And in an earlier very recent post, I found a very large number.....130.....of Smaller California Corporations, which file with the SEC, which had Pretax Income or Pretax Loss of at least $40 mil in any of the most recent three fiscal years, and which also didn't generate Pretax Income or Pretax Loss of $100 mil or more in any of the most recent three years.
Clearly, California rules the country in the number of both Largest and Smaller Corps.
These 202 Largest California Corps generated Total Pretax Income of $275 bil in their most recent 2011 fiscal year ends, which was a very robust 85% higher than such earnings achieved two years ago in their 2009 fiscal years ends.
And the 130 Smaller California Corps generated Total Pretax Income of $2.4 bil in their most recent 2011 fiscal year ends, which was a massively off-the-charts 1,431% higher than such earnings achieved two years ago in their 2009 fiscal years ends.
Clearly, California citizens should be very proud of their many superb California companies, of all sizes.
And yeah, the Obama Administration created a very robust US economic environment, which permitted these fine California companies to do just fantastically on the earnings front in the most recent two years. I find it incredible that nearly half of the country, including many California citizens, believe that the Obama Administration has just been horrible to US businesses of all sizes. The above earnings growth numbers show just how out of touch to reality these people are.
Also, the many US House members from California, and particularly Nancy Pelosi, as well as California's very fine two US Senators.....Barbara Boxer and Dianne Feinstein.....played key roles in supporting their superb California companies, of all sizes, which helped them to generate these incredible earnings growth percentages in the most recent two years.
But there is another key story here. To get to it, you need to break down the earnings growth by year and by sector.
And when you do that, there is just an incredible story.
These 202 Largest California Corps had their Total Pretax Income increase by 23% in 2011 over 2010, when John Boehner was US House Speaker, and the Republicans controlled the US House. But in 2010, when Nancy Pelosi was US House Speaker and the Democrats were in control of the US House, the total earnings growth of these 202 Largest California Corps was more than double this 23% earnings growth, or up a very robust 50% over 2009. Also, in the first half of 2012, with the Republicans in the control of the US House, this total earnings growth stopped to a walk.
And a clearly eye-opening finding is how California's Largest Technology companies performed on the earnings front.
To show how key the Technology sector is to the State of California, the Total Pretax Income of the 86 Technology companies comprised nearly half, or 49%, of the Total Pretax Income of all of the 202 Largest California Corps. And the total earnings of these 86 Largest California Technology companies more than doubled in 2011 over that of two years earlier in 2009. Whoa! But then that was much lower than the 147% total earnings growth in the same two years of California's 2 Big Oil Corps: Chevron and Occidental Petroleum.
These 86 California Largest Technology companies, included in these 202 Largest California Corps, generated Total Pretax Income of $135 bil in 2011, or an increase of 22% over 2010, when the Republicans were in control of the US House. So what happened in 2010, when the US House was under Democratic Control? Well, believe it or not, the Total Pretax Income of these 86 California Largest Technology companies increased by a massive 66% over 2009, or by three times the 22% earnings growth when the Republicans were in control of the US House in 2011. And in the first half of 2012, with the Republicans in control of the US House, the total earnings growth of these California Largest Technology companies declined even further, and did so markedly.
And when you back out Apple, the other 85 Largest California Technology companies had their Total Pretax Income growth decelerate much more sharply from a 69% earnings growth in 2010 over 2009, under Democratic control of the US House, to only 10% in 2011 over 2010, under Republican control of the US House. And the Total Pretax Income of these 85 Largest California Technology companies was flat in the first half of 2012, as compared with the first half of 2011.
California's Largest Technology CEO's, all of their employees, and their stockholders have to be very disappointed with US Government action, or the lack thereof, in both 2011, and the first half of 2012, when the US House was under Republican control. It would be clearly in all of their best economic interests if the US House turned to Democratic control, because Technology companies of all sizes will flourish from their present very tepid earnings growth, or even the lack thereof.
But it wasn't just California's Technology Corps which have experienced a massive earnings deterioration under Republican control of the US House.
