ALPHA & OMEGA SEMICONDUCTOR LTD, 10-Q filed on 5/7/2015
Quarterly Report
Document and Entity Information
9 Months Ended
Mar. 31, 2015
Apr. 30, 2015
Document and Entity Information [Abstract]
 
 
Entity Registrant Name
ALPHA & OMEGA SEMICONDUCTOR Ltd 
 
Entity Central Index Key
0001387467 
 
Current Fiscal Year End Date
--06-30 
 
Entity Filer Category
Accelerated Filer 
 
Document Type
10-Q 
 
Document Period End Date
Mar. 31, 2015 
 
Document Fiscal Year Focus
2015 
 
Document Fiscal Period Focus
Q3 
 
Amendment Flag
false 
 
Entity Common Stock, Shares Outstanding
 
26,343,613 
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Jun. 30, 2014
Current assets:
 
 
Cash and cash equivalents
$ 112,931 
$ 117,788 
Restricted cash
245 
244 
Accounts receivable, net
31,141 
36,535 
Inventories
66,311 
66,560 
Deferred income tax assets
2,931 
2,842 
Other current assets
3,433 
3,810 
Total current assets
216,992 
227,779 
Property, plant and equipment, net
115,817 
123,254 
Intangible assets, net
17 
229 
Goodwill
269 
269 
Deferred income tax assets - long term
10,938 
10,854 
Other long-term assets
3,281 
1,963 
Total assets
347,314 
364,348 
Current liabilities:
 
 
Short term debt
6,429 
13,821 
Accounts payable
34,396 
38,760 
Accrued liabilities
17,675 
17,376 
Income taxes payable
1,821 
1,933 
Deferred margin
699 
665 
Capital leases
978 
1,061 
Total current liabilities
61,998 
73,616 
Income taxes payable - long term
1,622 
2,315 
Deferred income tax liabilities
3,551 
3,234 
Capital leases - long term
299 
1,005 
Other long term liabilities
1,004 
1,143 
Total liabilities
68,474 
81,313 
Commitments and contingencies (Note 9)
   
   
Preferred shares, par value $0.002 per share:
 
 
Authorized: 10,000 shares, issued and outstanding: none at March 31, 2015 and June 30, 2014
0 
0 
Common shares, par value $0.002 per share:
 
 
Authorized: 50,000 shares, issued and outstanding: 27,090 shares and 26,309 shares, respectively at March 31, 2015 and 26,644 shares and 26,304 shares, respectively at June 30, 2014
54 
53 
Treasury shares at cost, 781 shares at March 31, 2015 and 340 shares at June 30, 2014
(6,759)
(2,889)
Additional paid-in capital
178,820 
174,084 
Accumulated other comprehensive income
915 
1,033 
Retained earnings
105,810 
110,754 
Total shareholders’ equity
278,840 
283,035 
Total liabilities and shareholders’ equity
$ 347,314 
$ 364,348 
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
Mar. 31, 2015
Jun. 30, 2014
Common shares, par value (in dollars per share)
$ 0.002 
$ 0.002 
Common shares, authorized (in shares)
50,000,000 
50,000,000 
Common stock, shares issued (in shares)
27,090,000 
26,644,000 
Common stock, shares outstanding (in shares)
26,309,000 
26,304,000 
Preferred stock, par value (in dollars per share)
$ 0.002 
$ 0.002 
Preferred stock, shares authorized (in shares)
10,000,000 
10,000,000 
Preferred stock, shares issued (in shares)
0 
0 
Preferred stock, shares outstanding (in shares)
0 
0 
Treasury shares (in shares)
781,000 
340,000 
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
Mar. 31, 2014
Revenue
$ 76,918 
$ 75,405 
$ 246,463 
$ 235,791 
Cost of goods sold
64,154 
63,095 
200,297 
192,711 
Gross profit
12,764 
12,310 
46,166 
43,080 
Operating expenses
 
 
 
 
Research and development
6,929 
5,977 
20,155 
17,796 
Selling, general and administrative
9,219 
9,256 
27,958 
25,505 
Total operating expenses
16,148 
15,233 
48,113 
43,301 
Operating loss
(3,384)
(2,923)
(1,947)
(221)
Interest income and other, net
18 
52 
92 
90 
Interest expense
(41)
(62)
(157)
(210)
Loss before income taxes
(3,407)
(2,933)
(2,012)
(341)
Income tax expense
698 
361 
2,826 
2,486 
Net loss
$ (4,105)
$ (3,294)
$ (4,838)
$ (2,827)
Net loss per share
 
 
 
 
Basic (in dollars per share)
$ (0.16)
$ (0.13)
$ (0.18)
$ (0.11)
Diluted (in dollars per share)
$ (0.16)
$ (0.13)
$ (0.18)
$ (0.11)
Weighted average number of common shares used to compute net loss per share
 
 
 
 
Basic (in shares)
26,447 
26,067 
26,469 
25,865 
Diluted (in shares)
26,447 
26,067 
26,469 
25,865 
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
Mar. 31, 2014
Net loss
$ (4,105)
$ (3,294)
$ (4,838)
$ (2,827)
Foreign currency translation adjustment, net of tax
28 
(31)
(118)
18 
Total comprehensive loss
$ (4,077)
$ (3,325)
$ (4,956)
$ (2,809)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities
 
 
Net loss
$ (4,838)
$ (2,827)
Adjustments to reconcile net loss to net cash provided by operating activities:
 
 
Depreciation
20,666 
20,577 
Amortization
140 
283 
Allowance for doubtful accounts
0 
(363)
Share-based compensation expense
3,319 
2,175 
Deferred income taxes, net
144 
952 
Gain on disposal of property and equipment
(92)
(120)
Government grant via forgiven loan
(250)
0 
Changes in assets and liabilities:
 
 
Accounts receivable
5,605 
1,509 
Inventories
249 
8,538 
Other current and long-term assets
(939)
(1,008)
Accounts payable
(5,046)
(3,683)
Income taxes payable
(805)
(1,125)
Accrued and other liabilities
(431)
2,053 
Net cash provided by operating activities
17,722 
26,961 
Cash flows from investing activities
 
 
Purchases of property and equipment
(12,579)
(6,462)
Proceeds from sale of property and equipment
50 
244 
Restricted cash released (placed)
(1)
1 
Net cash used in investing activities
(12,530)
(6,217)
Cash flows from financing activities
 
 
Proceeds from exercise of stock options and ESPP
1,910 
1,279 
Payment for repurchase of common shares
3,977 
0 
Repayments of borrowings
(7,143)
(2,857)
Principal payments on capital leases
(790)
(927)
Net cash used in financing activities
(10,000)
(2,505)
Effect of exchange rate changes on cash and cash equivalents
(49)
(11)
Net increase (decrease) in cash and cash equivalents
(4,857)
18,228 
Cash and cash equivalents at beginning of period
117,788 
92,406 
Cash and cash equivalents at end of period
112,931 
110,634 
Supplemental disclosures of non-cash investing and financing information:
 
