ATS MEDICAL INC (ATSI) [Rocket]

In millions, except per share items	Dec-31-09	Dec-31-08	Dec-31-07	Dec-31-06	Dec-31-05
	10-K	10-K	10-K	10-K	10-K
Revenues	75.7	65.8	49.6	40.4	34.6
Revenue growth	15.0%	32.7%	22.6%	16.8%
Cost of goods sold	26.8	25.3	21.3	19.6	22.8
Gross profit	48.9	40.6	28.2	20.9	11.8
Gross margin	64.6%	61.6%	56.9%	51.6%	34.1%
Selling, general and administrative [+]	40.5	37.9	35.1	29.8	26.3
Sales and marketing	30.6	27.4	24.6	21.0	18.9
General and administrative	9.9	10.5	10.4	8.8	7.3
Research and development	8.9	8.2	7.5	3.4	1.7
Other operating expenses	3.2	3.5	2.5	0.8
EBITDA [+]	1.5	-3.4	-12.3	-11.2	-14.6
EBITDA growth	-145.2%	-72.2%	9.3%	-23.4%
EBITDA margin	2.0%	-5.2%	-24.7%	-27.7%	-42.2%
Depreciation	2.0	2.1	2.1	1.8	1.6
EBITA	-0.5	-5.5	-14.4	-13.0	-16.2
EBITA margin	-0.7%	-8.4%	-29.0%	-32.2%	-46.7%
Amortization of intangibles	3.2	3.5	2.5	0.1
EBIT [+]	-3.7	-9.0	-16.9	-13.1	-16.2
EBIT growth	-58.8%	-46.5%	28.5%	-18.9%
EBIT margin	-4.9%	-13.7%	-34.0%	-32.5%	-46.7%
Non-recurring items [+]		7.5	4.3	14.4
Asset impairment			0.8
Interest expense, net [+]	2.7	2.7	1.8	1.7	0.3
Interest expense	2.7	2.9	2.5	2.4	0.7
Interest income	0.0	0.2	0.7	0.7	0.3
Other income (expense), net	0.4	0.4	0.1	1.5	2.1
Pre-tax income	-6.0	-18.9	-22.9	-27.7	-14.4
Income taxes	0.3	0.5	0.1	0.0	0.0
Tax rate				0.0%	0.0%
Net income	-6.3	-19.3	-23.0	-27.7	-14.4
Net margin	-8.3%	-29.4%	-46.4%	-68.4%	-41.6%

Basic EPS [+]	($0.09)	($0.31)	($0.44)	($0.83)	($0.46)
Growth	-72.2%	-28.1%	-47.0%	77.8%
Diluted EPS [+]	($0.09)	($0.31)	($0.44)	($0.83)	($0.46)
Growth	-72.2%	-28.1%	-47.0%	77.8%

Shares outstanding (basic) [+]	72.1	61.4	52.6	33.5	31.0
Growth	17.4%	16.8%	56.8%	8.2%
Shares outstanding (diluted) [+]	72.1	61.4	52.6	33.5	31.0
Growth	17.4%	16.8%	56.8%	8.2%

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