The 32 Largest Health Care Corps, included in the 202 Largest California Corps, generated Total Pretax Income growth of 23% in 2010 over 2009, when the US House was under Democrat control. And what happened in 2011, when the US House switched to Republican control? Well, the Total Pretax Income of these 32 Largest Health Care Corps actually declined by 2%. Whew!
Likewise with the 11 Largest California Retail companies, whose total earnings growth in 2010 over 2009 was 13%. However in 2011, their total earnings actually declined by 6% as compared with 2010. Whew, again!
Likewise with the 35 Largest California Corps included in many Other Sectors, whose very robust total earnings growth in 2010 of 68% slipped to only a total earnings growth of 3% in 2011. Whew, for a third time!
So why is it that these 202 Largest California Corps in all Sectors did so much better in 2010 than they did in both 2011 and in the 1Q 2012? I think you need to look at the political situation.
In both years, the President was the same.....a Moderate Democrat.
However, the US House was under Very Conservative Republican control in 2011, but under Democratic control in 2010.
Also, the US Senate had a lower Democratic majority in 2011 than it did in 2010.
And the State Governors and State Legislatures, all across the country, were clearly more Very Conservative Republican in 2011 than they were in 2010.
So clearly, there was a substantial shift nationally from Moderate Democratic control in 2010 to Very Conservative Republican control in 2011.
How could this change in political control make such a huge difference in California State company earnings?
It is pretty clear to me that in 2010, a Moderate Democratic President, coupled most importantly with a US House in Democratic hands, but also having a US Senate in Democratic hands, and further with having more State Governors and State Legislatures in Moderate Democratic hands, did wonders for corporate earnings growth in 2010. With this political structure, economic stimulus, both much needed business income tax stimulus and wise, carefully-vetted investment spending, can occur on a robust scale. And this very strong economic stimulus was in full throttle starting in the 4Q 2009, and did Corporations ever reap the benefit of this by generating exceptionally strong profits.
The worse thing that can happen after a financial meltdown, and near depression, is a US government that just waits for the free markets to correct themselves.....a laissez-faire approach, so favored by so many Republicans. Fortunately for the country, the exact opposite to that wisely happened in 2009 and 2010.
But then in 2011 and the first half of 2012, the US government was unfortunately forced into a laissez-faire economic approach, due to an uncompromising Very Conservative US Congress stopping nearly every economic initiative of the Obama Administration. The focus of the US Congress was almost singularly on austerity, when the improving, but still clearly struggling, US economy was shouting out for more economic stimulus, wisely designed.
Thus, things stopped to a walk on the US economic front when the US House switched to Very Conservative Republican control with the 2010 election, coupled with the US Senate Democratic majority rule being significantly reduced, and with many US States switching from Moderate Democratic Control to Very Conservative Republican Control.
Case in point is Business Income Tax Reform, which the Obama Administration strongly supports, and which nearly all Republicans say they are behind. If the President's Framework for Business Income Tax Reform, presented nearly five months ago, is strengthened by the US Congress and passed, I am pretty certain that all of the US economic problems, including US real GDP growth, US unemployment, US underemployment, and the US Deficit....would all be substantially improved, and on an ongoing sustainable basis over the long run, assuming that the cuts in business tax rates are focused primarily on the smaller businesses.
However, the US House Ways and Means Committee must initiate the legislation on this critically needed Business Income Tax Reform. And what have they done so far? Absolutely nothing. I'm not kidding. On the other hand, if the US House was under Democratic control, I am pretty certain that this Business Income Tax Reform would have gotten out of the US House Ways and Means Committee by now and been placed on the US House Floor.
Instead, the Very Conservative Republicans in the US House are focused on attempting to pass an extension of the much lower Bush income tax rates on the wealthy, which increases the US Deficit by more than a trillion dollars over the next decade, and creates almost no US jobs. This continual off-focus approach to governing by the Very Conservative Republicans in the US House shows that they are clearly unfit to be reelected, due to either their gross incompetence on US economic issues, or to their only be interested in governing for the top 1% of the country.
On the other hand, when the President is a Moderate Democrat and the US House is in Democratic control, economic initiatives move forward, and they clearly did very robustly in 2009 and 2010.