 
Property and equipment purchased but not yet paid
4,137 
1,635 
Re-issuance of treasury stock
$ 106 
$ 83 
The Company and Significant Accounting Policies
The Company and Significant Accounting Policies
The Company and Significant Accounting Policies
The Company
Alpha and Omega Semiconductor Limited and its subsidiaries (the “Company,” "AOS," "we" or "us") design, develop and supply a broad range of power semiconductors. The Company's portfolio of products targets high-volume applications, including portable computers, flat panel TVs, LED lighting, smart phones, battery packs, consumer and industrial motor controls and power supplies for TVs, computers, servers and telecommunications equipment. The Company conducts its operations primarily in the United States of America (“USA”), Hong Kong, Macau, China, Taiwan, Korea and Japan.
Basis of Preparation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Article 10 of Securities and Exchange Commission Regulation S-X, as amended. They do not include all information and footnotes necessary for a fair presentation of financial position, results of operations and cash flows in conformity with U.S. GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2014. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments (consisting of normal recurring adjustments and accruals) considered necessary for a fair presentation of the results of operations for the period presented have been included in the interim periods. Operating results for the three and nine months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2015. The condensed consolidated balance sheet at June 30, 2014 is derived from the audited financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2014.
Use of Estimates
The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. To the extent there are material differences between these estimates and actual results, the Company's condensed consolidated financial statements will be affected. On an ongoing basis, the Company evaluates the estimates, judgments and assumptions including those related to stock rotation returns, price adjustments, allowance for doubtful accounts, inventory reserves, warranty accrual, income taxes, share-based compensation, and useful lives for property, plant and equipment and intangible assets.
Fair Value of Financial Instruments
The fair value of cash equivalents are based on observable market prices and have been categorized in Level 1 in the fair value hierarchy. Cash equivalents consist primarily of short term bank deposits. The carrying values of financial instruments such as cash and cash equivalents, accounts receivable and accounts payable approximate their carrying values due to their short-term maturities. The carrying value of the Company's debt is considered a reasonable estimate of fair value which is estimated by considering the current rates available to the Company for debt of the same remaining maturities, structure and terms of the debts.
Comprehensive Income (Loss)
Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. The Company's accumulated other comprehensive income (loss) consists of cumulative foreign currency translation adjustments. Total comprehensive income (loss) is presented in the condensed consolidated statements of comprehensive income (loss).
Recent Accounting Pronouncements
    
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). The standard provides companies with a single model for use in accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific revenue guidance. The core principle of the model is to recognize revenue when control of the goods or services transfers to the customer, as opposed to recognizing revenue when the risks and rewards transfer to the customer under the existing revenue guidance. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016. Early adoption is not permitted. The guidance permits companies to either apply the requirements retrospectively to all prior periods presented, or apply the requirements in the year of adoption, through a cumulative adjustment. The Company is in the process of evaluating the impact of the adoption on its consolidated financial statements.

In August 2014, the FASB issued amended standards No. 2014-15, Presentation of Financial Statements - Going Concern ('ASU 2014-15"), to provide guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures requirement. The amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation for each annual and interim reporting period, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.

In February 2015, the FASB issued ASU No. 2015-2, “Consolidation (Topic 820): Amendments to the Consolidation Analysis.” ASU 2015-2 provides a revised consolidation model for all reporting entities to use in evaluating whether they should consolidate certain legal entities. All legal entities will be subject to reevaluation under this revised consolidation model. The revised consolidation model, among other things, (i) modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, (ii) eliminates the presumption that a general partner should consolidate a limited partnership, and (iii) modifies the consolidation analysis of reporting entities that are involved with VIEs through fee arrangements and related party relationships. ASU 2015-2 is effective for fiscal years, and interim reporting periods within those fiscal years, beginning after December 15, 2015. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.

In April 2015, the FASB issued ASU No. 2015-03, Interest -Imputation of Interest(Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts and the accounting for debt issue costs under IFRS. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. ASU 2015-03 is effective for the annual period ending after December 15, 2015, and interim periods within those fiscal years. Early adoption of the amendments in this Update is permitted for financial statements that have not been previously issued. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.
Net Income Per Share
Net Income Per Share
Net Loss Per Share
The following table presents the calculation of basic and diluted net loss per share:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands, except per share data)
Numerator:
 
 
 
 
 
 
 
Net loss
$
(4,105
)
 
$
(3,294
)
 
$
(4,838
)
 
$
(2,827
)
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
Weighted average number of common shares used to compute basic net loss per share
26,447

 
26,067

 
26,469

 
25,865

Diluted:
 
 
 
 
 
 
 
Weighted average number of common shares used to compute diluted net loss per share
26,447

 
26,067

 
26,469

 
25,865

Net loss per share:
 
 
 
 
 
 
 
Basic
$
(0.16
)
 
$
(0.13
)
 
$
(0.18
)
 
$
(0.11
)
Diluted
$
(0.16
)
 
$
(0.13
)
 
$
(0.18
)
 
$
(0.11
)

The following potential dilutive securities were excluded from the computation of diluted net loss per share as their effect would have been anti-dilutive:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
Employee stock options and RSUs
3,689

 
3,660

 
3,735

 
3,907

ESPP to purchase common shares
304

 
539

 
395

 
609

Total potential dilutive securities
3,993

 
4,199

 
4,130

 
4,516

Concentration of Credit Risk and Significant Customers
Concentration of Credit Risk and Significant Customers
Concentration of Credit Risk and Significant Customers
The Company manages its credit risk associated with exposure to distributors and direct customers on outstanding accounts receivable through the application of credit approvals, credit ratings and other monitoring procedures. In some instances, the Company also obtains letters of credit from certain customers.
Credit sales, which are mainly on credit terms of 30 to 60 days, are only made to customers who meet the Company's credit requirements, while sales to new customers or customers with low credit ratings are usually made on an advance payment basis. The Company considers its trade accounts receivable to be of good credit quality because its key distributors and direct customers have long-standing business relationships with the Company and the Company has not experienced any significant bad debt write-offs of accounts receivable in the past. The Company closely monitors the aging of accounts receivable from its distributors and direct customers, and regularly reviews their financial positions, when available.
Summarized below are individual customers whose revenue or accounts receivable balances were 10% or higher than the respective total consolidated amounts:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
Percentage of revenue
2015
 
2014
 
2015
 
2014
Customer A
25.1
%
 
20.1
%
 
24.5
%
 
21.1
%
Customer B
32.5
%
 
44.9
%
 
36.6
%
 
43.8
%
Customer C
12.3
%
 
11.2
%
 
12.2
%
 
12.0
%

 
March 31,
2015
 
June 30,
2014
Percentage of accounts receivable
 
Customer A
32.2
%
 
23.1
%
Customer B
14.7
%
 
30.5
%
Customer C
20.9
%
 
17.4
%
Balance Sheet Components
Balance Sheet Components
Balance Sheet Components
Accounts receivable:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
Accounts receivable
$
48,183

 
$
51,128

Less: Allowance for price adjustments
(17,012
)
 
(14,563
)
Less: Allowance for doubtful accounts
(30
)
 
(30
)
Accounts receivable, net
$
31,141

 
$
36,535



Inventories:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
Raw materials
$
20,147

 
$
18,996

Work in-process
33,630

 
36,003

Finished goods
12,534

 
11,561

 
$
66,311

 
$
66,560


 
Property, plant and equipment, net:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
Land
$
4,877

 
$
4,950

Building
4,224

 
4,106

Manufacturing machinery and equipment
170,679

 
161,354

Equipment and tooling
11,220

 
10,486

Computer equipment and software
20,417

 
19,319

Office furniture and equipment
1,715

 
1,643

Leasehold improvements
26,373

 
25,154

 
239,505

 
227,012

Less: Accumulated depreciation
(135,138
)
 
(114,658
)
 
104,367

 
112,354

Equipment and construction in progress
11,450

 
10,900

Property, plant and equipment, net
$
115,817

 
$
123,254


Other long-term assets:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
Prepayments for property and equipment
$
2,543

 
$
1,435

Investment in a privately held company
100

 
100

Office leases deposits
638

 
428

 
$
3,281

 
$
1,963


Accrued liabilities:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
Accrued compensation and benefit
$
5,314

 
$
4,879

Accrued vacation
1,936

 
1,777

Accrued bonuses
1,061

 
1,873

Warranty accrual
1,117

 
1,346

Stock rotation accrual
1,774

 
1,645

Accrued professional fees
883

 
1,001

ESPP payable
832

 
323

Customer deposits
73

 
104

Accrued inventory
539

 
590

Accrued facilities related expenses
1,479

 
1,353

Other accrued expenses
2,667

 
2,485

 
$
17,675

 
$
17,376




The activities in the warranty accrual, included in accrued liabilities, are as follows:
 
Nine Months Ended March 31,
 
2015
 
2014
 
(in thousands)
Beginning balance
$
1,346

 
$
1,428

Additions
1,216

 
939

Utilization
(1,445
)
 
(1,186
)
Ending balance
$
1,117

 
$
1,181


The activities in the stock rotation accrual, included in accrued liabilities, are as follows:
 
