| Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash Flows from Operating Activities: | |||||||||
Net income | |||||||||
322,694 | 196,290 | 257,506 | 213,616 | 129,663 | 176,937 | 80,490 | 102,589 | 49,727 | -5,456 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Depreciation and amortization | |||||||||
7,556 | 7,310 | 7,103 | 6,037 | 4,971 | 2,819 | 1,963 | 602 | 213 | 144 |
Amortization of debt issuance costs | |||||||||
1,114 | 751 | 256 | 257 | - | - | - | - | - | - |
Premium amortization and (discount accretion), net | |||||||||
-696 | 0 | 0 | - | - | - | - | - | - | - |
Write off unamortized debt issuance costs | |||||||||
0 | 489 | 0 | 0 | - | - | - | - | - | - |
Provision for inventory obsolescence | |||||||||
1,637 | 2,336 | 2,479 | 747 | 2,288 | 3,295 | 850 | 195 | 198 | 560 |
Provision for loss on vendor deposits and purchase commitments | |||||||||
2,911 | 14,891 | -1,096 | -973 | 5,827 | 0 | 0 | - | - | - |
Loss on disposal of fixed assets | |||||||||
- | - | - | - | - | - | - | 0 | 0 | - |
Write-off of intangible assets | |||||||||
- | - | - | - | - | - | - | 0 | - | - |
Revaluation of warrants to fair value | |||||||||
- | - | - | - | - | - | - | - | - | 456 |
Accrued interest on loan from stockholder | |||||||||
- | - | - | - | - | - | - | - | - | 3 |
Provisions for doubtful accounts | |||||||||
- | - | - | - | - | - | - | 815 | -200 | 800 |
Stock-based compensation | |||||||||
2,890 | 3,208 | 2,785 | 3,719 | 4,992 | 4,906 | 3,376 | 1,493 | 952 | 281 |
Write-off of software development costs | |||||||||
- | - | - | 2,505 | 0 | 0 | - | - | - | - |
Deferred taxes | |||||||||
196 | 2,027 | -938 | -1,145 | -911 | -2,087 | -377 | -897 | -1,163 | -645 |
Excess tax benefit from employee stock-based awards | |||||||||
- | - | - | 1,004 | 2,079 | 5,908 | 2,323 | 13,794 | 0 | -228 |
Other, net | |||||||||
725 | 849 | -1,081 | -823 | -1,526 | 74 | 1,246 | - | - | - |
Changes in operating assets and liabilities: | |||||||||
Accounts receivable | |||||||||
-18,728 | 33,973 | 58,164 | 16,685 | 11,339 | 18,329 | -38,664 | 36,648 | 5,864 | 29,542 |
Inventories | |||||||||
163,659 | -35,974 | 86,988 | 20,012 | -7,030 | 33,764 | 8,996 | 2,266 | 1,058 | 4,082 |
Vendor deposits | |||||||||
-27,705 | -4,798 | 22,730 | 9,285 | 0 | 0 | - | - | - | - |
Deferred cost of revenues | |||||||||
- | - | - | - | -1,279 | 94 | 1,185 | -881 | -5,023 | 5,904 |
Prepaid income taxes | |||||||||
23 | -2,419 | 2,120 | -2,267 | -690 | 3,256 | 0 | 0 | - | - |
Prepaid expenses and other assets | |||||||||
15,812 | 9,404 | 3,061 | -190 | 21,969 | 9,644 | 1,858 | -3,660 | 715 | 1,039 |
Accounts payable | |||||||||
24,329 | -34,596 | -2,554 | 7,720 | 9,735 | -2,326 | 9,725 | 11,692 | 9,077 | 3,926 |
Income taxes payable | |||||||||
16,318 | 103,769 | 5,041 | 4,777 | 5,152 | 7,150 | 6,645 | 9,539 | 1,292 | 1,567 |
Deferred revenues | |||||||||
9,079 | 4,941 | 3,649 | 709 | -1,678 | 1,989 | 2,396 | -929 | -5,833 | 10,108 |
Accrued and other liabilities | |||||||||
5,016 | 31,666 | 9,787 | 3,245 | -630 | -4,609 | 521 | 4,856 | 11,193 | 3,984 |
Net cash provided by operating activities | |||||||||
259,258 | 332,047 | 112,036 | 197,508 | 134,547 | 121,327 | 131,891 | 81,788 | 62,842 | -25,985 |
Cash Flows from Investing Activities: | |||||||||
Purchase of property and equipment and other long-term assets | |||||||||
9,684 | 9,115 | 7,232 | 6,248 | 12,724 | 4,045 | 5,363 | 3,310 | 479 | 615 |
Private equity investment | |||||||||
5,000 | 0 | 0 | - | - | - | - | - | - | - |
Deposits on aircraft | |||||||||
42,000 | 0 | 0 | - | - | - | - | - | - | - |
Purchase of investments | |||||||||
220,076 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from sale of investments | |||||||||
80,889 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from maturities of investments | |||||||||
38,304 | 0 | 0 | - | - | - | - | - | - | - |
Net cash provided by (used in) investing activities | |||||||||
