Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Sep. 30, 2013 | Oct. 25, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 28-Sep-13 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Entity Registrant Name | 'SYNAPTICS INC | ' |
Entity Central Index Key | '0000817720 | ' |
Current Fiscal Year End Date | '--06-28 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 33,090,816 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $331,572 | $355,303 |
Accounts receivable, net of allowances of $883 at September 30, 2013 and June 30, 2013 | 153,939 | 148,454 |
Inventories | 57,293 | 49,948 |
Prepaid expenses and other current assets | 7,212 | 6,715 |
Total current assets | 550,016 | 560,420 |
Property and equipment at cost, net of accumulated depreciation of $38,577 and $35,285 at September 30, 2013 and June 30, 2013, respectively | 61,225 | 58,035 |
Goodwill | 20,695 | 20,695 |
Purchased intangibles | 12,848 | 13,110 |
Non-current investments | 17,536 | 16,969 |
Other assets | 21,648 | 22,037 |
Total assets | 683,968 | 691,266 |
Current Liabilities: | ' | ' |
Accounts payable | 77,955 | 83,710 |
Accrued compensation | 15,074 | 23,728 |
Income taxes payable | 15,098 | 10,751 |
Other accrued liabilities | 34,108 | 31,437 |
Total current liabilities | 142,235 | 149,626 |
Notes payable | 2,305 | 2,305 |
Other liabilities | 17,944 | 17,480 |
Stockholders' Equity: | ' | ' |
Common stock: $0.001 par value; 120,000,000 shares authorized, 51,094,508 and 50,673,758 shares issued, and 32,493,672 and 33,289,826 shares outstanding, at September 30, 2013 and June 30, 2013, respectively | 51 | 51 |
Additional paid-in capital | 553,509 | 539,170 |
Treasury stock: 18,600,836 and 17,383,932 common treasury shares at September 30, 2013 and June 30, 2013, respectively, at cost | -510,157 | -460,160 |
Accumulated other comprehensive income | 7,150 | 6,802 |
Retained earnings | 470,931 | 435,992 |
Total stockholders' equity | 521,484 | 521,855 |
Liabilities and stockholders' equity | $683,968 | $691,266 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Allowance for doubtful accounts receivable | $883 | $883 |
Property and equipment, accumulated depreciation | $38,577 | $35,285 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 120,000,000 | 120,000,000 |
Common stock, shares issued | 51,094,508 | 50,673,758 |
Common stock, shares outstanding | 32,493,672 | 33,289,826 |
Common treasury shares | 18,600,836 | 17,383,932 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement [Abstract] | ' | ' |
Net revenue | $222,607 | $127,041 |
Cost of revenue | 113,328 | 66,471 |
Gross margin | 109,279 | 60,570 |
Operating expenses: | ' | ' |
Research and development | 40,442 | 32,802 |
Selling, general, and administrative | 21,124 | 18,908 |
Acquired intangibles amortization | 262 | 240 |
Change in contingent consideration | 258 | 287 |
Total operating expenses | 62,086 | 52,237 |
Operating income | 47,193 | 8,333 |
Interest income | 211 | 218 |
Non-cash interest income | 219 | ' |
Interest expense | -4 | -4 |
Income before provision for income taxes | 47,619 | 8,547 |
Provision for income taxes | 12,680 | 2,494 |
Net income | $34,939 | $6,053 |
Net income per share: | ' | ' |
Basic | $1.06 | $0.18 |
Diluted | $1 | $0.18 |
Shares used in computing net income per share: | ' | ' |
Basic | 32,958 | 32,941 |
Diluted | 35,020 | 34,014 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' |
Net income | $34,939 | $6,053 |
Other comprehensive income: | ' | ' |
Change in unrealized net gain on investments before reclassifications | 567 | 1,133 |
Accretion of non-current investments | -219 | ' |
Net current-period other comprehensive income | 348 | 1,133 |
Comprehensive income | $35,287 | $7,186 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities | ' | ' |
Net income | $34,939 | $6,053 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Share-based compensation costs | 7,042 | 8,467 |
Depreciation and amortization | 3,244 | 2,462 |
Acquired intangibles amortization | 262 | 240 |
Accretion and remeasurement of contingent consideration liability | 258 | 287 |
Deferred taxes | 188 | -563 |
Non-cash interest income | -219 | ' |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable, net | -5,485 | 6,100 |
Inventories | -7,345 | 1,840 |
Prepaid expenses and other current assets | -497 | -580 |
Other assets | 201 | 908 |
Accounts payable | -2,175 | -4,485 |
Accrued compensation | -8,654 | -971 |
Income taxes | 4,502 | 1,378 |
Other accrued liabilities | 2,659 | 8,478 |
Net cash provided by operating activities | 28,920 | 29,614 |
Cash flows from investing activities | ' | ' |
Proceeds from sales of non-current investments | ' | 2,000 |
Acquisition of business, net of cash acquired | ' | -5,000 |
Purchases of property and equipment | -10,014 | -16,082 |
Net cash used in investing activities | -10,014 | -19,082 |
Cash flows from financing activities | ' | ' |
Purchases of treasury stock | -49,997 | -2,554 |
Proceeds from issuance of shares | 7,713 | 718 |
Excess tax benefit from share-based compensation | 1,329 | ' |
Payroll taxes for deferred stock units | -1,682 | -812 |
Net cash used in financing activities | -42,637 | -2,648 |
Net (decrease) increase in cash and cash equivalents | -23,731 | 7,884 |
Cash and cash equivalents at beginning of period | 355,303 | 305,005 |
Cash and cash equivalents at end of period | 331,572 | 312,889 |
Supplemental disclosures of cash flow information | ' | ' |
Cash paid for income taxes | $6,564 | $1,683 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
1. Basis of Presentation | |
The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission, or the SEC, and U.S. generally accepted accounting principles, or U.S. GAAP. However, certain information or footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such SEC rules and regulations. In our opinion, the financial statements include all adjustments, which are of a normal and recurring nature, necessary for the fair presentation of the results of the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the operating results for the full fiscal year or any future period. These financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2013. | |
The consolidated financial statements include our financial statements and those of our wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated upon consolidation. | |
Our fiscal year is the 52- or 53-week period ending on the last Saturday in June. Our fiscal 2014 and 2013 are 52-week periods ending on June 28, 2014 and June 29, 2013, respectively. The quarterly fiscal periods presented in this report were 13-week periods for the three months ended September 28, 2013 and September 29, 2012. For ease of presentation, the accompanying consolidated financial statements have been shown as ending on calendar quarter end dates for all annual, interim, and quarterly financial statement captions, unless otherwise indicated. | |
Use of Estimates | |
The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, allowance for doubtful accounts, cost of revenue, inventories, loss on purchase commitments, product warranty, share-based compensation costs, provision for income taxes, deferred income tax asset valuation allowances, uncertain tax positions, tax contingencies, goodwill, intangible assets, investments, contingent consideration liability, and loss contingencies. We base our estimates on historical experience, applicable laws and regulations, and various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. | |
Recently Issued Accounting Pronouncements | |
There are no new accounting pronouncements that are expected to have a material impact on our condensed consolidated financial statements. |
Revenue_Recognition
Revenue Recognition | 3 Months Ended |
Sep. 30, 2013 | |
Text Block [Abstract] | ' |
Revenue Recognition | ' |
2. Revenue Recognition | |
We recognize revenue from product sales when there is persuasive evidence that an arrangement exists, delivery has occurred and title has transferred, the price is fixed or determinable, and collection is reasonably assured, which is generally upon shipment of the product. We accrue for estimated sales returns, incentives, and other allowances at the time we recognize revenue. Our products contain embedded firmware and software that allows for further differentiation and customer integration, which together with our ASIC chip, delivers the essential functionality of our products and, as such, software revenue recognition guidance is not applicable. |