Nine Months Ended March 31,
 
2015
 
2014
 
(in thousands)
Beginning balance
$
1,645

 
$
1,572

Additions
4,129

 
3,702

Utilization
(4,000
)
 
(2,480
)
Ending balance
$
1,774

 
$
2,794


Other Long-term liabilities:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
Deferred rent
$
1,004

 
$
1,143

Debt
Debt
Debt
On May 11, 2012, the Company entered into a loan agreement with a financial institution that provides a term loan of $20.0 million for general purposes and a $10.0 million non-revolving credit line for the purchase of equipment. Both the term loan and equipment line will be fully repayable in May 2015. The borrowings may be made in the form of either Eurodollar loans or Base Rate loans. Eurodollar loans accrue interest based on an adjusted London Interbank Offered Rate ("LIBOR") as defined in the agreement, plus a margin of 1.00% to 1.75%. Base Rate loans accrue interest at the highest of (a) the lender's Prime Rate, (b) the Federal Funds Rate plus 0.5% and (c) the Eurodollar Rate (for a one-month interest period) plus 1%; plus a margin of -0.5% to 0.25%. The applicable margins for both Eurodollar loans and Base Rate loans will vary from time to time in the foregoing ranges based on the cash and cash equivalent balances maintained by the Company and its subsidiaries with the lender. In May 2013, the equipment credit line expired and there was no outstanding balance. As of March 31, 2015 and June 30, 2014, the outstanding balances of the term loan were $6.4 million and $13.6 million, respectively.

The obligations under the loan agreement are secured by substantially all assets of two subsidiaries of the Company, including, but not limited to, certain real property and related assets located at the Oregon fab. In addition, the Company and certain subsidiaries of the Company have agreed to guarantee full repayment and performance of the obligations under the loan agreement. The loan agreement contains customary restrictive covenants and includes certain financial covenants that require the Company to maintain on a consolidated basis specified financial ratios including total liabilities to tangible net worth, fixed charge coverage and current assets to current liabilities. As of March 31, 2015, the Company was in compliance with these covenants.
During July 2012, the Company entered into a loan agreement with the State of Oregon for an amount of $0.3 million. The loan was required to be used for training new and re-training existing employees of the Oregon fab. The loan bore a compound annual interest rate of 5.0% and was to be repaid in April 2014 if the required conditions were not met. In September 2014, the State of Oregon forgave the outstanding balance in full as we had satisfied the conditions. The $0.3 million loan forgiven was recorded as a reduction of costs of goods sold in our condensed consolidated statements of operations.
Shareholders' Equity and Share-based Compensation
Shareholders' Equity and Share-based Compensation
Shareholders' Equity and Share-based Compensation
Share Repurchase

On May 8, 2014, our Board of Directors approved to reactivate the share repurchase program which was originally authorized on October 22, 2010 for a total amount of $25.0 million.  The Board authorized management to repurchase, subject to oversight by the Board, our common shares up to the remaining balance of the program, or $22.7 million.  The repurchases may be made from the open market or through privately negotiated transactions. Open market repurchases will be made pursuant to a pre-established 10b5-1 trading plan with specified amount of shares and price for the repurchases. The amount and timing of any repurchases will depend on a number of factors, including but not limited to, the trading price, volume and availability of our common shares, applicable legal requirements, our business and financial conditions and general market environment. The Company accounts for treasury stock under the cost method. Shares repurchased are accounted for as treasury shares and the total cost of shares repurchased is recorded as a reduction of shareholders' equity. From time to time, treasury shares may be reissued as part of the Company's stock-based compensation programs. Gains on re-issuance of treasury stock are credited to additional paid-in capital; losses are charged to additional paid-in capital to offset the net gains, if any, from previous sales or re-issuance of treasury stock. Any remaining balance of the losses are charged to retained earnings. In April 2015, the Board of Directors of the Company approved an increase in the remaining available amount under the Company’s share repurchase program from approximately $17.8 million to $50.0 million.
 
During the nine months ended March 31, 2015, the Company repurchased 449,247 shares from the open market for a total cost of $4.0 million, at an average price of $8.85 per share under the share repurchase program.  Since the inception of the program in 2010, the Company repurchased an aggregate of 810,611 shares from the open market for a total cost of $7.2 million, at an average price of $8.84 per share.  No repurchased shares have been retired. Of the 810,611 repurchased shares, 29,300 shares with a weighted average repurchase price of $13.84 per share, were reissued at an average price of $2.22 per share for option exercises and vested RSU.

Stock Options
The following table summarizes the Company's stock option activities for the nine months ended March 31, 2015:
 
 
 
Weighted
 
 
 
 
 
Average
 
 
 
Number of
 
Exercise Price
 
Aggregate
 
Shares
 
Per Share
 
Intrinsic Value
Outstanding at June 30, 2014
3,238,784

 
$
10.28

 
$
3,258,607

Granted
10,000

 
$
9.07

 
 
Exercised
(198,065
)
 
$
5.70

 
$
740,051

Canceled or forfeited
(132,085
)
 
$
10.19

 
 
Outstanding at March 31, 2015
2,918,634

 
$
10.60

 
$
1,974,804


Information with respect to stock options outstanding and exercisable at March 31, 2015 is as follows:
 
Options Outstanding  
 
Options Vested and Exercisable  
 
Number Outstanding
 
Weighted-Average
Remaining Contractual Life (years) 
 
Weighted-Average
Exercise Price
 
Number Exercisable
 
Weighted-Average
Exercise Price
Total options outstanding
2,918,634

 
4.77
 
$
10.60

 
2,323,289

 
$
11.22

Options vested and expected to vest
2,860,969

 
4.69
 
$
10.65

 
 
 
 
Options expected to vest are the result of applying the pre-vesting forfeiture rate assumption to total outstanding options.
The fair value of stock options granted were estimated at the date of grant using the Black-Scholes option valuation model for the nine months ended March 31, 2015 with the following weighted average assumptions:
 
Nine Months Ended March 31,
 
2015
Volatility rate
41.2%
Risk-free interest rate
1.6% - 1.8%
Expected term
5.5 years
Dividend yield
0%

Historically, the Company estimates its expected volatility based on that of the publicly traded shares of industry peers over a period equivalent to the expected term of the stock awards granted. Beginning in July 2015, the Company estimates its expected volatility based on a weighted average calculation of both the Company's volatility of its publicly traded share prices since its IPO and that of the publicly traded shares of industry peers over a period equivalent to the expected term of the stock awards granted.
Restricted Stock Units ("RSU")
The following table summarizes the Company's RSU activities for the nine months ended March 31, 2015:
 
Number of Restricted Stock
Units
 
Weighted Average
Grant Date Fair
Value Per Share
 
Weighted Average
Remaining
Recognition
Period (Years)
 
Aggregate Intrinsic Value
Nonvested at June 30, 2014
656,374

 
$
8.40

 
1.77
 
$
6,084,587

Granted
455,742

 
$
8.93

 
 
 
 
Vested
(185,405
)
 
$
8.62

 
 
 
 
Forfeited
(59,995
)
 
$
8.37

 
 
 
 
Nonvested at March 31, 2015
866,716

 
$
8.63

 
1.95
 
$
7,722,440

RSUs vested and expected to vest
744,314

 
 
 
1.86
 
$
6,631,837

The fair value of RSU is estimated based on the market price of the Company's share on the date of grant.
Employee Share Purchase Plan ("ESPP")
The assumptions used to estimate the fair values of common shares issued under the ESPP were as follows:
 
 
 
Nine Months Ended March 31,
 
2015
Volatility rate
50%
Risk-free interest rate
0.1% - 0.5%
Expected term
1.3 years
Dividend yield
0%

Share-based Compensation Expense
The total share-based compensation expense related to stock options, ESPP and RSUs described above, recognized in the condensed consolidated statements of operations for the periods presented was as follows:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
 
