NOVA LTD. (NVMI) [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
	20-F	20-F	20-F	20-F	20-F	20-F	20-F	20-F
Revenues:
China	87.4	51.2	40.5	45.2	35.5	0.0	0.0	0.0
Taiwan, R.O.C.	154.0	88.9	83.2	77.9	68.8	0.0	0.0
Korea	45.8	45.8	20.2	52.7	62.2	0.0	0.0
Other	33.3	21.6	24.7	30.1	17.8		0.0
Other	95.7	62.0	56.2	45.2	37.7	163.9	148.5	120.6
Total revenues [+]	416.1	269.4	224.9	251.1	222.0	163.9	148.5	120.6
Products							111.2	92.2
Services							37.3	28.4
Revenue growth [+]	54.5%	19.8%	-10.4%	13.1%	35.4%	10.4%	23.1%	8.2%
China	70.7%	26.4%	-10.4%	27.3%	18694063057.9%	216.7%	50.0%
Taiwan, R.O.C.	73.2%	6.8%	6.9%	13.1%	15292782122.2%	2.3%
Korea	-0.1%	126.3%	-61.6%	-15.2%	38848599900.0%	-15.8%
Other	54.5%	-12.9%	-17.9%	69.7%
Customer A	84.2%	15.3%	20.9%	-1.6%
Cost of goods sold [+]	178.8	116.5	103.1	105.9	90.8	88.6	71.4	57.0
Cost of product sales							50.7	39.8
Cost of services							20.7	17.2
Other cost of sales						12.9
Gross profit	237.4	152.9	121.8	145.2	131.2	75.3	77.1	63.6
Gross margin	57.0%	56.8%	54.2%	57.8%	59.1%	45.9%	51.9%	52.7%
Selling, general and administrative [+]	56.7	41.8	38.3	36.7	32.7	28.4	24.5	17.2
Sales and marketing	39.3	29.3	28.2	28.0	24.6	21.5	16.0	12.7
General and administrative	17.3	12.5	10.1	8.7	8.1	6.8	8.5	4.5
Research and development	65.9	53.0	44.5	45.5	39.0	35.0	39.7	29.5
Other operating expenses						1.8	1.3
EBITDA [+]	121.3	63.9	44.4	68.1	64.0	16.8	21.2	20.9
EBITDA growth	89.7%	43.9%	-34.8%	6.5%	281.8%	-20.9%	1.6%	31.6%
EBITDA margin	29.2%	23.7%	19.8%	27.1%	28.8%	10.2%	14.3%	17.3%
Depreciation	6.5	5.9	5.4	5.1	3.6	4.0	4.6	4.0
EBITA	114.8	58.1	39.0	63.1	60.4	12.7	16.6	16.9
EBITA margin	27.6%	21.6%	17.4%	25.1%	27.2%	7.8%	11.2%	14.0%
Amortization of intangibles	2.5	2.5	2.6	2.6	2.6	2.5	5.0
EBIT [+]	112.4	55.6	36.4	60.4	57.8	10.2	11.6	16.9
EBIT growth	102.2%	52.6%	-39.8%	4.5%	468.7%	-12.2%	-31.5%	37.1%
EBIT margin	27.0%	20.6%	16.2%	24.1%	26.0%	6.2%	7.8%	14.0%
Interest expense, net [+]					-2.3	-1.2	-0.6	-0.6
Interest expense	4.2	0.9
Interest income					2.3	1.2	0.6	0.6
Other income (expense), net	1.1	1.8	3.1	3.0
Pre-tax income	109.3	56.5	39.5	63.4	60.1	11.4	12.2	17.5
Income taxes	16.2	8.6	4.3	9.1	13.6	1.7	-3.5	-1.2
Tax rate	14.8%	15.2%	10.9%	14.3%	22.7%	15.3%
Net income	93.1	47.9	35.2	54.4	46.5	9.6	15.7	18.7
Net margin	22.4%	17.8%	15.6%	21.7%	20.9%	5.9%	10.6%	15.5%

Basic EPS [+]	$3.28	$1.71	$1.26	$1.94	$1.68	$0.35	$0.58	$0.68
Growth	92.5%	35.2%	-35.0%	15.7%	372.7%	-38.6%	-14.9%	75.1%
Diluted EPS [+]	$3.12	$1.65	$1.23	$1.89	$1.63	$0.35	$0.57	$0.67
Growth	88.7%	34.4%	-34.9%	16.1%	364.5%	-38.7%	-14.8%	74.6%

Shares outstanding (basic) [+]	28.4	28.1	27.9	28.0	27.7	27.2	27.2	27.4
Growth	1.0%	0.7%	-0.5%	1.2%	1.9%	0.0%	-1.0%	1.3%
Shares outstanding (diluted) [+]	29.8	28.9	28.6	28.8	28.5	27.5	27.5	27.8
Growth	3.0%	1.3%	-0.7%	0.8%	3.7%	0.0%	-1.1%	1.6%

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