Net_Income_Per_Share
Net Income Per Share | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Net Income Per Share | ' | ||||||||
3. Net Income Per Share | |||||||||
The computation of basic and diluted net income per share was as follows (in thousands, except per share data): | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Numerator: | |||||||||
Net income | $ | 34,939 | $ | 6,053 | |||||
Denominator: | |||||||||
Shares, basic | 32,958 | 32,941 | |||||||
Effect of dilutive share-based awards | 2,062 | 1,073 | |||||||
Shares, diluted | 35,020 | 34,014 | |||||||
Net income per share: | |||||||||
Basic | $ | 1.06 | $ | 0.18 | |||||
Diluted | $ | 1 | $ | 0.18 | |||||
Our basic net income per share amounts for each period presented have been computed using the weighted average number of shares of common stock outstanding. Our diluted net income per share amounts for each period presented include the weighted average effect of potentially dilutive shares. We use the “treasury stock” method to determine the dilutive effect of our stock options, deferred stock units, or DSUs, market stock units, or MSUs, and convertible notes. | |||||||||
Dilutive net income per share amounts do not include the weighted average effect of 503,115 and 3,990,394 share-based awards that were outstanding during the three months ended September 30, 2013 and 2012, respectively. These share-based awards were not included in the computation of diluted net income per share because their effect would have been antidilutive. |
Fair_Value
Fair Value | 3 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value | ' | ||||||||||||||||
4. Fair Value | |||||||||||||||||
Financial assets and liabilities measured at fair value on a recurring basis, by level within the fair value hierarchy consisted of the following (in thousands): | |||||||||||||||||
September 30, | June 30, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
Level 1 | Level 3 | Level 1 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Money market | $ | 326,066 | $ | — | $ | 350,521 | $ | — | |||||||||
Auction rate securities | — | 17,536 | — | 16,969 | |||||||||||||
Total available-for-sale securities | $ | 326,066 | $ | 17,536 | $ | 350,521 | $ | 16,969 | |||||||||
Liabilities: | |||||||||||||||||
Contingent consideration liability recorded for business combination | $ | — | $ | 8,505 | $ | — | $ | 8,247 | |||||||||
In our condensed consolidated balance sheets as of September 30, 2013 and June 30, 2013, money market balances are included in cash and cash equivalents; auction rate securities, or ARS investments, are included in non-current investments. The contingent consideration liability recorded for a business combination is included in other liabilities; of which $8.3 million and $8.1 million is included in the non-current portion of other liabilities as of September 30, 2013 and June 30, 2013, respectively, and $196,000 has been included in other current liabilities as of both periods. | |||||||||||||||||
Changes in fair value of our Level 3 financial assets as of September 30, 2013 were as follows (in thousands): | |||||||||||||||||
Balance as of June 30, 2013 | $ | 16,969 | |||||||||||||||
Net unrealized gain | 567 | ||||||||||||||||
Balance as of September 30, 2013 | $ | 17,536 | |||||||||||||||
Changes in fair value of our Level 3 contingent consideration liability as of September 30, 2013 were as follows (in thousands): | |||||||||||||||||
Balance as of June 30, 2013 | $ | 8,247 | |||||||||||||||
Accretion and remeasurement | 258 | ||||||||||||||||
Balance as of September 30, 2013 | $ | 8,505 | |||||||||||||||
In connection with the acquisition of Pacinian in June 2012, we entered into a contingent consideration arrangement, and subsequently paid $5.0 million of additional consideration to the former Pacinian stockholders upon customer acceptance of a ThinTouch product. As of September 30, 2013, we may owe up to $10.0 million of additional consideration to the former Pacinian stockholders based on sales of products utilizing ThinTouch technology through June 2016. | |||||||||||||||||
There were no transfers in or out of our Level 1 or 3 assets or liabilities during the three months ended September 30, 2013. | |||||||||||||||||
The fair values of our accounts receivable and accounts payable approximate their carrying values because of the short-term nature of those instruments. The fair value of our notes payable approximates their carrying value in all material respects. Intangible assets, property and equipment, and goodwill are measured at fair value on a non-recurring basis if impairment is indicated. |
Auction_Rate_Securities
Auction Rate Securities | 3 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||
Auction Rate Securities | ' | ||||||||||||||||||||
5. Auction Rate Securities | |||||||||||||||||||||
Our ARS investments have failed to settle in auctions and are not liquid. In the event we need to access these funds prior to their maturity, we will not be able to do so without a loss of principal, unless redeemed by the issuers or a future auction on these investments is successful. During the three months ended September 30, 2013, none of our ARS investments were redeemed. | |||||||||||||||||||||
As there are currently no active markets for our various failed ARS investments, we have estimated the fair value as of September 30, 2013 using a trinomial discounted cash flow analysis. The analysis considered, among others, the following factors: | |||||||||||||||||||||
• | the collateral underlying the security investments; | ||||||||||||||||||||
• | the creditworthiness of the counterparty; | ||||||||||||||||||||
• | the timing of expected future cash flows; | ||||||||||||||||||||
• | the probability of a successful auction in a future period; | ||||||||||||||||||||
• | the underlying structure of each investment; | ||||||||||||||||||||
• | the present value of future principal and interest payments discounted at rates considered to reflect current market conditions; | ||||||||||||||||||||
• | a consideration of the probabilities of default, passing a future auction, or redemption at par for each period; and | ||||||||||||||||||||
• | estimates of the recovery rates in the event of default for each investment. | ||||||||||||||||||||
When possible, our failed ARS investments were compared to other observable market data or securities with similar characteristics. Our estimate of the fair value of our ARS investments could change materially from period to period based on future market conditions. | |||||||||||||||||||||
Contractual maturities for our ARS investments are generally greater than five years, with fair value of $12.4 million maturing from calendar years 2015 to 2017, $3.1 million maturing from calendar years 2043 to 2045, and $2.0 million having no maturity date. Of our ARS investments, $5.5 million par value are investment grade, and the remaining $18.5 million par value are below investment grade. | |||||||||||||||||||||
The various types of ARS investments we held as of September 30, 2013, including the original cost basis, other-than-temporary impairment included in retained earnings, new cost basis, unrealized gain/(loss), and fair value, consisted of the following (in thousands): | |||||||||||||||||||||
Other-than- | |||||||||||||||||||||
temporary | |||||||||||||||||||||
Original Cost | Impairment in | New Cost | Unrealized | Fair | |||||||||||||||||
Basis | Retained Earnings | Basis | Gain/(Loss) | Value | |||||||||||||||||
Student loans | $ | 3,500 | $ | (179 | ) | $ | 3,321 | $ | (172 | ) | $ | 3,149 | |||||||||
Credit linked notes | 13,500 | (8,352 | )(1) | 5,148 | 5,318 | 10,466 | |||||||||||||||
Preferred stock | 5,000 | (5,000 | ) | — | 2,000 | 2,000 | |||||||||||||||
Municipals | 2,000 | (83 | ) | 1,917 | 4 | 1,921 | |||||||||||||||
Total ARS | $ | 24,000 | $ | (13,614 | ) | $ | 10,386 | $ | 7,150 | $ | 17,536 | ||||||||||
-1 | Other-than-temporary impairment in retained earnings is partially offset by cumulative accretion of $415,000 on non-current investments. Accretion is reclassified from accumulated other comprehensive income and recorded in the condensed consolidated statements of income as non-cash interest income. | ||||||||||||||||||||
