California Largest Technology Corps Audited Net Income in ... - Yes

From an extensive review of SEC filings, I found 70 Corps
headquartered in California with externally audited under US Generally Accepted Accounting Principles (US GAAP) After-tax Net Income of at least $500 mil in any of the most recent five fiscal years.

Of these 70 California Corps, 37 of them are Technology Corps.

These 37 Largest California Technology Corps filing with the SEC generated Audited US GAAP Total After-tax Net Income from Continuing Operations of $103 bil in the most recent fiscal year 2011, which was a profit improvement of a massive $80 bil, or up 346%, over the Total After-tax Net Income of $23 bil generated by these same 37 technology companies just three years earlier in 2008, the last year of the Bush/Cheney Administration.

And to illustrate just how widespread this earnings improvement during the Obama Administration is in the California Technology Sector, 34 of these 37 California Largest Technology Corps had 2011 earnings increases from that of three years ago, at the end of the Bush/Cheney Presidential term.

Further, to illustrate how awesomely powerful the total earnings growth was in the California Technology Sector during the Obama Administration, these 37 Largest California Technology Corps had their Audited US GAAP Total After-tax Net Income increase by $30 bil, or by 129%, in 2009 over 2008; by another $28 bil, or by 52% in 2010 over 2009; and by another $23 bil, or by 28%, in 2011 over 2010.? Whew!

So if the question to be answered is whether, in the aggregate, these 37 Largest California Technology Corps are better off now than they were in the last year of the Bush/Cheney Administration, the answer is clearly yes, and by $80 bil better, or by nearly three and a half times better, as earnings performance is measured by the prestigious US Accounting Profession.

And the 33 Largest California Non-Technology Corps filing with the SEC generated Audited US GAAP Total After-tax Net Income from Continuing Operations of $79 bil in the most recent fiscal year 2011, which was a profit improvement of $30 bil, or up a robust 61%, over the Total After-tax Net Income of $49 bil generated by these same 33 Largest California Non-Technology companies just three years earlier in 2008, the last year of the Bush/Cheney Administration.

The two California Big Oil Corps......Chevron and Occidental Petroleum....comprised a massive 64% of the Total Earnings of these 33 Largest California Non-Technology Corps in 2008, the last year of the Bush/Cheney Administration.

But during the most recent three years of the Obama Administration, the California Finance and Other Sectors experienced huge total earnings growth.

The 13 Largest Non-Technology California Corps in the Finance Sector had their Total After-tax Net Income increase from only $4.6 bil in 2008 to $25.8 bil in 2011, an increase of a massive 455%.? The clear leader here was the very well run Wells Fargo, which had its After-tax Earnings increase from only $2.7 bil in 2008 to $16.2 bil in the most recent 2011.

So, clearly it wasn't just the California Technology Sector, but also particularly the California Finance Sector, and even many California Corps in Other Sectors, which have had spectacular total earnings growth during the Obama Administration.?

The only negative here is that this total earnings growth has decelerated, particularly so in 2012.? It's all about the November 2010 Tea Party Election, which must be reversed all over the country in November 2012, in order to re-accelerate this total earnings growth, which is so critically needed to spur the country's present tepid real GDP growth and also needed to spur the presently modest US job creation.

President Obama can't do it alone.? He needs a US Congress that will work with him.? And even blue States like California can help here, not just by voting in more California US Congressional Democrats, but also by contributing to and helping in campaigns all across the country to remove from office the many Uncompromising, Very Conservative Republican members in key US Congressional races like Joe Walsh in Illinois, Michele Bachmann in Minnesota, Allen West in Florida, Steve King in Iowa, and Larry Bucshon in Indiana.....just to name a few.? These Republicans, strongly supported by the Tea Party, have good intentions, but they are severely harming the country's economy.

Below here is the Audited under US GAAP After-tax Net Income or Net Loss for each of these 37 Largest California Technology Corps and 33 Largest California Non-Technology Corps for each of the most recent five fiscal years.? The majority of these 70 California Corporations have a December Fiscal Year End (FYE).

