The very well run GT Advanced Technologies, a High Tech Semiconductor company, headquartered in Merrimack, NH, generated Pretax Income in the fiscal years ended March 2012 of $270 mil, March 2011 of $271 mil, and March 2010 of $140 mil. Thus, it increased its Pretax Income by a very robust 93% in the most recent two fiscal years.
In addition, New Hampshire has another large company.....Property and Casualty Insurance Company White Mountains Insurance.....which has its Principal Executive Office located in Hanover, NH. It is a Bermuda Company.
White Mountains Insurance generated After-Tax Net Income of $809 mil in the year ended December 2011, $140 mil in 2010, and $580 mil in 2009. However, included in its 2011 Net Income was a huge $678 mil in After-Tax Gains related to the sales of two of its component businesses. And its 2011 earnings were negatively impacted by the many large catastrophes occurring throughout the world in that year. And White Mountains really stepped up its Pretax Earnings in the most recent 1Q 2012, going from a Pretax Loss of $34 mil in the 1Q 2011 to a Pretax Income of $128 mil in the 1Q 2012.
I found 6 Smaller New Hampshire Corps, which file with the SEC, and which generated Pretax Income or Pretax Loss of more than $5 mil in any of the most recent three years. And these 6 also did not generate Pretax Income or Pretax Loss of more than $100 mil in any of the most recent three years.
These 6 Smaller New Hampshire Corps generated Total Pretax Income in 2011 which was an off-the-charts 191% higher than that generated two years earlier in 2009.
Yeah, the Obama Administration created a very robust US economic environment, which permitted New Hampshire companies to do just fantastic on the earnings front in the most recent two years.
In deriving Pretax Income, I start with Pretax Income under Generally Accepted Accounting Principles (GAAP), and then exclude several clearly unusual very large items relative to Pretax Income, such as Asset Impairments, and Gains and Losses on both Debt Retirements and Asset Dispositions.
I use Pretax Income rather than After-tax Net Income, since so much of the change in effective income tax rates just happens due to financial engineering.
I excluded Corps in the Development Stage, and ones generating losses for many years.
Let me show each of these 6 Smaller New Hampshire Corps. Below here is the Headquarters location and the SEC Standard Industrial Classification of each of these companies.
| New Hampshire Smaller Corps | New Hampshire HQs | SEC Standard Industrial Classification |
| Bottomline Technologies | Portsmouth | Prepackaged Software |
| Micronetics | Hudson | Electronic Components |
| New Hampshire Thrift Bancshares | Newport | Savings Institutions |
| PC Connection | Merrimack | Retail: Catalog & Mail-Order Houses |
| Sprague Operating Resources | Portsmouth | Wholesale: Petroleum Bulk Stations & Terminals |
| Standex Intl | Salem | Refrigeration & Service Industry Machinery |
And below here is the Pretax Income (PTI) or Pretax Loss of each of these 6 Smaller New Hampshire Corporations for each of the most recent three years, along with the related percentage changes in earnings.
| Republican | Democratic | Obama | |||||
| US House | US House | Bump | |||||
| Control | Control | Two Year | |||||
| PTI(L) | PTI(L) | PTI(L) | |||||
| % | % | % | |||||
| Change | Change | Change | |||||
| Total | Total | Total | 2011 | 2010 | 2011 | ||
| PTI(L) | PTI(L) | PTI(L) | vs | vs | vs | ||
| 2011 | 2010 | 2009 | 2010 | 2009 | 2009 | ||
| mils $s | mils $s | mils $s | |||||
| New Hampshire Smaller Corps | |||||||
| Standex Intl | 50.1 | 39.4 | 21.0 | 27% | 88% | 139% | |
| PC Connection | 47.4 | 38.4 | 10.9 | 23% | 252% | 335% | |
| Sprague Operating Resources | 36.6 | 28.1 | 23.1 | 30% | 22% | 58% | |
| New Hampshire Thrift Bancshares | 10.5 | 11.5 | 9.7 | -9% | 19% | 8% | |
| Bottomline Technologies | 10.4 | 6.5 | (11.5) | 60% | 157% | 190% | |
| Micronetics | 5.4 | 2.3 | 2.0 | 135% | 15% | 170% | |
| Total all 6 | 160.4 | 126.2 | 55.2 | 27% | 129% | 191% | |
