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Subsequent Events
3 Months Ended
Oct. 01, 2011
Subsequent Events [Abstract] 
SUBSEQUENT EVENTS
NOTE 15. SUBSEQUENT EVENTS
In connection with our July 2010 acquisition of Mintera, on October 21, 2011 we paid $0.5 million in cash and issued 0.8 million shares of our common stock valued at $2.8 million to settle the 12 month earnout obligation. See Note 4, Business Combination.
On October 22, 2011, Fabrinet, our primary contract manufacturer, announced that, as a result of the flooding in Thailand, it has suspended operations at two factories located in Chokchai and Pinehurst. Fabrinet manufactures approximately 30 percent of our total finished goods in these factories. Subsequently, on October 24, Fabrinet announced its Chokchai factory suffered extensive flood damage and is now largely inaccessible due to high water levels inside and surrounding the manufacturing facility. Although our management cannot yet quantify the possible impact of the flooding in Thailand on our business, it is likely that the supply disruption will materially and adversely affect our results of operations, including our revenue, for at least the next two fiscal quarters. Our current evaluation is that revenues for the second quarter of fiscal 2012 could be $25 million to $30 million less as a result of this disruption than would otherwise be expected. While we maintain both property and business interruption insurance coverage, there can be no assurance as to the extent or timing of insurance recoveries.
On October 26, 2011, our 2011 Employee Stock Purchase Plan (ESPP) was approved by our stockholders. Under the ESPP, we have reserved 1.7 million shares of our common stock for issuance. The ESPP will be effective on a date determined by our board of directors within 12 months following stockholder approval.