2013 Q2 Form 10-Q Financial Statement

#000128846913000003 Filed on August 01, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $29.77M $24.42M
YoY Change 21.92% 34.96%
Cost Of Revenue $12.48M $9.298M
YoY Change 34.19% 38.78%
Gross Profit $17.30M $15.12M
YoY Change 14.38% 32.24%
Gross Profit Margin 58.09% 61.92%
Selling, General & Admin $7.768M $6.626M
YoY Change 17.24% 47.24%
% of Gross Profit 44.91% 43.82%
Research & Development $12.32M $11.00M
YoY Change 12.01% -13.43%
% of Gross Profit 71.2% 72.71%
Depreciation & Amortization $1.000M $800.0K
YoY Change 25.0% 14.29%
% of Gross Profit 5.78% 5.29%
Operating Expenses $20.08M $17.62M
YoY Change 13.97% 3.05%
Operating Profit -$2.787M -$2.499M
YoY Change 11.52% -55.89%
Interest Expense $0.00 $15.00K
YoY Change -100.0% -85.0%
% of Operating Profit
Other Income/Expense, Net -$44.00K $3.000K
YoY Change -1566.67%
Pretax Income -$2.773M -$2.429M
YoY Change 14.16% -56.63%
Income Tax $131.0K $130.0K
% Of Pretax Income
Net Earnings -$2.904M -$2.559M
YoY Change 13.48% -46.64%
Net Earnings / Revenue -9.75% -10.48%
Basic Earnings Per Share -$0.09 -$0.08
Diluted Earnings Per Share -$0.09 -$0.08
COMMON SHARES
Basic Shares Outstanding 33.75M shares 33.58M shares
Diluted Shares Outstanding 33.75M shares 33.58M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $61.80M $81.30M
YoY Change -23.99% -10.76%
Cash & Equivalents $24.72M $12.51M
Short-Term Investments $37.10M $68.80M
Other Short-Term Assets $1.800M $1.600M
YoY Change 12.5% -62.79%
Inventory $9.355M $8.500M
Prepaid Expenses
Receivables $17.86M $14.90M
Other Receivables $0.00 $0.00
Total Short-Term Assets $90.83M $106.4M
YoY Change -14.64% -3.62%
LONG-TERM ASSETS
Property, Plant & Equipment $6.149M $5.400M
YoY Change 13.87% 3.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $19.50M $3.000M
YoY Change 550.0%
Other Assets $267.0K $200.0K
YoY Change 33.5% -96.55%
Total Long-Term Assets $26.83M $9.300M
YoY Change 188.46% -20.51%
TOTAL ASSETS
Total Short-Term Assets $90.83M $106.4M
Total Long-Term Assets $26.83M $9.300M
Total Assets $117.7M $115.7M
YoY Change 1.69% -5.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.304M $6.800M
YoY Change 22.12% 3.03%
Accrued Expenses $4.857M $16.50M
YoY Change -70.56% 142.65%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $30.80M $25.50M
YoY Change 20.8% 47.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $903.0K $700.0K
YoY Change 29.0% -46.15%
Total Long-Term Liabilities $903.0K $700.0K
YoY Change 29.0% -46.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.80M $25.50M
Total Long-Term Liabilities $903.0K $700.0K
Total Liabilities $31.71M $26.20M
YoY Change 21.02% 40.11%
SHAREHOLDERS EQUITY
Retained Earnings -$64.22M
YoY Change
Common Stock $150.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $85.95M $89.50M
YoY Change
Total Liabilities & Shareholders Equity $117.7M $115.7M
YoY Change 1.69% -5.24%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$2.904M -$2.559M
YoY Change 13.48% -46.64%
Depreciation, Depletion And Amortization $1.000M $800.0K
YoY Change 25.0% 14.29%
Cash From Operating Activities $6.200M $1.000M
YoY Change 520.0% -350.0%
INVESTING ACTIVITIES
Capital Expenditures -$2.000M -$800.0K
YoY Change 150.0% -20.0%
Acquisitions
YoY Change
Other Investing Activities $3.300M -$12.50M
YoY Change -126.4% 15.74%
Cash From Investing Activities $1.300M -$13.20M
YoY Change -109.85% 10.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 1.000M
YoY Change -100.0% 0.0%
NET CHANGE
Cash From Operating Activities 6.200M 1.000M
Cash From Investing Activities 1.300M -13.20M
Cash From Financing Activities 0.000 1.000M
Net Change In Cash 7.500M -11.20M
YoY Change -166.96% -0.88%
FREE CASH FLOW
Cash From Operating Activities $6.200M $1.000M
Capital Expenditures -$2.000M -$800.0K
Free Cash Flow $8.200M $1.800M
YoY Change 355.56% 200.0%

