Northern Power Systems Corp. (NPS) [Rocket]

In millions, except per share items	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12
	10-K	10-K	10-K	10-K	10-K	S-1/A
Revenues:
Product Sales and Services			44.2	47.3	18.0
Technology Licensing			4.7	3.6
Technology Development			5.1	3.2	0.5
Total revenues [+]	38.6	35.9	54.0	54.0	18.6	27.4
Licensing		0.4	4.7	3.6
Products	33.0	29.4	40.4	44.9	17.1	16.5
Services	5.6	4.9	3.8	2.3	0.9	0.9
Technology services		1.2	5.1	3.2	0.5
Revenue growth [+]	7.4%	-33.5%	0.0%	191.0%	-32.2%
Product Sales and Services			-6.6%	161.9%
Technology Licensing			32.3%
Technology Development			60.6%	509.6%
Cost of goods sold [+]	30.9	33.1	43.8	43.8	17.8	16.0
Cost of product sales	27.5	29.2	38.5	39.1	14.8
Cost of services	3.4	3.9	5.3	4.7	3.0
Gross profit	7.7	2.8	10.2	10.2	0.8	11.4
Gross margin	19.9%	7.9%	18.9%	18.9%	4.3%	41.7%
Selling, general and administrative [+]	6.6	9.8	12.7	13.0	9.9	10.0
Sales and marketing	2.6	3.5	4.2	3.9	3.0	2.9
General and administrative	4.0	6.4	8.5	9.0	6.9	7.1
Research and development	1.9	2.6	3.4	4.8	4.2	4.3
Other operating expenses	-1.5	-1.0				4.7
EBITDA [+]	1.2	-7.9	-5.1	-6.5	-12.4
EBITDA growth	-114.7%	56.1%	-22.0%	-47.2%	64.7%
EBITDA margin	3.0%	-22.1%	-9.4%	-12.1%	-66.6%	-27.4%
Depreciation	0.5	0.5	0.6	0.8	0.8
EBITA	0.7	-8.5	-5.7	-7.3	-13.2	-7.5
EBITA margin	1.7%	-23.6%	-10.5%	-13.5%	-70.9%	-27.4%
Amortization of intangibles	0.0	0.1	0.2	0.2	0.2
EBIT [+]	0.6	-8.6	-5.9	-7.5	-13.4	-7.5
EBIT growth	-107.5%	46.4%	-21.3%	-44.1%	77.8%
EBIT margin	1.7%	-24.0%	-10.9%	-13.8%	-71.9%	-27.4%
Non-recurring items [+]		0.4			0.8	2.1
Asset impairment		0.4
Loss (gain) on sale of assets					0.8
Interest expense	0.1	0.1	0.2	0.3	0.5	0.1
Interest expense	0.1	0.1	0.2	0.3	0.5	0.1
Other income (expense), net [+]	-0.5	0.3	-0.2	0.0	0.2	4.5
Gain (loss) on sale of assets	-1.5	-1.0
Change in fair value of warrants					0.2
Other	-0.5	0.3	-0.2	0.0
Pre-tax income	0.1	-8.8	-6.2	-7.8	-14.5	-5.2
Income taxes	0.0	0.2	1.6	1.0	0.0	1.0
Tax rate	13.2%
Net income	0.1	-8.9	-7.8	-8.8	-18.3	0.0
Net margin	0.2%	-24.9%	-14.4%	-16.3%	-98.3%	0.0%

Basic EPS [+]	$0.00	($0.39)	($0.34)	($0.44)	($4.71)	($821.92)
Growth	-100.6%	13.1%	-22.8%	-90.6%	-99.4%
Diluted EPS [+]	$0.00	($0.39)	($0.34)	($0.44)	($4.71)	($821.92)
Growth	-100.6%	13.1%	-22.8%	-90.6%	-99.4%

Shares outstanding (basic) [+]	23.7	23.2	22.9	19.9	3.9	0.0
Growth	2.1%	1.5%	15.0%	413.4%	25695859.4%
Shares outstanding (diluted) [+]	23.7	23.2	22.9	19.9	3.9	0.0
Growth	2.1%	1.5%	15.0%	413.4%	25695859.4%

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