Gigamon Inc.
CIK:0001484504|SEC Filings
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | |||||
|---|---|---|---|---|---|---|---|
Sep. 30, 2017 |
Oct. 01, 2016 |
Sep. 30, 2017 |
Oct. 01, 2016 |
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| Revenue: | |||||||
| Product | $ 51,861 | $ 59,835 | $ 139,063 | $ 155,805 | |||
| Service | 27,330 | 23,677 | 78,832 | 70,021 | |||
| Total revenue | 79,191 | 83,512 | 217,895 | 225,826 | |||
| Cost of revenue: | |||||||
| Product | 11,401 | 12,197 | 32,429 | 34,414 | |||
| Service | 3,049 | 2,141 | 8,649 | 6,562 | |||
| Total cost of revenue | 14,450 | 14,338 | 41,078 | 40,976 | |||
| Gross profit | 64,741 | 69,174 | 176,817 | 184,850 | |||
| Operating expenses: | |||||||
| Research and development | 18,783 | 18,306 | 59,451 | 50,914 | |||
| Sales and marketing | 34,914 | 31,994 | 105,247 | 88,494 | |||
| General and administrative | 10,697 | 8,887 | 30,033 | 26,029 | |||
| Total operating expenses | 64,394 | 59,187 | 194,731 | 165,437 | |||
| Income (loss) from operations | 347 | 9,987 | (17,914) | 19,413 | |||
| Interest income | 541 | 235 | 1,374 | 661 | |||
| Other expense, net | (241) | (144) | (433) | (386) | |||
| Income (loss) before income tax benefit | 647 | 10,078 | (16,973) | 19,688 | |||
| Income tax benefit (provision) | 1,531 | (3,999) | 9,576 | 23,321 | |||
| Net income (loss) | $ 2,178 | $ 6,079 | $ (7,397) | $ 43,009 | [1] | ||
| Net income (loss) per share: | |||||||
| Basic (in dollars per share) | $ 0.06 | $ 0.17 | $ (0.20) | $ 1.22 | |||
| Diluted (in dollars per share) | $ 0.06 | $ 0.16 | $ (0.20) | $ 1.15 | |||
| Weighted average shares used in computing net income (loss) per share: | |||||||
| Basic (in shares) | 37,196 | 35,770 | 36,885 | 35,171 | |||
| Diluted (in shares) | 39,574 | 38,113 | 36,885 | 37,341 | |||
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Condensed Consolidated Balance Sheets - USD ($) $ in Thousands |
Sep. 30, 2017 |
Dec. 31, 2016 |
|---|---|---|
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 173,182 | $ 148,926 |
| Short-term investments | 91,380 | 109,238 |
| Accounts receivable, net of allowance for doubtful accounts and sales returns of $960 and $979, as of September 30, 2017 and December 31, 2016, respectively | 71,741 | 75,522 |
| Inventories | 15,472 | 11,347 |
| Prepaid expenses and other current assets | 12,048 | 9,909 |
| Total current assets | 363,823 | 354,942 |
| Property and equipment, net | 20,735 | 11,809 |
| Deferred tax assets, net | 50,734 | 33,094 |
| Other assets, non-current | 1,103 | 1,154 |
| TOTAL ASSETS | 436,395 | 400,999 |
| CURRENT LIABILITIES: | ||
| Accounts payable | 5,585 | 5,208 |
| Accrued liabilities | 26,897 | 34,649 |
| Deferred revenue | 69,960 | 68,997 |
| Total current liabilities | 102,442 | 108,854 |
| Deferred revenue, non-current | 32,126 | 28,785 |
| Deferred and other tax liabilities, non-current | 553 | 201 |
| Other liabilities, non-current | 933 | 499 |
| TOTAL LIABILITIES | 136,054 | 138,339 |
| Commitments and Contingencies (Note 5) | ||
| STOCKHOLDERS’ EQUITY | ||
| Preferred stock—$0.0001 par value; 20,000 shares authorized, no shares issued or outstanding as of September 30, 2017 and December 31, 2016, respectively. | 0 | 0 |
| Common stock—$0.0001 par value; 1,000,000 shares authorized, 37,309 and 36,303 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively. | 4 | 4 |
| Additional paid-in capital | 298,400 | 256,774 |
| Accumulated other comprehensive income (loss) | (75) | (17) |
| Retained earnings (accumulated deficit) | 2,012 | 5,899 |
| TOTAL STOCKHOLDERS’ EQUITY | 300,341 | 262,660 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 436,395 | $ 400,999 |