Facts In Submission

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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-1000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
6000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0 USD
CY2013Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
903000 USD
CY2012Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
796000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-123000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-30000 USD
CY2013Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-50000 USD
CY2012Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3000 USD
us-gaap Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
0 USD
us-gaap Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
4836000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1123000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
69000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
47117000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
57460000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
195000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
655000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1626000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1822000 USD
CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2013Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2013Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2012Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1814000 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1494000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
45500000 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
15165000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1113000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1132000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
42851000 USD
CY2013Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
15573000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6866000 USD
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6149000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
29000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
2000 USD
CY2012Q2 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
10995000 USD
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
23820000 USD
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
22903000 USD
CY2013Q2 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
12309000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-59015000 USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-64219000 USD
CY2013Q2 us-gaap Sales Revenue Net
SalesRevenueNet
29773000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
56307000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
45103000 USD
CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
24420000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
13585000 USD
CY2012Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6626000 USD
CY2013Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7768000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15171000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6128000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4556000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
85947000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
80233000 USD
CY2013Q2 mxl Deferred Revenue Rebates
DeferredRevenueRebates
44000 USD
CY2013Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
100000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:12px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes of the unaudited consolidated financial statements. Actual results could differ from those estimates.</font></div></div>
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2012Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2013Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33748000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33445000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33287000 shares
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33578000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33287000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33445000 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33748000 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33578000 shares
CY2013Q2 mxl Accrued Litigation Fees Current
AccruedLitigationFeesCurrent
379000 USD
CY2012Q4 mxl Accrued Litigation Fees Current
AccruedLitigationFeesCurrent
586000 USD
CY2013Q2 mxl Accrued Price Protection Liability
AccruedPriceProtectionLiability
10677000 USD
CY2012Q4 mxl Accrued Price Protection Liability
AccruedPriceProtectionLiability
7880000 USD
