2013 Q3 Form 10-Q Financial Statement

#000128846913000006 Filed on October 30, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q3
Revenue $31.77M $27.80M
YoY Change 14.28% 57.58%
Cost Of Revenue $11.93M $10.33M
YoY Change 15.55% 63.75%
Gross Profit $19.83M $17.47M
YoY Change 13.53% 54.14%
Gross Profit Margin 62.43% 62.84%
Selling, General & Admin $9.965M $6.167M
YoY Change 61.59% 22.53%
% of Gross Profit 50.25% 35.31%
Research & Development $14.57M $10.86M
YoY Change 34.21% 14.79%
% of Gross Profit 73.47% 62.15%
Depreciation & Amortization $900.0K $900.0K
YoY Change 0.0% 0.0%
% of Gross Profit 4.54% 5.15%
Operating Expenses $24.53M $17.02M
YoY Change 44.13% 17.48%
Operating Profit -$4.703M $445.0K
YoY Change -1156.85% -114.1%
Interest Expense $0.00 $11.00K
YoY Change -100.0% -65.63%
% of Operating Profit 2.47%
Other Income/Expense, Net -$77.00K -$14.00K
YoY Change 450.0% -60.0%
Pretax Income -$4.727M $494.0K
YoY Change -1056.88% -115.63%
Income Tax $155.0K $44.00K
% Of Pretax Income 8.91%
Net Earnings -$4.882M $450.0K
YoY Change -1184.89% -103.95%
Net Earnings / Revenue -15.37% 1.62%
Basic Earnings Per Share -$0.14 $0.01
Diluted Earnings Per Share -$0.14 $0.01
COMMON SHARES
Basic Shares Outstanding 34.51M shares 33.32M shares
Diluted Shares Outstanding 34.51M shares 34.55M shares

Balance Sheet

Concept 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $62.50M $77.40M
YoY Change -19.25% -11.95%
Cash & Equivalents $26.50M $26.63M
Short-Term Investments $36.00M $50.80M
Other Short-Term Assets $1.600M $1.400M
YoY Change 14.29% -6.67%
Inventory $9.675M $8.946M
Prepaid Expenses
Receivables $18.87M $16.28M
Other Receivables $0.00 $0.00
Total Short-Term Assets $92.65M $104.0M
YoY Change -10.96% -2.76%
LONG-TERM ASSETS
Property, Plant & Equipment $5.890M $6.274M
YoY Change -6.12% 28.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $20.50M $2.600M
YoY Change 688.46%
Other Assets $273.0K $258.0K
YoY Change 5.81% 158.0%
Total Long-Term Assets $27.54M $9.612M
YoY Change 186.48% 55.03%
TOTAL ASSETS
Total Short-Term Assets $92.65M $104.0M
Total Long-Term Assets $27.54M $9.612M
Total Assets $120.2M $113.7M
YoY Change 5.74% 0.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.872M $7.931M
YoY Change -25.96% 36.74%
Accrued Expenses $6.089M $12.83M
YoY Change -52.54% 36.5%
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 $34.62M $29.09M
YoY Change 18.99% 64.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $917.0K $683.0K
YoY Change 34.26% -31.7%
Total Long-Term Liabilities $917.0K $683.0K
YoY Change 34.26% -31.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $34.62M $29.09M
Total Long-Term Liabilities $917.0K $683.0K
Total Liabilities $35.53M $29.78M
YoY Change 19.34% 59.23%
SHAREHOLDERS EQUITY
Retained Earnings -$69.10M -$51.59M
YoY Change 33.93%
Common Stock $153.7M $135.4M
YoY Change 13.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $84.65M $83.88M
YoY Change
Total Liabilities & Shareholders Equity $120.2M $113.7M
YoY Change 5.74% 0.4%