While substantial US job creation doesn't necessarily result from substantially higher corporate earnings, I can clearly tell you one thing.....lower corporate earnings will undoubtedly result in a significant loss of US jobs. When corporate earnings absolutely tanked in late 2008 and in 2009, corporations were very quick to dramatically cut US full-time employees. And to give a recent illustration, when Hewlett Packard announced down earnings in its April 2012 quarter, it also announced it will be cutting 27,000 jobs, or 8% of its workforce. And I have seen so many large Restructuring Charges, where significant job cuts always result, made by so many Corporations in their 1Q 2012 Earnings Statements, and made in the same quarter where their earnings growth has fallen off the cliff.
This massive earnings growth deceleration in both these Largest and Smaller California Corps, particularly in the first half of 2012, where this strong earnings growth has clearly stopped to a walk, and which has also occurred all throughout the country, is shouting out that the US economy desperately needs an economic jolt.
I do think US companies, the US economy, and US job creation would all be helped immensely if the recalcitrant, uncompromising, Very Conservative Republican part of the US Congress would start working with the Obama Administration on much needed, bold, targeted like a laser, quick-hitting, highly effective, short-term economic stimulus, which is also wisely designed to get the maximum bang for the buck.
If the US Government remains in gridlock for a long time, I think the US unemployment rate will continue to hover around 8%, and for a very long time, and perhaps even move up some, somewhat similar to what happened in Japan. That is why it is so critical that there be a complete makeover of the US Congress in the upcoming November 2012 election. This is the only way the US economy will be great again.
And given the present very fragile state of the US economy, if Mitt Romney is the next President, along with both the US House and the US Senate being in Republican control, I am pretty certain that the country will see a US unemployment rate which will average in the very low double digit percentages during the last three years of his four-year Presidential term. And the middle class will be substantially depleted.
Romney, and his US Congressional allies, want a huge, no-strings-attached reduction in the corporate income tax rate. What that would do is to dramatically increase the After-tax Net Income of all corporations, and by a substantial amount. And how many US jobs are created by just reducing the corporate income tax rate? Absolutely none, directly. And very few, if any, indirectly. To argue that a reduction in the corporate income tax rate would either directly or indirectly create a lot of US jobs is being either intellectually dishonest, or having a complete lack of competence on economic issues.
=======================================
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 Long-term 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, as well as Corps not generating significant revenues.