The various types of ARS investments we held as of June 30, 2013, including the original cost basis, other-than-temporary impairment included in retained earnings, new cost basis, unrealized gain/(loss), and fair value, consisted of the following (in thousands): | |||||||||||||||||||||
Other-than- | |||||||||||||||||||||
temporary | |||||||||||||||||||||
Original Cost | Impairment in | New Cost | Unrealized | Fair | |||||||||||||||||
Basis | Retained Earnings | Basis | Gain/(Loss) | Value | |||||||||||||||||
Student loans | $ | 3,500 | $ | (179 | ) | $ | 3,321 | $ | (168 | ) | $ | 3,153 | |||||||||
Credit linked notes | 13,500 | (8,571 | )(1) | 4,929 | 4,980 | 9,909 | |||||||||||||||
Preferred stock | 5,000 | (5,000 | ) | — | 2,000 | 2,000 | |||||||||||||||
Municipals | 2,000 | (83 | ) | 1,917 | (10 | ) | 1,907 | ||||||||||||||
Total ARS | $ | 24,000 | $ | (13,833 | ) | $ | 10,167 | $ | 6,802 | $ | 16,969 | ||||||||||
-1 | Other-than-temporary impairment in retained earnings is partially offset by cumulative accretion of $196,000 on non-current investments. Accretion is reclassified from accumulated other comprehensive income and recorded in the condensed consolidated statements of income as non-cash interest income. | ||||||||||||||||||||
The ARS investments in each of the above tables with unrealized losses have been in a continuous unrealized loss position for more than 12 months. | |||||||||||||||||||||
We have accounted for all of our ARS investments as non-current as we are not able to reasonably determine when the ARS markets will recover or be restructured. Based on our ability to access our cash and cash equivalents, our expected operating cash flows, and our other sources of cash, we do not intend to sell the investments, and it is not more likely than not that we will be required to sell the investments before the recovery of the amortized cost basis. We will continue to monitor our ARS investments and evaluate our accounting for these investments quarterly. | |||||||||||||||||||||
Inventories
Inventories | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
6. Inventories | |||||||||
Inventories are stated at the lower of cost (first-in, first-out method) or market (estimated net realizable value) and consisted of the following (in thousands): | |||||||||
September 30, | June 30, | ||||||||
2013 | 2013 | ||||||||
Raw materials | $ | 46,868 | $ | 38,181 | |||||
Finished goods | 10,425 | 11,767 | |||||||
$ | 57,293 | $ | 49,948 | ||||||
Other_Accrued_Liabilities
Other Accrued Liabilities | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Other Accrued Liabilities | ' | ||||||||
7. Other Accrued Liabilities | |||||||||
Other accrued liabilities consisted of the following (in thousands): | |||||||||
September 30, | June 30, | ||||||||
2013 | 2013 | ||||||||
Customer obligations | $ | 16,910 | $ | 16,291 | |||||
Inventory obligations | 6,463 | 6,333 | |||||||
Warranty | 1,514 | 1,696 | |||||||
Other | 9,221 | 7,117 | |||||||
$ | 34,108 | $ | 31,437 | ||||||
Product_Warranties_Indemnifica
Product Warranties, Indemnifications, and Contingencies | 3 Months Ended |
Sep. 30, 2013 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Product Warranties, Indemnifications, and Contingencies | ' |
8. Product Warranties, Indemnifications, and Contingencies | |
Product Warranties | |
We generally warrant our products for a period of 12 months from the date of sale and estimate probable product warranty costs at the time we recognize revenue. Factors that affect our warranty liability include historical and anticipated rates of warranty claims, materials usage, rework, and delivery costs. However, we assess the adequacy of our warranty obligations each reporting period and adjust the accrued warranty liability on the basis of our estimates. | |
Indemnifications | |
In connection with certain third-party agreements we have executed in the past, we are obligated to indemnify the third party in connection with any technology infringement by us. We have also entered into indemnification agreements with our officers and directors. Maximum potential future payments cannot be estimated because these agreements do not have a maximum stated liability. However, historical costs related to these indemnification provisions have not been significant. We have not recorded any liability in our consolidated financial statements for such indemnification obligations. | |
Contingencies | |
We have in the past and may in the future receive notices from third parties that claim our products infringe their intellectual property rights. We cannot be certain that our technologies and products do not or will not infringe issued patents or other proprietary rights of third parties. | |
Any infringement claims, with or without merit, could result in significant litigation costs and diversion of management and financial resources, including the payment of damages, which could have a material adverse effect on our business, financial condition, and results of operations. |
ShareBased_Compensation
Share-Based Compensation | 3 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||
Share-Based Compensation | ' | ||||||||||||
9. Share-Based Compensation | |||||||||||||
Share-based compensation and the related tax benefit recognized in our condensed consolidated statements of income were as follows (in thousands): | |||||||||||||
Three Months Ended | |||||||||||||
September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
Cost of revenue | $ | 254 | $ | 243 | |||||||||
Research and development | 3,927 | 3,911 | |||||||||||
Selling, general, and administrative | 2,861 | 4,313 | |||||||||||
Total | $ | 7,042 | $ | 8,467 | |||||||||
Income tax benefit on share-based compensation | $ | 1,972 | $ | 2,218 | |||||||||
Historically, we have issued new shares in connection with our share-based compensation plans; however, treasury shares were also available for issuance as of September 30, 2013, including shares repurchased under our common stock repurchase program. | |||||||||||||
Stock Options | |||||||||||||
Stock option activity, including stock options granted, exercised, and forfeited, and weighted average exercise prices for options outstanding and exercisable, and the aggregate intrinsic value were as follows: | |||||||||||||
Stock | Weighted | Aggregate | |||||||||||
Option | Average | Intrinsic | |||||||||||
Awards | Exercise | Value | |||||||||||
Outstanding | Price | (in thousands) | |||||||||||
Balance at June 30, 2013 | 6,030,287 | $ | 26.15 | ||||||||||
Granted | 124,535 | 39.8 | |||||||||||
Exercised | (337,079 | ) | 22.88 | ||||||||||
Forfeited | (27,327 | ) | 30.9 | ||||||||||
Balance at September 30, 2013 | 5,790,416 | 26.61 | $ | 97,903 | |||||||||
Exercisable at September 30, 2013 | 4,431,991 | $ | 25.49 | $ | 79,895 | ||||||||
The aggregate intrinsic value was determined using the closing price of our common stock on September 27, 2013 of $43.52, and excludes the impact of stock options that were not in-the-money. | |||||||||||||
Deferred Stock Units | |||||||||||||
DSU activity, including DSUs granted, delivered, and forfeited, and the balance and aggregate intrinsic value of DSUs were as follows: | |||||||||||||
DSU Awards | Aggregate | ||||||||||||
Outstanding | Intrinsic | ||||||||||||
Value | |||||||||||||
(in thousands) | |||||||||||||
Balance at June 30, 2013 | 1,005,435 | ||||||||||||
Granted | 62,943 | ||||||||||||
Delivered | (125,765 | ) | |||||||||||
Forfeited | (26,734 | ) | |||||||||||
Balance at September 30, 2013 | 915,879 | $ | 39,859 | ||||||||||
The aggregate intrinsic value was determined using the closing price of our common stock on September 27, 2013 of $43.52. | |||||||||||||
Of the shares delivered, 42,094 shares valued at $1.7 million were withheld to meet statutory minimum tax withholding requirements. | |||||||||||||
Market Stock Units | |||||||||||||
Our Amended and Restated 2010 Incentive Compensation Plan provides for the grant of MSU awards, which are a type of DSU award, to our employees, consultants, and directors. An MSU is a promise to deliver shares of our common stock at a future date based on the achievement of market-based performance requirements in accordance with the terms of the MSU grant agreement. We began granting MSUs in November 2012. | |||||||||||||