(in thousands)
Cost of goods sold
$
167

 
$
119

 
$
495

 
$
457

Research and development
43

 
221

 
542

 
484

Selling, general and administrative
730

 
521

 
2,282

 
1,234

 
$
940

 
$
861

 
$
3,319

 
$
2,175


Total unrecognized stock-based compensation expense as of March 31, 2015 was $5.6 million, which includes estimated forfeitures and is expected to be recognized over a weighted-average period of 1.8 years.
Income Taxes
Income Taxes
Income Taxes
The Company recognized income tax expense of approximately $0.7 million and $0.4 million for the three months ended March 31, 2015 and 2014, respectively. The Company recognized income tax expense of approximately $2.8 million and $2.5 million for the nine months ended March 31, 2015 and 2014, respectively. The estimated effective tax rate for the three months ended March 31, 2015 was (20.5)% compared to (12.3)% for the three months ended March 31, 2014. The estimated effective tax rate was (140.5)% and (729.0)% for the nine months ended March 31, 2015 and 2014, respectively. The variances in the effective tax rate and tax expense between the periods resulted primarily from changes in the mix of earnings in various geographic jurisdictions between the current and same periods of last year as well as a decrease in the recognition of previously unrecognized tax benefits following the lapse of the applicable statute of limitations between the respective periods.
The Company files its income tax returns in the United States and in various foreign jurisdictions. The tax years 2001 to 2014 remain open to examination by U.S. federal and state tax authorities. The tax years 2008 to 2014 remain open to examination by foreign tax authorities.
The Company's income tax returns are subject to examinations by the Internal Revenue Service and other tax authorities in various jurisdictions. In accordance with the guidance on the accounting for uncertainty in income taxes, the Company regularly assesses the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of its provision for income taxes. These assessments can require considerable estimates and judgments. As of March 31, 2015, the gross amount of unrecognized tax benefits was approximately $6.3 million, of which $4.3 million, if recognized, would reduce the effective income tax rate in future periods. If the Company's estimate of income tax liabilities proves to be less than the ultimate assessment, then a further charge to expense would be required. If events occur and the payment of these amounts ultimately proves to be unnecessary, the reversal of the liabilities would result in tax benefits being recognized in the period when the Company determines the liabilities are no longer necessary. The Company does not anticipate any material changes to its uncertain tax positions during the next twelve months.
Segment and Geographic Information
Segment and Geographic Information
Segment and Geographic Information
The Company is organized as, and operates in, one operating segment: the design, development and supply of power semiconductor products for computing, consumer electronics, communication and industrial applications. The chief operating decision-maker is the Chief Executive Officer. The financial information presented to the Company's Chief Executive Officer is on a consolidated basis, accompanied by information about revenue by customer and geographic region, for purposes of evaluating financial performance and allocating resources. The Company has one business segment, and there are no segment managers who are held accountable for operations, operating results and plans for products or components below the consolidated unit level. Accordingly, the Company reports as a single operating segment.
The Company sells its products primarily to distributors in the Asia Pacific region, who in turn sell these products to end customers. Because the Company's distributors sell their products to end customers which may have a global presence, revenue by geographical location is not necessarily representative of the geographical distribution of sales to end user markets.
The revenue by geographical location in the following tables is based on the country or region to which the products were shipped to:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
 
(in thousands)
Hong Kong
$
64,610

 
$
65,026

 
$
210,135

 
$
200,511

China
10,315

 
8,497

 
30,095

 
29,545

South Korea
624

 
775

 
1,787

 
2,317

United States
706

 
513

 
2,270

 
1,411

Other Countries
663

 
594

 
2,176

 
2,007

 
$
76,918

 
$
75,405

 
$
246,463

 
$
235,791

The following is a summary of revenue by product type:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
 
(in thousands)
Power discrete
$
59,181

 
$
58,563

 
$
185,275

 
$
182,654

Power IC
13,719

 
12,844

 
$
48,984

 
$
39,682

Packaging and testing services
4,018

 
3,998

 
$
12,204

 
$
13,455

 
$
76,918

 
$
75,405

 
$
246,463

 
$
235,791

 
Long-lived assets, net consisting of property, plant and equipment, by geographical area are as follows:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
China
$
72,999

 
$
80,736

United States
42,233

 
42,106

Other Countries
585

 
412

 
$
115,817

 
$
123,254

Commitments and Contingencies
Commitments and Contingencies
Commitments and Contingencies
Purchase Commitments
As of March 31, 2015 and June 30, 2014, the Company had approximately $31.6 million and $34.5 million, respectively, of outstanding purchase commitments primarily for purchases of semiconductor raw materials, wafers, spare parts and packaging and testing services, and approximately $5.8 million and $4.6 million, respectively, of capital commitments for the purchase of property and equipment.
Contingencies and Indemnities
The Company is currently not a party to any pending material legal proceedings. The Company has in the past, and may from time to time in the future, become involved in legal proceedings arising from the normal course of business activities.  The semiconductor industry is characterized by frequent claims and litigation, including claims regarding patent and other intellectual property rights as well as improper hiring practices. Irrespective of the validity of such claims, the Company could incur significant costs in the defense of such claims and suffer adverse effects on its operations.
The Company is a party to a variety of agreements that it has contracted with various third parties. Pursuant to these agreements, the Company may be obligated to indemnify another party to such an agreement with respect to certain matters. Typically, these obligations arise in the context of contracts entered into by the Company, under which the Company customarily agrees to hold the other party harmless against losses arising from a breach of representations and covenants related to such matters as title to assets sold, certain intellectual property rights, specified environmental matters and certain income taxes. In these circumstances, payment by the Company is customarily conditioned on the other party making a claim pursuant to the procedures specified in the particular contract, which procedures typically allow the Company to challenge the other party's claim. Further, the Company's obligations under these agreements may be limited in time and/or amount, and in some instances, the Company may have recourse against third parties for certain payments made by it under these agreements. The Company has not historically paid or recorded any material indemnifications and no accrual has been made at March 31, 2015 and June 30, 2014.
The Company has agreed to indemnify its directors and certain employees as permitted by law and pursuant to its bye-laws, and has entered into indemnification agreements with its directors and executive officers. The Company has not recorded a liability associated with these indemnification arrangements, as it historically has not incurred any material costs associated with such indemnification obligations. Costs associated with such indemnification obligations may be mitigated by insurance coverage that the Company maintains. However, such insurance may not cover any, or may cover only a portion of, the amounts the Company may be required to pay. In addition, the Company may not be able to maintain such insurance coverage in the future.
The Company and Significant Accounting Policies (Policies)
Concentration Risk, Credit Risk, Policy [Policy Text Block] 
The Company manages its credit risk associated with exposure to distributors and direct customers on outstanding accounts receivable through the application of credit approvals, credit ratings and other monitoring procedures. In some instances, the Company also obtains letters of credit from certain customers.
Credit sales, which are mainly on credit terms of 30 to 60 days, are only made to customers who meet the Company's credit requirements, while sales to new customers or customers with low credit ratings are usually made on an advance payment basis. The Company considers its trade accounts receivable to be of good credit quality because its key distributors and direct customers have long-standing business relationships with the Company and the Company has not experienced any significant bad debt write-offs of accounts receivable in the past. The Company closely monitors the aging of accounts receivable from its distributors and direct customers, and regularly reviews their financial positions, when available.
Basis of Preparation 
Basis of Preparation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Article 10 of Securities and Exchange Commission Regulation S-X, as amended. They do not include all information and footnotes necessary for a fair presentation of financial position, results of operations and cash flows in conformity with U.S. GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2014. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments (consisting of normal recurring adjustments and accruals) considered necessary for a fair presentation of the results of operations for the period presented have been included in the interim periods. Operating results for the three and nine months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2015. The condensed consolidated balance sheet at June 30, 2014 is derived from the audited financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2014.
Use of Estimates 
Use of Estimates
The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. To the extent there are material differences between these estimates and actual results, the Company's condensed consolidated financial statements will be affected. On an ongoing basis, the Company evaluates the estimates, judgments and assumptions including those related to stock rotation returns, price adjustments, allowance for doubtful accounts, inventory reserves, warranty accrual, income taxes, share-based compensation, and useful lives for property, plant and equipment and intangible assets.
Fair Value of Financial Instruments 
Fair Value of Financial Instruments
The fair value of cash equivalents are based on observable market prices and have been categorized in Level 1 in the fair value hierarchy. Cash equivalents consist primarily of short term bank deposits. The carrying values of financial instruments such as cash and cash equivalents, accounts receivable and accounts payable approximate their carrying values due to their short-term maturities. The carrying value of the Company's debt is considered a reasonable estimate of fair value which is estimated by considering the current rates available to the Company for debt of the same remaining maturities, structure and terms of the debts.
Comprehensive Income (Loss) 
Comprehensive Income (Loss)
Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. The Company's accumulated other comprehensive income (loss) consists of cumulative foreign currency translation adjustments. Total comprehensive income (loss) is presented in the condensed consolidated statements of comprehensive income (loss).
Recent Accounting Pronouncements 
Recent Accounting Pronouncements
    
