CommerceHub, Inc. (CHUBA) [Rocket]

In millions, except per share items	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K
Revenues:
Demand channel revenue	9.1	10.1	10.6
Set-up and professional services revenue	7.0	5.7	4.3
Other	95.0	84.7	72.8
Total revenues	111.1	100.6	87.6	65.8
Revenue growth [+]	10.5%	14.8%	33.2%
Demand channel revenue	-10.7%	-3.8%
Set-up and professional services revenue	23.8%	32.6%
Cost of goods sold	21.6	23.1	22.7	12.7
Gross profit	89.5	77.5	64.9	53.1
Gross margin	80.6%	77.1%	74.1%	80.8%
Selling, general and administrative [+]	37.5	41.6	55.6	36.5
Sales and marketing	8.6	11.3	11.3	6.7
General and administrative	28.9	30.3	44.3	29.8
Research and development	25.6	19.2	16.3	10.0
Other operating expenses	-2.3
EBITDA [+]	36.8	26.5	0.8	11.0
EBITDA growth	38.8%	3031.8%	-92.3%
EBITDA margin	33.1%	26.3%	1.0%	16.7%
Depreciation	8.0	8.0	6.0	4.4
EBITA	28.7	18.5	-5.1	6.6
EBITA margin	25.9%	18.4%	-5.9%	10.0%
Amortization of intangibles		1.8	1.8
EBIT [+]	28.7	16.7	-6.9	6.6
EBIT growth	72.2%	-340.2%	-205.4%
EBIT margin	25.9%	16.6%	-7.9%	10.0%
Non-recurring items	2.3
Interest income, net [+]	-0.7	-0.4	0.6	0.7
Interest expense	0.7	0.7
Interest income	0.0	0.3	0.6	0.7
Pre-tax income	25.7	16.3	-6.3	7.3
Income taxes	15.9	7.2	-1.9	2.9
Tax rate	61.7%	44.1%	29.6%	40.6%
Net income	9.9	9.1	-4.5	4.3
Net margin	8.9%	9.0%	-5.1%	6.5%

Basic EPS [+]	$0.23	$0.21	($0.10)	$0.10
Growth	7.4%	-303.0%	-203.7%
Diluted EPS [+]	$0.22	$0.21	($0.10)	$0.10
Growth	6.3%	-296.1%	-203.7%

Dividends per share [+]		$0.46	$0.01	$0.01
Growth	-100.0%	3268.3%	0.0%

Shares outstanding (basic) [+]	43.2	42.8	42.7	42.7
Growth	0.9%	0.3%	0.0%
Shares outstanding (diluted) [+]	45.2	44.3	42.7	42.7
Growth	2.0%	3.8%	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.