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THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Tables)
6 Months Ended
Jun. 30, 2015
THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:  
Schedule of revision to prior period financial statements

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30, 2014

 

June 30, 2014

 

 

 

As reported

 

Adjustments

 

As revised

 

As reported

 

Adjustments

 

As revised

 

 

 

(in thousands, except per share data)

 

(in thousands, except per share data)

 

Statement of operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

 

$

102,574

 

$

249

 

$

102,823

 

$

201,279

 

$

546

 

$

201,825

 

Cost of revenues

 

34,292

 

141

 

34,433

 

68,111

 

53

 

68,164

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 

68,282

 

108

 

68,390

 

133,168

 

493

 

133,661

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

49,506

 

 

49,506

 

97,843

 

 

97,843

 

Sales and marketing

 

18,723

 

 

18,723

 

38,002

 

 

38,002

 

General and administrative

 

9,461

 

 

9,461

 

17,676

 

 

17,676

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating expenses

 

77,690

 

 

77,690

 

153,521

 

 

153,521

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

(9,408

)

108

 

(9,300

)

(20,353

)

493

 

(19,860

)

Other income, net

 

357

 

 

357

 

591

 

 

591

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss before taxes on income

 

(9,051

)

108

 

(8,943

)

(19,762

)

493

 

(19,269

)

(Provision for) benefit from taxes on income

 

76

 

 

76

 

(578

)

 

(578

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(8,975

)

$

108

 

$

(8,867

)

$

(20,340

)

$

493

 

$

(19,847

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share —  basic

 

$

(0.20

)

 

$

(0.20

)

$

(0.46

)

$

0.01

 

$

(0.45

)

Net loss per share —  diluted

 

$

(0.20

)

 

$

(0.20

)

$

(0.46

)

$

0.01

 

$

(0.45

)

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30, 2014

 

June 30, 2014

 

 

 

As reported

 

Adjustments

 

As revised

 

As reported

 

Adjustments

 

As revised

 

 

 

(in thousands)

 

(in thousands)

 

Statement of comprehensive loss:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(8,975

)

$

108

 

$

(8,867

)

$

(20,340

)

$

493

 

$

(19,847

)

Total comprehensive loss, net of tax

 

(8,924

)

108

 

(8,816

)

(21,009

)

493

 

(20,516

)

 

 

 

Six Months Ended

 

 

 

June 30, 2014

 

 

 

As reported

 

Adjustments

 

As revised

 

 

 

(in thousands)

 

Statement of cash flows:

 

 

 

 

 

 

 

Net cash provided by operating activities

 

$

17,832

 

$

122

 

$

17,954

 

Net cash provided by financing activities

 

6,548

 

(122

)

6,426

 

 

Schedule of revenues and accounts receivable from customers

 

The following table summarizes the revenues from customers (including original equipment manufacturers) in excess of 10% of the total revenues for the three and six months ended June 30, 2015 and 2014:

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

 

 

2015

 

2014

 

2015

 

2014

 

Hewlett Packard

 

15 

%

 

14 

%

 

IBM

 

*

 

11 

%

*

 

10 

%

Dell

 

*

 

*

 

*

 

11 

%

 

 

* Less than 10%

 

The following table summarizes the accounts receivable balance in excess of 10% of the total accounts receivable for the periods indicated:

 

 

 

June 30,
2015

 

December 31,
2014

 

Hewlett Packard

 

18 

%

17 

%

Hon Hai Precision Ind., Co. Ltd.

 

11 

%

*

 

IBM

 

*

 

11 

%

Ingram Micro

 

*

 

10 

%

 

 

* Less than 10%

 

Schedule of changes in the entity's liability for product warranty

 

 

 

 

Six Months Ended

 

 

 

June 30,

 

 

 

2015

 

2014

 

 

 

(in thousands)

 

Balance, beginning of the period

 

$

1,932

 

$

4,198

 

New warranties issued during the period

 

1,514

 

2,950

 

Reversal of warranty reserves

 

(67

)

(803

)

Settlements during the period

 

(1,572

)

(2,490

)

 

 

 

 

 

 

Balance, end of the period

 

$

1,807

 

$

3,855

 

 

 

 

 

 

 

 

 

Less: long-term portion of product warranty liability

 

(450

)

(400

)

 

 

 

 

 

 

 

 

 

 

 

 

Balance, current portion of product warranty liability at end of the period

 

$

1,357

 

$

3,455

 

 

 

 

 

 

 

 

 

 

Schedule of computation of basic and diluted net income per share

 

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

2015

 

2014

 

2015

 

2014

 

 

 

(in thousands except per share data)

 

Net income (loss)

 

$

19,248

 

$

(8,867

)

$

29,744

 

$

(19,847

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted shares:

 

 

 

 

 

 

 

 

 

Weighted average ordinary shares

 

46,191

 

44,671

 

45,943

 

44,475

 

Dilutive effect of employee stock option

 

1,377

 

 

1,398

 

 

 

 

 

 

 

 

 

 

 

 

Shares used to compute diluted net income

 

47,568

 

44,671

 

47,341

 

44,475

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share —  basic

 

$

0.42

 

$

(0.20

)

$

0.65

 

$

(0.45

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share —  diluted

 

$

0.40

 

$

(0.20

)

$

0.63

 

$

(0.45

)