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). The standard provides companies with a single model for use in accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific revenue guidance. The core principle of the model is to recognize revenue when control of the goods or services transfers to the customer, as opposed to recognizing revenue when the risks and rewards transfer to the customer under the existing revenue guidance. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016. Early adoption is not permitted. The guidance permits companies to either apply the requirements retrospectively to all prior periods presented, or apply the requirements in the year of adoption, through a cumulative adjustment. The Company is in the process of evaluating the impact of the adoption on its consolidated financial statements.

In August 2014, the FASB issued amended standards No. 2014-15, Presentation of Financial Statements - Going Concern ('ASU 2014-15"), to provide guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures requirement. The amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation for each annual and interim reporting period, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.

In February 2015, the FASB issued ASU No. 2015-2, “Consolidation (Topic 820): Amendments to the Consolidation Analysis.” ASU 2015-2 provides a revised consolidation model for all reporting entities to use in evaluating whether they should consolidate certain legal entities. All legal entities will be subject to reevaluation under this revised consolidation model. The revised consolidation model, among other things, (i) modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, (ii) eliminates the presumption that a general partner should consolidate a limited partnership, and (iii) modifies the consolidation analysis of reporting entities that are involved with VIEs through fee arrangements and related party relationships. ASU 2015-2 is effective for fiscal years, and interim reporting periods within those fiscal years, beginning after December 15, 2015. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.

In April 2015, the FASB issued ASU No. 2015-03, Interest -Imputation of Interest(Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts and the accounting for debt issue costs under IFRS. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. ASU 2015-03 is effective for the annual period ending after December 15, 2015, and interim periods within those fiscal years. Early adoption of the amendments in this Update is permitted for financial statements that have not been previously issued. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.
Net Income Per Share (Tables)
Schedule of Earnings Per Share, Basic and Diluted 
The following table presents the calculation of basic and diluted net loss per share:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands, except per share data)
Numerator:
 
 
 
 
 
 
 
Net loss
$
(4,105
)
 
$
(3,294
)
 
$
(4,838
)
 
$
(2,827
)
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
Weighted average number of common shares used to compute basic net loss per share
26,447

 
26,067

 
26,469

 
25,865

Diluted:
 
 
 
 
 
 
 
Weighted average number of common shares used to compute diluted net loss per share
26,447

 
26,067

 
26,469

 
25,865

Net loss per share:
 
 
 
 
 
 
 
Basic
$
(0.16
)
 
$
(0.13
)
 
$
(0.18
)
 
$
(0.11
)
Diluted
$
(0.16
)
 
$
(0.13
)
 
$
(0.18
)
 
$
(0.11
)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share 
The following potential dilutive securities were excluded from the computation of diluted net loss per share as their effect would have been anti-dilutive:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
Employee stock options and RSUs
3,689

 
3,660

 
3,735

 
3,907

ESPP to purchase common shares
304

 
539

 
395

 
609

Total potential dilutive securities
3,993

 
4,199

 
4,130

 
4,516

Concentration of Credit Risk and Significant Customers (Tables)
Schedules of Concentration of Risk, by Risk Factor
Summarized below are individual customers whose revenue or accounts receivable balances were 10% or higher than the respective total consolidated amounts:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
Percentage of revenue
2015
 
2014
 
2015
 
2014
Customer A
25.1
%
 
20.1
%
 
24.5
%
 
21.1
%
Customer B
32.5
%
 
44.9
%
 
36.6
%
 
43.8
%
Customer C
12.3
%
 
11.2
%
 
12.2
%
 
12.0
%

 
March 31,
2015
 
June 30,
2014
Percentage of accounts receivable
 
Customer A
32.2
%
 
23.1
%
Customer B
14.7
%
 
30.5
%
Customer C
20.9
%
 
17.4
%
Balance Sheet Components (Tables)
Schedule of Accounts, Notes, Loans and Financing Receivable 
Accounts receivable:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
Accounts receivable
$
48,183

 
$
51,128

Less: Allowance for price adjustments
(17,012
)
 
(14,563
)
Less: Allowance for doubtful accounts
(30
)
 
(30
)
Accounts receivable, net
$
31,141

 
$
36,535

Schedule of Inventory, Current 
Inventories:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
Raw materials
$
20,147

 
$
18,996

Work in-process
33,630

 
36,003

Finished goods
12,534

 
11,561

 
$
66,311

 
$
66,560

Property, Plant and Equipment 
Property, plant and equipment, net:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
Land
$
4,877

 
$
4,950

Building
4,224

 
4,106

Manufacturing machinery and equipment
170,679

 
161,354

Equipment and tooling
11,220

 
10,486

Computer equipment and software
20,417

 
19,319

Office furniture and equipment
1,715

 
1,643

Leasehold improvements
26,373

 
25,154

 
239,505

 
227,012

Less: Accumulated depreciation
(135,138
)
 
(114,658
)
 
104,367

 
112,354

Equipment and construction in progress
11,450

 
10,900

Property, plant and equipment, net
$
115,817

 
$
123,254

Schedule of Other Assets, Noncurrent 
Other long-term assets:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
Prepayments for property and equipment
$
2,543

 
$
1,435

Investment in a privately held company
100

 
100

Office leases deposits
638

 
428

 
$
3,281

 
$
1,963

Schedule of Accrued Liabilities 
Accrued liabilities:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
Accrued compensation and benefit
$
5,314

 
$
4,879

Accrued vacation
1,936

 
1,777

Accrued bonuses
1,061

 
1,873

Warranty accrual
1,117

 
1,346

Stock rotation accrual
1,774

 
1,645

Accrued professional fees
883

 
1,001

ESPP payable
832

 
323

Customer deposits
73

 
104

Accrued inventory
539

 
590

Accrued facilities related expenses
1,479

 
1,353

Other accrued expenses
2,667

 
2,485

 
$
17,675

 
$
17,376

Schedule of Product Warranty Liability 
The activities in the warranty accrual, included in accrued liabilities, are as follows:
 
Nine Months Ended March 31,
 
2015
 
2014
 
(in thousands)
Beginning balance
$
1,346

 
$
1,428

Additions
1,216

 
939

Utilization
(1,445
)
 
(1,186
)
Ending balance
$
1,117

 
$
1,181

Stock Rotation Accrual 
The activities in the stock rotation accrual, included in accrued liabilities, are as follows:
 
Nine Months Ended March 31,
 
2015
 
2014
 
(in thousands)
Beginning balance
$
1,645

 
$
1,572

Additions
4,129

 
3,702

Utilization
(4,000
)
 
(2,480
)
Ending balance
$
1,774

 
$
2,794

Schedule of Other Noncurrent Liabilities 
Other Long-term liabilities:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
Deferred rent
$
1,004

 
$
1,143

Shareholders' Equity and Share-based Compensation (Tables)
Summary of Stock Option Activities 
Stock Options
The following table summarizes the Company's stock option activities for the nine months ended March 31, 2015:
 
 
 
Weighted
 
 
 
 
 
Average
 
 
 
Number of
 
Exercise Price
 
Aggregate
 
Shares
 
Per Share
 
Intrinsic Value
Outstanding at June 30, 2014
3,238,784

 
$
10.28

 
$
3,258,607

Granted
10,000

 
$
9.07

 
 
