2011 Q4 Form 10-K Financial Statement

#000119312513040818 Filed on February 06, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2011 Q2
Revenue $19.30M $17.64M $18.09M
YoY Change 21.36% -4.65% -0.58%
Cost Of Revenue $7.600M $6.307M $6.700M
YoY Change 40.74% 14.67% 21.82%
Gross Profit $11.72M $11.33M $11.44M
YoY Change 12.72% -12.83% -9.96%
Gross Profit Margin 60.75% 64.24% 63.2%
Selling, General & Admin $5.900M $5.033M $4.500M
YoY Change 43.9% 22.76% 7.14%
% of Gross Profit 50.33% 44.41% 39.35%
Research & Development $10.20M $9.456M $12.70M
YoY Change 37.84% 29.53% 84.06%
% of Gross Profit 87.01% 83.45% 111.06%
Depreciation & Amortization $900.0K $900.0K $700.0K
YoY Change 50.0% 80.0% 40.0%
% of Gross Profit 7.68% 7.94% 6.12%
Operating Expenses $16.10M $14.49M $17.10M
YoY Change 40.0% 27.1% 54.05%
Operating Profit -$4.377M -$3.157M -$5.665M
YoY Change 297.91% -297.31% -454.06%
Interest Expense $0.00 $32.00K $100.0K
YoY Change -100.0% -68.0% 0.0%
% of Operating Profit
Other Income/Expense, Net $0.00 -$35.00K $0.00
YoY Change
Pretax Income -$4.400M -$3.161M -$5.600M
YoY Change 340.0% -285.94% -429.41%
Income Tax $300.0K $8.227M -$800.0K
% Of Pretax Income
Net Earnings -$4.692M -$11.39M -$4.796M
YoY Change -182.32% -913.43% -366.44%
Net Earnings / Revenue -24.32% -64.56% -26.51%
Basic Earnings Per Share -$0.14 -$0.35 -$0.15
Diluted Earnings Per Share -$0.14 -$0.35 -$0.15
COMMON SHARES
Basic Shares Outstanding 32.74M shares 32.44M
Diluted Shares Outstanding 32.74M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $75.20M $87.90M $91.10M
YoY Change -20.42% -10.21% -0.98%
Cash & Equivalents $28.03M $43.52M $21.90M
Short-Term Investments $47.20M $44.40M $69.20M
Other Short-Term Assets $1.400M $1.500M $4.300M
YoY Change -66.67% 25.0% 207.14%
Inventory $8.082M $9.200M $6.700M
Prepaid Expenses
Receivables $10.42M $8.400M $8.300M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $95.08M $107.0M $110.4M
YoY Change -12.93% -2.73% 4.15%
LONG-TERM ASSETS
Property, Plant & Equipment $5.494M $4.900M $5.200M
YoY Change 22.09% 19.51% 44.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.60M
YoY Change
Other Assets $228.0K $100.0K $5.800M
YoY Change -94.57% -50.0% 2800.0%
Total Long-Term Assets $17.30M $6.200M $11.70M
YoY Change 78.32% 19.23% 154.35%
TOTAL ASSETS
Total Short-Term Assets $95.08M $107.0M $110.4M
Total Long-Term Assets $17.30M $6.200M $11.70M
Total Assets $112.4M $113.2M $122.1M
YoY Change -5.49% -1.74% 10.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.936M $5.800M $6.600M
YoY Change 7.3% 41.46% 11.86%
Accrued Expenses $4.547M $9.400M $6.800M
YoY Change 22.89% 154.05% 100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $100.0K $100.0K
YoY Change -100.0% 0.0% 0.0%
Total Short-Term Liabilities $18.49M $17.70M $17.30M
YoY Change 34.99% -4.32% 4.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $855.0K $1.000M $1.300M
YoY Change 185.0% 400.0% 550.0%
Total Long-Term Liabilities $855.0K $1.000M $1.300M
YoY Change 185.0% 400.0% 333.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.49M $17.70M $17.30M
Total Long-Term Liabilities $855.0K $1.000M $1.300M
Total Liabilities $19.35M $18.70M $18.70M
YoY Change 38.21% 0.0% 10.65%
SHAREHOLDERS EQUITY
Retained Earnings -$33.69M
YoY Change
Common Stock $126.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $93.03M $94.50M $103.5M
YoY Change
Total Liabilities & Shareholders Equity $112.4M $113.2M $122.1M
YoY Change -5.49% -1.74% 10.4%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2011 Q2
OPERATING ACTIVITIES
Net Income -$4.692M -$11.39M -$4.796M
YoY Change -182.32% -913.43% -366.44%
Depreciation, Depletion And Amortization $900.0K $900.0K $700.0K
YoY Change 50.0% 80.0% 40.0%
Cash From Operating Activities -$1.900M -$2.700M -$400.0K
YoY Change -45.71% -135.53% -71.43%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M -$500.0K -$1.000M
YoY Change 0.0% -64.29% 42.86%
Acquisitions
YoY Change
Other Investing Activities -$13.60M $24.50M -$10.80M
YoY Change -525.0% -1007.41% -77.91%
Cash From Investing Activities -$14.60M $24.00M -$11.90M
YoY Change -763.64% -671.43% -76.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.000M 300.0K 1.000M
YoY Change -37.5%
NET CHANGE
Cash From Operating Activities -1.900M -2.700M -400.0K
Cash From Investing Activities -14.60M 24.00M -11.90M
Cash From Financing Activities 1.000M 300.0K 1.000M
Net Change In Cash -15.50M 21.60M -11.30M
YoY Change -5266.67% 535.29% -77.84%
FREE CASH FLOW
Cash From Operating Activities -$1.900M -$2.700M -$400.0K
Capital Expenditures -$1.000M -$500.0K -$1.000M
Free Cash Flow -$900.0K -$2.200M $600.0K
YoY Change -64.0% -124.44% -185.71%

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CY2012Q4 mxl Inventory Purchase Obligations Due In Fifth Year
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2 Lease
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4215000
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28000
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22000
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4215000
CY2010 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1300000 shares
CY2010 us-gaap Deferred Foreign Income Tax Expense Benefit
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-685000
CY2010 us-gaap Other Asset Impairment Charges
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36000
CY2010 us-gaap Stock Issued During Period Value New Issues
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72904000
CY2010 us-gaap Payments To Acquire Property Plant And Equipment
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2960000
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CY2010 us-gaap Share Based Goods And Nonemployee Services Transaction Expense
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200000
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8899000
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311000
CY2010 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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37667000
CY2010 us-gaap Lease And Rental Expense
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700000
CY2010 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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262000
CY2010 us-gaap Interest Expense
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29000
CY2010 us-gaap Income Tax Reconciliation State And Local Income Taxes
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336000
CY2010 us-gaap Proceeds From Issuance Of Common Stock
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1743000
CY2010 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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14000
CY2010 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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1273000
CY2010 us-gaap Increase Decrease In Other Noncurrent Liabilities
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186000
CY2010 us-gaap Deferred Federal Income Tax Expense Benefit
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1336000
CY2010 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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27725000
CY2010 us-gaap Net Cash Provided By Used In Operating Activities
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4838000
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21560000
CY2010 mxl Deferred Income Taxes Expense Benefit
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-6682000
CY2010 mxl Deferred Revenue And Deferred Profits
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4528000
CY2010 mxl Income Tax Reconciliation Foreign Dividends
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46000
CY2010 mxl Related Party Transactions Stockholder Affiliate
RelatedPartyTransactionsStockholderAffiliate
15800000
CY2010 mxl Increase Decrease In Accrued Price Protection Liabilities
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358000
