In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 |
| 10-K | 10-K | 10-K | 10-K |
Revenues: |
Italy | 19.2 | 18.4 | 1.5 | |
United States | 669.2 | 674.5 | 502.7 | 368.7 |
Electronic Systems | | | | 199.3 |
Total revenues | 688.4 | 692.8 | 504.2 | 368.7 |
Revenue growth [+] | -0.6% | 37.4% | 36.8% | |
Italy | 4.8% | 1109.2% | | |
United States | -0.8% | 34.2% | 36.3% | |
Cost of goods sold | 434.8 | 406.0 | 295.9 | 219.9 |
Gross profit | 253.7 | 286.8 | 208.2 | 148.8 |
Gross margin | 36.8% | 41.4% | 41.3% | 40.4% |
Selling, general and administrative | 150.7 | 116.8 | 70.9 | 62.4 |
Research and development | 29.1 | 28.3 | 23.5 | 20.6 |
Other operating expenses | 1.5 | 26.5 | 7.6 | 4.3 |
EBITDA [+] | 82.4 | 126.7 | 114.2 | 70.3 |
EBITDA growth | -34.9% | 11.0% | 62.4% | |
EBITDA margin | 12.0% | 18.3% | 22.6% | 19.1% |
Depreciation | 10.1 | 11.5 | 7.9 | 8.8 |
EBITA | 72.3 | 115.2 | 106.3 | 61.5 |
EBITA margin | 10.5% | 16.6% | 21.1% | 16.7% |
Amortization of intangibles | 14.7 | 14.0 | 11.1 | 10.5 |
EBIT [+] | 57.7 | 101.2 | 95.2 | 51.0 |
EBIT growth | -43.0% | 6.3% | 86.6% | |
EBIT margin | 8.4% | 14.6% | 18.9% | 13.8% |
Non-recurring items [+] | 6.9 | 23.7 | 9.7 | 4.9 |
Asset impairment | 2.4 | | | |
Restructuring charges | 4.5 | 23.7 | 9.7 | 4.9 |
Interest expense | 40.2 | 39.1 | 43.8 | 50.4 |
Interest expense | 40.2 | 39.1 | 43.8 | 50.4 |
Other income (expense), net [+] | 67.8 | -55.1 | | |
Gain (loss) on debt retirement | | 13.7 | | |
Change in fair value of warrants | -57.0 | 32.6 | | |
Change in value of contingent liability | -10.7 | 8.9 | | |
Pre-tax income | 78.3 | -16.7 | 41.7 | -4.3 |
Income taxes | 4.5 | 10.4 | 8.8 | -4.9 |
Tax rate | 5.7% | | 21.2% | 113.0% |
Net income | 73.8 | -27.1 | 32.9 | 0.6 |
Net margin | 10.7% | -3.9% | 6.5% | 0.2% |
|
Basic EPS [+] | $0.63 | ($0.30) | $0.49 | $0.01 |
Growth | -309.4% | -162.1% | 5756.9% | |
Diluted EPS [+] | $0.63 | ($0.30) | $0.49 | $0.01 |
Growth | -308.6% | -162.1% | 5756.9% | |
|
Dividends per share [+] | | | $0.00 | $0.01 |
Growth | | -100.0% | -76.0% | |
|
Shares outstanding (basic) [+] | 116.8 | 90.0 | 67.7 | 67.7 |
Growth | 29.8% | 32.9% | 0.0% | |
Shares outstanding (diluted) [+] | 117.2 | 90.0 | 67.7 | 67.7 |
Growth | 30.3% | 32.9% | 0.0% | |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |