SANTARUS INC (SNTS) [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	10-K	10-K	10-K	10-K	10-K
Revenues:
Product sales, net	214.5	88.2	90.2	119.2
Royalty revenue	3.4	3.3	3.6
Promotion revenue		27.3	31.4	23.6
Other license revenue			0.2
Other				29.6
Total revenues [+]	218.0	118.8	125.4	172.5	130.2	94.4	49.2	26.5
Licensing			0.2
Royalties	3.4	3.3	3.6
Products	214.5	88.2	90.2	119.2
Advertising		27.3	31.4	23.6
Revenue growth [+]	83.5%	-5.2%	-27.3%	32.5%	37.9%	91.8%	85.7%	1868.0%
Product sales, net	143.4%	-2.2%	-24.4%
Royalty revenue	3.7%	-7.7%
Promotion revenue		-12.8%	32.7%
Cost of goods sold	15.6	8.9	7.7	8.3	7.3	7.3	4.9	2.1
Gross profit	202.3	109.9	117.6	164.2	122.9	87.1	44.3	24.4
Gross margin	92.8%	92.5%	93.8%	95.2%	94.4%	92.3%	90.0%	92.0%
Selling, general and administrative	86.6	68.2	82.6	105.8	108.0	116.5	89.8	79.4
Research and development	25.8	18.4	17.4	16.2
Other operating expenses	69.6	17.9	28.6	8.0	34.0	18.0	14.0	14.7
EBITDA [+]	26.4	8.5	-8.7	36.2	-17.8	-46.8	-58.9	-69.1
EBITDA growth	209.6%	-198.3%	-124.0%	-303.1%	-61.9%	-20.7%	-14.7%	-16.2%
EBITDA margin	12.1%	7.2%	-6.9%	21.0%	-13.7%	-49.5%	-119.7%	-260.4%
Depreciation	0.6	0.4	0.4	2.0	1.4	0.6	0.6	0.6
EBITA	25.8	8.1	-9.1	34.1	-19.2	-47.3	-59.5	-69.7
EBITA margin	11.8%	6.8%	-7.2%	19.8%	-14.7%	-50.1%	-120.9%	-262.8%
Amortization of intangibles	5.5	2.7	1.9
EBIT [+]	20.3	5.4	-11.0	34.1	-19.2	-47.3	-59.5	-69.7
EBIT growth	274.3%	-149.6%	-132.1%	-278.1%	-59.5%	-20.5%	-14.6%	-15.9%
EBIT margin	9.3%	4.6%	-8.7%	19.8%	-14.7%	-50.1%	-120.9%	-262.8%
Non-recurring items	0.1	0.0	7.1
Interest income, net [+]	-0.3	-0.4	-0.4	-0.3	1.2	3.1
Interest expense	0.3	0.5	0.5	0.5	0.1	0.0
Interest income	0.0	0.0	0.1	0.2	1.3	3.1
Other income (expense), net							3.1	4.7
Pre-tax income	19.9	5.0	-18.4	33.9	-18.0	-44.3	-56.5	-65.0
Income taxes	1.3	0.3	0.1	1.8	0.5	0.0	0.0	0.0
Tax rate	6.6%	6.3%		5.2%		0.0%	0.0%	0.0%
Net income	18.6	4.7	-18.5	32.1	-18.5	-44.3	-56.5	-65.0
Net margin	8.5%	3.9%	-14.7%	18.6%	-14.2%	-46.9%	-114.7%	-245.0%

Basic EPS [+]	$0.30	$0.08	($0.31)	$0.55	($0.36)	($0.87)	($1.19)	($1.66)
Growth	283.7%	-124.5%	-156.8%	-255.0%	-58.8%	-27.3%	-28.1%	-49.1%
Diluted EPS [+]	$0.27	$0.07	($0.31)	$0.54	($0.36)	($0.87)	($1.19)	($1.66)
Growth	261.0%	-123.6%	-158.4%	-250.7%	-58.8%	-27.3%	-28.1%	-49.1%

Shares outstanding (basic) [+]	62.7	60.5	58.7	58.0	51.8	51.1	47.4	39.2
Growth	3.6%	3.1%	1.3%	11.9%	1.5%	7.8%	20.8%	56.6%
Shares outstanding (diluted) [+]	69.2	62.8	58.7	59.7	51.8	51.1	47.4	39.2
Growth	10.1%	6.9%	-1.6%	15.1%	1.5%	7.8%	20.8%	56.6%

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