In November 2012, we granted MSUs to our executive officers, which were designed to vest in three tranches with the target quantity for each tranche equal to one-third of the total MSU grant. The first tranche vests based on a one-year performance period; the second tranche vests based on a two-year performance period; and the third tranche vests based on a three-year performance period. Performance is measured based on the achievement of a specified level of total stockholder return, or TSR, relative to the TSR of the Philadelphia Semiconductor Index, or SOX Index. The potential payout ranges from 0% to 200% of the grant target quantity and is adjusted on a two-to-one ratio based on our TSR performance relative to the SOX Index TSR performance using the following formula: | |||||||||||||
(100% + ([Synaptics TSR - SOX Index TSR] x 2)) | |||||||||||||
Delivery of shares earned, if any, will take place on the dates provided in the applicable MSU grant agreement, assuming the grantee is still an employee, consultant, or director of our company at the end of the applicable performance period. On the delivery date, we withhold shares to cover statutory minimum tax withholding by delivering a net quantity of shares. Until delivery of shares, the grantee has no rights as a stockholder with respect to any shares underlying the MSU award. | |||||||||||||
During the three months ended September 30, 2013, there were no MSUs granted and there were no shares under our MSU awards delivered or forfeited. We valued the MSUs using the Monte Carlo simulation model and amortize the compensation expense over the three-year performance and service period. The weighted average grant date fair value for the MSUs granted was $25.82. The unrecognized share-based compensation cost for MSUs granted was approximately $1.3 million as of September 30, 2013, which will be recognized over a weighted average period of approximately 1.0 years. As of September 30, 2013, the aggregate intrinsic value of the MSUs was $2.9 million (assuming a 100% payout factor), which was determined using the closing price of our common stock on September 27, 2013 of $43.52. |
Income_Taxes
Income Taxes | 3 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
10. Income Taxes | |
We account for income taxes under the asset and liability method. We consider the operating earnings of our foreign subsidiaries to be indefinitely invested outside the United States. Accordingly, no provision has been made for the federal, state, or foreign taxes that may result from future remittances of undistributed earnings of our foreign subsidiaries. | |
The provision for income taxes of $12.7 million and $2.5 million for the three months ended September 30, 2013 and 2012, respectively, represented estimated federal, foreign, and state income taxes. The effective tax rate for the three months ended September 30, 2013 was 26.6% and diverged from the combined federal and state statutory rate primarily because of foreign income taxed at lower tax rates and the federal research credit, partially offset by foreign withholding taxes, and net unrecognized tax benefits associated with qualified stock options. The effective tax rate for the three months ended September 30, 2012 was 29.2% and diverged from the combined federal and state statutory rate primarily because of foreign income taxed at lower tax rates, partially offset by foreign withholding taxes, net unrecognized tax benefit associated with qualified stock options, and a slight increase in the liability for unrecognized tax benefits related to uncertain tax positions. | |
Unrecognized Tax Benefits | |
The total liability for gross unrecognized tax benefits increased $146,000 during the three months ended September 30, 2013 to $8.4 million from $8.2 million at June 30, 2013 and is included in other liabilities on our condensed consolidated balance sheets. All of this amount would affect the effective tax rate on income from continuing operations, if recognized. The balance of interest and penalties accrued related to unrecognized tax benefits as of September 30, 2013 was $918,000 and increased by $5,000 from June 30, 2013. We classify interest and penalties as components of income tax expense. | |
In May 2011, we were notified by the Internal Revenue Service (Service) that our fiscal 2003 through 2006 and fiscal 2008 through 2010 would be subject to examination. The early periods were being audited in connection with a mandatory review of tax refunds in excess of $2.0 million when we carried back our fiscal 2008 net operating loss. In March 2013, we received the Revenue Agent’s Report resolving our examination with the Service and paid an assessment that had no material impact to our condensed consolidated financial statements. Our case is pending review by the Joint Committee of Taxation, which we anticipate to conclude in our fiscal 2014. Any prospective adjustments to our unrecognized tax benefits will be recorded as an increase or decrease to income tax expense and cause a corresponding change to our effective tax rate. Accordingly, our effective tax rate could fluctuate materially from period to period. | |
On January 2, 2013, President Barack Obama signed into law The American Taxpayer Relief Act of 2013 (The Act). The Act extends the research credit for two years retroactively from January 1, 2012 through December 31, 2013. As such, we will only recognize six months of tax benefit in our current fiscal year. | |
Our major tax jurisdictions are the United States, California, and Hong Kong SAR, and fiscal 2003 onward remain subject to examination by one or more of these jurisdictions. |
Segment_Customers_and_Geograph
Segment, Customers, and Geographic Information | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Segment Reporting [Abstract] | ' | ||||||||
Segment, Customers, and Geographic Information | ' | ||||||||
11. Segment, Customers, and Geographic Information | |||||||||
We operate in one segment: the development, marketing, and sale of interactive user interface solutions for electronic devices and products. We generate our revenue from two broad product categories: the mobile product market and the personal computing, or PC, market. The mobile product market accounted for 73% and 51% of net revenue for the three months ended September 30, 2013 and 2012, respectively. | |||||||||
Net revenue within geographic areas based on our customers’ locations for the periods presented was as follows (in thousands): | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
China | $ | 107,366 | $ | 84,910 | |||||
South Korea | 69,158 | 6,372 | |||||||
Taiwan | 32,300 | 15,892 | |||||||
Japan | 12,079 | 13,781 | |||||||
United States | 495 | 5,005 | |||||||
Other | 1,209 | 1,081 | |||||||
$ | 222,607 | $ | 127,041 | ||||||
Net revenue from external customers for each group of similar products was as follows (in thousands): | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Mobile product applications | $ | 162,664 | $ | 64,616 | |||||
PC product applications | 59,943 | 62,425 | |||||||
$ | 222,607 | $ | 127,041 | ||||||
Net revenue from major customers as a percentage of total net revenue for the periods presented was as follows: | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Customer A | 22 | % | * | ||||||
Customer B | 10 | % | * | ||||||
* | Less than 10% | ||||||||
We sell our products primarily to contract manufacturers that provide manufacturing services to original equipment manufacturers, or OEMs. We extend credit based on an evaluation of a customer’s financial condition, and we generally do not require collateral. Major customer accounts receivable as a percentage of total accounts receivable at the dates presented were as follows: | |||||||||
September 30, | June 30, | ||||||||
2013 | 2013 | ||||||||
Customer A | 26 | % | 27 | % | |||||
Customer B | 12 | % | * | ||||||
* | Less than 10% |
Comprehensive_Income
Comprehensive Income | 3 Months Ended |
Sep. 30, 2013 | |
Equity [Abstract] | ' |
Comprehensive Income | ' |
12. Comprehensive Income | |