And below here is the Pretax Income (PTI) or Pretax Loss of each of these 202 Largest California Corporations for each of the most recent three fiscal years, along with the related percentage changes in earnings.
| US House | US House | Obama | |||||
| Republican | Democratic | Bump | |||||
| Control | Control | Two | |||||
| PTI(L) | PTI(L) | Year | |||||
| % | % | % | |||||
| Change | Change | Change | |||||
| PTI(L) | PTI(L) | PTI(L) | 2011 | 2010 | 2011 | ||
| California | 2011 | 2010 | 2009 | vs | vs | vs | |
| California Largest Corps | HQs | mils $s | mils $s | mils $s | 2010 | 2009 | 2009 |
| Technology | |||||||
| Apple | Cupertino | 34,205 | 18,540 | 12,066 | 84% | 54% | 183% |
| Intel | Santa Clara | 17,781 | 16,045 | 8,401 | 11% | 91% | 112% |
| Oracle | Redwood City | 12,962 | 11,411 | 8,243 | 14% | 38% | 57% |
| Mountain View | 12,826 | 10,796 | 8,381 | 19% | 29% | 53% | |
| Hewlett Packard | Palo Alto | 11,080 | 11,267 | 9,657 | -2% | 17% | 15% |
| Cisco Systems | San Jose | 7,825 | 9,415 | 7,693 | -17% | 22% | 2% |
| Qualcomm | San Diego | 5,687 | 4,493 | 3,416 | 27% | 32% | 66% |
| Ebay | San Jose | 2,503 | 2,098 | 1,668 | 19% | 26% | 50% |
| Applied Materials | Santa Clara | 2,378 | 1,387 | (486) | 71% | 385% | 589% |
| Menlo Park | 1,695 | 1,008 | 254 | 68% | 297% | 567% | |
| Sandisk | Milpitas | 1,477 | 1,457 | 504 | 1% | 189% | 193% |
| Activision Blizzard | Santa Monica | 1,331 | 818 | 401 | 63% | 104% | 232% |
| KLA Tencor | Milpitas | 1,110 | 291 | (156) | 281% | 287% | 812% |
| Broadcom | Irvine | 1,048 | 1,169 | 209 | -10% | 459% | 401% |
| Adobe Systems | San Jose | 1,035 | 943 | 702 | 10% | 34% | 47% |
| Agilent Technologies | Santa Clara | 1,032 | 560 | 7 | 84% | 7900% | 14643% |
| Intuit | Mountain View | 966 | 815 | 653 | 19% | 25% | 48% |
| Symantec | Mountain View | 948 | 764 | 809 | 24% | -6% | 17% |
| Altera | San Jose | 849 | 868 | 306 | -2% | 184% | 177% |
| Yahoo! | Sunnyvale | 828 | 818 | 409 | 1% | 100% | 102% |
| Lam Research | Fremont | 801 | 430 | (167) | 86% | 357% | 580% |
| Western Digital | Irvine | 780 | 1,520 | 501 | -49% | 203% | 56% |
| VMWare | Palo Alto | 738 | 416 | 223 | 77% | 87% | 231% |
| Linear Technology | Milpitas | 724 | 490 | 369 | 48% | 33% | 96% |
| NetApp | Sunnyvale | 712 | 794 | 447 | -10% | 78% | 59% |
| Check Point Software | Redwood City | 683 | 564 | 446 | 21% | 26% | 53% |
| NVIDIA | Santa Clara | 663 | 271 | 11 | 145% | 2364% | 5927% |
| Maxim Integrated Products | Sunnyvale | 662 | 300 | 86 | 121% | 249% | 670% |
| Marvell Technology Group | Santa Clara | 619 | 910 | 343 | -32% | 165% | 80% |
| Xilinx | San Jose | 597 | 771 | 422 | -23% | 83% | 41% |
| Seagate Technology | Cupertino | 579 | 1,569 | (494) | -63% | 418% | 217% |
| Juniper Networks | Sunnyvale | 572 | 778 | 494 | -26% | 57% | 16% |
| Flextronics International | Silicon Valley | 565 | 629 | 231 | -10% | 172% | 145% |
| Dolby Laboratories | San Francisco | 441 | 447 | 351 | -1% | 27% | 26% |
| National Semiconductor | Santa Clara | 403 | 269 | 114 | 50% | 136% | 254% |
| Ingram Micro | Santa Ana | 388 | 438 | 269 | -11% | 63% | 44% |
