2016 Q1 Form 10-Q Financial Statement

#000128846916000066 Filed on May 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $102.7M $35.40M
YoY Change 190.1% 8.91%
Cost Of Revenue $41.52M $13.73M
YoY Change 202.48% 10.26%
Gross Profit $61.17M $21.67M
YoY Change 182.27% 8.07%
Gross Profit Margin 59.57% 61.22%
Selling, General & Admin $13.61M $10.94M
YoY Change 24.36% 41.01%
% of Gross Profit 22.25% 50.5%
Research & Development $23.75M $15.28M
YoY Change 55.43% 16.69%
% of Gross Profit 38.83% 70.51%
Depreciation & Amortization $5.772M $1.639M
YoY Change 252.17% 44.53%
% of Gross Profit 9.44% 7.56%
Operating Expenses $39.47M $26.23M
YoY Change 50.5% 25.74%
Operating Profit $21.70M -$4.554M
YoY Change -576.55% 467.12%
Interest Expense $200.0K $0.00
YoY Change
% of Operating Profit 0.92%
Other Income/Expense, Net -$198.0K -$34.00K
YoY Change 482.35% 183.33%
Pretax Income $21.67M -$4.518M
YoY Change -579.73% 499.2%
Income Tax $993.0K $204.0K
% Of Pretax Income 4.58%
Net Earnings $20.68M -$4.722M
YoY Change -537.97% 447.8%
Net Earnings / Revenue 20.14% -13.34%
Basic Earnings Per Share $0.33 -$0.12
Diluted Earnings Per Share $0.31 -$0.12
COMMON SHARES
Basic Shares Outstanding 62.59M shares 38.02M shares
Diluted Shares Outstanding 66.64M shares 38.02M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $150.1M $64.90M
YoY Change 131.28% -11.46%
Cash & Equivalents $76.84M $22.77M
Short-Term Investments $73.20M $42.20M
Other Short-Term Assets $6.200M $3.600M
YoY Change 72.22% 111.76%
Inventory $29.42M $12.85M
Prepaid Expenses
Receivables $41.04M $20.67M
Other Receivables $0.00 $0.00
Total Short-Term Assets $226.7M $102.0M
YoY Change 122.18% -4.97%
LONG-TERM ASSETS
Property, Plant & Equipment $21.54M $11.26M
YoY Change 91.21% 42.35%
Goodwill $49.78M $1.201M
YoY Change 4044.8%
Intangibles $49.29M
YoY Change
Long-Term Investments $16.80M $16.30M
YoY Change 3.07% 5.84%
Other Assets $2.169M $490.0K
YoY Change 342.65% -15.66%
Total Long-Term Assets $139.6M $39.48M
YoY Change 253.52% 60.53%
TOTAL ASSETS
Total Short-Term Assets $226.7M $102.0M
Total Long-Term Assets $139.6M $39.48M
Total Assets $366.3M $141.5M
YoY Change 158.82% 7.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.818M $7.526M
YoY Change 3.88% -23.97%
Accrued Expenses $17.27M $7.601M
YoY Change 127.19% 69.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $63.27M $39.86M
YoY Change 58.75% -4.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.773M $3.522M
YoY Change 35.52% 206.53%
Total Long-Term Liabilities $4.773M $3.522M
YoY Change 35.52% 206.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $63.27M $39.86M
Total Long-Term Liabilities $4.773M $3.522M
Total Liabilities $68.05M $43.38M
YoY Change 56.86% 1.26%
SHAREHOLDERS EQUITY
Retained Earnings -$102.1M -$83.51M
YoY Change 22.27% 15.01%
Common Stock $390.7M $181.6M
YoY Change 115.13% 12.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $288.0M $98.13M
YoY Change
Total Liabilities & Shareholders Equity $366.3M $141.5M
YoY Change 158.82% 7.24%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $20.68M -$4.722M
YoY Change -537.97% 447.8%
Depreciation, Depletion And Amortization $5.772M $1.639M
YoY Change 252.17% 44.53%
Cash From Operating Activities $38.95M $3.768M
YoY Change 933.81% -7.9%
INVESTING ACTIVITIES
Capital Expenditures $3.222M $1.024M
YoY Change 214.65% -29.13%
Acquisitions
YoY Change
Other Investing Activities -$27.50M $0.00
YoY Change -100.0%
Cash From Investing Activities -$30.70M -$987.0K
YoY Change 3009.93% -49.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.724M -$248.0K
YoY Change 595.16% -606.12%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $632.0K -$714.0K
YoY Change -188.52% 720.69%
NET CHANGE
Cash From Operating Activities $38.95M $3.768M
Cash From Investing Activities -$30.70M -$987.0K
Cash From Financing Activities $632.0K -$714.0K
Net Change In Cash $8.891M $2.067M
YoY Change 330.14% 0.58%
FREE CASH FLOW
Cash From Operating Activities $38.95M $3.768M
Capital Expenditures $3.222M $1.024M
Free Cash Flow $35.73M $2.744M
YoY Change 1202.19% 3.7%

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100000 USD
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3000 USD
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CY2015Q4 us-gaap Preferred Stock Shares Issued
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CY2016Q1 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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P1Y2M5D
CY2015Q4 us-gaap Stockholders Equity
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CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
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100000 USD
CY2016Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
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300000 USD
CY2015Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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0 shares
CY2016Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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3233000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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62585000 shares
CY2016Q1 us-gaap Nature Of Operations
NatureOfOperations
<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;">Description of Business</font></div><div style="line-height:120%;padding-top:12px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MaxLinear, Inc. was incorporated in Delaware in September 2003. MaxLinear, Inc., together with its wholly owned subsidiaries, collectively referred to as MaxLinear, or the Company, is a provider of radio-frequency and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and for data center, metro, and long-haul transport network applications. MaxLinear's customers include module makers, original equipment manufacturers, or OEMs, and original design manufacturers, or ODMs, who incorporate the Company&#8217;s products in a wide range of electronic devices including Pay-TV operator set-top boxes, DOCSIS data and voice gateways, hybrid analog and digital televisions and consumer terrestrial set-top boxes, Direct Broadcast Satellite outdoor units, and optical modules for data center, metro, and long-haul transport network applications. The Company is a fabless semiconductor company focusing its resources on the design, sale and marketing of its products.</font></div></div>
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;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 financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes to unaudited consolidated financial statements. Actual results could differ from those estimates.</font></div></div>

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