There are twelve US Big Technology Corps which have Pretax Income above $1 bil in either the 4Q 2011 or the 4Q 2010.
Of these twelve, eight had December 2011 quarter ends, and four of them had either October or November 2011 quarter ends.
Below here are the 4Q 2011 Pretax Earnings of these 12 US Big Technology Corps, along with that earned in the prior year's 4Q.
..........................................4Q............4Q..........Increase
........................................2011.........2010......(Decrease)
.......................................PTI(L)......PTI(L).....Amount......%
........................................(in millions of dollars)......
Big 12 US High Tech
Ones With Dec 11 Quarters
Apple............................17,477.......7,963......9,514....119%
Microsoft........................8,239.......8,497........(258)....-3%
IBM................................7,274.......6,956..........318......5%
Intel...............................4,587.......4,163..........424.....10%
Google............................3,489.......3,142..........347.....11%
Qualcomm......................1,721.......1,470..........251.....17%
EMC................................1,048.........909..........139.....15%
Texas Instruments(1)........349.......1,104........(755)...-68%
Total all 8.....................44,184.....34,204......9,980.....29%
Ones With Oct & Nov 11 Quarters
Oracle............................2,960.......2,646.........314.....12%
Hewlett Packard(2).........2,310.......3,214.......(904)...-28%
Cisco Systems.................2,245.......2,425.......(180)....-7%
Dell................................1,072.......1,076...........(4).....0%
Total all 4.......................8,587.......9,361.......(774)....-8%
Grand Total all 12.........52,771.....43,565......9,206....21%
(1) Texas Instruments 2010 PTI excludes gains on asset sales.
(2) Hewlett Packard 2011 PTI excludes asset impairment charge, winding down Web OS device business charge, and acquisition foreign currency exchange risk charge.
And through Friday, February 10, 2012, there were 56 US Big Technology Corps which have Pretax Income or Pretax Loss above $100 mil but below $1 bil in either the 4Q 2011 or the 4Q 2010.
In addition, there are four other High Tech Corps, which met the $100 mil Pretax Income threshold in the 4Q 2010, but they aren't included below, since they haven't released their December 2011 quarterly earnings yet. These four are Priceline, First Solar, Garmin Ltd, and Verisk Analytics. These four are included at the very bottom of this post as very late additions.
Of these 56 High Tech Corps, 43 of them had December 2011 quarter ends, and 13 of them had either October or November 2011 quarter ends.
Below here are the 4Q 2011 Pretax Earnings of these 56 US Big Technology Corps, along with that earned in the prior year's 4Q.
..........................................4Q............4Q..........Increase
........................................2011.........2010......(Decrease)
.......................................PTI(L)......PTI(L).....Amount......%
........................................(in millions of dollars)......
56 Rest of US Big High Tech
Ones With Dec 11 Quarters
Ebay(1).............................771..........587..........184......31%
Seagate Technology...........558..........175..........383....219%
Facebook(2)......................548..........437..........111......25%
AutomaticDataProc(3)......514..........485............29.......6%
Sandisk.............................419..........347............72......21%
CA Technologies...............404..........322............82......25%
Western Digital(4).............359..........239..........120......50%
Xerox(5)...........................340..........177..........163......92%
Cognizant Tech.................323..........249............74......30%
ThermoFisherSci..............307..........298..............9.......3%
Broadcom(6)....................276..........321...........(45)....-14%
Symantec.........................273..........177............96......54%
Amazon.com....................273..........506........(233)....-46%
Motorola Solutions...........267..........248............19.......8%
Yahoo..............................252..........228............24......11%
VMWare...........................209..........125............84......67%
CheckpointSftwre.............203..........170............33......19%
Harris Corp......................201..........222...........(21).....-9%
Roper Industries..............171..........148............23......16%
Altera..............................160..........264.........(104)....-39%
BMC Software...................158..........141............17......12%
Ingram Micro..................156..........158.............(2)......-1%
KLA Tencor.....................147..........251.........(104)....-41%
Cerner.............................140..........104............36......35%
Citrix Systems..................139..........116............23......20%
Teradata..........................133..........116............17......15%
Xilinx..............................130..........180..........(50)....-28%
Juniper Networks............122..........232.........(110)...-47%
Linear Technology..........119..........189..........(70)....-37%
MaximIntegrProd...........117..........148..........(31)....-21%
Flextronics.....................116..........178..........(62)....-35%
Unisys............................111..........103..............8........8%
FLIR Systems.................108..........102..............6........6%
CSC(7)............................107..........230........(123)....-53%
Amdocs..........................105...........84............21......25%
F5 Networks...................102...........82............20......24%
Microchip Tech................84..........114..........(30)....-26%
Lam Research..................40..........242.........(202)...-83%
Adv Micro Dev(8)............32..........107..........(75)....-70%
Vishay Intertech..............31..........114..........(83)....-73%
Freescale Semi...................5.........(128).........133.....104%
Groupon(9)......................(2)........(173).........171......99%
Electronic Arts.............(193)........(303).........110......36%
Total 43 Dec 11 Qtrs.....8,835........8,112.........723.......9%
Oct & Nov 11 Quarters
Accenture......................993..........845..........148......18%
Applied Materials...........344..........703........(359)....-51%
Agilent Technologies......293..........243............50......21%
Adobe Systems...............233..........286..........(53)....-19%
Analog Devices...............231..........288..........(57)....-20%
Paychex.........................219..........205............14........7%
Nvidia............................205..........104..........101......97%
Marvell Technology.......199..........257..........(58)....-23%
SAIC(10)........................186..........240..........(54)....-23%
NetApp..........................184..........202..........(18)......-9%
Jabil Circuit...................143..........135.............8.........6%
Intuit.............................(98)........(111)...........13.......12%
MicronTechnolgy(11)...(189).........131.........(320)..-244%
Total 13 Oct&Nov Qtrs.2,943......3,528.........(585)....-17%
Total all 56................11,778.....11,640..........138.......1%
Total Big 12...............52,771.....43,565......9,206.....21%
Grand Total all 68.....64,549.....55,205.......9,344.....17%
Grand Total 67
...without Apple.......47,072.....47,242........(170)......0%
(1) Ebay 2011 PTI excludes Gain on Sale of Skype.
