Gentium S.p.A. (GENT) [Rocket]

In millions, except per share items	Dec-31-13	Dec-31-12	Dec-31-11	Dec-31-10	Dec-31-09
	20-F	20-F	20-F	S-1/A	20-F
Revenues:
United States	2.6	2.2	2.6
UK	21.5	13.3	12.2
Other	18.8	13.5	9.1
Total revenues [+]	42.9	29.0	23.9	24.6	10.2
Products	39.8	27.6	21.7		9.7
Other	0.5	0.2	0.1		0.1
Revenue growth [+]	47.8%	21.6%	-2.7%	141.5%
United States	18.8%	-15.1%
UK	61.4%	9.3%
Cost of goods sold	6.1	5.8	6.0	5.8	4.0
Gross profit	36.9	23.3	17.8	18.8	6.2
Gross margin	85.9%	80.1%	74.7%	76.4%	60.6%
Selling, general and administrative [+]	12.9	10.8	7.7	5.8	6.0
General and administrative				5.8	6.0
Research and development	15.7	10.5	5.5	6.1	3.5
Other operating expenses	0.2	0.2	0.2	0.3	0.3
EBITDA [+]	8.6	2.2	4.8	6.9	-3.3
EBITDA growth	294.9%	-55.0%	-30.2%	-310.4%
EBITDA margin	19.9%	7.5%	20.2%	28.1%	-32.2%
Depreciation and amortization	1.5	1.5	1.3	1.3	1.3
EBIT [+]	7.1	0.7	3.5	5.6	-4.6
EBIT growth	895.4%	-79.6%	-37.3%	-221.7%
EBIT margin	16.5%	2.5%	14.6%	22.7%	-45.0%
Non-recurring items				1.1
Interest income, net [+]	0.2	0.2	0.0	-0.1	-0.1
Interest expense			0.0	0.1	0.1
Interest income	0.2	0.2
Other income (expense), net [+]	0.1	-0.1	0.0	-3.2	0.2
Gain (loss) on foreign currency transactions	0.1	-0.1	0.0	0.1	0.2
Pre-tax income	7.4	0.8	3.5	1.2	-4.5
Income taxes	-17.2	0.0	0.8	-0.4	0.0
Tax rate		3.3%	23.0%		0.0%
Net income	24.6	0.8	2.7	20.1	-4.5
Net margin	57.3%	2.7%	11.3%	81.8%	-44.5%

Basic EPS [+]	$1.61	$0.05	$0.18	$1.34	($0.30)
Growth	3026.9%	-71.5%	-86.5%	-543.8%
Diluted EPS [+]	$1.48	$0.05	$0.18	$1.34	($0.30)
Growth	2894.1%	-72.0%	-86.8%	-543.8%

Shares outstanding (basic) [+]	15.3	15.0	15.0	15.0	15.0
Growth	1.6%	0.3%	0.1%	0.0%
Shares outstanding (diluted) [+]	16.6	15.6	15.3	15.0	15.0
Growth	6.2%	1.9%	2.6%	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.