<p style="margin:0px">Given these uncertainties, you should not place undue reliance on these forward-looking statements.&nbsp;&nbsp;Also, forward-looking statements represent our management's beliefs and assumptions only as of the date made.&nbsp;&nbsp;Except as required by law, Ubiquiti Networks undertakes no obligation to update information contained herein.&nbsp;&nbsp;You should review our SEC filings carefully and with the understanding that our actual future results may be materially different from what we expect.</p>
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<p style="margin:0px"><b>Use of Non-GAAP Financial Information</b></p>
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<p style="margin:0px">To supplement our condensed consolidated financial results prepared under generally accepted accounting principles, or GAAP, we use non-GAAP measures of net income and earnings per diluted share that are adjusted to exclude certain costs, expenses and gains such as stock based compensation expense, Business e-mail compromise (<font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font>BEC<font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font>) fraud loss/(recovery), implementation of overhead capitalization, reserve against vendor deposits relating to a purchase commitment termination fee and the tax effects of these non-GAAP adjustments.&nbsp;&nbsp;Reconciliations of the adjustments to GAAP results for the three months ended September 30, 2015 and 2014 are provided below.&nbsp;&nbsp;In addition, an explanation of the ways in which management uses non-GAAP financial information to evaluate its business, the substance behind management's decision to use this non-GAAP financial information, material limitations associated with the use of non-GAAP financial information, the manner in which management compensates for those limitations, and the substantive reasons management believes that this non-GAAP financial information provides useful information to investors is included under "About our Non-GAAP Net Income and Adjustments" after the tables below.</p>
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<table style="margin-top:0px; font-size:10pt" cellpadding="0" cellspacing="0" align="center"><tr style="font-size:0"><td width="457.333"></td><td width="6.067"></td><td width="6.067"></td><td width="54.2"></td><td width="6.067"></td><td width="6.067"></td><td width="6.067"></td><td width="54.2"></td><td width="6.067"></td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="602.133" colspan="9"><p style="margin:0px">&nbsp;</p></td></tr></table><p style="margin:0px"><br><br></p>
<p style="margin:0px" align="center"><br></p>
<hr style="margin-bottom: 9.6px; padding-top: 9.6px;" noshade size="1"><p style="margin:0px; font-size:8pt; page-break-before:always" align="right"></p><p style="line-height:normal; width:0px; font-family:Times New Roman; font-size:10pt; color:#000000">&nbsp; </p>

<table style="margin-top:0px; font-size:10pt" cellpadding="0" cellspacing="0" align="center"><tr style="font-size:0"><td width="457.333"></td><td width="6.067"></td><td width="6.067"></td><td width="54.2"></td><td width="6.067"></td><td width="6.067"></td><td width="6.067"></td><td width="54.2"></td><td width="6.067"></td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="602.133" colspan="9"><p style="margin:0px">Ubiquiti Networks Inc.</p>
<p style="margin:0px"><b>Condensed Consolidated Statement of Operations</b></p>
<p style="margin:0px"><b>(In thousands, except per share data)</b></p>
<p style="margin:0px"><b>(Unaudited)</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="457.333"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6.067"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="132.667" colspan="6"><p style="margin:0px" align="center"><b>Three Months Ended </b></p>
<p style="margin:0px" align="center"><b>September 30,</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="6.067"><p style="margin:0px">&nbsp;</p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="457.333"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6.067"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="center"><b>2015</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="6.067"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6.067"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="center"><b>2014</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="6.067"><p style="margin:0px">&nbsp; </p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.333"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Revenues</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">151,415</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">150,087</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.333"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Cost of revenues</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">77,911</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">89,036</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.333"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Gross profit</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">73,504</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">61,051</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.333"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Operating expenses:</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.333"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Research and development</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">13,561</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">11,721</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.333"><p style="margin:0px; text-indent:24px"><b style="background-color:#FFFFFF;font-weight:normal;">Sales, general and administrative</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">8,142</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">5,696</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.333"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Business e-mail compromise ("BEC") fraud loss/(recovery)</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:1px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">(8,034</b><b style="background-color:#CCEEFF;font-weight:normal;">)</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:1px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;"><font style="font-family:Arial Unicode MS,Times New Roman">&mdash;</font></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.333"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Total operating expenses</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">13,669</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">17,417</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.333"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Income from operations</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">59,835</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">43,634</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.333"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Interest expense and other, net</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">(116</b><b style="background-color:#FFFFFF;font-weight:normal;">)</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">(58)</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.333"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">\</b><b