Exercised
(198,065
)
 
$
5.70

 
$
740,051

Canceled or forfeited
(132,085
)
 
$
10.19

 
 
Outstanding at March 31, 2015
2,918,634

 
$
10.60

 
$
1,974,804


Information with respect to stock options outstanding and exercisable at March 31, 2015 is as follows:
 
Options Outstanding  
 
Options Vested and Exercisable  
 
Number Outstanding
 
Weighted-Average
Remaining Contractual Life (years) 
 
Weighted-Average
Exercise Price
 
Number Exercisable
 
Weighted-Average
Exercise Price
Total options outstanding
2,918,634

 
4.77
 
$
10.60

 
2,323,289

 
$
11.22

Options vested and expected to vest
2,860,969

 
4.69
 
$
10.65

 
 
 
 
Options expected to vest are the result of applying the pre-vesting forfeiture rate assumption to total outstanding options.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] 
The fair value of stock options granted were estimated at the date of grant using the Black-Scholes option valuation model for the nine months ended March 31, 2015 with the following weighted average assumptions:
 
Nine Months Ended March 31,
 
2015
Volatility rate
41.2%
Risk-free interest rate
1.6% - 1.8%
Expected term
5.5 years
Dividend yield
0%
Restricted Stock Units Activity 
Restricted Stock Units ("RSU")
The following table summarizes the Company's RSU activities for the nine months ended March 31, 2015:
 
Number of Restricted Stock
Units
 
Weighted Average
Grant Date Fair
Value Per Share
 
Weighted Average
Remaining
Recognition
Period (Years)
 
Aggregate Intrinsic Value
Nonvested at June 30, 2014
656,374

 
$
8.40

 
1.77
 
$
6,084,587

Granted
455,742

 
$
8.93

 
 
 
 
Vested
(185,405
)
 
$
8.62

 
 
 
 
Forfeited
(59,995
)
 
$
8.37

 
 
 
 
Nonvested at March 31, 2015
866,716

 
$
8.63

 
1.95
 
$
7,722,440

RSUs vested and expected to vest
744,314

 
 
 
1.86
 
$
6,631,837

The fair value of RSU is estimated based on the market price of the Company's share on the date of grant.
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] 
Employee Share Purchase Plan ("ESPP")
The assumptions used to estimate the fair values of common shares issued under the ESPP were as follows:
 
 
 
Nine Months Ended March 31,
 
2015
Volatility rate
50%
Risk-free interest rate
0.1% - 0.5%
Expected term
1.3 years
Dividend yield
0%
Share-based Compensation, Allocation of Recognized Period Costs 
Share-based Compensation Expense
The total share-based compensation expense related to stock options, ESPP and RSUs described above, recognized in the condensed consolidated statements of operations for the periods presented was as follows:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
 
(in thousands)
Cost of goods sold
$
167

 
$
119

 
$
495

 
$
457

Research and development
43

 
221

 
542

 
484

Selling, general and administrative
730

 
521

 
2,282

 
1,234

 
$
940

 
$
861

 
$
3,319

 
$
2,175

Segment and Geographic Information (Tables)
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas 
Long-lived assets, net consisting of property, plant and equipment, by geographical area are as follows:
 
March 31,
2015
 
June 30,
2014
 
(in thousands)
China
$
72,999

 
$
80,736

United States
42,233

 
42,106

Other Countries
585

 
412

 
$
115,817

 
$
123,254

The revenue by geographical location in the following tables is based on the country or region to which the products were shipped to:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
 
(in thousands)
Hong Kong
$
64,610

 
$
65,026

 
$
210,135

 
$
200,511

China
10,315

 
8,497

 
30,095

 
29,545

South Korea
624

 
775

 
1,787

 
2,317

United States
706

 
513

 
2,270

 
1,411

Other Countries
663

 
594

 
2,176

 
2,007

 
$
76,918

 
$
75,405

 
$
246,463

 
$
235,791

Revenue from External Customers by Products and Services 
The following is a summary of revenue by product type:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
 
(in thousands)
Power discrete
$
59,181

 
$
58,563

 
$
185,275

 
$
182,654

Power IC
13,719

 
12,844

 
$
48,984

 
$
39,682

Packaging and testing services
4,018

 
3,998

 
$
12,204

 
$
13,455

 
$
76,918

 
$
75,405

 
$
246,463

 
$
235,791

Net Income Per Share - Basic and Diluted Income Per Share (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
Mar. 31, 2014
Numerator:
 
 
 
 
Net loss
$ (4,105)
$ (3,294)
$ (4,838)
$ (2,827)
Basic:
 
 
 
 
Weighted average number of common shares used to compute basic net loss per share
26,447 
26,067 
26,469 
25,865 
Effect of potentially dilutive securities:
 
 
 
 
Weighted average number of common shares used to compute diluted net loss per share
26,447 
26,067 
26,469 
25,865 
Net loss per share:
 
 
 
 
Basic (in dollars per share)
$ (0.16)
$ (0.13)
$ (0.18)
$ (0.11)
Diluted (in dollars per share)
$ (0.16)
$ (0.13)
$ (0.18)
$ (0.11)
Net Income Per Share - Potential Dilutive Shares (Details)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
Mar. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
 
 
 
 
Potential dilutive securities (in shares)
3,993 
4,199 
4,130 
4,516 
Employee stock options and RSUs
 
 
 
 
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
 
 
 
 
Potential dilutive securities (in shares)
3,689 
3,660 
3,735 
3,907 
ESPP to purchase common shares
 
 
 
 
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
 
 
 
 
Potential dilutive securities (in shares)
304 
539 
395 
609 
Concentration of Credit Risk and Significant Customers - (Details)
9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended
Mar. 31, 2015
Minimum
Mar. 31, 2015
Maximum
Mar. 31, 2015
Customer A
Sales Revenue, Goods, Net
Customer Concentration Risk
Mar. 31, 2014
Customer A
Sales Revenue, Goods, Net
Customer Concentration Risk
Mar. 31, 2015
Customer A
Sales Revenue, Goods, Net
Customer Concentration Risk
Mar. 31, 2014
Customer A
Sales Revenue, Goods, Net
Customer Concentration Risk
Mar. 31, 2015
Customer A
Accounts Receivable
Customer Concentration Risk
Jun. 30, 2014
Customer A
Accounts Receivable
Customer Concentration Risk
Mar. 31, 2015
Customer B
Sales Revenue, Goods, Net
Customer Concentration Risk
Mar. 31, 2014
Customer B
Sales Revenue, Goods, Net
Customer Concentration Risk
Mar. 31, 2015
Customer B
Sales Revenue, Goods, Net
Customer Concentration Risk
Mar. 31, 2014
Customer B
Sales Revenue, Goods, Net
Customer Concentration Risk
Mar. 31, 2015
Customer B
Accounts Receivable
Customer Concentration Risk
Jun. 30, 2014
Customer B
Accounts Receivable
Customer Concentration Risk
Mar. 31, 2015
Customer C
Sales Revenue, Goods, Net
Customer Concentration Risk
Mar. 31, 2014
Customer C
Sales Revenue, Goods, Net
Customer Concentration Risk
Mar. 31, 2015
Customer C
Sales Revenue, Goods, Net
Customer Concentration Risk
Mar. 31, 2014
Customer C
Sales Revenue, Goods, Net
Customer Concentration Risk
Mar. 31, 2015
Customer C
Accounts Receivable
Customer Concentration Risk
Jun. 30, 2014
Customer C
Accounts Receivable
Customer Concentration Risk
Concentration Risk
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Terms of credit sales, (in days)
30 days 
60 days 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Customers greater than 10% of total
 
 
25.10% 
20.10% 
24.50% 
21.10% 
32.20% 
23.10% 
32.50% 
44.90% 
36.60% 
43.80% 
14.70% 
30.50% 
12.30% 
11.20% 
12.20% 
12.00% 
20.90% 
17.40% 
Balance Sheet Components - Accounts receivable (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Jun. 30, 2014
Balance Sheet Related Disclosures [Abstract]
 
