WASHINGTON TRUST BANCORP INC (WASH) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
Revenues	219.9	233.7	214.5	198.9	192.9	181.7	170.0	161.3
Revenue growth	-5.9%	8.9%	7.9%	3.1%	6.1%	6.9%	5.4%	2.9%
Cost of goods sold	92.9	95.7	90.9	80.6	77.2	76.4	74.9	70.0
Gross profit	127.0	137.9	123.6	118.3	115.7	105.3	95.0	91.2
Gross margin	57.7%	59.0%	57.6%	59.5%	60.0%	58.0%	55.9%	56.6%
Selling, general and administrative
Sales and marketing	2.6	1.8	1.5	1.5	1.4	1.5	1.5	1.5
General and administrative	3.1	2.9	3.7	2.5	2.4	2.3	2.6	2.7
EBITA	117.5	129.3	114.6	110.2	107.4	95.6	83.9	81.5
EBITA margin	53.4%	55.3%	53.4%	55.4%	55.7%	52.6%	49.3%	50.5%
Amortization of intangibles	0.9	0.9	0.9	0.9	1.0	1.0	1.3	0.9
EBIT	116.6	128.4	113.7	109.2	106.4	94.5	82.6	80.6
EBIT margin	53.0%	55.0%	53.0%	54.9%	55.2%	52.0%	48.6%	50.0%
Pre-tax income	91.2	98.2	89.2	88.2	86.7	77.6	68.9	64.3
Income taxes	19.5	21.3	19.3	19.1	18.3	31.7	22.4	20.9
Tax rate	21.4%	21.7%	21.7%	21.6%	21.1%	40.8%	32.5%	32.4%
Net income	71.5	76.6	69.7	69.0	68.3	45.8	46.4	43.5
Net margin	32.5%	32.8%	32.5%	34.7%	35.4%	25.2%	27.3%	27.0%

Diluted EPS	$4.11	$4.39	$4.00	$3.96	$3.93	$2.64	$2.70	$2.55
Shares outstanding (diluted)	17.4	17.5	17.4	17.4	17.4	17.3	17.2	17.1

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