style="background-color:#CCEEFF;font-weight:normal;">Income before provision for income taxes</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">59,719</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">43,576</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.333"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Provision for income taxes</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">5,960</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">5,833</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.333"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Net income</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="54.2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">53,759</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="54.2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">37,743</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.333"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Net income per share of common stock:</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.333"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Basic</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="54.2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">0.62</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="54.2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">0.43</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.333"><p style="margin:0px; text-indent:24px"><b style="background-color:#FFFFFF;font-weight:normal;">Diluted</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="54.2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">0.61</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="54.2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">0.42</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.333"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Weighted average shares used in computing net income per share of common stock:</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.267" colspan="2"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.333"><p style="margin:0px; text-indent:24px"><b style="background-color:#FFFFFF;font-weight:normal;">Basic</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">87,062</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">88,240</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.333"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Diluted</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">88,465</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="60.267" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">89,913</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6.067"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr></table><p style="margin:0px">&nbsp;</p>
<p style="margin:0px">&nbsp;</p>
<table style="margin-top:0px; font-size:10pt" cellpadding="0" cellspacing="0" align="center"><tr style="font-size:0"><td width="457.267"></td><td width="6"></td><td width="6"></td><td width="54.133"></td><td width="6"></td><td width="6"></td><td width="6"></td><td width="54.133"></td><td width="6"></td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="601.533" colspan="9"><p style="margin:0px"><b>Ubiquiti Networks Inc.</b></p>
<p style="margin:0px"><b>Reconciliation of GAAP Net Income to Non-GAAP Net Income</b></p>
<p style="margin:0px"><b>(In thousands, except per share data)</b></p>
<p style="margin:0px"><b>(Unaudited)</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="457.267"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="132.267" colspan="6"><p style="margin:0px" align="center"><b>Three Months Ended </b></p>
<p style="margin:0px" align="center"><b>September 30,</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="6"><p style="margin:0px">&nbsp;</p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="457.267"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="center"><b>2015</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="center"><b>2014</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="6"><p style="margin:0px">&nbsp; </p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Net income</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">53,759</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">37,743</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Stock-based compensation:</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="54.133"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="54.133"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.267"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Cost of revenues</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">113</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">149</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.267"><p style="margin:0px; text-indent:24px"><b style="background-color:#FFFFFF;font-weight:normal;">Research and development</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">624</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">825</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.267"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Sales, general and administrative</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">29</b><b style="background-color:#CCEEFF;font-weight:normal;">0</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">398</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Purchase commitment termination fee</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;"><font style="font-family:Arial Unicode MS,Times New Roman">&mdash;</font></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">5,500</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Business e-mail compromise ("BEC") fraud loss/(recovery)</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp;</b><b style="background-color:#CCEEFF;font-weight:normal;">(8,034</b><b style="background-color:#CCEEFF;font-weight:normal;">)</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;"><font style="font-family:Arial Unicode MS,Times New Roman">&mdash;</font></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Implementation of overhead capitalization</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">(944</b><b style="background-color:#FFFFFF;font-weight:normal;">)</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;"><font style="font-family:Arial Unicode MS,Times New Roman">&mdash;</font></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Tax effect of non-GAAP adjustments</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">(297</b><b style="background-color:#CCEEFF;font-weight:normal;">)</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">(1,209</b><b style="background-color:#CCEEFF;font-weight:normal;">)</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp;</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Non-GAAP net income</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">45,511</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">43,406</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Non-GAAP diluted EPS</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">0.51</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">0.48</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Weighted-average shares used in non-GAAP diluted EPS</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">88,465</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">89,913</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr></table><p style="margin:0px"><br></p>