| Autodesk | San Rafael | 363 | 272 | 106 | 33% | 157% | 242% |
| Netflix | Los Gatos | 360 | 268 | 192 | 34% | 40% | 88% |
| Atmel | San Jose | 346 | 228 | (56) | 52% | 507% | 718% |
| Novellus Systems | San Jose | 293 | 305 | (69) | -4% | 542% | 525% |
| Synnex | Fremont | 230 | 184 | 135 | 25% | 36% | 70% |
| Synopsys | Mountain View | 219 | 199 | 233 | 10% | -15% | -6% |
| Power One | Camarillo | 214 | 278 | (9) | -23% | 3189% | 2478% |
| Teledyne Technologies | Thousand Oaks | 212 | 174 | 166 | 22% | 5% | 28% |
| Advanced Micro Devices | Sunnyvale | 208 | 363 | (1,003) | -43% | 136% | 121% |
| Informatica | Redwood City | 167 | 121 | 90 | 38% | 34% | 86% |
| Trimble Navigation | Sunnyvale | 167 | 141 | 88 | 18% | 60% | 90% |
| Fairchild Semiconductor Intl | San Jose | 158 | 175 | (63) | -10% | 378% | 351% |
| International Rectifier | El Segundo | 158 | 29 | (133) | 445% | 122% | 219% |
| Polycom | Pleasanton | 157 | 82 | 68 | 91% | 21% | 131% |
| TIBCO Software | Palo Alto | 150 | 111 | 90 | 35% | 23% | 67% |
| Plantronics | Santa Cruz | 143 | 141 | 101 | 1% | 40% | 42% |
| j2 Global | Los Angeles | 137 | 111 | 110 | 23% | 1% | 25% |
| TTM Technologies | Santa Ana | 136 | 109 | 21 | 25% | 419% | 548% |
| QLogic | Aliso Viejo | 133 | 153 | 137 | -13% | 12% | -3% |
| ValueClick | Westlake Village | 131 | 95 | 83 | 38% | 14% | 58% |
| Equinix | Redwood City | 131 | 60 | 109 | 118% | -45% | 20% |
| NETGEAR | San Jose | 124 | 91 | 33 | 36% | 176% | 276% |
| Cypress Semiconductor | San Jose | 121 | 94 | (146) | 29% | 164% | 183% |
| Cubic Corp | San Diego | 118 | 106 | 85 | 11% | 25% | 39% |
| Sanmina-SCI | San Jose | 116 | 103 | (113) | 13% | 191% | 203% |
| Quality Systems | Irvine | 116 | 94 | 76 | 23% | 24% | 53% |
| Cymer | San Diego | 108 | 121 | 17 | -11% | 612% | 535% |
| Zynga | San Francisco | 104 | 127 | (53) | -18% | 340% | 296% |
| Atheros Communications | Santa Clara | 103 | 39 | 34 | 164% | 15% | 203% |
| LSI Corp | Milpitas | 94 | 38 | (170) | 147% | 122% | 155% |
| Brocade Communications Systems | San Jose | 92 | 124 | 27 | -26% | 359% | 241% |
| Quest Software | Aliso Viejo | 86 | 115 | 105 | -25% | 10% | -18% |
| Cadence Design Systems | San Jose | 79 | (47) | (150) | 268% | 69% | 153% |
| Logitech | Fremont | 76 | 148 | 84 | -49% | 76% | -10% |
| United Online | Woodland Hills | 75 | 90 | 118 | -17% | -24% | -36% |
| Intersil | Milpitas | 68 | 120 | 60 | -43% | 100% | 13% |
| Omnivision Technologies | Santa Clara | 64 | 129 | 10 | -50% | 1190% | 540% |
| PMC Sierra | Sunnyvale | 52 | 105 | 51 | -50% | 106% | 2% |
| JDS Uniphase | Milpitas | 46 | (70) | (136) | 166% | 49% | 134% |
| Finisar | Sunnyvale | 45 | 101 | 1 | -55% | 10000% | 4400% |
| Tessera Technologies | San Jose | 41 | 107 | 123 | -62% | -13% | -67% |
| Electronic Arts | Redwood City | 18 | (279) | (706) | 106% | 60% | 103% |
| Rambus | Sunnyvale | 6 | 85 | 106 | -93% | -20% | -94% |
| Salesforce.com | San Francisco | (33) | 104 | 142 | -132% | -27% | -123% |
| Spansion | Sunnyvale | (35) | (100) | (139) | 65% | 28% | 75% |
| FormFactor | Livermore | (68) | (134) | (142) | 49% | 6% | 52% |
