NETGEAR, INC. (NTGR) [Rocket]

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
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Connected Home	853.5	1,007.5	711.4	771.1	768.3		937.2
SMB	314.6	247.7	287.4	287.8	270.9		271.8
Retail								508.1
Commercial								305.7
Other							91.6	579.7
Total revenues	1,168.1	1,255.2	998.8	1,058.8	1,039.2	1,143.4	1,300.7	1,393.5
Revenue growth [+]	-6.9%	25.7%	-5.7%	1.9%	-9.1%	-12.1%	-6.7%	1.7%
Connected Home	-15.3%	41.6%	-7.7%	0.4%
SMB	27.0%	-13.8%	-0.1%	6.2%
Retail								-0.4%
Commercial								-1.8%
Service Provider							-27.3%	5.7%
Cost of goods sold	802.2	883.1	704.5	717.1	731.5	769.5	933.0	995.6
Gross profit	365.8	372.2	294.2	341.7	307.7	373.9	367.7	397.9
Gross margin	31.3%	29.6%	29.5%	32.3%	29.6%	32.7%	28.3%	28.6%
Selling, general and administrative [+]	205.6	209.0	187.6	217.4	193.0	193.6	192.1	203.6
Sales and marketing	146.0	147.9	138.2	152.6	138.7	139.6	146.8	157.0
General and administrative [+]	59.7	61.1	49.4	64.9	54.3	54.0	45.3	46.6
General and administrative expenses	59.7	61.1	49.4	64.9	54.3	54.0	45.3	46.6
Research and development	93.0	88.8	78.0	82.4	71.9	70.9	86.5	90.9
Other operating expenses	-2.8	-3.2	0.2	3.1	0.1
EBITDA [+]	83.9	96.5	47.8	57.6	65.2	139.3	124.9	139.0
EBITDA growth	-13.0%	101.7%	-16.9%	-11.7%	-53.2%	11.5%	-10.2%	0.3%
EBITDA margin	7.2%	7.7%	4.8%	5.4%	6.3%	12.2%	9.6%	10.0%
Depreciation	11.9	12.7	12.4	10.6	11.5	14.2	18.6	17.7
EBITA	72.0	83.8	35.4	47.0	53.7	125.1	106.4	121.3
EBITA margin	6.2%	6.7%	3.5%	4.4%	5.2%	10.9%	8.2%	8.7%
Amortization of intangibles	2.0	6.2	7.0	8.3	11.0	15.7	17.3	17.9
EBIT [+]	70.0	77.6	28.4	38.7	42.7	109.4	89.1	103.4
EBIT growth	-9.7%	172.7%	-26.5%	-9.2%	-61.0%	22.8%	-13.9%	-2.2%
EBIT margin	6.0%	6.2%	2.8%	3.7%	4.1%	9.6%	6.8%	7.4%
Non-recurring items [+]	3.4	2.0	2.2		0.1	3.9	3.7	75.4
Asset impairment								74.2
Legal settlement						0.1	-2.7	-1.0
Interest income				4.0	2.1	1.2	0.3	0.3
Interest income				4.0	2.1	1.2	0.3	0.3
Other income (expense), net [+]	-1.1	-4.7	3.4	0.5	1.6	-0.2	-0.1	2.5
Other	-1.1	-4.7	3.4	0.5	1.6	-0.2	-0.1	2.5
Pre-tax income	65.5	70.8	29.6	43.2	46.2	106.5	85.6	30.8
Income taxes	16.1	12.5	3.8	25.9	57.4	36.2	37.0	22.0
Tax rate	24.6%	17.7%	12.8%	59.9%	124.1%	34.0%	43.2%	71.4%
Earnings from continuing ops	49.4	58.3	25.8	35.7	-30.6	70.3	48.6	8.8
Earnings from discontinued ops				-35.7	30.6	5.5
Net income	49.4	58.3	25.8	0.0	0.0	75.9	48.6	8.8
Net margin	4.2%	4.6%	2.6%	0.0%	0.0%	6.6%	3.7%	0.6%

Basic EPS [+]	$1.63	$1.95	$0.83	$1,127.40	($952.39)	$2.15	$1.47	$0.25
Growth	-16.2%	133.9%	-99.9%	-218.4%	-44471.6%	46.5%	496.4%	-82.9%
Diluted EPS [+]	$1.59	$1.90	$0.81	$1,075.99	($952.39)	$2.08	$1.44	$0.24
Growth	-16.3%	135.8%	-99.9%	-213.0%	-45785.5%	45.0%	496.3%	-83.0%

Shares outstanding (basic) [+]	30.2	29.9	30.9	0.0	0.0	32.8	33.2	35.8
Growth	1.2%	-3.4%	97718.3%	-1.5%	-99.9%	-1.2%	-7.3%	-6.8%
Shares outstanding (diluted) [+]	31.0	30.6	32.0	0.0	0.0	33.7	33.8	36.4
Growth	1.2%	-4.1%	96363.2%	3.2%	-99.9%	-0.2%	-7.3%	-6.4%

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