<p style="margin-top:0px; margin-bottom:9.8px"><br></p>
<table style="margin-top:0px; font-size:10pt" cellpadding="0" cellspacing="0" align="center"><tr style="font-size:0"><td width="449.933"></td><td width="6"></td><td width="6"></td><td width="72"></td><td width="12"></td><td width="6"></td><td width="6"></td><td width="54.133"></td><td width="6"></td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="618.067" colspan="9"><p style="margin:0px">&nbsp;</p></td></tr></table><p style="margin-top:0px; margin-bottom:9.8px"><br><br></p>
<p style="margin:0px" align="center"><br></p>
<hr style="margin-bottom: 9.6px; padding-top: 9.6px;" noshade size="1"><p style="margin:0px; font-size:8pt; page-break-before:always" align="right"></p><p style="line-height:normal; margin-bottom:9.8px; width:0px; font-family:Times New Roman; font-size:10pt; color:#000000">&nbsp; </p>

<table style="margin-top:0px; font-size:10pt" cellpadding="0" cellspacing="0" align="center"><tr style="font-size:0"><td width="449.933"></td><td width="6"></td><td width="6"></td><td width="72"></td><td width="12"></td><td width="6"></td><td width="6"></td><td width="54.133"></td><td width="6"></td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="618.067" colspan="9"><p style="margin-top:0px; margin-bottom:9.8px; font-family:Calibri,Times New Roman; font-size:11pt">Ubiquiti Networks Inc.</p>
<p style="margin:0px"><b>Condensed Consolidated Balance Sheets</b></p>
<p style="margin:0px"><b>(In thousands, except share amounts)</b></p>
<p style="margin:0px"><b>(Unaudited)</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="449.933"><p style="margin:0px"><b>&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="78" colspan="2"><p style="margin:0px; padding-right:-6px" align="center"><b>September 30,</b> </p>
<p style="margin:0px" align="center"><b>2015</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="12"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="center"><b>June&nbsp;30,&nbsp;</b> </p>
<p style="margin:0px" align="center"><b>2015</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp;</p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="449.933"><p style="margin:0px"><b>Assets</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="78" colspan="2"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="12"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="60.133" colspan="2"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp; </p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="449.933"><p style="margin:0px">Current assets:</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="78" colspan="2"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="12"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="60.133" colspan="2"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp; </p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Cash and cash equivalents</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="72"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">436,080</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">446,401</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#FFFFFF;font-weight:normal;">Accounts receivable, net</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">63,585</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">66,104</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Inventories</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">30,694</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">37,031</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#FFFFFF;font-weight:normal;">Vendor deposits</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">19,052</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">19,998</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Current deferred tax asset</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">1,535</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">1,535</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#FFFFFF;font-weight:normal;">Prepaid income taxes</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;"><font style="font-family:Arial Unicode MS,Times New Roman">&mdash;</font></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">2,566</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Prepaid expenses and other current assets</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">13,641</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">7,711</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:48px"><b style="background-color:#FFFFFF;font-weight:normal;">Total current assets</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">564,587</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">581,346</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Property and equipment, net</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">15,755</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">15,602</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Long-term deferred tax asset</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">1,538</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">1,515</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Other long<font style="font-family:Arial Unicode MS,Times New Roman">&ndash;</font>term assets</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">2,020</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">2,109</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Total assets</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="72"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">583,900</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">600,572</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;"><b>Liabilities and Stockholders<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font> Equity</b></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="78" colspan="2"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Current liabilities:</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="78" colspan="2"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Accounts payable</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="72"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">23,129</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">43,856</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#FFFFFF;font-weight:normal;">Income taxes payable</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="72"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">2,065</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">1,108</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Debt - short-term</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="72"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">10,000</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">10,000</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#FFFFFF;font-weight:normal;">Other current liabilities</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">28,101</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">15,170</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:48px"><b style="background-color:#CCEEFF;font-weight:normal;">Total current