Financial Summary (All financials)
In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
Revenues | 922.1 | 539.5 | 457.3 | 530.3 | 523.4 | 556.1 | 361.3 | 289.3 |
Revenue growth | 70.9% | 18.0% | -13.8% | 1.3% | -5.9% | 53.9% | 24.9% | 28.4% |
Cost of goods sold | 461.3 | 279.4 | 235.1 | 269.5 | 272.2 | 281.5 | 176.8 | 139.6 |
Gross profit | 460.8 | 260.2 | 222.2 | 260.8 | 251.2 | 274.6 | 184.5 | 149.7 |
Gross margin | 50.0% | 48.2% | 48.6% | 49.2% | 48.0% | 49.4% | 51.1% | 51.7% |
Sales and marketing | 28.8 | 24.8 | 25.1 | 29.3 | 25.9 | 25.8 | 20.2 | 16.3 |
Research and development | 164.3 | 121.8 | 110.3 | 102.0 | 102.1 | 92.4 | 71.2 | 60.9 |
General and administrative | 21.8 | 15.6 | 17.9 | 17.6 | 16.9 | 17.1 | 15.7 | 13.4 |
EBITA | 245.9 | 98.0 | 68.9 | 111.9 | 106.3 | 139.4 | 77.5 | 59.1 |
EBITA margin | 26.7% | 18.2% | 15.1% | 21.1% | 20.3% | 25.1% | 21.4% | 20.4% |
Amortization of intangibles | | | 0.8 | 3.0 | 2.5 | 2.1 | 1.1 | |
EBIT | 245.9 | 98.0 | 68.1 | 108.9 | 103.8 | 137.3 | 76.4 | 59.1 |
EBIT margin | 26.7% | 18.2% | 14.9% | 20.5% | 19.8% | 24.7% | 21.2% | 20.4% |
Pre-tax income | 247.3 | 85.6 | 72.1 | 109.9 | 99.0 | 138.6 | 78.5 | 60.6 |
Income taxes | 47.3 | 5.8 | 7.7 | 11.8 | 24.0 | 27.7 | 18.2 | 16.1 |
Tax rate | 19.1% | 6.8% | 10.7% | 10.7% | 24.3% | 20.0% | 23.2% | 26.6% |
Net income | 200.0 | 79.7 | 64.4 | 98.1 | 75.0 | 110.9 | 60.3 | 44.5 |
Net margin | 21.7% | 14.8% | 14.1% | 18.5% | 14.3% | 19.9% | 16.7% | 15.4% |
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Diluted EPS | $5.72 | $2.28 | $1.82 | $2.71 | $2.09 | $3.12 | $1.73 | $0.33 |
Shares outstanding (diluted) | 35.0 | 35.0 | 35.3 | 36.1 | 35.9 | 35.5 | 34.9 | 136.8 |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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