| Silver Spring Networks | Redwood City | (96) | (145) | (100) | 34% | -45% | 4% |
| THQ | Agoura Hills | (119) | (92) | (12) | -29% | -667% | -892% |
| Trident Microsystems | Sunnyvale | (143) | (156) | (51) | 8% | -206% | -180% |
| SunPower | San Jose | (170) | 94 | 44 | -281% | 114% | -486% |
| Total all 85 Technology Except Apple | 100,589 | 91,730 | 54,311 | 10% | 69% | 85% | |
| Total all 86 Technology | 134,794 | 110,270 | 66,377 | 22% | 66% | 103% | |
| Big Oil | |||||||
| Chevron | San Ramon | 47,634 | 32,055 | 18,528 | 49% | 73% | 157% |
| Occidental Petroleum | Los Angeles | 10,459 | 7,634 | 5,038 | 37% | 52% | 108% |
| Total 2 Big Oil | 58,093 | 39,689 | 23,566 | 46% | 68% | 147% | |
| Finance Including REITs | |||||||
| Wells Fargo | San Francisco | 23,656 | 19,001 | 17,998 | 24% | 6% | 31% |
| Visa | San Francisco | 5,656 | 4,638 | 3,527 | 22% | 31% | 60% |
| Franklin Resources | San Mateo | 2,624 | 2,070 | 1,289 | 27% | 61% | 104% |
| Toyota Motor Credit | Torrance | 2,423 | 3,003 | 1,679 | -19% | 79% | 44% |
| Charles Schwab | San Francisco | 1,392 | 1,231 | 1,276 | 13% | -4% | 9% |
| UnionBanCal | San Francisco | 1,081 | 793 | (226) | 36% | 451% | 578% |
| Public Storage | Glendale | 774 | 693 | 697 | 12% | -1% | 11% |
| International Lease Finance Corp | Los Angeles | 764 | 898 | 1,469 | -15% | -39% | -48% |
| HCP | Long Beach | 645 | 376 | 278 | 72% | 35% | 132% |
| First Republic Bank | San Francisco | 555 | 470 | 606 | 18% | -22% | -8% |
| SVB Financial Group | Santa Clara | 402 | 198 | 50 | 103% | 296% | 704% |
| East West Bancorp | Pasadena | 383 | 233 | (366) | 64% | 164% | 205% |
| KKR Financial Holdings | San Francisco | 326 | 332 | 46 | -2% | 622% | 609% |
| City National | Beverly Hills | 246 | 134 | 12 | 84% | 1017% | 1950% |
| Mercury General | Los Angeles | 245 | 182 | 572 | 35% | -68% | -57% |
| Cathay General Bancorp | Los Angeles | 172 | 12 | (129) | 1333% | 109% | 233% |
| Digital Realty Trust | San Francisco | 158 | 106 | 91 | 49% | 16% | 74% |
| Realty Income | Escondido | 153 | 122 | 120 | 25% | 2% | 28% |
| Alexandria Real Estate Equities | Pasadena | 143 | 124 | 124 | 15% | 0% | 15% |
| First American Financial | Santa Ana | 130 | 212 | 204 | -39% | 4% | -36% |
| Anworth Mortgage Asset | Santa Monica | 123 | 110 | 130 | 12% | -15% | -5% |
| Westamerica Bancorporation | San Rafael | 121 | 131 | 134 | -8% | -2% | -10% |
| CVB Financial | Ontario | 121 | 87 | 68 | 39% | 28% | 78% |
| PS Business Parks | Glendale | 100 | 96 | 91 | 4% | 5% | 10% |
| PacWest Bancorp | Rancho Santa Fe | 88 | (109) | (84) | 181% | -30% | 205% |
| Pacific Capital Bancorp | Santa Barbara | 70 | (150) | (346) | 147% | 57% | 120% |
| Hanmi Financial | Los Angeles | 29 | (88) | (153) | 133% | 42% | 119% |
| Redwood Trust | Mill Valley | 25 | 111 | 35 | -77% | 217% | -29% |
| KBS Real Estate Investment Trust | Newport Beach | (67) | 5 | (162) | -1440% | 103% | 59% |
| MPG Office Trust | Los Angeles | (125) | (101) | (110) | -24% | 8% | -14% |
| Prologis | San Francisco | (169) | (309) | (125) | 45% | -147% | -35% |
| Total all 31 Finance | 42,244 | 34,611 | 28,795 | 22% | 20% | 47% | |
| Health Care | |||||||
