MEDASSETS INC (MDAS) [Rocket]

In millions, except per share items	Dec-31-14	Dec-31-13	Dec-31-12	Dec-31-11	Dec-31-10	Dec-31-09	Dec-31-08	Dec-31-07
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
SCM	445.6	424.5	393.6	364.0	177.6	162.6	127.9
RCM	274.6	256.0	246.6	214.3	213.7	178.7	151.7	80.5
Administrative fees, net				249.6		163.5	158.6	142.3
Other service fees				114.4		233.1	173.9	93.7
Total revenues	720.2	680.4	640.1	578.3	391.3	341.3	279.7	188.5
Revenue growth [+]	5.9%	6.3%	10.7%	47.8%	14.7%	22.0%	48.3%	28.9%
SCM	5.0%	7.8%	8.1%	104.9%	9.3%	27.1%
RCM	7.3%	3.8%	15.1%	0.3%	19.6%	17.8%	88.4%	64.9%
Administrative fees, net						3.0%	11.5%	13.7%
Other service fees						34.0%	85.5%	55.0%
Cost of goods sold	175.0	154.1	141.0	121.8	100.7	74.7	51.5	28.0
Gross profit	545.2	526.3	499.1	456.5	290.6	266.6	228.1	160.5
Gross margin	75.7%	77.4%	78.0%	78.9%	74.3%	78.1%	81.6%	85.2%
Selling, general and administrative [+]	305.0	293.3	278.6	260.1	171.1	155.9	134.7	100.6
Sales and marketing	67.4	61.4	60.4	57.0	46.7	45.3	43.2	35.7
General and administrative	237.6	231.8	218.2	203.1	124.4	110.7	91.5	64.8
Research and development	31.1	30.9	28.5	26.8	20.0	19.0	16.4	7.8
Other operating expenses	110.1	111.4	106.8	102.9	51.0	41.2	33.2	24.1
Adjusted EBITDA	225.7	210.9	200.7	176.4	114.5	111.5	87.2	57.7
Adjusted EBITDA margin	31.3%	31.0%	31.4%	30.5%	29.3%	32.7%	31.2%	30.6%
Stock-based compensation	17.8	14.5	10.3	5.0	11.5	16.7	8.6	5.6
EBITDA [+]	207.8	196.4	190.5	171.4	103.0	94.9	78.6	52.1
EBITDA growth	5.8%	3.1%	11.1%	66.4%	8.6%	20.7%	50.8%	62.3%
EBITDA margin	28.9%	28.9%	29.8%	29.6%	26.3%	27.8%	28.1%	27.7%
Depreciation	51.2	43.0	32.0	23.6	22.8	15.6	10.5	7.5
EBITA	156.6	153.5	158.4	147.7	80.2	79.2	68.1	44.7
EBITA margin	21.7%	22.6%	24.7%	25.5%	20.5%	23.2%	24.4%	23.7%
Amortization of intangibles	57.6	62.7	73.2	81.1	31.7	28.8	24.3	16.6
EBIT [+]	99.0	90.7	85.2	66.7	48.5	50.5	43.8	28.1
EBIT growth	9.1%	6.5%	27.8%	37.5%	-3.9%	15.2%	55.9%	89.5%
EBIT margin	13.7%	13.3%	13.3%	11.5%	12.4%	14.8%	15.7%	14.9%
Non-recurring items [+]	52.5			24.6	68.0		2.3
Asset impairment	52.5				46.4		2.3
Interest expense	45.6	46.9	66.0	71.1	27.5	18.1	21.3	20.4
Interest expense	45.6	46.9	66.0	71.1	27.5	18.1	21.3	20.4
Other income (expense), net [+]	0.3	0.3	-27.5	3.6	0.7	0.4	-1.9	3.1
Gain (loss) on debt retirement			-28.2
Other	0.3	0.3	0.7	3.6	0.7	0.4	-1.9
Pre-tax income	1.2	44.1	-8.4	-25.3	-46.4	32.8	18.3	10.8
Income taxes	21.6	16.7	-1.5	-9.9	-14.3	12.8	7.5	4.5
Tax rate	1781.0%	37.8%	17.7%	38.9%	30.7%	39.1%	40.9%	41.8%
Net income	-20.4	27.4	-6.9	-15.5	-32.1	19.9	10.8	0.0
Net margin	-2.8%	4.0%	-1.1%	-2.7%	-8.2%	5.8%	3.9%	0.0%

Basic EPS [+]	($0.34)	$0.46	($0.12)	($0.27)	($0.57)	$0.36	$0.22	($0.75)
Growth	-174.2%	-483.9%	-55.7%	-52.5%	-256.5%	67.2%	-128.8%	12.5%
Diluted EPS [+]	($0.34)	$0.45	($0.12)	($0.27)	($0.57)	$0.34	$0.21	($0.75)
Growth	-176.0%	-474.7%	-55.7%	-52.5%	-265.1%	66.3%	-127.5%	12.5%

Shares outstanding (basic) [+]	59.8	59.7	57.5	57.3	56.4	54.8	49.8	0.0
Growth	0.2%	3.9%	0.3%	1.5%	2.9%	10.0%	383780.2%	48.4%
Shares outstanding (diluted) [+]	59.8	61.2	57.5	57.3	56.4	57.9	52.3	0.0
Growth	-2.2%	6.5%	0.3%	1.5%	-2.5%	10.6%	402811.3%	48.4%

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