CY2012Q2 mxl Accrued Price Protection Liability
AccruedPriceProtectionLiability
6702000 USD
CY2011Q4 mxl Accrued Price Protection Liability
AccruedPriceProtectionLiability
2840000 USD
CY2013Q2 mxl Accrued Technology License Payments Current
AccruedTechnologyLicensePaymentsCurrent
3000000 USD
CY2012Q4 mxl Accrued Technology License Payments Current
AccruedTechnologyLicensePaymentsCurrent
2996000 USD
CY2013Q2 mxl Deferred Revenue And Deferred Profit
DeferredRevenueAndDeferredProfit
2596000 USD
CY2012Q4 mxl Deferred Revenue And Deferred Profit
DeferredRevenueAndDeferredProfit
2289000 USD
CY2012Q4 mxl Deferred Revenue Distributor Transactions
DeferredRevenueDistributorTransactions
3735000 USD
CY2013Q2 mxl Deferred Revenue Distributor Transactions
DeferredRevenueDistributorTransactions
3986000 USD
mxl Price Protection Rebate Charges
PriceProtectionRebateCharges
5692000 USD
mxl Price Protection Rebate Charges
PriceProtectionRebateCharges
9922000 USD
CY2012Q4 mxl Deferred Revenue Rebates
DeferredRevenueRebates
23000 USD
mxl Deferred Revenueand Deferred Profits
DeferredRevenueandDeferredProfits
307000 USD
mxl Deferred Revenueand Deferred Profits
DeferredRevenueandDeferredProfits
-1804000 USD
mxl Increase Decreasein Accrued Price Protection Liability
IncreaseDecreaseinAccruedPriceProtectionLiability
2797000 USD
mxl Increase Decreasein Accrued Price Protection Liability
IncreaseDecreaseinAccruedPriceProtectionLiability
3846000 USD
mxl Intangible Asset Expenditures Irrcuredbut Notyet Paid
IntangibleAssetExpendituresIrrcuredbutNotyetPaid
300000 USD
mxl Intangible Asset Expenditures Irrcuredbut Notyet Paid
IntangibleAssetExpendituresIrrcuredbutNotyetPaid
0 USD
mxl Number Of Class Of Stock Outstanding
NumberOfClassOfStockOutstanding
2 class
CY2012Q3 mxl Number Of Patents In Connection With Patent Infringement Matters
NumberOfPatentsInConnectionWithPatentInfringementMatters
3 patent
CY2012Q3 mxl Number Of Patents In Connection With Patent Infringement Matters
NumberOfPatentsInConnectionWithPatentInfringementMatters
19 patent
CY2013Q2 mxl Number Of Patents In Connection With Patent Infringement Matters
NumberOfPatentsInConnectionWithPatentInfringementMatters
19 patent
CY2013Q2 mxl Number Of Patents In Connection With Patent Infringement Matters Additiona
NumberOfPatentsInConnectionWithPatentInfringementMattersAdditiona
1 patent
CY2013Q2 mxl Number Of Patents In Connection With Patent Infringement Matterscounterclaims
NumberOfPatentsInConnectionWithPatentInfringementMatterscounterclaims
5 patent
CY2013Q2 mxl Percentage Of Revenue From Companys Distributors
PercentageOfRevenueFromCompanysDistributors
0.33
mxl Percentage Of Revenue From Companys Distributors
PercentageOfRevenueFromCompanysDistributors
0.41
mxl Percentage Of Revenue From Companys Distributors
PercentageOfRevenueFromCompanysDistributors
0.31
CY2012Q2 mxl Percentage Of Revenue From Companys Distributors
PercentageOfRevenueFromCompanysDistributors
0.35
mxl Period Of Change Of Unrecognized Tax Benefits
PeriodOfChangeOfUnrecognizedTaxBenefits
P12M
mxl Price Protectionpayments
PriceProtectionpayments
-7125000 USD
mxl Price Protectionpayments
PriceProtectionpayments
-1830000 USD
CY2013Q2 mxl Production Mask Impairment Charge
ProductionMaskImpairmentCharge
1100000 USD
mxl Share Based Compensation Arrangement By Share Based Payment Award Award Expiration Period Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardExpirationPeriodMaximum
P10Y
mxl Share Based Compensation Arrangement By Share Based Payment Award Expiration Period Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationPeriodMinimum
P7Y
mxl Share Based Payment Award Exercise Price As Percentage Of Common Stock Fair Value Minimum
ShareBasedPaymentAwardExercisePriceAsPercentageOfCommonStockFairValueMinimum
1.00
CY2013Q2 mxl Shares Issuedupon Settlementof Executive Bonus Plan
SharesIssueduponSettlementofExecutiveBonusPlan
800000 shares
CY2013Q2 mxl Taxable Income Adjustment From Tax Examination
TaxableIncomeAdjustmentFromTaxExamination
0 USD
mxl Term Of Invoice Of Distributor
TermOfInvoiceOfDistributor
P30D
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001288469
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
MAXLINEAR INC
dei Trading Symbol
TradingSymbol
MXL

Files In Submission

Name View Source Status
0001288469-13-000003-index-headers.html Edgar Link pending
0001288469-13-000003-index.html Edgar Link pending
0001288469-13-000003.txt Edgar Link pending
0001288469-13-000003-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
mxl-20130630.xml Edgar Link completed
mxl-20130630.xsd Edgar Link pending
mxl-20130630_cal.xml Edgar Link unprocessable
mxl-20130630_def.xml Edgar Link unprocessable
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