Cashflow Statement

Concept 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$4.882M $450.0K
YoY Change -1184.89% -103.95%
Depreciation, Depletion And Amortization $900.0K $900.0K
YoY Change 0.0% 0.0%
Cash From Operating Activities $3.100M $6.300M
YoY Change -50.79% -333.33%
INVESTING ACTIVITIES
Capital Expenditures -$1.100M -$1.600M
YoY Change -31.25% 220.0%
Acquisitions
YoY Change
Other Investing Activities -$200.0K $18.10M
YoY Change -101.1% -26.12%
Cash From Investing Activities -$1.300M $16.50M
YoY Change -107.88% -31.25%
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 -8.700M
YoY Change -100.0% -3000.0%
NET CHANGE
Cash From Operating Activities 3.100M 6.300M
Cash From Investing Activities -1.300M 16.50M
Cash From Financing Activities 0.000 -8.700M
Net Change In Cash 1.800M 14.10M
YoY Change -87.23% -34.72%
FREE CASH FLOW
Cash From Operating Activities $3.100M $6.300M
Capital Expenditures -$1.100M -$1.600M
Free Cash Flow $4.200M $7.900M
YoY Change -46.84% -459.09%

Facts In Submission

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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
16000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
5000 USD
CY2012Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
796000 USD
CY2013Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
917000 USD
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-14000 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 For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
9236000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1246000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
117000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
66369000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
56800000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
955000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
390000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2633000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3026000 USD
CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2013Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2013Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2012Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1622000 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1494000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1687000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1246000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
55000000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
69900000 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
15165000 USD
CY2013Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
16011000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6866000 USD
CY2013Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5890000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
2000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
30000 USD
CY2012Q3 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
10855000 USD
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
38389000 USD
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
33758000 USD
CY2013Q3 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
14569000 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-69101000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-59015000 USD
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
31765000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
88072000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
72898000 USD
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
27795000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7165000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
84648000 USD
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1231000 shares
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34506000 shares
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
19752000 USD
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6167000 USD
CY2013Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
9960000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
25131000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9591000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
80233000 USD
CY2013Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
200000 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 Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33402000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33698000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34547000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33698000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33402000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34506000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33316000 shares
CY2012Q4 mxl Accrued Litigation Fees Current
AccruedLitigationFeesCurrent
586000 USD
CY2013Q3 mxl Accrued Litigation Fees Current
AccruedLitigationFeesCurrent
1812000 USD
CY2013Q3 mxl Accrued Price Protection Liability
AccruedPriceProtectionLiability
12497000 USD