 
Accounts receivable
$ 48,183 
$ 51,128 
Less: Allowance for price adjustments
(17,012)
(14,563)
Less: Allowance for doubtful accounts
(30)
(30)
Accounts receivable, net
$ 31,141 
$ 36,535 
Balance Sheet Components - Inventories (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Jun. 30, 2014
Balance Sheet Related Disclosures [Abstract]
 
 
Raw materials
$ 20,147 
$ 18,996 
Work in-process
33,630 
36,003 
Finished goods
12,534 
11,561 
Inventory, net
$ 66,311 
$ 66,560 
Balance Sheet Components - Property, plant, and equipment (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Jun. 30, 2014
Property, Plant and Equipment [Line Items]
 
 
Property, plant, and equipment excluding equipment and construction In progress, gross
$ 239,505 
$ 227,012 
Less: Accumulated depreciation
(135,138)
(114,658)
Property, plant and equipment excluding equipment and construction in progress, net
104,367 
112,354 
Equipment and construction in progress
11,450 
10,900 
Property, plant and equipment, net
115,817 
123,254 
Land
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant, and equipment excluding equipment and construction In progress, gross
4,877 
4,950 
Building
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant, and equipment excluding equipment and construction In progress, gross
4,224 
4,106 
Manufacturing machinery and equipment
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant, and equipment excluding equipment and construction In progress, gross
170,679 
161,354 
Equipment and tooling
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant, and equipment excluding equipment and construction In progress, gross
11,220 
10,486 
Computer equipment and software
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant, and equipment excluding equipment and construction In progress, gross
20,417 
19,319 
Office furniture and equipment
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant, and equipment excluding equipment and construction In progress, gross
1,715 
1,643 
Leasehold improvements
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant, and equipment excluding equipment and construction In progress, gross
$ 26,373 
$ 25,154 
Balance Sheet Components - Other long term assets (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Jun. 30, 2014
Balance Sheet Related Disclosures [Abstract]
 
 
Prepayments for property and equipment
$ 2,543 
$ 1,435 
Investment in a privately held company
100 
100 
Office leases deposits
638 
428 
Other long-term assets
$ 3,281 
$ 1,963 
Balance Sheet Components - Accrued liabilities (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Jun. 30, 2014
Mar. 31, 2014
Jun. 30, 2013
Balance Sheet Related Disclosures [Abstract]
 
 
 
 
Accrued compensation and benefit
$ 5,314 
$ 4,879 
 
 
Accrued vacation
1,936 
1,777 
 
 
Accrued bonuses
1,061 
1,873 
 
 
Warranty accrual
1,117 
1,346 
1,181 
1,428 
Stock rotation accrual
1,774 
1,645 
2,794 
1,572 
Accrued professional fees
883 
1,001 
 
 
ESPP payable
832 
323 
 
 
Customer deposits
73 
104 
 
 
Accrued inventory
539 
590 
 
 
Accrued facilities related expenses
1,479 
1,353 
 
 
Other accrued expenses
2,667 
2,485 
 
 
Accrued liabilities
$ 17,675 
$ 17,376 
 
 
Balance Sheet Components - Product Warranty Accrual (Details) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
 
 
Beginning balance
$ 1,346 
$ 1,428 
Additions
1,216 
939 
Utilization
(1,445)
(1,186)
Ending balance
$ 1,117 
$ 1,181 
Balance Sheet Components - Stock Rotation Accrual (Details) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Stock Rotation Accrual Increae (Decrease) [Roll Forward]
 
 
Beginning balance
$ 1,645 
$ 1,572 
Additions
4,129 
3,702 
Utilization
(4,000)
(2,480)
Ending balance
$ 1,774 
$ 2,794 
Balance Sheet Components - Other Long Term Liability (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Jun. 30, 2014
Balance Sheet Related Disclosures [Abstract]
 
 
Deferred rent
$ 1,004 
$ 1,143 
Other long term liabilities
$ 1,004 
$ 1,143 
Debt - (Details) (USD $)
3 Months Ended 9 Months Ended 0 Months Ended
Sep. 30, 2014
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
Variable Interest Rate Term Loan Maturing May 2015
Notes Payable to Banks
subsidiary
Jun. 30, 2014
Variable Interest Rate Term Loan Maturing May 2015
Notes Payable to Banks
May 11, 2012
Variable Interest Rate Term Loan Maturing May 2015
Notes Payable to Banks
Jul. 17, 2012
State of Oregon Loan
Loans Payable
May 11, 2012
London Interbank Offered Rate (LIBOR) [Member]
Minimum
May 11, 2012
London Interbank Offered Rate (LIBOR) [Member]
Maximum
May 11, 2012
Federal Funds Rate [Member]
May 11, 2012
Eurodollar [Member]
May 11, 2012
Eurodollar [Member]
Minimum
May 11, 2012
Eurodollar [Member]
Maximum
Debt Instrument [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
Line of Credit Facility, Amount Outstanding
 
 
 
$ 0 
 
 
 
 
 
 
 
 
 
Loan, principal amount
 
 
 
 
 
20,000,000.0 
250,000 
 
 
 
 
 
 
Line of Credit Facility, Maximum Borrowing Capacity
 
 
 
 
 
10,000,000.0 
 
 
 
 
 
 
 
Debt instrument, basis spread on variable rate
 
 
 
 
 
 
 
1.00% 
1.75% 
0.50% 
1.00% 
(0.50%)
0.25% 
Outstanding balance of loan
 
 
 
6,400,000 
13,600,000 
 
 
 
 
 
 
 
 
Number of subsidiaries securing obligations under loan agreement
 
 
 
2 
 
 
 
 
 
 
 
 
 
Interest rate on loan
 
 
 
 
 
 
5.00% 
 
 
 
 
 
 
Forgiveness of loan
$ 250,000 
$ (250,000)
$ 0 
 
 
 
 
 
 
 
 
 
 
Shareholders' Equity and Share-based Compensation - Shares Repurchase (Details) (USD $)
In Millions, except Share data, unless otherwise specified
9 Months Ended 53 Months Ended 53 Months Ended
Mar. 31, 2015
Mar. 31, 2015
May 8, 2014
Oct. 22, 2010
Mar. 31, 2015
Treasury Stock Reissued
Apr. 30, 2015
Subsequent Event [Member]
Class of Stock [Line Items]
 
 
 
 
 
 
Share repurchase program, authorized amount (USD in Millions)
 
 
 
$ 25.0 
 
$ 50.0 
Shares Repurchase Program Remaining Balance
17.8 
17.8 
22.7 
 
 
 
Treasury stock acquired, shares repurchased (in shares)
449,247 
810,611 
 
 
 
 
Treasury Stock, Value, Acquired, Cost Method
$ 4.0 
$ 7.2 
 
 
 
 
Treasury stock acquired, average price per share (in dollars per share)
$ 8.85 
$ 8.84 
 
 
$ 13.84 
 
Treasury Stock, Shares, Retired
 
0 
 
 
 
 
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in shares)
 
29,300 
 
 
 
 
Treasury Stock Reissued, Average Price Per Share
 
$ 2.22 
 
 
 
 
Shareholders' Equity and Share-based Compensation - Share-based Compensation (Details) (USD $)
9 Months Ended 53 Months Ended
Mar. 31, 2015
Mar. 31, 2015
Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Treasury stock acquired, shares repurchased (in shares)
449,247 
810,611 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
 
 
 
Outstanding at June 30, 2014 (in shares)
3,238,784 
 
 
Granted (in shares)
10,000 
 
 
Exercised (in shares)
(198,065)
 
 
Canceled or forfeited (in shares)
(132,085)
 
 
Outstanding at March 31, 2015 (in shares)
2,918,634 
2,918,634 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
 
 
 
Outstanding at June 30, 2014 (in dollars per share)
$ 10.28 
 
 
Granted (in dollars per share)
$ 9.07 
 
 
Exercised (in dollars per share)
$ 5.70 
 
 
Canceled or forfeited (in dollars per share)
$ 10.19 
 
 
Outstanding at March 31, 2015 (in dollars per share)
$ 10.60 
$ 10.60 
 
Options Outstanding Aggregate Intrinsic Value
$ 1,974,804 
$ 1,974,804 
$ 3,258,607 
Options Exercised Aggregate Intrinsic Value
$ 740,051 
 