| Amgen | Thousand Oaks | 5,013 | 5,435 | 5,204 | -8% | 4% | -4% |
| Gilead Sciences | Foster City | 3,741 | 4,050 | 3,502 | -8% | 16% | 7% |
| McKesson | San Francisco | 2,068 | 1,920 | 1,864 | 8% | 3% | 11% |
| Allergan | Irvine | 1,336 | 1,175 | 833 | 14% | 41% | 60% |
| Intuitive Surgical | Sunnyvale | 710 | 572 | 396 | 24% | 44% | 79% |
| Varian Medical Systems | Palo Alto | 589 | 533 | 475 | 11% | 12% | 24% |
| Herbalife Ltd | Los Angeles | 560 | 395 | 291 | 42% | 36% | 92% |
| Life Technologies | Carlsbad | 479 | 459 | 207 | 4% | 122% | 131% |
| CareFusion | San Diego | 457 | 414 | 338 | 10% | 22% | 35% |
| ResMed | San Diego | 304 | 261 | 202 | 16% | 29% | 50% |
| Edwards Lifesciences | Irvine | 284 | 268 | 217 | 6% | 24% | 31% |
| Bio-Rad Laboratories | Hercules | 236 | 220 | 186 | 7% | 18% | 27% |
| Illumina | San Diego | 219 | 190 | 143 | 15% | 33% | 53% |
| VCA Antech | Los Angeles | 197 | 192 | 220 | 3% | -13% | -10% |
| Gen-Probe | San Diego | 145 | 147 | 140 | -1% | 5% | 4% |
| Health Net | Woodland Hills | 138 | 298 | 256 | -54% | 16% | -46% |
| Molina Healthcare | Long Beach | 129 | 89 | 38 | 45% | 134% | 239% |
| Jazz Pharmaceuticals | Silicon Valley | 125 | 45 | (7) | 178% | 743% | 1886% |
| Coherent | Santa Clara | 124 | 58 | (17) | 114% | 441% | 829% |
| Questcor Pharmaceuticals | Anaheim | 114 | 54 | 42 | 111% | 29% | 171% |
| Thoratec | Pleasanton | 112 | 93 | 43 | 20% | 116% | 160% |
| Impax Laboratories | Hayward | 98 | 293 | 80 | -67% | 266% | 23% |
| Align Technology | San Jose | 90 | 102 | 36 | -12% | 183% | 150% |
| Exelixis | South San Francisco | 75 | (100) | (133) | 175% | 25% | 156% |
| Rigel Pharmaceuticals | South San Francisco | (86) | 38 | (112) | -326% | 134% | 23% |
| Amylin Pharmaceuticals | San Diego | (95) | (152) | (186) | 38% | 18% | 49% |
| Arena Pharmaceuticals | San Diego | (98) | (117) | (156) | 16% | 25% | 37% |
| Pacific Biosciences | Menlo Park | (109) | (140) | (88) | 22% | -59% | -24% |
| Theravance | South San Francisco | (115) | (84) | (85) | -37% | 1% | -35% |
| DJO Finance LLC | Vista | (116) | (66) | (80) | -76% | 18% | -45% |
| Nektar Therapeutics | San Francisco | (132) | (24) | (103) | -450% | 77% | -28% |
| Intermune | Brisbane | (155) | 122 | (95) | -227% | 228% | -63% |
| Total all 32 Health Care | 16,437 | 16,740 | 13,651 | -2% | 23% | 20% | |
| Leisure & Entertainment | |||||||
| Walt Disney | Burbank | 8,043 | 6,627 | 5,658 | 21% | 17% | 42% |
| DIRECTV | El Segundo | 3,984 | 3,514 | 2,325 | 13% | 51% | 71% |
| DreamWorks Animation | Glendale | 129 | 187 | 203 | -31% | -8% | -36% |
| Live Nation Entertainment | Beverly Hills | (97) | (168) | (115) | 42% | -46% | 16% |
| TiVo | Alviso | (128) | (84) | (24) | -52% | -250% | -433% |
| Total all 5 Leisure & Entertainment | 11,931 | 10,076 | 8,047 | 18% | 25% | 48% | |
| Retail | |||||||
| GAP | San Francisco | 1,369 | 1,982 | 1,816 | -31% | 9% | -25% |
| Ross Stores | Pleasanton | 1,053 | 897 | 719 | 17% | 25% | 46% |
| Safeway | Pleasanton | 882 | 881 | 1,021 | 0% | -14% | -14% |
| Guess | Los Angeles | 419 | 421 | 362 | 0% | 16% | 16% |
| Williams Sonoma | San Francisco | 382 | 323 | 120 | 18% | 169% | 218% |