liabilities</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">63,295</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">70,134</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Long-term taxes payable</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">20,867</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">19,810</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Debt - long-term</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">85,000</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">87,500</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Deferred revenues - long-term</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">1,005</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">974</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Total liabilities</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">170,167</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">178,418</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Stockholders<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font> equity:</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="78" colspan="2"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp;</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Common stock</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">82</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">87</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#FFFFFF;font-weight:normal;">Additional paid<font style="font-family:Arial Unicode MS,Times New Roman">&ndash;</font>in capital</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;"><font style="font-family:Arial Unicode MS,Times New Roman">&mdash;</font></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;"><font style="font-family:Arial Unicode MS,Times New Roman">&mdash;</font></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Treasury stock</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;"><font style="font-family:Arial Unicode MS,Times New Roman">&mdash;</font></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;"><font style="font-family:Arial Unicode MS,Times New Roman">&mdash;</font></b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#FFFFFF;font-weight:normal;">Retained earnings</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">413,651</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">422,067</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="449.933"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Total stockholders<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font> equity</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign="bottom" width="78" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">413,733</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">422,154</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="449.933"><p style="margin:0px; text-indent:24px"><b style="background-color:#FFFFFF;font-weight:normal;">Total liabilities and stockholders<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font> equity</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="72"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">583,900</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="12"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:4px double #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">600,572</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr></table><p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin-top:0px; margin-bottom:9.8px"><br></p>
<table style="margin-top:0px; font-size:10pt" cellpadding="0" cellspacing="0" align="center"><tr style="font-size:0"><td width="457.267"></td><td width="6"></td><td width="6"></td><td width="54.133"></td><td width="6"></td><td width="6"></td><td width="6"></td><td width="54.133"></td><td width="6"></td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="601.533" colspan="9"><p style="margin:0px">&nbsp;</p></td></tr></table><p style="margin-top:0px; margin-bottom:9.8px"><br><br></p>
<p style="margin:0px" align="center"><br></p>
<hr style="margin-bottom: 9.6px; padding-top: 9.6px;" noshade size="1"><p style="margin:0px; font-size:8pt; page-break-before:always" align="right"></p><p style="line-height:normal; margin-bottom:9.8px; width:0px; font-family:Times New Roman; font-size:10pt; color:#000000">&nbsp; </p>

<table style="margin-top:0px; font-size:10pt" cellpadding="0" cellspacing="0" align="center"><tr style="font-size:0"><td width="457.267"></td><td width="6"></td><td width="6"></td><td width="54.133"></td><td width="6"></td><td width="6"></td><td width="6"></td><td width="54.133"></td><td width="6"></td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="601.533" colspan="9"><p style="margin-top:0px; margin-bottom:9.8px; font-family:Calibri,Times New Roman; font-size:11pt">Ubiquiti Networks Inc.</p>
<p style="margin:0px"><b>Revenue by Product Category</b></p>
<p style="margin:0px"><b>(In thousands)</b></p>
<p style="margin:0px"><b>(Unaudited)</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="457.267"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="132.267" colspan="6"><p style="margin:0px" align="center"><b>Three Months Ended</b> </p>
<p style="margin:0px" align="center"><b>September 30,</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp;</p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="457.267"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="center"><b>2015</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="center"><b>2014</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp;</p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Service Provider Technology</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">103,399</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">107,271</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Enterprise Technology</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">48,016</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">42,816</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.267"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Total revenues</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">151,415</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">150,087</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr></table><p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<table style="margin-top:0px; font-size:10pt" cellpadding="0" cellspacing="0" align="center"><tr style="font-size:0"><td width="457.267"></td><td width="6"></td><td width="6"></td><td width="54.133"></td><td width="6"></td><td width="6"></td><td width="6"></td><td width="54.133"></td><td width="6"></td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="601.533" colspan="9"><p style="margin:0px"><b>Ubiquiti Networks Inc.</b></p>
<p style="margin:0px"><b>Revenue by Geographical Area</b></p>
<p style="margin:0px"><b>(In thousands)</b></p>
<p style="margin:0px"><b>(Unaudited)</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="457.267"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp;</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="132.267" colspan="6"><p style="margin:0px" align="center"><b>Three Months Ended </b></p>
