These 3 Largest Rhode Island Corps generated Total Pretax Income in 2011 which was 8% higher than that in both 2010 and in 2009.
In this post, I am focusing on the Rhode Island Corps, which file with the SEC, and which had Pretax Income or Pretax Loss of more than $10 mil in any of the most recent three years, and which weren't included in the Largest Rhode Island Corps.
I found 3 of these Rhode Island headquartered Smaller Corps, filing with the SEC. These 3 Rhode Island Smaller Corps had their Total Pretax Income in 2011 increase by a huge 196% as compared with that of two years earlier in 2009.
Clearly, Rhode Island citizens should be very proud of these Smaller Rhode Island companies.
And yeah, the Obama Administration created a very robust US economic environment, which permitted these Smaller Rhode Island companies to do just great 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 below here is the Pretax Income (PTI) or Pretax Loss of each of these 3 Smaller Rhode Island 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 | |
| Rhode Island Smaller Corps | ||||||
| Washington Trust Bancorp | 42.6 | 34.4 | 22.4 | 24% | 54% | 90% |
| LIN Television | 33.7 | 56.2 | 7.2 | -40% | 681% | 368% |
| A T Cross | 11.1 | 7.9 | -0.1 | 41% | 8000% | 11200% |
| Total all 3 | 87.4 | 98.5 | 29.5 | -11% | 234% | 196% |
