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Operating Segment Information
6 Months Ended
Dec. 29, 2013
Segment Reporting [Abstract]  
Operating Segment Information
Operating Segment Information
Emulex has two reportable business segments, Connectivity (formerly referred to as Networking) and Visibility. The Visibility segment was formed as a result of the acquisition of Endace on February 26, 2013. The Connectivity segment includes the operating results of Network Connectivity Products (NCP) and Storage Connectivity and Other Products (SCOP). The Visibility segment includes the operating results of Network Visibility Products (NVP) resulting from the Endace acquisition.
The chief operating decision maker measures the performance of each of these segments based on adjusted operating results. The operating results of each segment are adjusted for certain expenses and reflect an additional way of viewing aspects of the Company's operations, factors and trends. However, these measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with accounting principles generally accepted in the United States.
 
 
Three Months Ended
 
Six Months Ended
 
December 29, 2013
 
December 30, 2012
 
December 29, 2013
 
December 30, 2012
 
(in thousands)
Net revenues:
 
 
 
 
 
 
 
Connectivity
$
113,348

 
$
122,145

 
$
218,083

 
$
241,412

Visibility
9,648

 

 
19,745

 

Consolidated net revenues
$
122,996

 
$
122,145

 
$
237,828

 
$
241,412

 
 
 
 
 
 
 
 
Adjusted operating (loss) income:
 
 
 
 
 
 
 
Connectivity
22,143

 
20,221

 
36,860

 
40,658

Visibility
(1,488
)
 

 
(2,732
)
 

Subtotal
20,655

 
20,221

 
34,128

 
40,658

Reconciling items:
 
 
 
 
 
 
 
Stock-based compensation
(3,744
)
 
(5,375
)
 
(8,316
)
 
(10,929
)
Amortization of intangibles
(7,842
)
 
(6,514
)
 
(15,606
)
 
(13,185
)
Patent litigation damages, license fees and royalties
(2,358
)
 
(958
)
 
(3,855
)
 
(1,950
)
Mitigation expenses related to the Broadcom patents
(930
)
 
(982
)
 
(3,449
)
 
(1,464
)
Restructuring activities
(7,450
)
 

 
(7,450
)
 

Other
80

 
(2,060
)
 
(293
)
 
(2,060
)
Reconciling items
(22,244
)
 
(15,889
)
 
(38,969
)
 
(29,588
)
Operating (loss) income
(1,589
)
 
4,332

 
(4,841
)
 
11,070

 
 
 
 
 
 
 
 
 
 
 
 
 
December 29, 2013
 
June 30, 2013
 
 
 
(in thousands)
Total assets:
 
 
 
 
 
 
 
Connectivity


 


 
$
634,973

 
$
549,443

Visibility


 


 
155,432

 
161,266

 


 


 
$
790,405

 
$
710,709

Goodwill:
 
 
 
 
 
 
 
Connectivity


 


 
$
177,290

 
$
177,290

Visibility


 


 
71,229

 
71,229

 


 


 
$
248,519

 
$
248,519