$QRVO
Qorvo Inc

2015 Q3 Form 10-Q Financial Statement

#000160477815000075 Filed on August 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q2
Revenue $673.6M $0.00
YoY Change -100.0%
Cost Of Revenue $394.1M $174.1M
YoY Change 126.44% -12.76%
Gross Profit $279.5M $142.3M
YoY Change 96.47% 52.21%
Gross Profit Margin 41.49%
Selling, General & Admin $145.7M $37.96M
YoY Change 283.95% -2.43%
% of Gross Profit 52.14% 26.68%
Research & Development $117.2M $44.59M
YoY Change 162.89% -7.69%
% of Gross Profit 41.93% 31.34%
Depreciation & Amortization $42.74M $11.84M
YoY Change 260.99% 2.06%
% of Gross Profit 15.29% 8.32%
Operating Expenses $280.9M $96.15M
YoY Change 192.1% 6.48%
Operating Profit -$1.335M $46.12M
YoY Change -102.89% 1355.35%
Interest Expense $548.0K $474.0K
YoY Change 15.61% -131.6%
% of Operating Profit 1.03%
Other Income/Expense, Net $4.119M $384.0K
YoY Change 972.66% -4.0%
Pretax Income $2.628M $46.07M
YoY Change -94.3% 1993.86%
Income Tax $600.0K $7.418M
% Of Pretax Income 22.83% 16.1%
Net Earnings $2.036M $38.65M
YoY Change -94.73% 2375.78%
Net Earnings / Revenue 0.3%
Basic Earnings Per Share $0.01 $0.54
Diluted Earnings Per Share $0.01 $0.52
COMMON SHARES
Basic Shares Outstanding 149.5M shares 149.3M shares 71.56M shares
Diluted Shares Outstanding 154.5M shares 73.66M shares

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $558.4M $196.6M
YoY Change 184.03% 23.34%
Cash & Equivalents $325.6M $97.56M
Short-Term Investments $232.8M $99.10M
Other Short-Term Assets $24.93M $18.70M
YoY Change 33.3% 14.72%
Inventory $363.9M $142.9M
Prepaid Expenses $53.01M
Receivables $408.1M $184.0M
Other Receivables $24.90M $16.10M
Total Short-Term Assets $1.580B $0.00
YoY Change -100.0%
LONG-TERM ASSETS
Property, Plant & Equipment $940.1M $196.0M
YoY Change 379.63% 1.4%
Goodwill $2.137B
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.400M $3.800M
YoY Change 15.79% -13.64%
Other Assets $64.63M $24.20M
YoY Change 167.07% 13.08%
Total Long-Term Assets $5.330B $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $1.580B $0.00
Total Long-Term Assets $5.330B $0.00
Total Assets $6.910B $0.00
YoY Change -100.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $206.1M $112.5M
YoY Change 83.17% 6.53%
Accrued Expenses $128.6M $61.40M
YoY Change 109.42% 3.19%
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 $335.5M $0.00
YoY Change -100.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $86.49M $25.00M
YoY Change 245.96% 2.04%
Total Long-Term Liabilities $86.49M $25.00M
YoY Change 245.96% 2.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $335.5M $0.00
Total Long-Term Liabilities $86.49M $25.00M
Total Liabilities $731.7M $0.00
YoY Change -100.0%
SHAREHOLDERS EQUITY
Retained Earnings -$408.9M $0.00
YoY Change
Common Stock $6.588B $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.178B $0.00
YoY Change
Total Liabilities & Shareholders Equity $6.910B $0.00
YoY Change -100.0%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $2.036M $38.65M
YoY Change -94.73% 2375.78%
Depreciation, Depletion And Amortization $42.74M $11.84M
YoY Change 260.99% 2.06%
Cash From Operating Activities $141.4M $36.26M
YoY Change 290.04% 403.63%
INVESTING ACTIVITIES
Capital Expenditures $89.40M $9.771M
YoY Change 814.9% -135.92%
Acquisitions $0.00
YoY Change
Other Investing Activities $14.30M -$19.60M
YoY Change -172.96% -162.62%
Cash From Investing Activities -$75.14M -$29.41M
YoY Change 155.47% -817.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $50.01M $0.00
YoY Change
Debt Paid & Issued, Net $0.00 $87.50M
YoY Change -100.0%
Cash From Financing Activities -$40.47M -$81.22M
YoY Change -50.17% 10052.63%
NET CHANGE
Cash From Operating Activities $141.4M $36.26M
Cash From Investing Activities -$75.14M -$29.41M
Cash From Financing Activities -$40.47M -$81.22M
Net Change In Cash $25.82M -$74.37M
YoY Change -134.72% -808.3%
FREE CASH FLOW
Cash From Operating Activities $141.4M $36.26M
Capital Expenditures $89.40M $9.771M
Free Cash Flow $52.04M $26.49M
YoY Change 96.44% -22.99%

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CY2015Q2 us-gaap Other Receivables
OtherReceivables
24968000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
38647000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
2036000 USD
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
96149000 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
280852000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
46120000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1335000 USD
CY2015Q1 us-gaap Other Assets Current
OtherAssetsCurrent
26538000 USD
CY2015Q2 us-gaap Other Assets Current
OtherAssetsCurrent
24927000 USD
CY2015Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
57005000 USD
CY2014Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2015Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
50009000 USD
CY2014Q2 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2015Q2 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1335000 USD
CY2014Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4703000 USD
CY2015Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7504000 USD
CY2014Q2 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
89060000 USD
CY2015Q2 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
86145000 USD
CY2014Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9771000 USD
CY2015Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
89395000 USD
CY2015Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0.0001
CY2015Q2 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0.0001
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2014Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
7352000 USD
CY2015Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
140000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
883371000 USD
CY2015Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
52169000 USD
CY2015Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
53005000 USD
CY2014Q2 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
10627000 USD
CY2015Q2 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
18386000 USD
CY2014Q2 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
45000 USD
CY2015Q2 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
-8000 USD
CY2014Q2 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
62068000 USD
CY2015Q2 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
100263000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
940070000 USD
CY2014Q2 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
17000 USD
CY2015Q2 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
3000 USD
CY2014Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
87503000 USD
CY2015Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
44586000 USD
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
117210000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-410963000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-408927000 USD
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
316321000 USD
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
673641000 USD
CY2014Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
18890000 USD
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
109645000 USD
CY2014Q2 us-gaap Share Based Compensation
ShareBasedCompensation
9169000 USD
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
48170000 USD
CY2015Q1 us-gaap Short Term Investments
ShortTermInvestments
244830000 USD
CY2015Q2 us-gaap Short Term Investments
ShortTermInvestments
232827000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
6173160000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
6178191000 USD
CY2015Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
one-for-four
CY2015Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
59400000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
58900000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
700000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
200000 USD
CY2015Q2 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1400000 USD
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73659000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
154461000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71564000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
149322000 shares

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