These 37 Largest Connecticut Corps generated Total Pretax Income in 2011 which was a massive 95% higher than that of two years earlier in 2009.
Now I wanted to see if these strong earnings also applied to the even smaller Connecticut Corps, which file with the SEC.
I found 22 Connecticut headquartered Smaller Corps filing with the SEC, which had Pretax Income or Pretax Loss of $20 mil or more in any of the most recent three years, and which weren't included in the 37 Largest Connecticut Corps. Thus, these 22 Smaller Connecticut Corps also did not have Pretax Income or Pretax Loss of $100 mil or more in any of the most recent three years. I used a lower $20 mil Pretax Income and Pretax Loss threshold in order to make sure the number of companies here are of sufficient size to be able to reach a valid conclusion.
How did they do? Well, these 22 Smaller Connecticut Corps generated total earnings growth in the most recent two years of an even more massive 4384%, or 46 times the 95% total earnings growth of the 37 Largest Connecticut Corps.
Clearly, Connecticut citizens should be very proud of their many superb Connecticut companies, of all sizes.
And yeah, the Obama Administration created a very robust US economic environment, which permitted these exceptional Connecticut companies of all sizes to do just fantastically 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.
And just check out how much better these Connecticut Corps performed in 2010, when the country was clearly more under Democratic control nationally, than in 2011, when the country was more under Republican control nationally.....Total Pretax Income of these 37 Largest Connecticut Corps was up 53% in 2010 over 2009 versus up 28% in 2011 over 2010; and Total Pretax Income of these 22 Smaller Connecticut Corps was up 2858% in 2010 over 2009 versus up 55% in 2011 over 2010!
Let me first show each of the 37 Largest and 22 Smaller Connecticut Corps, and where they are Headquartered.
| Connecticut Largest Corps | Connecticut HQs |
| Aetna | Hartford |
| Aircastle Ltd | Stamford |
| Alexion Pharmaceuticals | Cheshire |
| Amphenol | Wallingford |
| Barnes Group | Bristol |
| Chemtura | Middlebury |
| Cigna | Bloomfield |
| Crane | Stamford |
| Emcor Group | Norwalk |
| Factset Research Systems | Norwalk |
| Frontier Communications | Stamford |
| Gartner | Stamford |
| General Electric | Fairfield |
| Genesee & Wyoming | Greenwich |
| Harman International Industries | Stamford |
| Hartford Financial Services | Hartford |
| Hexcel | Stamford |
| Hubbell | Shelton |
| ING Life Insurance & Annuity US | Windsor |
| Interactive Brokers Group | Greenwich |
| Mohegan Tribal Gaming Authority | Uncasville |
| Northern Tier Energy | Ridgefield |
| People's United Financial | Bridgeport |
| Pitney Bowes | Stamford |
| Praxair | Danbury |
| Priceline.com | Norwalk |
| Silgan Holdings | Stamford |
| Stanley Black & Decker | New Britain |
| Starwood Hotels & Resorts | Stamford |
| Starwood Property Trust | Greenwich |
| Terex Corp | Westport |
| United Natural Foods | Dayville |
| United Rentals | Greenwich |
| United Technologies | Hartford |
| Webster Financial | Farmington |
| WR Berkley | Greenwich |
| Xerox | Norwalk |
| Connecticut Smaller Corps | Connecticut HQs |
| ATMI | Danbury |
| Blyth | Greenwich |
| Cenveo | Stamford |
| Ethan Alllen Interiors | Danbury |
| FuelCell Energy | Danbury |
| Higher One Holdings | New Haven |
| Kaman Corp | Bloomfield |
| KAYAK Software | Norwalk |
| MacDermid Group | Waterbury |
| Patriot National Bancorp | Stamford |
| Phoenix Companies | Hartford |
| Photronics | Brookfield |
| RBC Bearings | Oxford |
| Rogers Corp | Rogers |
| SS&C Technologies | Windsor |
| Stanadyne | Windsor |
| Star Gas Partners | Stamford |
| STR Holdings | Enfield |
| Sturm Ruger | Southport |
| Urstadt Biddle Properties | Greenwich |
| World Wrestling Entertainment | Stamford |
| Zygo | Middlefield |
And below here is the Pretax Income (PTI) or Pretax Loss of each of these 37 Largest and 22 Smaller Connecticut Corporations for each of the most recent three years, along with the related percentage changes in earnings.
