XML 23 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jul. 01, 2017
Jul. 02, 2016
Jun. 27, 2015
Cash flows from operating activities:      
Net income (loss) $ 127,859 $ 8,580 $ (56,692)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 21,544 16,755 18,613
Stock-based compensation expense 11,195 8,201 6,164
Interest make-whole charge and induced conversion expense related to convertible notes 8,463 0 0
Amortization and write-off of debt discount and issuance costs 102 812 305
Release of valuation allowance on deferred tax assets (25,680) 0 0
Amortization of deferred gain on sale-leaseback (743) (842) (914)
(Gain) loss on sale of property and equipment (130) 32 (83)
Gain on sale of Komoro Business 0 0 (8,315)
Adjustment to the hold-backs related to the sales of the Zurich and Amplifier Businesses 0 0 7,650
Other adjustments 0 0 161
Changes in operating assets and liabilities:      
Accounts receivable, net (28,811) (23,409) 138
Inventories (26,997) (11,008) (5,308)
Prepaid expenses and other current assets (17,940) (2,383) 7,996
Other non-current assets (255) 98 (267)
Accounts payable 9,643 9,455 (4,873)
Accrued expenses and other liabilities 9,128 (24) (10,828)
Net cash provided by (used in) operating activities 87,378 6,267 (46,253)
Cash flows from investing activities:      
Purchases of property and equipment (61,893) (27,750) (18,084)
Purchases of short-term investments (69,415) 0 0
Maturities of short-term investments 32,000 0 0
Proceeds from sale of property and equipment 231 0 0
Transfer (to) from restricted cash (1) 2,418 1,793
Proceeds from sale of investments 0 141
Net cash provided by (used in) investing activities (99,078) (25,332) 847
Cash flows from financing activities:      
Proceeds from the exercise of stock options 135,153 0 0
Proceeds from the exercise of stock options 4,873 286 42
Shares repurchased for tax withholdings on vesting of restricted stock units (4,426) (1,641) 0
Payments on capital lease obligations (2,183) (3,151) (4,153)
Proceeds from the sale of convertible notes, net 0 0 60,941
Net cash provided by (used in) financing activities 133,417 (4,506) 56,830
Effect of exchange rate on cash and cash equivalents 1,624 7,660 1,443
Net increase (decrease) in cash and cash equivalents 123,341 (15,911) 12,867
Cash and cash equivalents at beginning of fiscal year 95,929 111,840 98,973
Cash and cash equivalents at end of fiscal year 219,270 95,929 111,840
Supplemental disclosures of cash flow information:      
Cash paid for interest 13,313 3,936 123
Cash paid for income taxes 1,939 334 507
Cash paid for interest make-whole and induced conversion charges related to the exercise of convertible notes 4,700 0 0
Supplemental disclosures of non-cash transactions:      
Issuance of common stock in exchange for the net carrying value of the liability component of convertible notes 62,125 0 0
Purchases of property and equipment funded by accounts payable 10,388 8,176 0
Capital lease obligations incurred for purchases of property and equipment 397 2,390 0
Komoro      
Cash flows from investing activities:      
Proceeds from sale of business 0 0 14,647
Zurich      
Cash flows from investing activities:      
Proceeds from sale of business 0 0 1,410
Amplifier      
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Adjustment to the hold-backs related to the sales of the Zurich and Amplifier Businesses     3,100
Cash flows from investing activities:      
Proceeds from sale of business $ 0 $ 0 $ 940