CY2011 us-gaap Other Nonoperating Income Expense
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-241000
CY2011 us-gaap Deferred State And Local Income Tax Expense Benefit
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-1731000
CY2011 us-gaap Depreciation Depletion And Amortization
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CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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-1256000
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CY2011 us-gaap Investment Income Interest
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292000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-13775000
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
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32573000 shares
CY2011 us-gaap Increase Decrease In Accounts Receivable
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7374000
CY2011 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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31000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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-15031000
CY2011 us-gaap Income Tax Expense Benefit Continuing Operations
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CY2011 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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-12897000
CY2011 us-gaap Interest Paid
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CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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6700000
CY2011 us-gaap Share Based Compensation
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7368000
CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
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6463000
CY2011 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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974000
CY2011 us-gaap Current State And Local Tax Expense Benefit
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20000
CY2011 us-gaap Payments To Acquire Intangible Assets
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201000
CY2011 us-gaap Operating Income Loss
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-15013000
CY2011 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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7368000
CY2011 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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-31000
CY2011 us-gaap Earnings Per Share Basic
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657000
CY2011 us-gaap Repayments Of Long Term Capital Lease Obligations
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82000
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-1179000
CY2011 us-gaap Deferred Income Tax Expense Benefit
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6668000
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-22024000
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CY2011 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
3320000
CY2011 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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0
CY2011 us-gaap Increase Decrease In Employee Related Liabilities
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-51000
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-1746000
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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32573000 shares
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2733000
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12871000
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-22055000
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236000
CY2011 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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236000
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260000
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CY2011 us-gaap Income Tax Expense Benefit
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6993000
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21000
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-62000
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4368000
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
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2962000
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71937000
CY2011 us-gaap Availableforsale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments
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9000
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200000
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325000
CY2011 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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125350000
CY2011 us-gaap Payments To Acquire Available For Sale Securities
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111369000
CY2011 us-gaap Current Foreign Tax Expense Benefit
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69000
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AllocatedShareBasedCompensationExpense
7368000
CY2011 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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5100000 shares
CY2011 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
685000
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OtherAssetImpairmentCharges
150000
CY2011 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1000000
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40156000
CY2011 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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1182000
CY2011 us-gaap Interest Expense
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69000
CY2011 us-gaap Income Tax Reconciliation State And Local Income Taxes
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24000
CY2011 us-gaap Proceeds From Issuance Of Common Stock
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2815000
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0
CY2011 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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-5111000
CY2011 us-gaap Increase Decrease In Other Noncurrent Liabilities
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598000
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-5183000
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-7109000
CY2011 us-gaap Cost Of Revenue
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26616000
CY2011 mxl Income Tax Expense Payment Of Interest And Penalties
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255000
CY2011 mxl Deferred Income Taxes Expense Benefit
DeferredIncomeTaxesExpenseBenefit
6668000
CY2011 mxl Common Stock Issued Pursuant To Equity Awards Net Value
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1469000
CY2011 mxl Deferred Revenue And Deferred Profits
DeferredRevenueAndDeferredProfits
1293000
CY2011 mxl Percentage Of Revenue From Companys Distributors
PercentageOfRevenueFromCompanysDistributors
0.71 pure
CY2011 mxl Warranty Cost Accrual Recorded
WarrantyCostAccrualRecorded
0
CY2011 mxl Income Tax Reconciliation Foreign Dividends
IncomeTaxReconciliationForeignDividends
94000
CY2011 mxl Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
700000
CY2011 mxl Increase Decrease In Accrued Price Protection Liabilities
IncreaseDecreaseInAccruedPriceProtectionLiabilities
2400000
CY2012 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0001288469
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2012 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012 dei Trading Symbol
TradingSymbol
MXL
CY2012 dei Entity Registrant Name
EntityRegistrantName
MAXLINEAR INC
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2012 dei Amendment Flag
AmendmentFlag
false
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4137000
CY2012 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
12076000
