SolarWinds, Inc. (SWI) [Rocket]

In millions, except per share items	Dec-31-14	Dec-31-13	Dec-31-12	Dec-31-11	Dec-31-10	Dec-31-09	Dec-31-08	Dec-31-07
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
United States, country of domicile	287.0	227.0	187.9	139.3	109.1	85.2
Network management	252.2	222.5	198.5
Systems and application management	134.8	97.1	70.4
MSP and cloud	41.8	15.8
Other				59.0	43.3	31.3
Total revenues [+]	428.7	335.4	269.0	198.4	152.4	116.4	93.1	61.7
Licensing	161.8	135.8	124.0	92.3	75.6	62.4
Subscription	28.0	8.1
Revenue growth [+]	27.8%	24.7%	35.6%	30.2%	30.9%	25.0%	50.9%
United States, country of domicile	26.4%	20.8%	34.9%	27.7%	28.1%
Network management	13.3%	12.1%
Systems and application management	38.8%	37.8%
MSP and cloud	164.3%
Cost of goods sold [+]	45.0	27.3	15.5	7.7	3.7	0.5	3.6	2.3
Cost of maintenance	15.3	11.6	10.2	7.9
Cost of licenses/maintenance agreements	16.4	11.6	8.2	4.1
Cost of licensing	16.4	11.6	8.2	4.1	1.9
Cost of subscriptions	12.7	4.7
Gross profit	383.7	308.1	253.5	190.6	148.7	116.0	89.5	59.5
Gross margin	89.5%	91.9%	94.2%	96.1%	97.6%	99.6%	96.1%	96.4%
Selling, general and administrative [+]	225.6	148.2	108.1	81.9	66.7	56.6	39.1	22.7
Sales and marketing	148.4	99.3	73.0	53.9	43.3	30.5	22.7	12.9
General and administrative	77.2	48.9	35.1	28.1	23.5	26.0	16.5	9.8
Research and development	56.5	37.5	28.8	21.3	15.7	11.2	8.5	5.9
Other operating expenses	-0.7	0.7	2.9	3.6	4.3	4.4
EBITDA [+]	138.9	148.6	132.0	93.7	67.5	46.0	43.4	31.7
EBITDA growth	-6.5%	12.6%	40.9%	38.9%	46.8%	5.9%	36.9%
EBITDA margin	32.4%	44.3%	49.1%	47.3%	44.3%	39.5%	46.6%	51.3%
Depreciation	5.3	5.0	3.4	2.8	2.3	1.5	1.4	0.8
EBITA	133.6	143.7	128.7	90.9	65.2	44.5	42.0	30.9
EBITA margin	31.2%	42.8%	47.8%	45.8%	42.8%	38.2%	45.1%	50.1%
Amortization of intangibles	31.3	21.9	15.0	7.2	3.2	0.7
EBIT [+]	102.3	121.7	113.7	83.8	62.0	43.8	42.0	30.9
EBIT growth	-16.0%	7.1%	35.7%	35.1%	41.6%	4.4%	35.8%
EBIT margin	23.9%	36.3%	42.3%	42.2%	40.7%	37.6%	45.1%	50.1%
Interest expense, net [+]	0.3	-0.2	-0.4	-0.3	1.0	4.0	8.0	9.7
Interest expense	0.7	0.2			1.1	4.3	8.5	10.2
Interest income	0.4	0.4	0.4	0.3	0.2	0.3	0.5	0.5
Other income (expense), net [+]	0.6	-0.4	0.4	0.7	0.1	0.1	-0.9	-0.1
Change in value of contingent liability				-0.7
Other	0.6	-0.4	0.4	0.7	0.1	0.1
Pre-tax income	102.6	121.5	114.5	84.8	61.2	39.9	33.0	21.1
Income taxes	24.5	31.7	33.2	22.4	16.4	10.4	10.7	7.5
Tax rate	23.9%	26.1%	29.0%	26.4%	26.8%	26.1%	32.5%	35.6%
Net income	78.1	89.8	81.3	62.4	44.7	29.5	11.4	6.9
Net margin	18.2%	26.8%	30.2%	31.5%	29.4%	25.3%	12.2%	11.2%

Basic EPS [+]	$1.03	$1.19	$1.10	$0.86	$0.65	$0.58	$0.40	$0.25
Growth	-13.3%	8.9%	27.9%	31.6%	12.7%	42.9%	63.4%
Diluted EPS [+]	$1.02	$1.17	$1.07	$0.84	$0.61	$0.52	$0.40	$0.25
Growth	-13.0%	9.7%	27.5%	36.6%	18.3%	28.4%	63.4%

Shares outstanding (basic) [+]	75.5	75.2	74.2	72.8	68.7	51.0	28.1	28.0
Growth	0.4%	1.4%	1.9%	6.0%	34.5%	81.4%	0.6%
Shares outstanding (diluted) [+]	76.5	76.5	76.0	74.4	72.9	56.8	28.1	28.0
Growth	0.0%	0.6%	2.2%	2.1%	28.2%	102.0%	0.6%

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