Blue Buffalo Pet Products, Inc. (BUFF) [Rocket]

In millions, except per share items	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13
	10-K	10-K	10-K	10-K	10-K
Revenues	1,274.6	1,149.8	1,027.4	917.8	719.5
Revenue growth	10.9%	11.9%	12.0%	27.6%
Cost of goods sold	685.5	634.1	608.6	550.9	421.9
Gross profit	589.1	515.7	418.8	366.9	297.6
Gross margin	46.2%	44.9%	40.8%	40.0%	41.4%
Selling, general and administrative	285.8	262.8	226.7	187.9	139.0
EBITDA [+]	313.8	262.1	200.3	183.9	159.9
EBITDA growth	19.7%	30.9%	8.9%	15.0%
EBITDA margin	24.6%	22.8%	19.5%	20.0%	22.2%
Depreciation and amortization	10.5	9.2	8.2	4.9	1.3
EBIT [+]	303.2	252.9	192.1	179.0	158.6
EBIT growth	19.9%	31.7%	7.3%	12.8%
EBIT margin	23.8%	22.0%	18.7%	19.5%	22.0%
Non-recurring items [+]		32.0	32.0
Loss on contingent liability		32.0	32.0
Interest expense, net [+]	9.7	14.1	14.8	13.7	20.5
Interest expense	11.1	14.6	15.1	13.9	20.6
Interest income	1.4	0.5	0.3	0.2	0.1
Other income (expense), net [+]	-0.2				-15.9
Gain (loss) on debt retirement					-15.9
Other	-0.2
Pre-tax income	293.3	206.8	145.3	165.3	122.2
Income taxes	99.8	76.6	55.9	63.4	44.0
Tax rate	34.0%	37.0%	38.5%	38.3%	36.0%
Net income	193.5	130.2	89.4	101.9	78.2
Net margin	15.2%	11.3%	8.7%	11.1%	10.9%

Basic EPS [+]	$0.99	$0.66	$0.46	$0.52	$0.40
Growth	48.7%	45.4%	-12.4%	30.2%
Diluted EPS [+]	$0.97	$0.65	$0.45	$0.52	$0.40
Growth	48.9%	44.8%	-12.4%	29.4%

Shares outstanding (basic) [+]	196.3	196.4	195.9	195.7	195.6
Growth	-0.1%	0.2%	0.1%	0.1%
Shares outstanding (diluted) [+]	198.9	199.3	198.0	197.9	196.6
Growth	-0.2%	0.7%	0.1%	0.7%

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