CY2012Q4 mxl Accrued Price Protection Liability
AccruedPriceProtectionLiability
7880000 USD
CY2011Q4 mxl Accrued Price Protection Liability
AccruedPriceProtectionLiability
2856000 USD
CY2012Q3 mxl Accrued Price Protection Liability
AccruedPriceProtectionLiability
7951000 USD
CY2012Q4 mxl Accrued Technology License Payments Current
AccruedTechnologyLicensePaymentsCurrent
2996000 USD
CY2013Q3 mxl Accrued Technology License Payments Current
AccruedTechnologyLicensePaymentsCurrent
3000000 USD
CY2013Q3 mxl Availableforsale Securities Gross Unrealized Gain Accumulatedin Investments
AvailableforsaleSecuritiesGrossUnrealizedGainAccumulatedinInvestments
26000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Document Type
DocumentType
10-Q
CY2012Q4 mxl Availableforsale Securities Gross Unrealized Gain Accumulatedin Investments
AvailableforsaleSecuritiesGrossUnrealizedGainAccumulatedinInvestments
9000 USD
CY2013Q3 mxl Availableforsale Securities Gross Unrealized Loss Accumulatedin Investments
AvailableforsaleSecuritiesGrossUnrealizedLossAccumulatedinInvestments
7000 USD
CY2012Q4 mxl Availableforsale Securities Gross Unrealized Loss Accumulatedin Investments
AvailableforsaleSecuritiesGrossUnrealizedLossAccumulatedinInvestments
4000 USD
CY2012Q4 mxl Deferred Revenue And Deferred Profit
DeferredRevenueAndDeferredProfit
2289000 USD
CY2013Q3 mxl Deferred Revenue And Deferred Profit
DeferredRevenueAndDeferredProfit
3047000 USD
CY2012Q4 mxl Deferred Revenue Distributor Transactions
DeferredRevenueDistributorTransactions
3735000 USD
CY2013Q3 mxl Deferred Revenue Distributor Transactions
DeferredRevenueDistributorTransactions
4678000 USD
CY2013Q3 mxl Deferred Revenue Rebates
DeferredRevenueRebates
72000 USD
CY2012Q4 mxl Deferred Revenue Rebates
DeferredRevenueRebates
23000 USD
mxl Deferred Revenueand Deferred Profits
DeferredRevenueandDeferredProfits
758000 USD
mxl Deferred Revenueand Deferred Profits
DeferredRevenueandDeferredProfits
-1688000 USD
mxl Increase Decreasein Accrued Price Protection Liability
IncreaseDecreaseinAccruedPriceProtectionLiability
4617000 USD
mxl Increase Decreasein Accrued Price Protection Liability
IncreaseDecreaseinAccruedPriceProtectionLiability
5111000 USD
mxl Number Of Class Of Stock Outstanding
NumberOfClassOfStockOutstanding
2 class
CY2013Q3 mxl Number Of Patents In Connection With Patent Infringement Matters
NumberOfPatentsInConnectionWithPatentInfringementMatters
19 patent
CY2012Q3 mxl Number Of Patents In Connection With Patent Infringement Matters
NumberOfPatentsInConnectionWithPatentInfringementMatters
19 patent
CY2012Q3 mxl Number Of Patents In Connection With Patent Infringement Matterscounterclaims
NumberOfPatentsInConnectionWithPatentInfringementMatterscounterclaims
3 patent
mxl Number Of Patents In Connection With Patent Infringement Matterscounterclaims
NumberOfPatentsInConnectionWithPatentInfringementMatterscounterclaims
5 patent
CY2012Q3 mxl Number Of Patents In Connection With Patent Infringement Matterscounterclaims
NumberOfPatentsInConnectionWithPatentInfringementMatterscounterclaims
3 patent
CY2012Q3 mxl Percentage Of Revenue From Companys Distributors
PercentageOfRevenueFromCompanysDistributors
0.38
mxl Percentage Of Revenue From Companys Distributors
PercentageOfRevenueFromCompanysDistributors
0.29
CY2013Q3 mxl Percentage Of Revenue From Companys Distributors
PercentageOfRevenueFromCompanysDistributors
0.27
mxl Percentage Of Revenue From Companys Distributors
PercentageOfRevenueFromCompanysDistributors
0.40
mxl Period Of Change Of Unrecognized Tax Benefits
PeriodOfChangeOfUnrecognizedTaxBenefits
P12M
mxl Price Protection Rebate Charges
PriceProtectionRebateCharges
9406000 USD
mxl Price Protection Rebate Charges
PriceProtectionRebateCharges
15920000 USD
mxl Price Protectionpayments
PriceProtectionpayments
-4311000 USD
mxl Price Protectionpayments
PriceProtectionpayments
-11276000 USD
mxl Production Mask Impairment Charge
ProductionMaskImpairmentCharge
1100000 USD
mxl Reversal Of Unclaimed Rebates
ReversalOfUnclaimedRebates
-27000 USD
CY2013Q3 mxl Taxable Income Adjustment From Tax Examination
TaxableIncomeAdjustmentFromTaxExamination
0 USD
mxl Reversal Of Unclaimed Rebates
ReversalOfUnclaimedRebates
0 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
mxl Term Of Invoice Of Distributor
TermOfInvoiceOfDistributor
P30D
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
0001288469-13-000006-index-headers.html Edgar Link pending
0001288469-13-000006-index.html Edgar Link pending
0001288469-13-000006.txt Edgar Link pending
0001288469-13-000006-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
mxl-20130930.xml Edgar Link completed
mxl-20130930.xsd Edgar Link pending
mxl-20130930_cal.xml Edgar Link unprocessable
mxl-20130930_def.xml Edgar Link unprocessable
mxl-20130930_lab.xml Edgar Link unprocessable
mxl-20130930_pre.xml Edgar Link unprocessable
mxl-2013930x10q.htm Edgar Link pending
mxl-2013930xex311.htm Edgar Link pending
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report.css Edgar Link pending
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