ZST Digital Networks Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2010	FY 2009	FY 2008	FY 2007	FY 2006	2005
Period Ending	Sep '11 Sep 30, 2011	Dec '10 Dec 31, 2010	Dec '09 Dec 31, 2009	Dec '08 Dec 31, 2008	Dec '07 Dec 31, 2007	Dec '06 Dec 31, 2006	2005
Revenue	171.36	134.57	100.41	55.43	28.72	5.65	Upgrade
Revenue Growth (YoY)	44.05%	34.01%	81.15%	93.02%	408.25%	165.40%	Upgrade
Cost of Revenue	127.58	99.77	83.33	45.59	23.22	4.48	Upgrade
Gross Profit	43.78	34.8	17.08	9.84	5.5	1.17	Upgrade
Selling, General & Admin	5.2	4.44	2.27	1.17	0.76	0.25	Upgrade
Research & Development	0.48	0.4	0.22	-	0.09	0	Upgrade
Operating Expenses	5.68	4.83	2.49	1.17	0.85	0.29	Upgrade
Operating Income	38.1	29.96	14.59	8.66	4.64	0.88	Upgrade
Interest Expense	-	-	-0.19	-0.41	-0.27	-0.03	Upgrade
Interest & Investment Income	0.15	0.08	0.06	0.01	0	0	Upgrade
Other Non Operating Income (Expenses)	-0.01	0.04	0.36	-0.01	0	0.06	Upgrade
EBT Excluding Unusual Items	38.25	30.08	14.83	8.25	4.38	0.91	Upgrade
Merger & Restructuring Charges	-	-	-0.57	-	-	-	Upgrade
Gain (Loss) on Sale of Assets	-0	-0	-	-0.01	-0	0.05	Upgrade
Pretax Income	38.25	30.08	14.26	8.24	4.38	0.95	Upgrade
Income Tax Expense	9.91	7.98	4.09	2.13	1.52	0.31	Upgrade
Net Income	28.34	22.09	10.18	6.11	2.87	0.64	Upgrade
Net Income to Common	28.34	22.09	10.18	6.11	2.87	0.64	Upgrade
Net Income Growth	70.10%	117.07%	66.63%	113.03%	348.96%	241.73%	Upgrade
Shares Outstanding (Basic)	12	12	9	6	6	6	Upgrade
Shares Outstanding (Diluted)	12	12	9	6	6	6	Upgrade
Shares Change (YoY)	1.42%	32.75%	48.84%	-	-	-	Upgrade
EPS (Basic)	2.44	1.90	1.16	1.04	0.49	0.11	Upgrade
EPS (Diluted)	2.44	1.90	1.16	1.04	0.49	0.11	Upgrade
EPS Growth	67.68%	63.52%	11.96%	113.03%	348.96%	-	Upgrade
Free Cash Flow	19.17	8.82	-9.53	3.3	-7.65	1.11	Upgrade
Free Cash Flow Per Share	1.65	0.76	-1.09	0.56	-1.30	0.19	Upgrade
Gross Margin	25.55%	25.86%	17.01%	17.75%	19.14%	20.75%	Upgrade
Operating Margin	22.23%	22.27%	14.53%	15.63%	16.17%	15.59%	Upgrade
Profit Margin	16.54%	16.42%	10.14%	11.02%	9.98%	11.30%	Upgrade
Free Cash Flow Margin	11.19%	6.56%	-9.49%	5.96%	-26.62%	19.56%	Upgrade
EBITDA	38.61	30.28	14.64	8.68	4.69	0.92	Upgrade
EBITDA Margin	22.53%	22.50%	14.58%	15.67%	16.32%	16.33%	Upgrade
D&A For EBITDA	0.51	0.32	0.05	0.02	0.04	0.04	Upgrade
EBIT	38.1	29.96	14.59	8.66	4.64	0.88	Upgrade
EBIT Margin	22.23%	22.27%	14.53%	15.63%	16.17%	15.59%	Upgrade
Effective Tax Rate	25.90%	26.54%	28.64%	25.88%	34.58%	33.00%	Upgrade
Revenue as Reported	171.36	134.57	100.41	55.43	28.72	-	Upgrade

Source: S&P Global Market Intelligence. Standard template. Financial Sources.