These 5 Maine Corps generated Total Pretax Income in 2011 which was 56% higher than that of two years earlier in 2009.
Clearly, Maine citizens should be very proud of their many superb Maine companies.
And yeah, the Obama Administration created a very robust US economic environment, which permitted these exceptional Maine companies of all sizes to do very well 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.
And below here is the Pretax Income (PTI) or Pretax Loss of each of these 5 Maine Corporations for each of the most recent three years, along with the related percentage changes in earnings.
| Obama | ||||||
| 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 | |
| Maine Corps | ||||||
| Largest Corps | ||||||
| Idexx Laboratories | 234 | 202 | 175 | 16% | 15% | 34% |
| Wright Express | 209 | 145 | 89 | 44% | 63% | 135% |
| Total both | 443 | 347 | 264 | 28% | 31% | 68% |
| Smaller Corps | ||||||
| Bar Harbor Bankshares | 15.5 | 14.8 | 14.3 | 5% | 3% | 8% |
| Camden National Corp | 38.0 | 35.9 | 33.2 | 6% | 8% | 14% |
| First Bancorp | 16.2 | 16.2 | 17.6 | 0% | -8% | -8% |
| Total all 3 | 69.7 | 66.9 | 65.1 | 4% | 3% | 7% |
| Grand Total all 5 | 512.7 | 413.9 | 329.1 | 24% | 26% | 56% |
