Titan Energy Worldwide, Inc. (TEWI) [Rocket]

In millions, except per share items	Dec-31-11	Dec-31-10	Dec-31-08	Dec-31-07
	10-K	10-K	10-K	10-K
Revenues:
Power Distribution	9.1	10.1
Gain or Loss on Sale of Fixed Assets	0.0
Other	5.0	4.0
Total revenues [+]	14.1	14.0	9.3	8.8
Products	9.1	10.1
Services	5.0	4.0
Revenue growth [+]	0.2%		4.6%
Power Distribution	-10.1%
Cost of goods sold [+]	10.1	10.2	7.7	7.7
Cost of product sales	7.6	8.3
Cost of services	2.5	1.9
Gross profit	4.0	3.9	1.6	1.1
Gross margin	28.3%	27.5%	17.0%	12.8%
Selling, general and administrative [+]	4.4	4.0	3.2	3.3
Sales and marketing	2.6	2.7
General and administrative	1.8	1.3
Research and development	0.2	0.4
Other operating expenses	1.4	1.7
EBITDA [+]	-2.0	-2.2	-1.5	-2.0
EBITDA growth	-12.4%		-27.3%
EBITDA margin	-14.0%	-16.0%	-15.7%	-22.7%
Depreciation and amortization	0.4	0.3	0.2	0.2
EBIT [+]	-2.3	-2.5	-1.7	-2.2
EBIT growth	-7.1%		-24.1%
EBIT margin	-16.5%	-17.8%	-18.0%	-24.8%
Non-recurring items [+]	-0.1	0.0
Loss (gain) on sale of assets	0.0	0.0
Unusual expense	-0.1
Interest expense	0.5	0.2	0.0	0.3
Interest expense	0.5	0.2	0.0	0.3
Other income (expense), net [+]	-0.7	-0.9	0.0	-0.9
Amortization of financing costs and debt discount	1.1	1.0
Pre-tax income	-3.4	-3.7	-1.7	-3.4
Income taxes	0.0	0.0	0.0	0.0
Tax rate	0.0%	0.0%	0.0%	0.0%
Net income	-3.4	-3.7	-1.7	-3.4
Net margin	-24.4%	-26.2%	-18.6%	-38.2%

Basic EPS [+]	($0.11)	($0.16)	($0.11)	($0.51)
Growth	-30.0%		-78.2%
Diluted EPS [+]	($0.11)	($0.16)	($0.11)	($0.51)
Growth	-30.0%		-78.2%

Shares outstanding (basic) [+]	31.0	23.3	15.6	6.6
Growth	33.5%		134.4%
Shares outstanding (diluted) [+]	31.0	23.3	15.6	6.6
Growth	33.5%		134.4%

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