CY2012 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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7000
CY2012 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2012 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-232000
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
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P6Y2M12D
CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
521000 shares
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-2062000
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3531000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-993000
CY2012 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Concentration of Credit Risk and Significant Customers</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents and accounts receivable. The Company limits its exposure to credit loss by placing its cash with high credit quality financial institutions. At times, such deposits may be in excess of insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company markets its products and services to consumer electronics and communications companies throughout the world. The Company makes periodic evaluations of the credit worthiness of its customers and does not require collateral for credit sales.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Customers greater than 10% of net revenue for each of the periods are as follows:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="81%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Years&#xA0;Ended&#xA0;December&#xA0;31,</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2010</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Percentage of total net revenue</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Arris</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">25</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">%&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">11</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">%&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">*</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Pace</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">10</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">*</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">*</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Panasonic</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">*</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">14</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">16</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Toshiba</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">*</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">*</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">10</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> </table> <p style="BORDER-BOTTOM: #000000 0.5pt solid; LINE-HEIGHT: 8px; MARGIN-TOP: 0px; WIDTH: 10%; MARGIN-BOTTOM: 2px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">*</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Represents less than 10% of the net revenue for the respective period.</font></td> </tr> </table> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"> &#xA0;</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Products shipped to international destinations representing greater than 10% of net revenue for each of the periods are as follows:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="82%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Years&#xA0;Ended&#xA0;December&#xA0;31,</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2010</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Percentage of total net revenue</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">China</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">38</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">%&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">15</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">%&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">24</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">%&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Taiwan</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">31</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">30</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">13</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Japan</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">14</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">39</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">57</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> </table> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The determination of which country a particular sale is allocated to is based on the destination of the product shipment.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Balances greater than 10% of accounts receivable are as follows:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="90%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>December&#xA0;31,</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Percentage of gross accounts receivable:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Unihan Corporation</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">24</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">%&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">12</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">%&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Moly Tech Limited</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">20</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">19</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Asia Fortune Electronics Enterprise</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">*</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">20</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> </table> <p style="BORDER-BOTTOM: #000000 0.5pt solid; LINE-HEIGHT: 8px; MARGIN-TOP: 0px; WIDTH: 10%; MARGIN-BOTTOM: 2px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">*</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Represents less than 10% of the gross accounts receivable for the respective period end.</font></td> </tr> </table> </div>
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-4191000
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InvestmentIncomeInterest
282000
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.55
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-11918000
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33198000 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
2236000 shares
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y7M6D
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-12911000
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IncomeTaxExpenseBenefitContinuingOperations
341000
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3800000
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-6214000
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InterestPaid
1000
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2100000
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9984000
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.01
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-6216000
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278000
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PaymentsToAcquireIntangibleAssets
390000
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-12908000
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9984000
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StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1914000
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CY2012 us-gaap Interest Expense
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CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2012 mxl Warranty Cost Accrual Recorded
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