| Copart | Fairfield | 264 | 239 | 228 | 10% | 5% | 16% |
| Cheesecake Factory | Calabasas Hills | 129 | 111 | 78 | 16% | 42% | 65% |
| Jack in the Box | San Diego | 126 | 106 | 211 | 19% | -50% | -40% |
| DineEquity | Glendale | 120 | 95 | (9) | 26% | 1156% | 1433% |
| 99 Cents Only Stores | City of Commerce | 118 | 94 | 24 | 26% | 292% | 392% |
| Guitar Center | Westlake Village | (105) | (86) | (91) | -22% | 5% | -15% |
| Total all 11 Retail | 4,757 | 5,063 | 4,479 | -6% | 13% | 6% | |
| Other Sectors | |||||||
| Mattel | El Segundo | 971 | 847 | 660 | 15% | 28% | 47% |
| Clorox | Oakland | 821 | 805 | 709 | 2% | 14% | 16% |
| URS | San Francisco | 580 | 514 | 454 | 13% | 13% | 28% |
| Jacobs Engineering Group | Pasadena | 517 | 479 | 624 | 8% | -23% | -17% |
| Reliance Steel & Aluminum | Los Angeles | 512 | 297 | 196 | 72% | 52% | 161% |
| Monster Beverage | Corona | 457 | 349 | 336 | 31% | 4% | 36% |
| CBRE Group | Los Angeles | 430 | 290 | 28 | 48% | 936% | 1436% |
| Aecom Technology | Los Angeles | 384 | 341 | 278 | 13% | 23% | 38% |
| Deckers Outdoor | Goleta | 285 | 250 | 183 | 14% | 37% | 56% |
| Bridgepoint Education | San Diego | 277 | 218 | 82 | 27% | 166% | 238% |
| Robert Half International | Menlo Park | 250 | 115 | 67 | 117% | 72% | 273% |
| Avery Dennison | Pasadena | 243 | 244 | (47) | 0% | 619% | 617% |
| Del Monte Corp | San Francisco | 215 | 458 | 418 | -53% | 10% | -49% |
| Cooper Companies | Pleasanton | 209 | 152 | 115 | 38% | 32% | 82% |
| Levi Strauss | San Francisco | 203 | 252 | 190 | -19% | 33% | 7% |
| Tetra Tech | Pasadena | 140 | 123 | 119 | 14% | 3% | 18% |
| Tutor Perini | Sylmar | 137 | 159 | 205 | -14% | -22% | -33% |
| Wesco Aircraft | Valencia | 128 | 118 | 96 | 8% | 23% | 33% |
| UTi Worldwide | Long Beach | 120 | 108 | 66 | 11% | 64% | 82% |
| Ceradyne | Costa Mesa | 119 | 29 | 8 | 310% | 263% | 1388% |
| Corinthian Colleges | Santa Ana | 117 | 241 | 117 | -51% | 106% | 0% |
| Yasheng Group | Redwood City | 114 | 97 | 77 | 18% | 26% | 48% |
| Breitburn Energy Partners | Los Angeles | 112 | 35 | (109) | 220% | 132% | 203% |
| Granite Construction | Watsonville | 89 | (12) | 139 | 842% | -109% | -36% |
| Central Garden & Pet | Walnut Creek | 48 | 88 | 104 | -45% | -15% | -54% |
| Century Aluminum | Monterey | 22 | 68 | (150) | -68% | 145% | 115% |
| Gymboree | San Francisco | (10) | 55 | 165 | -118% | -67% | -106% |
| Standard Pacific | Irvine | (16) | 18 | (102) | -189% | 118% | 84% |
| Shea Homes Limited Partnership | Walnut | (22) | (59) | (501) | 63% | 88% | 96% |
| Ryland Group | Westlake Village | (31) | (61) | (251) | 49% | 76% | 88% |
| Skechers USA | Manhattan Beach | (97) | 197 | 71 | -149% | 177% | -237% |
| Amyris | Emeryville | (179) | (83) | (65) | -116% | -28% | -175% |
| KB Home | Los Angeles | (181) | (76) | (311) | -138% | 76% | 42% |
| Tesla Motors | Palo Alto | (254) | (154) | (56) | -65% | -175% | -354% |
| Leap Wireless | San Diego | (254) | (206) | (171) | -23% | -20% | -49% |
| Total all 35 in Other Sectors | 6,456 | 6,296 | 3,744 | 3% | 68% | 72% | |
| Grand Total all 202 | 274,712 | 222,745 | 148,659 | 23% | 50% | 85% | |
