Gross margin48.0%46.6%45.1%48.3%47.3%44.7%
Gross margin growth (bps)226151-318101262-461
Operating margin9.3%-0.1%8.6%12.4%13.4%13.2%
Operating margin growth (bps)920-875-371-10014-746
Net profit margin4.2%0.3%6.5%8.9%9.4%9.1%
Net profit margin growth (bps)430-620-238-4624-553

Notes:The company changed its fiscal year end from Dec 31 to Mar 31. Fiscal years 2014 and prior represent the twelve months ended on Dec 31, while fiscal 2015 represents the 12 months ended on Mar 31, resulting in a transitory quarter being omitted from annual results.