Emergent BioSolutions Inc. (EBS) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
Revenues	1,792.7	1,555.4	1,106.0	782.4	560.9	488.8	489.3	404.5
Revenue growth	15.3%	40.6%	41.4%	39.5%	14.8%	-0.1%	21.0%	29.3%
Cost of goods sold	757.5	524.0	433.5	322.3	187.7	126.3	107.5	102.0
Gross profit	1,035.2	1,031.4	672.5	460.1	373.2	362.5	381.8	302.5
Gross margin	57.7%	66.3%	60.8%	58.8%	66.5%	74.2%	78.0%	74.8%
Selling, general and administrative	348.4	303.3	273.5	202.5	142.9	143.1	121.1	108.6
Research and development	234.0	234.5	226.2	142.8	97.4	106.9	119.2	104.7
EBITA	455.7	525.3	172.8	114.8	132.9	112.5	148.9	96.2
EBITA margin	25.4%	33.8%	15.6%	14.7%	23.7%	23.0%	30.4%	23.8%
Amortization of intangibles	58.5	59.8	58.7	25.0	8.6	7.0	7.4	7.0
EBIT	397.2	465.5	114.1	89.8	124.3	105.5	141.5	89.2
EBIT margin	22.2%	29.9%	10.3%	11.5%	22.2%	21.6%	28.9%	22.1%
Pre-tax income	314.4	407.2	77.4	81.5	118.6	99.2	135.7	84.2
Income taxes	83.5	102.1	22.9	18.8	36.0	36.7	44.3	29.9
Tax rate	26.6%	25.1%	29.6%	23.1%	30.4%	37.0%	32.6%	35.5%
Earnings from continuing ops	230.9	305.1	54.5	62.7	82.6	109.9	164.3	108.5
Earnings from discontinued ops						-10.7	-28.5	-17.5
Net income	230.9	305.1	54.5	62.7	82.6	99.2	135.7	91.0
Net margin	12.9%	19.6%	4.9%	8.0%	14.7%	20.3%	27.7%	22.5%

Diluted EPS	$4.27	$5.67	$1.04	$1.22	$1.64	$2.23	$3.48	$2.37
Shares outstanding (diluted)	54.1	53.8	52.4	51.4	50.3	49.3	47.3	45.8

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