		FYE	FYE	FYE	FYE	FYE
		2011	2010	2009	2008	2007
		Reported	Reported	Reported	Reported	Reported
		Audited	Audited	Audited	Audited	Audited
		After-Tax	After-Tax	After-Tax	After-Tax	After-Tax
		Net Income	Net Income	Net Income	Net Income	Net Income
	California	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)
	HQs	mil $s	mil $s	mil $s	mil $s	mil $s
California Technology Corps
Apple	Cupertino	25,922	14,013	8,235	6,119	3,495
Intel	Santa Clara	12,942	11,464	4,369	5,292	6,976
Oracle	Redwood City	9,981	8,547	6,135	5,593	5,521
Google	Mountain View	9,737	8,505	6,520	4,227	4,204
Cisco Systems	San Jose	8,041	6,490	7,767	6,134	8,052
Hewlett Packard	Palo Alto	7,074	8,761	7,660	8,329	7,264
Qualcomm	San Diego	4,555	3,520	1,792	3,347	3,447
Ebay	San Jose	3,229	1,801	2,389	1,779	348
Seagate Technology	Cupertino	2,862	511	1,609	(3,125)	1,251
Applied Materials	Santa Clara	1,926	938	(305)	961	1,710
Western Digital	Irvine	1,612	726	1,382	470	867
Symantec	Mountain View	1,172	593	714	(6,786)	410
Activision Blizzard	Santa Monica	1,085	418	113	(107)	227
Yahoo!	Sunnyvale	1,063	1,245	605	425	642
Agilent Technologies	Santa Clara	1,012	684	(31)	693	638
Facebook	Menlo Park	1,000	606	229	(56)	(138)
Sandisk	Milpitas	987	1,300	415	(1,987)	191
Broadcom	Irvine	927	1,082	65	215	213
Adobe Systems	San Jose	833	775	387	872	724
Altera	San Jose	771	783	251	360	290
Intuit	Mountain View	767	652	564	459	457
KLA Tencor	Milpitas	756	794	212	(523)	359
VMWare	Palo Alto	724	357	197	290	218
Marvell Technology Group	Santa Clara	615	904	353	147	(114)
NetApp	Sunnyvale	605	673	400	65	310
NVIDIA	Santa Clara	581	253	(68)	(30)	798
Check Point Software	Redwood City	544	453	358	324	281
Xilinx	San Jose	530	642	357	362	369
Flextronics International	Silicon Valley	511	606	25	(6,123)	(664)
Advanced Micro Devices	Sunnyvale	495	471	296	(2,412)	(2,808)
Juniper Networks	Sunnyvale	425	619	115	512	361
Linear Technology	Milpitas	398	581	361	289	367
Lam Research	Fremont	169	724	347	(302)	439
Electronic Arts	Redwood City	76	(276)	(677)	(1,088)	(454)
Sanmina-SCI	San Jose	69	122	(138)	(513)	(1,143)
JDS Uniphase	Milpitas	(56)	72	(62)	(910)	(40)
SunPower	San Jose	(604)	167	33	(124)	28
Total all 37 Technology Corps		103,336	80,576	52,974	23,178	45,096
Annual Increase (Decrease)
?..Amount		22,760	27,602	29,796	(21,918)
?..Percentage		28%	52%	129%	-49%
Three Year Increase (2008-2011) Under Obama
?..Amount		80,158
?..Percentage		346%
		FYE	FYE	FYE	FYE	FYE
		2011	2010	2009	2008	2007
		Reported	Reported	Reported	Reported	Reported
		Audited	Audited	Audited	Audited	Audited
		After-Tax	After-Tax	After-Tax	After-Tax	After-Tax
		Net Income	Net Income	Net Income	Net Income	Net Income
	California	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)
	HQs	mil $s	mil $s	mil $s	mil $s	mil $s
California Non-Technology Corps
Big Oil
Chevron	San Ramon	27,008	19,136	10,563	24,031	18,795
Occidental Petroleum	Los Angeles	6,640	4,569	3,151	7,183	5,072
Total 2 Big Oil Corps		33,648	23,705	13,714	31,214	23,867
Finance Including REITs
Wells Fargo	San Francisco	16,211	12,663	12,667	2,698	8,265
Visa	San Francisco	3,646	2,964	2,352	804	(1,071)
Franklin Resources	San Mateo	1,821	1,451	904	1,600	1,773
Toyota Motor Credit	Torrance	1,486	1,853	1,063	(623)	(223)
Charles Schwab	San Francisco	864	454	787	1,230	1,120
Public Storage	Glendale	834	689	797	980	489
UnionBanCal	San Francisco	763	554	(65)	284	573
HCP	Long Beach	550	321	103	228	131
KKR Financial Holdings	San Francisco	318	371	77	(1,078)	217
CBRE Group	Los Angeles	240	142	(28)	(1,076)	400
PacWest Bancorp	Rancho Santa Fe	51	(62)	(9)	(728)	90
Prologis	San Francisco	(244)	(1,589)	(355)	(367)	841
International Lease Finance Corp	Los Angeles	(724)	(496)	887	696	597
Total all 13 Finance Corps		25,816	19,315	19,180	4,648	13,202
Other Sectors
Walt Disney	Burbank	5,258	4,313	3,609	4,729	4,851
Amgen	Thousand Oaks	3,683	4,627	4,605	4,052	3,078
Gilead Sciences	Foster City	2,789	2,890	2,626	1,970	1,576
DIRECTV	El Segundo	2,636	2,312	1,007	1,607	1,445
McKesson	San Francisco	1,403	1,130	1,263	823	989
Allergan	Irvine	938	5	624	565	487
GAP	San Francisco	833	1,204	1,102	967	867
Mattel	El Segundo	769	685	529	380	600
Ross Stores	Pleasanton	657	555	443	305	261
Clorox	Oakland	543	287	526	472	382
Safeway	Pleasanton	518	591	(1,098)	965	888
Avery Dennison	Pasadena	154	242	(835)	153	172
McClatchy	Sacramento	54	33	57	3	(2,727)
Century Aluminum	Monterey	11	60	(206)	(895)	(106)
Standard Pacific	Irvine	(16)	(12)	(13)	(1,231)	(695)
Shea Homes Limited Partnership	Walnut	(107)	(55)	(423)	(610)	(556)
KB Home	Los Angeles	(179)	(69)	(102)	(976)	(1,415)
Leap Wireless	San Diego	(318)	(785)	(238)	(143)	(76)
Total all 18 Corps in Other Sectors		19,626	18,013	13,476	13,136	10,021
Total all 33 Non-Technology Corps		79,090	61,033	46,370	48,998	47,090
Annual Increase (Decrease)
?..Amount		18,057	14,663	(2,628)	1,908
?..Percentage		30%	32%	-5%	4%
Three Year Increase (2008-2011) Under Obama
?..Amount		30,092
?..Percentage		61%

Source: http://wuerthwhilewilywakenings.blogspot.com/2012/09/california-largest-technology-corps.html

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