KAYAK Software Corp (KYAK) [Rocket]

In millions, except per share items	Dec-31-12	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	S-1/A	S-1/A	S-1/A	S-1/A	S-1/A
Revenues:
United States	232.1	184.4	154.7	105.2
Rest of the world	32.8	16.1	7.8	6.2
Germany	27.9	24.0	8.2	1.3
Total revenues	292.7	224.5	170.7	112.7
Revenue growth [+]	30.4%	31.5%	51.5%
United States	25.8%	19.2%	47.1%
Rest of the world	103.8%	106.6%	24.7%
Germany	16.0%	191.6%	547.1%
Cost of goods sold	19.7	18.6	15.6	15.4
Gross profit	273.0	205.9	155.1	97.3
Gross margin	93.3%	91.7%	90.8%	86.4%
Selling, general and administrative [+]	378.2	279.2	223.2	86.6
Sales and marketing	153.3	111.0	91.7	57.4
General and administrative	224.9	168.2	131.5	6.6
Other selling, general and administrative				22.6
Other operating expenses	-153.3	-111.0	-92.2	5.4
EBITDA [+]	48.1	37.7	24.1	10.7
EBITDA growth	27.5%	56.7%	124.1%
EBITDA margin	16.4%	16.8%	14.1%	9.5%
Depreciation	2.7	1.9	2.2	5.4
EBITA	45.4	35.8	21.9	5.4
EBITA margin	15.5%	15.9%	12.8%	4.8%
Amortization of intangibles	5.6	6.6	4.6
EBIT [+]	39.8	29.2	17.3	5.4
EBIT growth	36.2%	69.5%	221.8%
EBIT margin	13.6%	13.0%	10.1%	4.8%
Non-recurring items [+]		15.0	0.5
Asset impairment		15.0
Loss (gain) on disposal of assets			0.5
Interest income, net [+]	0.2	0.1	0.1	0.1
Interest expense				0.3
Interest income	0.2	0.1	0.1	0.4
Other income (expense), net	-1.7	2.0	3.3	-1.3
Pre-tax income	38.3	16.4	20.2	4.1
Income taxes	19.5	6.7	12.1	-2.8
Tax rate	50.9%	40.8%	60.1%
Net income	9.2	-2.0	-3.7	6.9
Net margin	3.2%	-0.9%	-2.2%	6.1%

Basic EPS [+]	$0.45	($0.28)	($0.57)	$1.32
Growth	-259.5%	-51.4%	-143.4%
Diluted EPS [+]	$0.45	($0.28)	($0.57)	$1.32
Growth	-259.3%	-51.4%	-143.4%

Shares outstanding (basic) [+]	20.7	7.3	6.5	5.2
Growth	183.6%	13.1%	23.7%
Shares outstanding (diluted) [+]	20.8	7.3	6.5	5.2
Growth	183.9%	13.1%	23.7%

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