(2) Facebook PTI in both years is Income from Operations.
(3) Automatic Data Processing 2011 PTI excludes Gain on Sale of Assets.
(4) Western Digital 2011 PTI excludes Thailand Flood Loss Charges.
(5) Xerox 2011 PTI excludes Pension Curtailment Gain.
(6) Broadcom 2010 PTI excludes Settlement Costs.
(7) CSC 2011 PTI excludes both National Health Service Contract Charges and Goodwill Impairment Charge.
(8) Advanced Micro Devices 2011 PTI excludes Investment in Global Foundries Impairment Charge. Its 2010 PTI excludes Legal Settlement Gain.
(9) Groupon 2010 PTI excludes Acquisition-related costs, primarily the Fair Value Remeasurement of Contingent Consideration related to its Acquisitions.
(10) SAIC 2011 PTI excludes City Time Loss Provision.
(11) Micron Technology 2010 PTI excludes both Samsung Patent Cross-license Agreement Gain and Loss on Debt Extinguishment.
Yeah, that's right, Apple's 4Q 2011 Pretax Earnings increase of $9,514 mil, made up more than 100% of the $9,344 mil total 4Q 2011 earnings increase for all 68 of these US High Tech Corps. And in Fiscal Year Ended September 2011, 70% of Apple's earnings were generated overseas, mostly in China.
It's pretty clear that the US Congressional Republicans are holding back the US recovery, and especially holding back the US High Technology and US Broad-Based Manufacturing Sectors.
The 100% first-year tax expensing of equipment purchases, which really helped real US GDP growth and propelled earnings growth in these two critical US sectors in the past five quarters, went away at the end of 2011 and needs to be reinstated, and even expanded to include more property than just equipment and more computer software costs.
But to play fair and maximize US job creation, there should be a minimum full-time US jobs added requirement in order for the very largest US Corps to be eligible to earn this highly-charged tax incentive. If not, there will be many huge US Corps that will get this massive tax benefit, but at the same time, they will be laying off workers. That's not right.....not even close to being right.
And there also clearly needs to be some more explosive R&D investment tax incentives.
And there also should be some highly incentivized green energy tax credit incentives, for both renewables and green building retrofits.
And there also needs to be very lucrative tax incentives for US large corps to insource back to the US much of their manufacturing now done in low income taxed foreign tax havens.
And there should be whole-scale, massive US infrastructure investments, yeah even including very carefully-vetted, secure, environment-friendly pipelines.
And there should also be whole-scale, massive school building fixup remodelings, both K-12 Buildings and Public College and University Buildings.
And Fannie Mae and Freddie Mac should permit all homeowners to refinance their mortgages at the current low prevailing market interest rates. And so should all of the exceedingly greedy, private financial institutions, who created the financial meltdown in the first place.
And all of the above strong US job creating, economic growth initiatives, should be wisely and fairly paid for. And it is really not that difficult to derive wise, fair pay fors here. You just have to be financially astute, creative, fair-minded and also open-minded. And a substantial portion of these pay fors should be the closing of some of the Big Corporation Tax Loopholes.
Unemployment compensation benefits should be extended, and the unemployment compensation process should be improved. And a 2% Payroll Tax Holiday targeted at the forgotten Underemployed is needed. But an across-the-board one-year, very costly, untargeted 2% Payroll Tax Holiday for US middle income and above citizens does not even come close to passing the cost-benefit test. All of the above earlier-mentioned targeted economic initiatives are monumentally more needed and much more effective in spurring the US economy and US job creation than is the untargeted 2% Payroll Tax Holiday.
And there should be permanent substantially lower income tax rates on lower amounts of US business income, both corporate and individual, to really spur small business formation and expansion.
The vast majority of the country knows all of the above economic initiatives are needed. And they don't understand why the US Congressional Republicans think it is perfectly acceptable to override what the country wants done here on improving the US economy and spurring US job creation. That is why the favorable ratings of US Congressional Republicans is already extremely low, and also why it is headed even much lower, given their stubbornly complete lack of compromise with both the US Congressional Democrats and with the Obama Administration.
========================================
Late Additions: Feb 29, 2012
..........................................4Q............4Q..........Increase
........................................2011.........2010......(Decrease)
.......................................PTI(L)......PTI(L).....Amount......%
........................................(in millions of dollars)......
Priceline...........................299...........181..........118.........65%
Garmin Ltd.......................185...........156............29.........19%
Verisk Analytics...............124...........105............19.........18%
First Solar(1).....................(81)..........173........(254)....(247)%
(1) First Solar 2011 PTI excludes large Goodwill Impairment Charge.