-157,567 | -9,115 | -7,232 | -6,248 | -12,724 | -4,045 | -5,363 | -3,310 | -479 | -615 |
Cash Flows from Financing Activities: | |||||||||
Proceeds from borrowing | |||||||||
- | - | - | - | 0 | 0 | - | 0 | 0 | - |
Debt Issuance Costs | |||||||||
0 | 5,186 | 0 | 0 | 100,000 | 72,254 | 50,833 | - | - | - |
Repurchase and cancellation of stock options | |||||||||
- | - | - | - | - | - | - | - | - | 2,316 |
Repurchases of common stock | |||||||||
468,225 | 445,014 | 105,229 | 193,517 | 34,712 | 0 | 54,354 | 0 | 9,648 | 512 |
Repayments of term loan | |||||||||
- | - | - | - | 74,754 | 76,250 | 4,333 | 5,250 | 0 | - |
Proceeds from borrowings under credit agreement | |||||||||
- | - | - | - | - | - | - | 0 | - | - |
Proceeds from term loan, net | |||||||||
- | - | - | - | - | - | - | 34,813 | 0 | - |
Payments on credit facilities | |||||||||
- | - | - | - | 0 | 0 | - | 0 | - | - |
Payment of common stock cash dividends | |||||||||
71,358 | 0 | 0 | - | 15,020 | 0 | 15,652 | 0 | 0 | - |
Repurchase of Series A convertible preferred stock | |||||||||
- | - | - | - | - | - | - | 108,000 | 0 | - |
Issuance of convertible subordinated promissory notes | |||||||||
- | - | - | - | - | - | - | 68,000 | 0 | - |
Payment of convertible subordinated promissory notes | |||||||||
- | - | - | - | - | - | - | 68,000 | 0 | - |
Proceeds from shares issued in initial public offering, net of offering costs | |||||||||
- | - | - | - | - | - | - | 32,443 | 0 | - |
Proceeds from exercise of stock options | |||||||||
800 | 1,500 | 1,400 | 1,106 | 1,686 | 2,090 | 635 | 811 | 0 | - |
Proceeds from issuance of Series A preferred stock and warrants, net of issuance costs | |||||||||
- | - | - | - | - | - | - | - | - | 99,500 |
Payment of deemed dividend on Series A convertible preferred stock | |||||||||
- | - | - | - | - | - | - | - | 3,002 | - |
Tax withholdings related to net share settlements of stock options | |||||||||
0 | 40,623 | 0 | 0 | - | - | - | - | - | - |
Tax withholdings related to net share settlements of restricted stock units | |||||||||
1,473 | 1,415 | 1,594 | 1,004 | 2,079 | 5,908 | 2,323 | 13,794 | 0 | 228 |
Tax withholdings related to net share settlements of restricted stock units | |||||||||
- | - | - | 1,223 | 1,798 | 2,013 | 214 | 1,390 | 0 | - |
Payment of deferred offering costs | |||||||||
- | - | - | - | - | - | - | - | 1,767 | 124 |
Repayment of notes receivable from stockholders | |||||||||
- | - | - | - | - | - | - | - | - | 56 |
Net cash (used in) financing activities | |||||||||
-530,225 | -260,449 | -51,637 | -86,630 | -22,519 | 1,989 | -20,762 | -32,779 | -14,417 | 41,341 |
Net (decrease) in cash and cash equivalents | |||||||||
-428,534 | 62,483 | 53,167 | 104,630 | 99,304 | 119,271 | 105,766 | 45,699 | 47,946 | 14,741 |
Supplemental Disclosure of Cash Flow Information: | |||||||||
Income taxes paid, net of refunds | |||||||||
41,725 | 9,605 | 25,743 | 18,531 | 12,797 | 14,007 | 4,095 | 6,211 | 12,141 | 9,944 |
Conversion of preferred stock into common stock in conjunction with initial public offering | |||||||||
- | - | - | - | - | - | - | 150,278 | 0 | - |
Interest paid | |||||||||
23,348 | 11,377 | 5,194 | 2,351 | 1,290 | 1,650 | 1,699 | 689 | 0 | - |
Non-Cash Investing and Financing Activities: | |||||||||
Unpaid stock repurchases | |||||||||
2,223 | 0 | 0 | 6,483 | 0 | 0 | - | - | - | - |
Unpaid property and equipment and other long-term assets | |||||||||
440 | 144 | 458 | 406 | 0 | 0 | - | - | - | - |
Net unsettled investment purchases (sales and maturities) | |||||||||
522 | 0 | 0 | - | - | - | - | - | - | - |
Term loan facility | |||||||||
Proceeds from borrowing | |||||||||
0 | 500,000 | 0 | - | - | - | - | - | - | - |
Repayments of debt | |||||||||
25,000 | 88,750 | 11,250 | - | - | - | - | - | - | - |
Revolving credit facility | |||||||||
Proceeds from borrowing | |||||||||
35,000 | 218,500 | 99,000 | - | - | - | - | - | - | - |
Repayments of debt | |||||||||
0 | 399,500 | 34,000 | - | - | - | - | - | - | - |