CEPHEID (CPHD) [Rocket]

In millions, except per share items	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12	Dec-31-11	Dec-31-10	Dec-31-09	Dec-31-08
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Clinical	509.9	441.1	359.9	286.3	236.1	173.8	124.0
Non-Clinical	28.7	29.0	41.4	44.9	41.5	33.1	41.1
Other						5.6	5.4
Total revenues [+]	538.6	470.1	401.3	331.2	277.6	212.5	170.6	169.6
Royalties	115.8	96.9	80.2	71.7	59.4			43.3
Products					277.6	206.9	165.2	159.4
Other						5.6	5.4	10.2
Revenue growth [+]	14.6%	17.2%	21.2%	19.3%	30.6%	24.5%	0.6%	31.0%
Clinical	15.6%	22.6%	25.7%	21.3%	35.8%	40.1%
Non-Clinical	-1.2%	-29.9%	-7.9%	8.2%	25.5%	-19.6%
Cost of goods sold [+]	275.7	234.5	215.4	160.5	127.7	111.9	103.7	100.8
Cost of product sales	269.9	229.3	207.9	153.4	122.8	105.1	95.5	89.7
Other cost of sales					4.9	6.8	8.2	11.1
Contract costs	5.8	5.2	7.5	7.2
Gross profit	262.9	235.7	185.8	170.7	149.9	100.5	66.9	68.8
Gross margin	48.8%	50.1%	46.3%	51.5%	54.0%	47.3%	39.2%	40.6%
Selling, general and administrative [+]	178.0	152.9	121.7	105.2	86.7	63.4	50.4	50.6
Sales and marketing	115.4	97.8	79.9	61.9	50.7	38.8	29.2	29.8
General and administrative	62.6	55.0	41.7	43.3	36.0	24.5	21.3	20.9
Research and development	115.8	96.9	80.2	71.7	59.4	42.5	39.3	43.3
Other operating expenses			-1.3			-0.3
EBITDA [+]	-3.6	7.5	3.1	7.2	14.1	4.3	-14.1	-11.9
EBITDA growth	-148.0%	145.8%	-57.7%	-48.8%	229.6%	-130.5%	18.3%	-19.3%
EBITDA margin	-0.7%	1.6%	0.8%	2.2%	5.1%	2.0%	-8.2%	-7.0%
Depreciation	21.0	16.9	12.4	8.5	3.8	2.4	2.0	7.6
EBITA	-24.6	-9.3	-9.3	-1.2	10.3	1.9	-16.1	-19.5
EBITA margin	-4.6%	-2.0%	-2.3%	-0.4%	3.7%	0.9%	-9.4%	-11.5%
Amortization of intangibles	6.3	4.7	5.4	5.0	6.5	7.0	6.8	5.6
EBIT [+]	-30.9	-14.1	-14.7	-6.2	3.8	-5.0	-22.9	-25.1
EBIT growth	119.1%	-4.2%	136.7%	-262.9%	-175.6%	-77.9%	-8.9%	-0.2%
EBIT margin	-5.7%	-3.0%	-3.7%	-1.9%	1.4%	-2.4%	-13.4%	-14.8%
Non-recurring items [+]		20.0	1.3	15.1		0.3	0.5	-1.5
Asset impairment			1.3			0.3
Legal settlement		20.0		15.1			-0.2	-1.5
Interest expense, net [+]	12.8	11.5	0.1	0.1	0.5	0.2	-0.1	-1.2
Interest expense	14.7	12.6	0.1	0.1	0.5	0.3	0.3	0.0
Interest income	1.9	1.1	0.0	0.0	0.0	0.2	0.4	1.2
Other income (expense), net [+]	-3.6	-2.0	-0.7	0.1	-0.7	-0.8	0.4	-0.9
Gain (loss) on foreign currency transactions	-3.6	-2.0	-0.7	0.1	-0.7	-0.8	0.4	-0.9
Other	-16.4	-13.5	-0.8	0.0	-1.1	-1.0	0.4	0.4
Pre-tax income	-47.3	-47.6	-16.8	-21.3	2.7	-6.3	-22.9	-23.3
Income taxes	1.3	2.6	1.1	-1.3	0.0	-0.4	-0.4	-0.9
Tax rate				6.0%	1.7%	6.6%	1.9%	3.9%
Net income	-48.5	-50.1	-18.0	-20.0	2.6	-5.9	-22.5	-22.4
Net margin	-9.0%	-10.7%	-4.5%	-6.1%	0.9%	-2.8%	-13.2%	-13.2%

Basic EPS [+]	($0.67)	($0.72)	($0.27)	($0.30)	$0.04	($0.10)	($0.39)	($0.39)
Growth	-5.7%	168.9%	-12.6%	-827.3%	-142.3%	-74.4%	-1.4%	-2.0%
Diluted EPS [+]	($0.67)	($0.72)	($0.27)	($0.30)	$0.04	($0.10)	($0.39)	($0.39)
Growth	-5.7%	168.9%	-12.6%	-873.8%	-139.7%	-74.4%	-1.4%	-2.0%

Shares outstanding (basic) [+]	71.9	70.1	67.5	65.8	62.7	59.7	58.2	57.1
Growth	2.7%	3.8%	2.5%	4.9%	5.1%	2.6%	1.9%	3.3%
Shares outstanding (diluted) [+]	71.9	70.1	67.5	65.8	66.8	59.7	58.2	57.1
Growth	2.7%	3.8%	2.5%	-1.4%	11.8%	2.6%	1.9%	3.3%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.