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
Net sales	41.8	38.5		39.0	38.0	39.1		34.7
Net sales growth	10.0%	-1.3%		12.3%	6.3%	0.9%		-21.1%
Cost of sales	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	100.0%	100.0%		100.0%	100.0%	100.0%		100.0%

Operating Expenses:
Marketing	2.4	2.1		2.5	2.4	2.5		2.6
Research and development	3.3	3.2		3.4	3.2	3.3		3.1
General and administrative	5.6	4.2		3.4	4.3	4.6		4.3
Total operating expenses	11.3	9.5		9.3	9.9	10.4		9.9
Operating income	3.8	4.4		4.9	5.1	4.0		1.8
Operating margin	100.0%	100.0%		100.0%	100.0%	100.0%		100.0%

Other income (expense):
Interest expense	0.0	0.0		0.0	0.0	0.0		0.0
Other income	0.1	0.1		0.0	0.1	0.2		-0.2
Total other income, net	0.0	0.0		0.0	0.0	0.0		0.2
Income before income tax expense	3.9	4.4			5.2	4.2
Income tax expense	1.2	1.5		-0.4	1.7	1.3		-0.1
Net income	2.8	3.0		5.3	3.5	2.9		2.0

Earnings per share:
Basic (in Dollars per share)	$0.22	$0.24		$0.43	$0.28	$0.22		$0.14
Diluted (in Dollars per share)	$0.21	$0.23		$0.41	$0.27	$0.21		$0.14

Weighted average common shares outstanding:
Basic (in Shares)	12.8	12.6		12.5	12.7	13.0		14.1
Diluted (in Shares)	13.3	13.2		13.0	13.2	13.7		14.7