CRT PROPERTIES INC (CRO) [Rocket]

In millions, except per share items	Dec-31-04	Dec-31-03	Dec-31-02	Dec-31-01
	10-K	10-K	10-K	10-K
Revenues	167.2	146.4	129.8	169.7
Revenue growth	14.2%	12.8%	-23.5%
Cost of goods sold	0.0	0.0	0.0	0.0
Gross profit	167.2	146.4	129.8	169.7
Gross margin	100.0%	100.0%	100.0%	100.0%
Selling, general and administrative [+]	13.2	11.3	11.5	8.6
Sales and marketing	0.2	0.1	0.1	0.2
General and administrative	13.1	11.1	11.4	8.4
Other operating expenses	106.6	89.6	77.5	60.9
EBITDA [+]	89.1	78.2	68.7	135.3
EBITDA growth	13.9%	13.9%	-49.2%
EBITDA margin	53.3%	53.4%	52.9%	79.7%
Depreciation and amortization	41.6	32.7	27.9	35.1
EBIT [+]	47.4	45.5	40.8	100.2
EBIT growth	4.2%	11.7%	-59.3%
EBIT margin	28.4%	31.1%	31.4%	59.0%
Non-recurring items	0.2	0.6	0.0	39.2
Interest income	0.4	0.3	0.4	0.8
Interest income	0.4	0.3	0.4	0.8
Other income (expense), net	-38.1	-30.5	-24.3	12.1
Pre-tax income	9.6	14.8	16.8	73.9
Income taxes	0.0	0.1	0.4	0.7
Tax rate	0.0%	0.6%	2.5%	0.9%
Minority interest	-0.1		0.0	-1.0
Net income	9.6	14.7	16.4	73.2
Net margin	5.7%	10.0%	12.7%	43.1%

Basic EPS [+]	$0.36	$0.69	$0.77	$2.76
Growth	-48.2%	-10.8%	-72.0%
Diluted EPS [+]	$0.36	$0.69	$0.77	$2.75
Growth	-48.2%	-10.8%	-71.9%

Shares outstanding (basic) [+]	26.8	21.3	21.3	26.5
Growth	25.6%	0.3%	-19.8%
Shares outstanding (diluted) [+]	26.8	21.3	21.3	26.6
Growth	25.6%	0.3%	-20.1%

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