1 unchanged sentence
Common Stock Information
−Removed: As of August 19, 2020, the number of record holders of our common stock was 7.
−Removed: Because most of our shares are held by brokers and other institutions on behalf of stockholders, we are unable to estimate the total number of beneficial stockholders represented by these record holders.
+Added: As of August 25, 2021, the number of record holders of our common stock, which is listed on the New York Stock Exchange under the ticker symbol "UI", w as 7.
+Added: Because most of our shares are held by brokers and other institutions on behalf of stockholders, we are unable to esti mate the total number of beneficial stockholders represented by these record holders.
Stock Performance Graph
−Removed: The following graph compares the cumulative total stockholder return for our common stock from June 30, 2015 to June 30, 2020, with the comparable cumulative return of the NASDAQ Composite Index, the NASDAQ Computer Index, the NYSE Composite Index and the S&P Computer & Retail Index.
−Removed: The graph assumes that $100 was invested on June 30, 2015 in our common stock, the NASDAQ Composite Index, the NASDAQ Computer Index, the NYSE Composite Index and the S&P Computer & Retail Index and assumes reinvestment of any dividends.
−Removed: Our common stock commenced trading on the NYSE on August 20, 2019 under the ticker symbol “UI”.
+Added: The following graph compares the cumulative total stockholder return for our common stock from June 30, 2016 to June 30, 2021, with the comparable cumulative return the NYSE Composite Index and the S&P Computer & Retail Index.
+Added: The graph assumes that $100 was invested on June 30, 2016 in our common stock, the NYSE Composite Index and the S&P Computer & Retail Index and assumes reinvestment of any dividends.
The stock price performance on the following graph is not necessarily indicative of future stock price performance.
−Removed: This performance graph shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference into any of our filings under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
+Added: This performance graph shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference into any of our filings under the Securities Act of
+Added: 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*
−Removed: Among Ubiquiti Inc., the NASDAQ Composite Index, the NASDAQ Computer Index, the NYSE Composite Index and the S&P Computer & Electronics Retail Index
+Added: Among Ubiquiti Inc., the NYSE Composite Index and the S&P Computer & Electronics Retail Index
*100 invested on 6/30/16 in stock or index, including reinvestments of dividends.
2 unchanged sentences
Date of Approved and Publicly Announced Program Amount of Publicly Announced Program Total Number of Shares Purchased as Part of Publicly Announced Programs Average Price Paid per Share Total Aggregate Amount Paid Period of Purchases Estimated Remaining Balance Available for Share Repurchases under the Programs Expiration date of Program
−Removed: May 8, 2020 $500 million — $— $— — $ 500.0 3/31/2022
−Removed: November 8, 2019 $200 million 1,211,771 $133.78 $162.1 February 7, 2020 - April 21, 2020 $ 37.9 12/31/2021
−Removed: August 9, 2019 $500 million 4,337,320 $115.28 $500.0 August 12, 2019 - October 28, 2019 $ — 12/31/2020
−Removed: November 9, 2018 $200 million 293,709 $121.86 $35.8 July 8,2019 - August 12, 2019 $ — 12/31/2019
+Added: November 8, 2019 $ 200.0 228,180 $166.05 $37.9 August 21, 2020 - September 15, 2020 $ — 12/31/2021
+Added: May 8, 2020 $ 500.0 917,008 $198.33 $181.9 September 15, 2020 - June 24, 2021 $ 318.1 3/31/2022
Common stock repurchase activity under the share repurchase program during the fourth quarter ended June 30, 2021 was as follows (in millions, except share and per share amounts):
7 unchanged sentences
Dividends declared date August 21, 2020 November 6, 2020 February 5, 2021 May 6, 2021
−Removed: Dividends payment date August 19, 2019 November 25, 2019 February 25, 2020 May 26, 2020
+Added: Dividends payment date September 8, 2020 November 23, 2020 February 22, 2021 May 24, 2021
Cash dividend paid per common stock $ 0.40 $ 0.40 $ 0.40 $ 0.40
1 unchanged sentence
Dividends declared date August 8, 2019 November 6, 2019 February 4, 2020 May 5, 2020
−Removed: Dividends payment date September 10, 2018 November 26, 2018 February 25, 2019 May 28, 2019
+Added: Dividends payment date August 19, 2019 November 25, 2019 February 25, 2020 May 26, 2020
Cash dividend paid per common stock $ 0.30 $ 0.30 $ 0.30 $ 0.30
−Removed: On August 21, 2020, the Company announced that its Board of Directors declared a cash dividend of $0.40 per share payable on September 8, 2020 to shareholders of record at the close of business on August 31, 2020.
+Added: On August 27, 2021, the Company announced that its Board of Directors declared a cash dividend of $0.60 per share payable on September 15, 2021 to shareholders of record at the close of business on September 7, 2021.
