RENTECH, INC. (RTK) [Rocket]

In millions, except per share items	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12	Sep-30-11	Sep-30-10	Sep-30-09
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Fulghum				58.3
Wood Pellets: NEWP	27.8	54.3	32.1
Wood Pellets: Industrial	25.6	7.9	4.1
East Dubuque					224.2	179.9	131.4
Other	97.4	94.2	94.7	133.7	37.4	0.2	0.5
Total revenues [+]	150.7	156.5	130.9	192.0	261.6	180.1	131.9	186.7
Products	87.9	85.8	60.6	141.3	261.3	179.9	131.4	186.4
Services	62.9	70.6	70.3	48.2				0.2
Other		0.1		2.5	0.4	0.2	0.5
Revenue growth [+]	-3.7%	19.5%	-31.8%	-26.6%		36.5%	-29.3%	-14.1%
Wood Pellets: NEWP	-48.9%	69.1%
Wood Pellets: Industrial	222.6%	94.2%
East Dubuque						36.9%
Pasadena				257.1%
Cost of goods sold [+]	157.2	138.5	111.8	189.5	129.8	105.9	215.4	125.9
Cost of product sales	105.3	84.6	54.3	152.9		103.3	106.0	125.9
Cost of services	52.0	53.9	57.4	36.6				0.0
Gross profit	-6.5	18.0	19.2	2.5	131.8	74.2	-83.4	60.8
Gross margin	-4.3%	11.5%	14.7%	1.3%	50.4%	41.2%	-63.3%	32.6%
Selling, general and administrative	32.5	48.9	52.6	46.5	43.7	28.0	28.4	24.1
Research and development						30.0	19.6	21.4
Equity in earnings	-3.7	-0.5	-0.4	-0.2			0.5	0.1
Other operating expenses	15.6	3.4	-0.3	0.1	-15.5	-9.8	-108.5
EBITDA [+]	-39.2	-20.4	-24.2	-35.3	116.3		-12.4	23.7
EBITDA growth	92.1%	-15.6%	-31.5%	-130.4%		-291.5%	-152.2%	-175.4%
EBITDA margin	-26.0%	-13.0%	-18.5%	-18.4%	44.4%	13.2%	-9.4%	12.7%
Depreciation and amortization	22.2	19.5	12.2	11.8	14.8		12.1	9.8
EBIT [+]	-61.4	-39.9	-36.4	-47.1	101.5	23.7	-24.4	14.0
EBIT growth	53.7%	9.8%	-22.9%	-146.5%		-197.0%	-275.0%	-134.1%
EBIT margin	-40.7%	-25.5%	-27.8%	-24.6%	38.8%	13.2%	-18.5%	7.5%
Non-recurring items [+]	116.2	11.3		30.0	16.0	58.7	1.2	0.0
Asset impairment	116.2	11.3		30.0	16.0	58.7	1.2
Loss (gain) on sale of assets								0.0
Interest expense, net [+]	11.0	10.7	3.3	2.3	10.5	16.7	14.2	13.5
Interest expense	11.0	10.7	3.3	2.3	10.5	16.7	14.2	14.1
Interest income								0.6
Other income (expense), net [+]	-1.9	1.3	-1.3	5.1	-5.5	-13.7	-1.9	-0.4
Gain (loss) on debt retirement					-4.8	-13.8	-2.3
Other	1.4	1.1	0.6	-0.3	-0.7	0.1	1.0	-0.4
Pre-tax income	-190.5	-60.6	-40.9	-74.4	69.4	-65.4	-41.7	0.1
Income taxes	-64.3	0.3	-2.4	35.8	4.4	0.0	0.0	0.1
Tax rate	33.8%		5.9%		6.3%			117.3%
Minority interest	-3.6	38.4	0.5	-1.6	41.7	1.1	-0.1
Earnings from continuing ops	-142.1	-27.8	-41.8	-40.4	88.4	-66.5	-84.4	-0.2
Earnings from discontinued ops	299.0	-92.1	6.0	38.9	-37.4		0.0	0.1
Net income	156.9	-119.9	-35.9	-1.5	51.1	-66.5	-84.4	-0.1
Net margin	104.1%	-76.6%	-27.4%	-0.8%	19.5%	-36.9%	-64.0%	-0.1%

Basic EPS [+]	($6.15)	($1.21)	($1.83)	($1.79)	$0.40	($0.30)	($0.39)	$0.00
Growth	408.4%	-34.0%	2.4%	-551.1%		-23.6%	35107.2%	-99.7%
Diluted EPS [+]	($6.15)	($1.21)	($1.83)	($1.79)	$0.38	($0.30)	($0.39)	$0.00
Growth	408.4%	-34.0%	2.4%	-565.9%		-23.6%	35107.2%	-99.7%

Shares outstanding (basic) [+]	23.1	23.0	22.9	22.6	223.2	222.7	216.1	167.6
Growth	0.6%	0.5%	1.1%	-89.9%		3.1%	29.0%	1.3%
Shares outstanding (diluted) [+]	23.1	23.0	22.9	22.6	230.5	222.7	216.1	167.6
Growth	0.6%	0.5%	1.1%	-90.2%		3.1%	29.0%	1.3%

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