Our comprehensive income generally consists of net income plus the effect of unrealized gains and losses on our investments, primarily due to temporary changes in market value of certain of our ARS investments. In addition, we recognize the noncredit portion of other-than-temporary impairment on debt securities in other comprehensive income. We recognize foreign currency remeasurement adjustments and transaction gains and losses in our condensed consolidated statements of income as the U.S. dollar is the functional currency of our foreign entities. |
Purchased_Intangibles
Purchased Intangibles | 3 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||
Purchased Intangibles | ' | ||||||||||
13. Purchased Intangibles | |||||||||||
The following table summarizes the life, the gross carrying value of our purchased intangible assets, and the related accumulated amortization as of September 30, 2013 and June 30, 2013 (in thousands): | |||||||||||
September 30, | June 30, | ||||||||||
Life | 2013 | 2013 | |||||||||
In-process research and development | To be determined | $ | 8,900 | $ | 8,900 | ||||||
Customer relationships | 5 years | 3,800 | 3,800 | ||||||||
Licensed technology and other | 5 years | 1,335 | 1,335 | ||||||||
Patents | 5 years | 100 | 100 | ||||||||
14,135 | 14,135 | ||||||||||
Accumulated amortization | (1,287 | ) | (1,025 | ) | |||||||
Purchased intangibles, net | $ | 12,848 | $ | 13,110 | |||||||
Amortization of the purchased intangibles commenced in fiscal 2013. The total amortization expense for the purchased intangible assets was $262,000 and $240,000 for the three ended September 30, 2013, and 2012, respectively. This amortization expense was included in our condensed consolidated statements of income as acquired intangibles amortization. | |||||||||||
The following table presents expected annual aggregate amortization expense as of September 30, 2013 (in thousands): | |||||||||||
Remainder of 2014 | $ | 785 | |||||||||
2015 | 1,047 | ||||||||||
2016 | 1,047 | ||||||||||
2017 | 1,047 | ||||||||||
2018 | 22 | ||||||||||
To be determined | 8,900 | ||||||||||
Future amortization | $ | 12,848 | |||||||||
Subsequent_Event
Subsequent Event | 3 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Event | ' |
14. Subsequent Event | |
On October 9, 2013, we signed a definitive agreement to acquire a privately held company, Validity Sensors, Inc., or Validity, a leading provider of biometric fingerprint authentication solutions for smartphones, tablets, and notebooks. The transaction has been approved by our board of directors and Validity’s board of directors and is subject to customary closing conditions. There are no financing contingencies related to the acquisition. The transaction is expected to close in the second quarter of fiscal 2014. With this acquisition we expect to gain access to the fast growing biometrics market, significantly expanding our market opportunity and underscoring our commitment to making smart devices easier to use. The acquisition is expected to be completed by acquiring all capital stock and other vested and unvested equity interests of Validity for an aggregate base purchase price of $92.5 million. In addition, we may become obligated to make earn-out consideration payments of up to an additional $162.5 million, which is based primarily on sales, during certain time periods, ending on March 31, 2016, of certain products embodying Validity fingerprint sensor technology. The earn-out consideration will generally be payable in cash, but there are certain conditions that require payout of a portion of the earn-out consideration, if any, in our common stock. Pursuant to the merger agreement we expect to create a merger sub wholly owned by us that will be merged with and into Validity, with Validity surviving as our wholly owned subsidiary, and as part of the same overall transaction, Validity will then merge with and into another merger sub wholly owned by us, with such other merger sub surviving such merger as our wholly owned subsidiary. Pursuant to the Merger, the Company incurred approximately $1.0 million in direct acquisition costs during the September quarter which were expensed as incurred. | |
The acquisition will be accounted for using the purchase method of accounting in accordance with the business acquisition guidance. Under the purchase accounting method, the total estimated purchase consideration of the acquisition will be allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their relative fair values. The excess of the purchase consideration over the net tangible and identifiable intangible assets acquired and liabilities will be recorded as goodwill. | |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 3 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Use of Estimates | ' |
Use of Estimates | |
The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, allowance for doubtful accounts, cost of revenue, inventories, loss on purchase commitments, product warranty, share-based compensation costs, provision for income taxes, deferred income tax asset valuation allowances, uncertain tax positions, tax contingencies, goodwill, intangible assets, investments, contingent consideration liability, and loss contingencies. We base our estimates on historical experience, applicable laws and regulations, and various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. | |
Recently Issued Accounting Pronouncements | ' |
Recently Issued Accounting Pronouncements | |
There are no new accounting pronouncements that are expected to have a material impact on our condensed consolidated financial statements. |
Net_Income_Per_Share_Tables
Net Income Per Share (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Basic and Diluted Net Income Per Share | ' | ||||||||
The computation of basic and diluted net income per share was as follows (in thousands, except per share data): | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Numerator: | |||||||||
Net income | $ | 34,939 | $ | 6,053 | |||||
Denominator: | |||||||||
Shares, basic | 32,958 | 32,941 | |||||||
Effect of dilutive share-based awards | 2,062 | 1,073 | |||||||
Shares, diluted | 35,020 | 34,014 | |||||||
Net income per share: | |||||||||
Basic | $ | 1.06 | $ | 0.18 | |||||
Diluted | $ | 1 | $ | 0.18 | |||||
Fair_Value_Tables
Fair Value (Tables) | 3 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
Financial assets and liabilities measured at fair value on a recurring basis, by level within the fair value hierarchy consisted of the following (in thousands): | |||||||||||||||||
September 30, | June 30, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
Level 1 | Level 3 | Level 1 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Money market | $ | 326,066 | $ | — | $ | 350,521 | $ | — | |||||||||
Auction rate securities | — | 17,536 | — | 16,969 | |||||||||||||
Total available-for-sale securities | $ | 326,066 | $ | 17,536 | $ | 350,521 | $ | 16,969 | |||||||||
Liabilities: | |||||||||||||||||
Contingent consideration liability recorded for business combination | $ | — | $ | 8,505 | $ | — | $ | 8,247 | |||||||||
Changes in Fair Value of Level 3 Financial Assets | ' | ||||||||||||||||
Changes in fair value of our Level 3 financial assets as of September 30, 2013 were as follows (in thousands): | |||||||||||||||||
Balance as of June 30, 2013 | $ | 16,969 | |||||||||||||||
Net unrealized gain | 567 | ||||||||||||||||
Balance as of September 30, 2013 | $ | 17,536 | |||||||||||||||
Changes in Fair Value of Level 3 Contingent Consideration Liability | ' | ||||||||||||||||
Changes in fair value of our Level 3 contingent consideration liability as of September 30, 2013 were as follows (in thousands): | |||||||||||||||||
Balance as of June 30, 2013 | $ | 8,247 | |||||||||||||||
Accretion and remeasurement | 258 | ||||||||||||||||
Balance as of September 30, 2013 | $ | 8,505 | |||||||||||||||
Auction_Rate_Securities_Tables
Auction Rate Securities (Tables) | 3 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||
ARS Investments | ' | ||||||||||||||||||||
The various types of ARS investments we held as of September 30, 2013, including the original cost basis, other-than-temporary impairment included in retained earnings, new cost basis, unrealized gain/(loss), and fair value, consisted of the following (in thousands): | |||||||||||||||||||||
Other-than- | |||||||||||||||||||||
temporary | |||||||||||||||||||||
Original Cost | Impairment in | New Cost | Unrealized | Fair | |||||||||||||||||
Basis | Retained Earnings | Basis | Gain/(Loss) | Value | |||||||||||||||||
Student loans | $ | 3,500 | $ | (179 | ) | $ | 3,321 | $ | (172 | ) | $ | 3,149 | |||||||||
Credit linked notes | 13,500 | (8,352 | )(1) | 5,148 | 5,318 | 10,466 | |||||||||||||||
Preferred stock | 5,000 | (5,000 | ) | — | 2,000 | 2,000 | |||||||||||||||
Municipals | 2,000 | (83 | ) | 1,917 | 4 | 1,921 | |||||||||||||||
Total ARS | $ | 24,000 | $ | (13,614 | ) | $ | 10,386 | $ | 7,150 | $ | 17,536 | ||||||||||
-1 | Other-than-temporary impairment in retained earnings is partially offset by cumulative accretion of $415,000 on non-current investments. Accretion is reclassified from accumulated other comprehensive income and recorded in the condensed consolidated statements of income as non-cash interest income. | ||||||||||||||||||||
The various types of ARS investments we held as of June 30, 2013, including the original cost basis, other-than-temporary impairment included in retained earnings, new cost basis, unrealized gain/(loss), and fair value, consisted of the following (in thousands): | |||||||||||||||||||||
Other-than- | |||||||||||||||||||||
temporary | |||||||||||||||||||||
Original Cost | Impairment in | New Cost | Unrealized | Fair | |||||||||||||||||
Basis | Retained Earnings | Basis | Gain/(Loss) | Value | |||||||||||||||||
Student loans | $ | 3,500 | $ | (179 | ) | $ | 3,321 | $ | (168 | ) | $ | 3,153 | |||||||||
Credit linked notes | 13,500 | (8,571 | )(1) | 4,929 | 4,980 | 9,909 | |||||||||||||||
Preferred stock | 5,000 | (5,000 | ) | — | 2,000 | 2,000 | |||||||||||||||
Municipals | 2,000 | (83 | ) | 1,917 | (10 | ) | 1,907 | ||||||||||||||
Total ARS | $ | 24,000 | $ | (13,833 | ) | $ | 10,167 | $ | 6,802 | $ | 16,969 | ||||||||||
-1 | Other-than-temporary impairment in retained earnings is partially offset by cumulative accretion of $196,000 on non-current investments. Accretion is reclassified from accumulated other comprehensive income and recorded in the condensed consolidated statements of income as non-cash interest income. |
Inventories_Tables
Inventories (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
Inventories are stated at the lower of cost (first-in, first-out method) or market (estimated net realizable value) and consisted of the following (in thousands): | |||||||||
September 30, | June 30, | ||||||||
2013 | 2013 | ||||||||
Raw materials | $ | 46,868 | $ | 38,181 | |||||
Finished goods | 10,425 | 11,767 | |||||||
$ | 57,293 | $ | 49,948 | ||||||
Other_Accrued_Liabilities_Tabl
Other Accrued Liabilities (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Other Accrued Liabilities | ' | ||||||||
Other accrued liabilities consisted of the following (in thousands): | |||||||||
September 30, | June 30, | ||||||||
2013 | 2013 | ||||||||
Customer obligations | $ | 16,910 | $ | 16,291 | |||||
Inventory obligations | 6,463 | 6,333 | |||||||
Warranty | 1,514 | 1,696 | |||||||
Other | 9,221 | 7,117 | |||||||
$ | 34,108 | $ | 31,437 |
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 3 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||
Share-Based Compensation and Related Tax Benefit Recognized in Consolidated Statements of Income | ' | ||||||||||||
Share-based compensation and the related tax benefit recognized in our condensed consolidated statements of income were as follows (in thousands): | |||||||||||||
Three Months Ended | |||||||||||||
September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
Cost of revenue | $ | 254 | $ | 243 | |||||||||
Research and development | 3,927 | 3,911 | |||||||||||
Selling, general, and administrative | 2,861 | 4,313 | |||||||||||
Total | $ | 7,042 | $ | 8,467 | |||||||||
Income tax benefit on share-based compensation | $ | 1,972 | $ | 2,218 | |||||||||
Balance of Outstanding and Exercisable Stock Options | ' | ||||||||||||
Stock option activity, including stock options granted, exercised, and forfeited, and weighted average exercise prices for options outstanding and exercisable, and the aggregate intrinsic value were as follows: | |||||||||||||
Stock | Weighted | Aggregate | |||||||||||
Option | Average | Intrinsic | |||||||||||
Awards | Exercise | Value | |||||||||||
Outstanding | Price | (in thousands) | |||||||||||
Balance at June 30, 2013 | 6,030,287 | $ | 26.15 | ||||||||||
Granted | 124,535 | 39.8 | |||||||||||
Exercised | (337,079 | ) | 22.88 | ||||||||||
Forfeited | (27,327 | ) | 30.9 | ||||||||||
Balance at September 30, 2013 | 5,790,416 | 26.61 | $ | 97,903 | |||||||||
Exercisable at September 30, 2013 | 4,431,991 | $ | 25.49 | $ | 79,895 | ||||||||
Balance and Aggregate Intrinsic Value of DSUs | ' | ||||||||||||
DSU activity, including DSUs granted, delivered, and forfeited, and the balance and aggregate intrinsic value of DSUs were as follows: | |||||||||||||
DSU Awards | Aggregate | ||||||||||||
Outstanding | Intrinsic | ||||||||||||
Value | |||||||||||||
(in thousands) | |||||||||||||
Balance at June 30, 2013 | 1,005,435 | ||||||||||||
Granted | 62,943 | ||||||||||||
Delivered | (125,765 | ) | |||||||||||
Forfeited | (26,734 | ) | |||||||||||
Balance at September 30, 2013 | 915,879 | $ | 39,859 | ||||||||||
Segment_Customers_and_Geograph1
Segment, Customers, and Geographic Information (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Segment Reporting [Abstract] | ' | ||||||||
Net Revenue within Geographic Areas Based on Customers' Locations | ' | ||||||||
Net revenue within geographic areas based on our customers’ locations for the periods presented was as follows (in thousands): | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
China | $ | 107,366 | $ | 84,910 | |||||
South Korea | 69,158 | 6,372 | |||||||
Taiwan | 32,300 | 15,892 | |||||||
Japan | 12,079 | 13,781 | |||||||
United States | 495 | 5,005 | |||||||
Other | 1,209 | 1,081 | |||||||
$ | 222,607 | $ | 127,041 | ||||||
Net Revenue from External Customers | ' | ||||||||
Net revenue from external customers for each group of similar products was as follows (in thousands): | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Mobile product applications | $ | 162,664 | $ | 64,616 | |||||
PC product applications | 59,943 | 62,425 | |||||||
$ | 222,607 | $ | 127,041 | ||||||
Major Customers' as Percentage of Net Revenue | ' | ||||||||
Net revenue from major customers as a percentage of total net revenue for the periods presented was as follows: | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Customer A | 22 | % | * | ||||||
Customer B | 10 | % | * | ||||||
* | Less than 10% | ||||||||
Major Customer Accounts Receivable as Percentage of Accounts Receivable | ' | ||||||||
Major customer accounts receivable as a percentage of total accounts receivable at the dates presented were as follows: | |||||||||
September 30, | June 30, | ||||||||
2013 | 2013 | ||||||||
Customer A | 26 | % | 27 | % | |||||
Customer B | 12 | % | * | ||||||
* | Less than 10% |
Purchased_Intangibles_Tables
Purchased Intangibles (Tables) | 3 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||
Summary of Life, Gross Carrying Value of Purchased Intangible Assets, and Related Accumulated Amortization | ' | ||||||||||
The following table summarizes the life, the gross carrying value of our purchased intangible assets, and the related accumulated amortization as of September 30, 2013 and June 30, 2013 (in thousands): | |||||||||||
September 30, | June 30, | ||||||||||
Life | 2013 | 2013 | |||||||||
In-process research and development | To be determined | $ | 8,900 | $ | 8,900 | ||||||
Customer relationships | 5 years | 3,800 | 3,800 | ||||||||
Licensed technology and other | 5 years | 1,335 | 1,335 | ||||||||
Patents | 5 years | 100 | 100 | ||||||||
14,135 | 14,135 | ||||||||||
Accumulated amortization | (1,287 | ) | (1,025 | ) | |||||||
Purchased intangibles, net | $ | 12,848 | $ | 13,110 | |||||||
Schedule of Expected Annual Aggregate Amortization Expense | ' | ||||||||||
The following table presents expected annual aggregate amortization expense as of September 30, 2013 (in thousands): | |||||||||||
Remainder of 2014 | $ | 785 | |||||||||
2015 | 1,047 | ||||||||||
2016 | 1,047 | ||||||||||
2017 | 1,047 | ||||||||||
2018 | 22 | ||||||||||
To be determined | 8,900 | ||||||||||