The Company intends to pay regular quarterly cash dividends of at least $0.60 per share during each remaining quarter of fiscal 2022, however any future dividends will be subject to the approval of the Company’s Board of Directors.
5 unchanged sentences
Selected Financial Data
−Removed: The selected consolidated statement of operations and comprehensive income data for the fiscal years ended June 30, 2020, 2019 and 2018 and the consolidated balance sheet data as of June 30, 2020 and 2019 are derived from our audited consolidated financial statements included elsewhere in this report.
−Removed: The selected consolidated statement of operations and comprehensive income data for the fiscal years ended June 30, 2017 and 2016 and the consolidated balance sheet data as of June 30, 2018, 2017 and 2016 are derived from our consolidated financial statements which are not included in this report.
−Removed: Historical results are not necessarily indicative of future results and should be read in conjunction with the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements, related notes, and other financial information included in this report.
−Removed: Years Ended June 30,
−Removed: In thousands, except per share data 2020 2019 2018 2017 2016
−Removed: Consolidated Statements of Operations and Comprehensive Income Data:
−Removed: $ 1,284,500 $ 1,161,733 $ 1,016,861 $ 865,268 $ 666,395
−Removed: Cost of revenues (1)
−Removed: 676,328 624,129 573,289 469,560 341,600
−Removed: Gross profit 608,172 537,604 443,572 395,708 324,795
−Removed: Operating expenses:
−Removed: Research and development (1)
−Removed: 89,405 82,070 74,324 69,094 57,765
−Removed: Sales, general and administrative (1)
−Removed: 40,569 43,237 43,121 36,853 33,269
−Removed: Litigation settlement — 18,000 — — —
−Removed: Business e-mail compromise (“BEC”)- (recovery)
−Removed: — — — — (8,294)
−Removed: Total operating expenses 129,974 143,307 117,445 105,947 82,740
−Removed: Income from operations 478,198 394,297 326,127 289,761 242,055
−Removed: Interest expense and other, net (28,002) (12,808) (11,985) (4,737) (2,115)
−Removed: Income before income taxes 450,196 381,489 314,142 285,024 239,940
−Removed: Provision for income taxes (2) (3)
−Removed: 69,899 58,795 117,852 27,518 26,324
−Removed: Net Income $ 380,297 $ 322,694 $ 196,290 $ 257,506 $ 213,616
−Removed: Net income per share of common stock:
−Removed: Basic $ 5.81 $ 4.52 $ 2.54 $ 3.16 $ 2.53
−Removed: Diluted $ 5.80 $ 4.51 $ 2.51 $ 3.09 $ 2.49
−Removed: Weighted average shares used in computing net income per share of common stock:
−Removed: Basic 65,427 71,435 77,179 81,478 84,402
−Removed: Diluted 65,514 71,602 78,331 83,252 85,784
−Removed: Cash dividends paid per common share $ 1.20 $ 1.00 $ — $ — $ —
−Removed: (1) Includes stock-based compensation as follows
−Removed: Cost of revenues $ 121 $ 347 $ 360 $ 264 $ 448
−Removed: Research and development 2,022 2,045 1,873 1,861 2,296
−Removed: Sales, general and administrative 745 498 975 660 975
−Removed: Total stock-based compensation $ 2,888 $ 2,890 $ 3,208 $ 2,785 $ 3,719
−Removed: (2) Includes the excess tax benefits resulting from the adoption of ASU 2016-09 Stock Compensation
−Removed: $ — $ — $ (29,091) $ (7,939) $ —
−Removed: (3) Includes Tax Reform
−Removed: $ — $ 2,765 $ 116,572 $ — $ —
−Removed: (4) Effective July 1, 2018, for fiscal year end 2019 and fiscal year end 2020, the Company adopted the new revenue accounting standard (“ASC 606”).
−Removed: As we elected the modified retrospective method of adoption, comparative information from prior periods have not been restated and continues to be reported under the ASC 605, “Revenue Recognition” information.
−Removed: Refer to Note 2, “Significant Accounting Policies” and Note 3, “Revenue” for additional information.
−Removed: In thousands 2020 2019 2018 2017 2016
−Removed: Consolidated Balance Sheet Data:
−Removed: Cash and cash equivalents $ 142,617 $ 238,147 $ 666,681 $ 604,198 $ 551,031
−Removed: Investments – short-term 925 69,866 — — —
−Removed: Investments – long-term 513 31,585 — — —
−Removed: Working capital 322,350 574,625 888,436 853,846 637,721
−Removed: Total assets 737,451 875,865 1,022,577 972,711 747,108
−Removed: Debt – short-term 24,067 30,675 24,425 14,743 10,993
−Removed: Debt – long-term 628,437 464,700 460,352 241,821 191,564
−Removed: Total stockholders’ equity (295,458) 99,277 315,748 601,764 440,376
+Added: Part II, Item 6 is no longer required as the Company has adopted certain provisions within the amendments to Regulation S-K that eliminate Item 301.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.