<p style="margin:0px" align="center"><b>September 30,</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="6"><p style="margin:0px">&nbsp;</p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="457.267"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="center"><b>2015</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="6"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="bottom" width="6"><p style="margin:0px">&nbsp; </p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1.333px solid #000000" valign="bottom" width="60.133" colspan="2"><p style="margin:0px" align="center"><b>2014</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="6"><p style="margin:0px">&nbsp; </p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">North America</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">53,234</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">53,582</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="top" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">South America</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">22,148</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">31,134</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="top" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">Europe, the Middle East and Africa</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">60,503</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">50,607</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="top" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="457.267"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">Asia Pacific</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">15,530</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#FFFFFF;font-weight:normal;">14,764</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#FFFFFF" valign="top" width="6"><p style="margin:0px"><b style="background-color:#FFFFFF;font-weight:normal;">&nbsp; </b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="457.267"><p style="margin:0px; text-indent:24px"><b style="background-color:#CCEEFF;font-weight:normal;">Total revenues</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">151,415</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">$</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF; border-bottom:4px double #000000" valign="bottom" width="54.133"><p style="margin:0px" align="right"><b style="background-color:#CCEEFF;font-weight:normal;">150,087</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; background-color:#CCEEFF" valign="top" width="6"><p style="margin:0px"><b style="background-color:#CCEEFF;font-weight:normal;">&nbsp; </b></p>
</td></tr></table><p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>About our Non-GAAP Net Income and Adjustments</b></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>Use of Non-GAAP Financial Information</b></p>
<p style="margin:0px"><br></p>
<p style="margin:0px">To supplement our condensed consolidated financial results prepared under generally accepted accounting principles, or GAAP, we use non-GAAP measures of net income and earnings per diluted share that are GAAP net income and GAAP earnings per diluted share adjusted to exclude certain costs, expenses and gains/losses.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px">We believe that the presentation of non-GAAP net income and non-GAAP earnings per diluted share provides important supplemental information regarding non-cash expenses, significant items that we believe are important to understanding our financial, and business trends relating to our financial condition and results of operations.&nbsp;&nbsp;Non-GAAP net income and non-GAAP earnings per diluted share are among the primary indicators used by management as a basis for planning and forecasting future periods and by management and our board of directors to determine whether our operating performance has met specified targets and thresholds.&nbsp;&nbsp;Management uses non-GAAP net income and non-GAAP earnings per diluted share when evaluating operating performance because it believes that the exclusion of the items described below, for which the amounts or timing may vary significantly depending upon the Company's activities and other factors, facilitates comparability of the Company's operating performance from period to period.&nbsp;&nbsp;We have chosen to provide this information to investors so they can analyze our operating results in the same way that management does and use this information in their assessment of our business and the valuation of our Company.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>Use and Economic Substance of Non-GAAP Financial Measures used by Ubiquiti Networks</b></p>
<p style="margin:0px"><br></p>
<p style="margin:0px">We compute non-GAAP net income and non-GAAP earnings per diluted share by adjusting GAAP net income and GAAP earnings per diluted share to remove the impact of certain adjustments and the tax effect of those adjustments.&nbsp;&nbsp;Items excluded from net income are:</p>
<p style="margin:0px"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:42.933px; width:66.933px; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:66.933px; text-indent:-2px">Stock-based compensation expense</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:42.933px; width:66.933px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:66.933px; text-indent:-2px">Business e-mail compromise ("BEC") fraud loss/(recovery)</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:42.933px; width:66.933px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:66.933px; text-indent:-2px">Implementation of overhead capitalization</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:42.933px; width:66.933px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:66.933px; text-indent:-2px">Reserve against vendor deposits relating to a purchase commitment termination fee</p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:42.933px; width:66.933px; clear:left; float:left"><font style="font-family:Arial Unicode MS,Times New Roman">&bull;</font></p>
<p style="margin:0px; padding-left:66.933px; text-indent:-2px">Tax effect of non-GAAP adjustments, applying the principles of ASC 740</p>
<p style="margin:0px; clear:left"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>Usefulness of Non-GAAP Financial Information to Investors</b></p>
<p style="margin:0px"><br></p>
<p style="margin:0px">These non-GAAP measures are not in accordance with, or an alternative to, GAAP and may be materially different from other non-GAAP measures, including similarly titled non-GAAP measures used by other companies.&nbsp;&nbsp;The presentation of this additional information should not be considered in isolation from, as a substitute for, or superior to, net income or earnings per diluted share prepared in accordance with GAAP.&nbsp;&nbsp;Non-GAAP financial measures have limitations in that they do not reflect certain items that may have a material impact upon our reported financial results.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px">For more information on the non-GAAP adjustments, please see the table captioned <font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font>Reconciliation of GAAP Net Income to Non-GAAP Net Income<font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font> included in this press release.</p>
<p style="margin:0px" align="justify">&nbsp;</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br><br></p>
<p style="margin:0px" align="center"><br></p>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