Future amortization | $ | 12,848 | |||||||||
Net_Income_Per_Share_Basic_and
Net Income Per Share - Basic and Diluted Net Income Per Share (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Numerator: | ' | ' |
Net income | $34,939 | $6,053 |
Denominator: | ' | ' |
Shares, basic | 32,958 | 32,941 |
Effect of dilutive share-based awards | 2,062 | 1,073 |
Shares, diluted | 35,020 | 34,014 |
Net income per share: | ' | ' |
Basic | $1.06 | $0.18 |
Diluted | $1 | $0.18 |
Net_Income_Per_Share_Additiona
Net Income Per Share - Additional Information (Detail) (Stock Compensation Plan [Member]) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Stock Compensation Plan [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Share-based awards | 503,115 | 3,990,394 |
Fair_Value_Financial_Assets_an
Fair Value - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
Auction Rate Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total available-for-sale securities | $17,536,000 | $16,969,000 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total available-for-sale securities | 326,066,000 | 350,521,000 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Money Market [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total available-for-sale securities | 326,066,000 | 350,521,000 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total available-for-sale securities | 17,536,000 | 16,969,000 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Auction Rate Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total available-for-sale securities | 17,536,000 | 16,969,000 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Contingent Consideration Liability Recorded for Business Combination [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Contingent consideration liability business combination fair value | $8,505,000 | $8,247,000 |
Fair_Value_Changes_in_Fair_Val
Fair Value - Changes in Fair Value of Level 3 Financial Assets (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Fair Value Disclosures [Abstract] | ' |
Beginning balance | $16,969 |
Net unrealized gain | 567 |
Ending balance | $17,536 |
Fair_Value_Changes_in_Fair_Val1
Fair Value - Changes in Fair Value of Level 3 Contingent Consideration Liability (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Fair Value Disclosures [Abstract] | ' |
Beginning balance | $8,247 |
Accretion and remeasurement | 258 |
Ending balance | $8,505 |
Fair_Value_Additional_Informat
Fair Value - Additional Information (Detail) (USD $) | 3 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | |
Contingent Consideration Liability Recorded for Business Combination [Member] | Contingent Consideration Liability Recorded for Business Combination [Member] | Contingent Consideration Liability Recorded for Business Combination [Member] | Contingent Consideration Liability Recorded for Business Combination [Member] | ||
Other Noncurrent Liabilities [Member] | Other Noncurrent Liabilities [Member] | Other Current Liabilities [Member] | Other Current Liabilities [Member] | ||
Fair Value Disclosures [Line Items] | ' | ' | ' | ' | ' |
Contingent consideration liability business combination fair value | ' | $8,300,000 | $8,100,000 | $196,000 | $196,000 |
Settlement of contingent consideration liability | 5,000,000 | ' | ' | ' | ' |
Additional consideration paid to former stockholders based on sales of products, due | 10,000,000 | ' | ' | ' | ' |
Transfer amount of assets or liabilities of level three | 0 | ' | ' | ' | ' |
Transfer amount of assets or liabilities of level one | $0 | ' | ' | ' | ' |
Auction_Rate_Securities_Additi
Auction Rate Securities - Additional Information (Detail) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' |
Contractual maturities of ARS investment | 'Greater than five years |
Auction Rate Securities with fair value maturing from 2015 to 2017 | $12.40 |
Auction Rate Securities with fair value maturing from 2043 to 2045 | 3.1 |
Auction rate securities with fair value having no stated maturity | 2 |
ARS investments, investment grade | 5.5 |
ARS investments, below investment grade | 18.5 |
Minimum [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Maturity period one | '2015 |
Maturity period two | '2043 |
Maximum [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Maturity period one | '2017 |
Maturity period two | '2045 |
Auction Rate Securities [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
ARS investments redeemed at par | $0 |
Auction_Rate_Securities_ARS_In
Auction Rate Securities - ARS Investments (Detail) (Auction Rate Securities [Member], USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Original Cost Basis | $24,000 | $24,000 |
Other-than- temporary Impairment in Retained Earnings | -13,614 | -13,833 |
New Cost Basis | 10,386 | 10,167 |
Unrealized Gain/(Loss) | 7,150 | 6,802 |
Fair Value | 17,536 | 16,969 |
Student Loans [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Original Cost Basis | 3,500 | 3,500 |
Other-than- temporary Impairment in Retained Earnings | -179 | -179 |
New Cost Basis | 3,321 | 3,321 |
Unrealized Gain/(Loss) | -172 | -168 |
Fair Value | 3,149 | 3,153 |
Credit Linked Notes [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Original Cost Basis | 13,500 | 13,500 |
Other-than- temporary Impairment in Retained Earnings | -8,352 | -8,571 |
New Cost Basis | 5,148 | 4,929 |
Unrealized Gain/(Loss) | 5,318 | 4,980 |
Fair Value | 10,466 | 9,909 |
Preferred Stock [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Original Cost Basis | 5,000 | 5,000 |
Other-than- temporary Impairment in Retained Earnings | -5,000 | -5,000 |
New Cost Basis | ' | ' |
Unrealized Gain/(Loss) | 2,000 | 2,000 |
Fair Value | 2,000 | 2,000 |
Municipals [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Original Cost Basis | 2,000 | 2,000 |
Other-than- temporary Impairment in Retained Earnings | -83 | -83 |
New Cost Basis | 1,917 | 1,917 |
Unrealized Gain/(Loss) | 4 | -10 |
Fair Value | $1,921 | $1,907 |
Auction_Rate_Securities_ARS_In1
Auction Rate Securities - ARS Investments (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' |
Investment securities accretion | $415,000 | $196,000 |
Inventories_Inventories_Detail
Inventories - Inventories (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials | $46,868 | $38,181 |
Finished goods | 10,425 | 11,767 |
Total Inventories | $57,293 | $49,948 |
Other_Accrued_Liabilities_Othe
Other Accrued Liabilities - Other Accrued Liabilities (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Payables And Accruals [Abstract] | ' | ' |
Customer obligations | $16,910 | $16,291 |
Inventory obligations | 6,463 | 6,333 |
Warranty | 1,514 | 1,696 |
Other | 9,221 | 7,117 |
Other accrued liabilities | $34,108 | $31,437 |
Product_Warranties_Indemnifica1
Product Warranties, Indemnifications, and Contingencies - Additional Information (Detail) | 3 Months Ended |
Sep. 30, 2013 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Minimum warranty period of products | '12 months |
ShareBased_Compensation_ShareB
Share-Based Compensation - Share-Based Compensation and Related Tax Benefit Recognized in Consolidated Statement of Income (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Total | $7,042 | $8,467 |
Income tax benefit on share-based compensation | 1,972 | 2,218 |
Cost of Revenue [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Total | 254 | 243 |
Research and Development [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Total | 3,927 | 3,911 |
Selling, General, and Administrative [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Total | $2,861 | $4,313 |
ShareBased_Compensation_Balanc
Share-Based Compensation - Balance of Outstanding and Exercisable Stock Options (Detail) (USD $) | 3 Months Ended |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Stock Option Awards Outstanding, Balance at June 30, 2013 | 6,030,287 |
Stock Option Awards Outstanding, Granted | 124,535 |
Stock Option Awards Outstanding, Exercised | -337,079 |
Stock Option Awards Outstanding, Forfeited | -27,327 |
Stock Option Awards Outstanding, Balance at September 30, 2013 | 5,790,416 |
Stock Option Awards Outstanding, Exercisable at September 30, 2013 | 4,431,991 |
Weighted Average Exercise Price, Balance at June 30, 2013 | $26.15 |
Weighted Average Exercise Price, Granted | $39.80 |
