MModal Inc. (MODL) [Rocket]

In millions, except per share items	Dec-31-11	Dec-31-10	Dec-31-09	Dec-31-08	Dec-31-07	Dec-31-06	Dec-31-05
	10-K	10-K	10-K	10-K	S-1/A	S-1/A	S-1/A
Revenues [+]	443.8	417.3	353.9	171.4
Services	443.8	417.3	353.9
Revenue growth	6.3%	17.9%	106.5%
Cost of goods sold	255.6	259.2	229.7	113.1
Gross profit	188.2	158.1	124.2	58.3
Gross margin	42.4%	37.9%	35.1%	34.0%
Selling, general and administrative	64.2	61.1	53.1	37.3
Research and development	9.6	12.0	9.6	6.1
Equity in earnings		0.7	1.9
Other operating expenses	20.3	14.7	18.9	24.4
EBITDA [+]	94.2	71.9	46.2	5.4
EBITDA growth	31.1%	55.7%	756.2%
EBITDA margin	21.2%	17.2%	13.0%	3.1%
Depreciation and amortization	37.8	33.5	27.0	14.9
EBIT [+]	56.4	38.4	19.2	-9.5
EBIT growth	46.7%	100.3%	-301.7%
EBIT margin	12.7%	9.2%	5.4%	-5.6%
Non-recurring items [+]				91.7
Asset impairment				89.6
Interest expense	29.3	19.3	9.0	3.8
Interest expense	29.3	19.3	9.0	3.8
Other income (expense), net [+]	-5.4	-4.3	0.0	0.1
Gain (loss) on sale of assets		8.8
Gain (loss) on debt retirement		-13.5
Other	-5.4	0.5	0.0
Pre-tax income	21.7	14.9	10.2	-105.0
Income taxes	-43.4	-2.3	1.0	-5.5
Tax rate			9.9%	5.3%
Minority interest	-2.1	-9.2	-7.1	-5.2
Earnings from continuing ops	132.3	26.4	25.4	-99.5
Earnings from discontinued ops	-0.1	0.6	-1.4	-108.5
Net income	132.2	27.0	24.1	-208.0
Net margin	29.8%	6.5%	6.8%	-121.3%

Basic EPS [+]	$2.70	$0.75	$0.73	($4,402.25)
Growth	257.9%	3.0%	-100.0%
Diluted EPS [+]	$2.64	$0.74	$0.73	($4,402.25)
Growth	258.9%	0.3%	-100.0%

Shares outstanding (basic) [+]	49.0	35.0	34.7	0.0
Growth	39.8%	0.9%	153452.0%
Shares outstanding (diluted) [+]	50.1	36.0	34.7	0.0
Growth	39.5%	3.6%	153452.0%

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