 
Employee Share Purchase Plan [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Volatility Rate
50.00% 
 
 
Expected Term
1 year 3 months 18 days 
 
 
Expected Dividend Rate
0.00% 
 
 
Employee Share Purchase Plan [Member] |
Minimum
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Risk Free Interest Rate
0.10% 
 
 
Employee Share Purchase Plan [Member] |
Maximum
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Risk Free Interest Rate
0.50% 
 
 
Stock Options [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Volatility Rate
41.20% 
 
 
Expected Term
5 years 6 months 
 
 
Expected Dividend Rate
0.00% 
 
 
Stock Options [Member] |
Minimum
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Risk Free Interest Rate
1.60% 
 
 
Stock Options [Member] |
Maximum
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Risk Free Interest Rate
1.80% 
 
 
Shareholders' Equity and Share-based Compensation - Stock Options Outstanding and Exercisable (Details) (USD $)
9 Months Ended
Mar. 31, 2015
Jun. 30, 2014
Share-based Compensation [Abstract]
 
 
Options, Number Outstanding (in shares)
2,918,634 
3,238,784 
Options, Weighted-Average Remaining Contractual Life (in years)
4 years 9 months 7 days 
 
Options, Weighted-Average Exercise Price (in dollars per share)
$ 10.60 
$ 10.28 
Options, Number Exercisable (in shares)
2,323,289 
 
Options, Weighted-Average Exercise Price (in dollars per share)
$ 11.22 
 
Options vested and expected to vest, Number Outstanding (in shares)
2,860,969 
 
Options vested and expected to vest, Weighted Average Remaining Contractual Life (in years)
4 years 8 months 9 days 
 
Options vested and expected to vest, Weighted Average Exercise Price (in dollars per share)
$ 10.65 
 
Shareholders' Equity and Share-based Compensation - Restricted Stock Activity (Details) (USD $)
3 Months Ended 9 Months Ended
Mar. 31, 2015
Jun. 30, 2014
Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
 
 
 
Weighted Average Remaining Recognition Period (Years)
1 year 9 months 18 days 
 
 
Restricted Stock
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
 
 
 
Nonvested
 
 
656,374 
Granted
 
 
455,742 
Vested
 
 
(185,405)
Forfeited
 
 
(59,995)
Nonvested
866,716 
656,374 
866,716 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
 
 
 
Nonvested
 
 
$ 8.40 
Granted
 
 
$ 8.93 
Vested
 
 
$ 8.62 
Forfeited
 
 
$ 8.37 
Nonvested
$ 8.63 
$ 8.40 
$ 8.63 
Weighted Average Remaining Recognition Period (Years)
1 year 11 months 12 days 
1 year 9 months 7 days 
 
RSUs Nonvested Aggregate Intrinsic Value
$ 7,722,440 
$ 6,084,587 
$ 7,722,440 
RSUs vested and expected to vest, Outstanding (in shares)
744,314 
 
744,314 
RSUs vested and expected to vest, Weighted Average Remaining Recognition Period (in years)
1 year 10 months 10 days 
 
 
RSUs vested and expected to vest, Aggregate Intrinsic Value
$ 6,631,837 
 
$ 6,631,837 
Shareholders' Equity and Share-based Compensation - Share-based Compensation Expenses (Details) (USD $)
3 Months Ended 9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
Mar. 31, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
 
 
 
Allocated share-based compensation expense
$ 940,000 
$ 861,000 
$ 3,319,000 
$ 2,175,000 
Unrecognized compensation expense
5,600,000 
 
5,600,000 
 
Recognition period of share-based compensation expense (in years)
1 year 9 months 18 days 
 
 
 
Cost of goods sold
 
 
 
 
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
 
 
 
Allocated share-based compensation expense
167,000 
119,000 
495,000 
457,000 
Research and development
 
 
 
 
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
 
 
 
Allocated share-based compensation expense
43,000 
221,000 
542,000 
484,000 
Selling, general and administrative
 
 
 
 
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
 
 
 
Allocated share-based compensation expense
$ 730,000 
$ 521,000 
$ 2,282,000 
$ 1,234,000 
Income Taxes - Narrative (Details) (USD $)
3 Months Ended 9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
Mar. 31, 2014
Income Tax Disclosure [Abstract]
 
 
 
 
Income tax expense
$ 698,000 
$ 361,000 
$ 2,826,000 
$ 2,486,000 
Estimated effective income tax rate
(20.50%)
(12.30%)
(140.50%)
(729.00%)
Unrecognized tax benefits
6,300,000 
 
6,300,000 
 
Unrecognized tax benefit that would impact effective tax rate
$ 4,300,000 
 
$ 4,300,000 
 
Segment and Geographic Information - Revenue by Location and Product Type (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
Mar. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
 
 
 
 
Revenue
$ 76,918 
$ 75,405 
$ 246,463 
$ 235,791 
Power discrete
 
 
 
 
Revenues from External Customers and Long-Lived Assets [Line Items]
 
 
 
 
Revenue
59,181 
58,563 
185,275 
182,654 
Power IC
 
 
 
 
Revenues from External Customers and Long-Lived Assets [Line Items]
 
 
 
 
Revenue
13,719 
12,844 
48,984 
39,682 
Packaging and testing services
 
 
 
 
Revenues from External Customers and Long-Lived Assets [Line Items]
 
 
 
 
Revenue
4,018 
3,998 
12,204 
13,455 
Hong Kong
 
 
 
 
Revenues from External Customers and Long-Lived Assets [Line Items]
 
 
 
 
Revenue
64,610 
65,026 
210,135 
200,511 
China
 
 
 
 
Revenues from External Customers and Long-Lived Assets [Line Items]
 
 
 
 
Revenue
10,315 
8,497 
30,095 
29,545 
South Korea
 
 
 
 
Revenues from External Customers and Long-Lived Assets [Line Items]
 
 
 
 
Revenue
624 
775 
1,787 
2,317 
United States
 
 
 
 
Revenues from External Customers and Long-Lived Assets [Line Items]
 
 
 
 
Revenue
706 
513 
2,270 
1,411 
Other Countries
 
 
 
 
Revenues from External Customers and Long-Lived Assets [Line Items]
 
 
 
 
Revenue
$ 663 
$ 594 
$ 2,176 
$ 2,007 
Segment and Geographic Information - Long-lived Assets (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Jun. 30, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
 
 
Property, plant and equipment, net
$ 115,817 
$ 123,254 
China
 
 
Revenues from External Customers and Long-Lived Assets [Line Items]
 
 
Property, plant and equipment, net
72,999 
80,736 
United States
 
 
Revenues from External Customers and Long-Lived Assets [Line Items]
 
 
Property, plant and equipment, net
42,233 
42,106 
Other Countries
 
 
Revenues from External Customers and Long-Lived Assets [Line Items]
 
 
Property, plant and equipment, net
$ 585 
$ 412 
Segment and Geographic Information - Narratives (Details)
9 Months Ended
Mar. 31, 2015
Segment
Segment Reporting [Abstract]
 
Number of operating segments
1 
Number of reportable segments
1 
Commitments and Contingencies - Purchase Commitments (Details) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Jun. 30, 2014
Raw materials, wafers, and packaging and testing services puchase commitments
 
 
Purchase Commitment, Excluding Long-term Committment [Line Items]
 
 
Purchase commitment, amount
$ 31.6 
$ 34.5 
Property and equipment purchase commitments
 
 
Purchase Commitment, Excluding Long-term Committment [Line Items]
 
 
Purchase commitment, amount
$ 5.8 
$ 4.6 
Commitments and Contingencies - Guarantees (Details) (Indemnification Agreement, USD $)
Mar. 31, 2015
Jun. 30, 2014
Indemnification Agreement
 
 
Loss Contingencies [Line Items]
 
 
Indemnifications accrual
$ 0 
$ 0