Weighted Average Exercise Price, Exercised | $22.88 |
Weighted Average Exercise Price, Forfeited | $30.90 |
Weighted Average Exercise Price, Balance at September 30, 2013 | $26.61 |
Weighted Average Exercise Price, Exercisable at September 30, 2013 | $25.49 |
Aggregate Intrinsic Value of Stock Option Awards, Balance at September 30, 2013 | $97,903 |
Aggregate Intrinsic Value of Stock Option Awards, Exercisable at September 30, 2013 | $79,895 |
ShareBased_Compensation_Stock_
Share-Based Compensation - Stock Options - Additional Information (Detail) (Stock Options [Member], USD $) | Sep. 27, 2013 |
Stock Options [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Aggregate intrinsic value of stock option outstanding calculated using the closing price of common stock | $43.52 |
ShareBased_Compensation_Balanc1
Share-Based Compensation - Balance and Aggregate Intrinsic Value of DSUs (Detail) (Deferred Stock Units [Member], USD $) | 3 Months Ended |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 |
Deferred Stock Units [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Stock Unit Awards Outstanding, Balance at June 30, 2013 | 1,005,435 |
Stock Unit Awards, Granted | 62,943 |
Stock Unit Awards, Delivered | -125,765 |
Stock Unit Awards, Forfeited | -26,734 |
Stock Unit Awards Outstanding, Balance at September 30, 2013 | 915,879 |
Aggregate Intrinsic Value, Balance at September 30, 2013 | $39,859 |
ShareBased_Compensation_Deferr
Share-Based Compensation - Deferred Stock Units - Additional Information (Detail) (Deferred Stock Units [Member], USD $) | 3 Months Ended | |
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 27, 2013 |
Deferred Stock Units [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Aggregate intrinsic value of stock option outstanding calculated using the closing price of common stock | ' | $43.52 |
Shares withheld to meet statutory minimum tax withholding requirements | 42,094 | ' |
Shares valued withheld to meet statutory minimum tax withholding requirements | $1.70 | ' |
ShareBased_Compensation_Market
Share-Based Compensation - Market Stock Units - Additional Information (Detail) (Market Stock Units [Member], USD $) | 1 Months Ended | 3 Months Ended |
In Millions, except Share data, unless otherwise specified | Nov. 30, 2012 | Sep. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Vesting period, tranche one | '1 year | ' |
Vesting period, tranche two | '2 years | ' |
Vesting period, tranche three | '3 years | ' |
Potential payout range | ' | 100.00% |
Potential payout adjustment ratio | 2 | ' |
Number of MSUs granted | ' | 0 |
Shares under our MSU awards delivered | ' | 0 |
Shares under our MSU awards forfeited | ' | 0 |
Weighted average grant date fair value for the MSUs granted | ' | $25.82 |
Unrecognized share-based compensation cost | ' | $1.30 |
Unrecognized share-based compensation, period for recognition | ' | '1 year |
Aggregate intrinsic value of MSUs | ' | $2.90 |
Aggregate intrinsic value of stock option outstanding calculated using the closing price of common stock | ' | $43.52 |
Minimum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Potential payout range | 0.00% | ' |
Maximum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Potential payout range | 200.00% | ' |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Provision for income taxes | $12,680,000 | $2,494,000 | ' |
Effective tax rate | 26.60% | 29.20% | ' |
Gross unrecognized tax benefits | 8,400,000 | ' | 8,200,000 |
Gross unrecognized tax benefits increased during the year | 146,000 | ' | ' |
Interest and penalties accrued related to unrecognized tax benefits | 918,000 | ' | ' |
Increase in interest and penalties accrued related to unrecognized tax benefits | 5,000 | ' | ' |
Minimum amount of tax refunds subject to mandatory review | $2,000,000 | ' | ' |
Extension period of federal research credit | '2 years | ' | ' |
Segment_Customers_and_Geograph2
Segment, Customers, and Geographic Information - Additional Information (Detail) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Product | ||
Segment | ||
Segment Reporting [Abstract] | ' | ' |
Number of segment | 1 | ' |
Number of product | 2 | ' |
Percentage from mobile product market in net revenue | 73.00% | 51.00% |
Segment_Customers_and_Geograph3
Segment, Customers, and Geographic Information - Net Revenue within Geographic Areas Based on Customers' Locations (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Net revenue | $222,607 | $127,041 |
China [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Net revenue | 107,366 | 84,910 |
South Korea [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Net revenue | 69,158 | 6,372 |
Taiwan [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Net revenue | 32,300 | 15,892 |
Japan [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Net revenue | 12,079 | 13,781 |
United States [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Net revenue | 495 | 5,005 |
Other [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Net revenue | $1,209 | $1,081 |
Segment_Customers_and_Geograph4
Segment, Customers, and Geographic Information - Net Revenue from External Customers (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue from External Customer [Line Items] | ' | ' |
Net revenue | $222,607 | $127,041 |
Mobile Product Applications [Member] | ' | ' |
Revenue from External Customer [Line Items] | ' | ' |
Net revenue | 162,664 | 64,616 |
PC Product Applications [Member] | ' | ' |
Revenue from External Customer [Line Items] | ' | ' |
Net revenue | $59,943 | $62,425 |
Segment_Customers_and_Geograph5
Segment, Customers, and Geographic Information - Major Customers' as Percentage of Net Revenue (Detail) (Sales Revenue, Net [Member]) | 3 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | |
Customer A [Member] | Customer B [Member] | Maximum [Member] | Maximum [Member] | |
Customer A [Member] | Customer B [Member] | |||
Revenue, Major Customer [Line Items] | ' | ' | ' | ' |
Percentage of net revenue | 22.00% | 10.00% | 10.00% | 10.00% |
Segment_Customers_and_Geograph6
Segment, Customers, and Geographic Information - Major Customer Accounts Receivable as Percentage of Accounts Receivable (Detail) (Accounts Receivable [Member]) | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | |
Customer A [Member] | Customer B [Member] | Maximum [Member] | Maximum [Member] | |
Customer A [Member] | Customer B [Member] | |||
Accounts Receivable By Major Customers [Line Items] | ' | ' | ' | ' |
Percentage of net revenue | 26.00% | 12.00% | 27.00% | 10.00% |
Purchased_Intangibles_Summary_
Purchased Intangibles - Summary of Life, Gross Carrying Value of Purchased Intangible Assets, and Related Accumulated Amortization (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets | $14,135 | $14,135 |
Accumulated amortization | -1,287 | -1,025 |
Future amortization | 12,848 | 13,110 |
In-process Research and Development [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets | 8,900 | 8,900 |
Customer Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Useful Life | '5 years | ' |
Intangible assets | 3,800 | 3,800 |
Licensed Technology and Other [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Useful Life | '5 years | ' |
Intangible assets | 1,335 | 1,335 |
Patents [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Useful Life | '5 years | ' |
Intangible assets | $100 | $100 |
Purchased_Intangibles_Addition
Purchased Intangibles - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
Total amortization expense for intangible assets | $262 | $240 |
Purchased_Intangibles_Schedule
Purchased Intangibles - Schedule of Expected Annual Aggregate Amortization Expense (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
Remainder of 2014 | $785 | ' |
2015 | 1,047 | ' |
2016 | 1,047 | ' |
2017 | 1,047 | ' |
2018 | 22 | ' |
To be determined | 8,900 | ' |
Future amortization | $12,848 | $13,110 |
Subsequent_Event_Additional_In
Subsequent Event - Additional Information (Detail) (Validity Sensors, Inc [Member], Subsequent Event [Member], USD $) | 0 Months Ended |
In Millions, unless otherwise specified | Oct. 09, 2013 |
Validity Sensors, Inc [Member] | Subsequent Event [Member] | ' |
Subsequent Event [Line Items] | ' |
Aggregate base purchase price | $92.50 |
Consideration payments | 162.5 |
Acquisition cost | $1 |