Note 4 – Financial Statement Details

Accounts Receivable, net

The following is a summary of the components of accounts receivable, net (in thousands):


	June 26, 2011			June 27, 2010
Billed trade receivables	$	137,799		$	138,642
Unbilled contract receivables		1,038			1,391

		138,837			140,033
Allowance for sales returns, discounts and other incentives		(19,615	)		(20,551	)
Allowance for bad debts		(753	)		(1,947	)

Total accounts receivable, net	$	118,469		$	117,535

The following table summarizes the changes in the Company's allowance for sales returns and other incentives (in thousands):


	Fiscal Years Ended
	June 26, 2011			June 27, 2010			June 28, 2009
Balance at beginning of period	$	20,551		$	9,644		$	5,944
Current period claims		(47,448	)		(23,036	)		(10,981	)
Provision for sales returns		46,512			33,943			14,681

Balance at end of period	$	19,615		$	20,551		$	9,644

The following table is a roll forward of the Company's allowance for bad debts (in thousands):


	Fiscal Years Ended
	June 26, 2011			June 27, 2010			June 28, 2009
Balance at beginning of period	$	1,947		$	2,531		$	1,719
Current year provision		(956	)		738			1,048
Write-offs net of recoveries		(238	)		(1,322	)		(236	)

Balance at end of period	$	753		$	1,947		$	2,531

Inventories

The following is a summary of the components of inventories (in thousands):


	June 26, 2011		June 27, 2010
Raw material	$	38,781	$	24,858
Work-in-progress		74,816		57,180
Finished goods		62,885		30,203

Total inventories	$	176,482	$	112,241

Property and Equipment, net

The following table reflects the components of property and equipment (in thousands):


	June 26, 2011			June 27, 2010
Furniture and fixtures	$	10,439		$	8,273
Land and buildings		254,190			211,391
Machinery and equipment		800,007			649,558
Computer hardware/software		26,954			20,518
Leasehold improvements and other		18,305			17,894
Construction in progress		95,974			73,439

		1,205,869			981,073
Accumulated depreciation		(649,940	)		(561,347	)

Property and Equipment, net	$	555,929		$	419,726

Depreciation of property and equipment used in continuing operations totaled $93.1 million, $74.1 million and $76.7 million for the years ended June 26, 2011, June 27, 2010 and June 28, 2009, respectively.

During the years ended June 26, 2011, June 27, 2010 and June 28, 2009, the Company recorded approximately $1.5 million, $3.9 million and $6.3 million, respectively, as losses on disposals or impairments of property and equipment. These charges are reflected in Loss or Impairment on Disposal of Property and Equipment in the accompanying Consolidated Statements of Income.

Revenues, net

Revenues for fiscal 2011, 2010 and 2009 were comprised of the following product groups (in thousands, except percentages):


	Fiscal Years Ended
	June 26, 2011			June 27, 2010			June 28, 2009
LED products	$	889,991		$	789,947		$	524,318
Percent of revenue		90	%		91	%		92	%
Power and RF products		97,624			77,340			42,937
Percent of revenue		10	%		9	%		8	%

Total revenue	$	987,615		$	867,287		$	567,255