CHINA VALVES TECHNOLOGY, INC (CVVT) [Rocket]

In millions, except per share items	Dec-31-10	Dec-31-09	Dec-31-08	Dec-31-07	Dec-31-06
	10-K	10-K	10-K	10-K/A	10-K/A
Revenues	183.7	95.4	0.0	37,036.3	25.5
Revenue growth	92.6%		-100.0%	145046.7%
Cost of goods sold	103.3	48.5	0.4	22,050.0	14.5
Gross profit	80.4	46.8	-0.4	14,986.2	11.0
Gross margin	43.8%	49.1%		40.5%	43.1%
Selling, general and administrative [+]	26.0	13.6	0.6	3,246.0	4.4
Sales and marketing	10.4	6.3			2.2
General and administrative	15.6	7.3	0.6	3,246.0	2.2
Research and development	0.2	0.1		104.5	0.0
Other operating expenses	2.0	0.7	-1.0	2,998.6	0.0
EBITDA [+]	57.1	34.4			7.0
EBITDA growth	66.1%
EBITDA margin	31.1%	36.1%			27.3%
Depreciation and amortization	4.2	1.7			0.4
EBITA	52.9	32.7	0.0	8,637.2	6.6
EBITA margin	28.8%	34.3%		23.3%	25.7%
Amortization of intangibles	0.7	0.3			0.0
EBIT [+]	52.2	32.4	0.0	8,637.2	6.5
EBIT growth	61.1%		-100.0%	131870.1%
EBIT margin	28.4%	34.0%		23.3%	25.6%
Interest expense					0.5
Interest expense					0.5
Other income (expense), net	5.4	-0.5		-156.9	-0.2
Pre-tax income	57.7	31.9	0.0	8,480.3	5.8
Income taxes	14.5	8.6	0.0	1,337.7	1.2
Tax rate	25.1%	26.8%		15.8%	19.8%
Net income	43.2	23.4	0.0	7,142.6	4.7
Net margin	23.5%	24.5%		19.3%	18.3%

Basic EPS [+]	$1.25	$0.76		$178.55	$0.00
Growth	64.8%			152626095.7%
Diluted EPS [+]	$1.25	$0.75		$178.55	$0.00
Growth	65.0%			152626095.7%

Shares outstanding (basic) [+]	34.5	30.8		40.0	40,000.0
Growth	12.3%			-99.9%
Shares outstanding (diluted) [+]	34.7	30.9		40.0	40,000.0
Growth	12.1%			-99.9%

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