Financial Summary (All financials)
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 | 1,151.0 | 1,074.8 | 963.9 | 994.9 | 882.8 | 727.9 | 603.8 | 542.1 |
Revenue growth | 7.1% | 11.5% | -3.1% | 12.7% | 21.3% | 20.5% | 11.4% | 6.4% |
Cost of goods sold | 631.9 | 589.4 | 562.7 | 562.5 | 488.0 | 401.6 | 338.8 | 306.4 |
Gross profit | 519.1 | 485.3 | 401.2 | 432.4 | 394.8 | 326.3 | 265.0 | 235.8 |
Gross margin | 45.1% | 45.2% | 41.6% | 43.5% | 44.7% | 44.8% | 43.9% | 43.5% |
Selling, general and administrative | 342.5 | 335.7 | 297.7 | 327.3 | 276.0 | 229.1 | 184.4 | 156.3 |
Research and development | 75.5 | 71.2 | 57.5 | 65.6 | 59.5 | 51.4 | 45.2 | 40.8 |
EBITA | 144.9 | 114.8 | 93.8 | 100.4 | 100.5 | 60.7 | 54.6 | 52.3 |
EBITA margin | 12.6% | 10.7% | 9.7% | 10.1% | 11.4% | 8.3% | 9.0% | 9.7% |
Amortization of intangibles | 48.4 | 49.6 | 58.6 | 60.7 | 41.2 | 26.8 | 19.3 | 14.8 |
EBIT | 96.5 | 65.2 | 35.2 | 39.7 | 59.3 | 33.9 | 35.3 | 37.5 |
EBIT margin | 8.4% | 6.1% | 3.7% | 4.0% | 6.7% | 4.7% | 5.9% | 6.9% |
Pre-tax income | 82.6 | 53.9 | -13.2 | 2.2 | 49.5 | 35.9 | 25.4 | 31.2 |
Income taxes | 8.1 | 5.5 | -3.4 | -3.3 | 7.5 | 8.4 | 5.3 | 7.4 |
Tax rate | 9.8% | 10.1% | 25.6% | | 15.1% | 23.3% | 20.7% | 23.7% |
Net income | 74.5 | 48.5 | -9.8 | 5.5 | 42.0 | 27.5 | 20.1 | 23.8 |
Net margin | 6.5% | 4.5% | -1.0% | 0.5% | 4.8% | 3.8% | 3.3% | 4.4% |
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Diluted EPS | $1.29 | $0.84 | ($0.18) | $0.10 | $0.78 | $0.55 | $0.45 | $0.53 |
Shares outstanding (diluted) | 57.7 | 57.4 | 55.4 | 56.2 | 53.9 | 50.1 | 44.9 | 44.5 |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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