ANAREN INC (ANEN) [Rocket]

In millions, except per share items	Dec-31-13	Sep-30-13	Jun-30-13	Mar-31-13	Dec-31-12	Sep-30-12	Jun-30-12	Mar-31-12
	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q
Total revenues	41.8	38.5		39.0	38.0	39.1		34.7
Revenue growth	10.0%	-1.3%		12.3%	6.3%	0.9%		-21.1%
Cost of goods sold	26.7	24.7		24.7	23.0	24.6		23.0
Gross profit	15.1	13.9		14.3	15.0	14.4		11.7
Gross margin	36.2%	36.0%		36.6%	39.5%	36.9%		33.7%
Selling, general and administrative [+]	8.0	6.3		5.9	6.7	7.1		6.8
Sales and marketing	2.4	2.1		2.5	2.4	2.5		2.6
General and administrative	5.6	4.2		3.4	4.3	4.6		4.3
Research and development	3.3	3.2		3.4	3.2	3.3		3.1
EBITDA [+]	5.9	6.4			7.3	6.3		4.3
EBITDA growth	-19.8%	2.0%		15.6%	90.0%	-0.3%		-36.5%
EBITDA margin	14.0%	16.6%		12.6%	19.3%	16.0%		12.3%
Depreciation	1.8	1.8		-0.2	1.9	2.0		2.0
EBITA	4.1	4.6		5.1	5.4	4.3		2.2
EBITA margin	9.7%	11.8%		13.2%	14.2%	11.0%		6.4%
Amortization of intangibles	0.2	0.2		0.2	0.3	0.3		0.5
EBIT [+]	3.8	4.4		4.9	5.1	4.0		1.8
EBIT growth	-24.5%	9.2%		181.2%	260.7%	11.2%		-59.1%
EBIT margin	9.2%	11.3%		12.6%	13.4%	10.2%		5.0%
Interest income, net [+]	0.0	0.0		0.0	0.0	0.0		0.2
Interest expense	0.0	0.0		0.0	0.0	0.0		0.0
Interest income				0.1				0.2
Other income (expense), net	0.1	0.1			0.1	0.2
Pre-tax income	3.9	4.4		4.9	5.2	4.2		1.9
Income taxes	1.2	1.5		-0.4	1.7	1.3		-0.1
Tax rate	29.7%	32.7%			32.1%	32.0%
Net income	2.8	3.0		5.3	3.5	2.9		2.0
Net margin	6.6%	7.7%		13.7%	9.2%	7.3%		5.8%

Basic EPS [+]	$0.22	$0.24		$0.43	$0.28	$0.22		$0.14
Growth	-22.1%	7.4%		200.7%	235.7%	22.7%		-41.0%
Diluted EPS [+]	$0.21	$0.23		$0.41	$0.27	$0.21		$0.14
Growth	-22.1%	8.3%		201.0%	237.1%	22.2%		-40.0%

Shares outstanding (basic) [+]	12.8	12.6		12.5	12.7	13.0		14.1
Growth	1.1%	-2.7%		-11.2%	-10.9%	-8.0%		-0.4%
Shares outstanding (diluted) [+]	13.3	13.2		13.0	13.2	13.7		14.7
Growth	1.0%	-3.5%		-11.3%	-11.2%	-7.6%		-2.0%

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