| US House | US House | |||||
| Republican | Democratic | Obama | ||||
| Control | Control | Bump | ||||
| PTI(L) | PTI(L) | Two Year | ||||
| % | % | % | ||||
| Change | Change | Change | ||||
| PTI(L) | PTI(L) | PTI(L) | 2011 | 2010 | 2011 | |
| 2011 | 2010 | 2009 | vs | vs | vs | |
| mils $s | mils $s | mils $s | 2010 | 2009 | 2009 | |
| Connecticut Largest Corps | ||||||
| General Electric | 20,098 | 14,085 | 9,864 | 43% | 43% | 104% |
| United Technologies | 7,605 | 6,538 | 5,760 | 16% | 14% | 32% |
| Aetna | 3,078 | 2,644 | 1,901 | 16% | 39% | 62% |
| Praxair | 2,323 | 1,964 | 1,442 | 18% | 36% | 61% |
| Cigna | 2,204 | 1,925 | 1,594 | 14% | 21% | 38% |
| Xerox | 1,565 | 815 | 627 | 92% | 30% | 150% |
| Priceline.com | 1,368 | 746 | 442 | 83% | 69% | 210% |
| Stanley Black & Decker | 780 | 240 | 239 | 225% | 0% | 226% |
| Interactive Brokers | 741 | 337 | 538 | 120% | -37% | 38% |
| Amphenol | 717 | 664 | 447 | 8% | 49% | 60% |
| Pitney Bowes | 544 | 535 | 693 | 2% | -23% | -22% |
| WR Berkley | 518 | 603 | 382 | -14% | 58% | 36% |
| Starwood Hotels & Resorts | 493 | 299 | 174 | 65% | 72% | 183% |
| Hubbell | 390 | 320 | 262 | 22% | 22% | 49% |
| ING Life Insurance US | 340 | 578 | 404 | -41% | 43% | -16% |
| Northern Tier Energy | 324 | 170 | 90 | 91% | 89% | 260% |
| People's United Financial | 296 | 127 | 144 | 133% | -12% | 106% |
| Crane | 292 | 211 | 185 | 38% | 14% | 58% |
| Silgan Holdings | 290 | 222 | 248 | 31% | -10% | 17% |
| Frontier Communications | 246 | 271 | 193 | -9% | 40% | 27% |
| Factset Research | 239 | 222 | 212 | 8% | 5% | 13% |
| Hartford Financial Services | 230 | 2,356 | (1,721) | -90% | 237% | 113% |
| Alexion Pharmaceuticals | 230 | 149 | 83 | 54% | 80% | 177% |
| Webster Financial | 207 | 85 | (131) | 144% | 165% | 258% |
| Gartner | 202 | 134 | 116 | 51% | 16% | 74% |
| Emcor Group | 201 | 218 | 247 | -8% | -12% | -19% |
| Hexcel | 176 | 100 | 78 | 76% | 28% | 126% |
| United Rentals | 164 | (63) | (107) | 360% | 41% | 253% |
| Harman Industries | 160 | 49 | (211) | 227% | 123% | 176% |
| Genesee & Wyoming | 158 | 109 | 76 | 45% | 43% | 108% |
| Chemtura | 137 | (102) | (80) | 234% | -28% | 271% |
| Aircastle Ltd | 132 | 72 | 111 | 83% | -35% | 19% |
| United Natural Foods | 126 | 112 | 100 | 13% | 12% | 26% |
| Starwood Property Trust | 121 | 59 | (3) | 105% | 2067% | 4133% |
| Barnes Group | 117 | 64 | 43 | 83% | 49% | 172% |
| Mohegan Tribal Gaming Authority | 112 | 65 | 109 | 72% | -40% | 3% |
| Terex Corp | (83) | (238) | (524) | 65% | 55% | 84% |
| Total all 37 Largest Corps | 46,841 | 36,685 | 24,027 | 28% | 53% | 95% |
| Connecticut Smaller Corps | ||||||
| SS&C Technologies | 79 | 49 | 29 | 61% | 69% | 172% |
| Kaman Corp | 77 | 62 | 35 | 24% | 77% | 120% |
| RBC Bearings | 76 | 53 | 33 | 43% | 61% | 130% |
| Photronics | 71 | 33 | (37) | 115% | 189% | 292% |
| Sturm Ruger | 64 | 44 | 44 | 45% | 0% | 45% |
| World Wrestling Entertainment | 60 | 82 | 79 | -27% | 4% | -24% |
| MacDermid Group | 57 | 46 | (16) | 24% | 388% | 456% |
| Rogers Corp | 55 | 44 | (16) | 25% | 375% | 444% |
| Star Gas Partners | 52 | 39 | 49 | 33% | -20% | 6% |
| Higher One Holdings | 49 | 41 | 22 | 20% | 86% | 123% |
| ATMI | 46 | 51 | (12) | -10% | 525% | 483% |
| STR Holdings | 42 | 81 | 35 | -48% | 131% | 20% |
| Phoenix Companies | 32 | (35) | (87) | 191% | 60% | 137% |
| Urstadt Biddle Properties | 32 | 28 | 28 | 14% | 0% | 14% |
| KAYAK Software | 31 | 20 | 4 | 55% | 400% | 675% |
| Blyth | 30 | 42 | 47 | -29% | -11% | -36% |
| Ethan Alllen Interiors | 26 | (19) | (33) | 237% | 42% | 179% |
| Zygo | 22 | (2) | (39) | 1200% | 95% | 156% |
| Cenveo | (5) | (54) | (73) | 91% | 26% | 93% |
| Patriot National Bancorp | (15) | (15) | (22) | 0% | 32% | 32% |
| Stanadyne | (21) | (10) | (20) | -110% | 50% | -5% |
| FuelCell Energy | (46) | (56) | (69) | 18% | 19% | 33% |
| Total all 22 Smaller Corps | 814 | 524 | (19) | 55% | 2858% | 4384% |
