These 6 Largest South Carolina Corps generated Total Pretax Income in 2011 which was up an off-the-charts 133% from such amount two years earlier in 2009.
Now I wanted to see if these incredibly strong earnings also applied to the even smaller South Carolina Corps, which file with the SEC.
I found 10 South Carolina 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 6 Largest South Carolina Corps. Thus, these 10 Smaller South Carolina Corps also did not have Pretax Income or Pretax Loss of $100 mil or more in any of the most recent three years.
How did they do? Well, these 10 Smaller South Carolina Corps generated total earnings growth in the most recent two years that was even much better than the 133% total earnings growth of the 6 Largest South Carolina Corps.
Clearly, South Carolina citizens should be very proud of their many superb South Carolina companies, of all sizes.
And yeah, the Obama Administration created a very robust US economic environment, which permitted these fine South Carolina 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.
Let me first show each of the 6 Largest and 10 Smaller South Carolina Corps, and where they are Headquartered.
| South Carolina Corporation | South Carolina HQs |
| AVX | Fountain Inn |
| Sonoco Products | Hartsville |
| World Acceptance | Greenville |
| Scansource | Greenville |
| Advance America, Cash Centers | Spartanaburg |
| Kemet | Simpsonville |
| 3D Systems | Rock Hill |
| AGY Holding | Aiken |
| Blackbaud | Charleston |
| Delta Apparel | Greenville |
| Dennys | Spartanaburg |
| First Financial Holdings | Charleston |
| HCSB Financial | Loris |
| Palmetto Bancshares | Laurens |
| Regional Management Corp | Greenville |
| SCBT Financial | Columbia |
And below here is the Pretax Income (PTI) or Pretax Loss of each of these 6 Largest and 10 Smaller South Carolina Corporations for each of the most recent three years, along with the related percentage changes in earnings.
| Obama | ||||||
| Bump | ||||||
| Two | ||||||
| PTI(L) | PTI(L) | 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 | |
| South Carolina Largest Corps | ||||||
| AVX | 334 | 176 | 97 | 90% | 81% | 244% |
| Sonoco Products | 284 | 303 | 214 | -6% | 42% | 33% |
| World Acceptance | 143 | 119 | 92 | 20% | 29% | 55% |
| Scansource | 111 | 76 | 76 | 46% | 0% | 46% |
| Advance America, Cash Centers | 105 | 66 | 88 | 59% | -25% | 19% |
| Kemet | 104 | (22) | (103) | 573% | 79% | 201% |
| Total all 6 Largest Corps | 1,081 | 718 | 464 | 51% | 55% | 133% |
| South Carolina Smaller Corps | ||||||
| Blackbaud | 53 | 46 | 45 | 15% | 2% | 18% |
| Regional Management Corp | 33 | 26 | 14 | 27% | 86% | 136% |
| 3D Systems | 32 | 20 | 2 | 60% | 900% | 1500% |
| Dennys | 30 | 20 | 22 | 50% | -9% | 36% |
| Delta Apparel | 22 | 17 | 7 | 29% | 143% | 214% |
| SCBT Financial | 20 | (12) | 20 | 267% | -160% | 0% |
| HCSB Financial | (24) | (22) | (2) | -9% | -1000% | -1100% |
| Palmetto Bancshares | (26) | (58) | (62) | 55% | 6% | 58% |
| AGY Holding | (29) | (27) | (41) | -7% | 34% | 29% |
| First Financial Holdings | (61) | (65) | (4) | 6% | -1525% | -1425% |
| Total all 10 Smaller Corps | 50 | (55) | 1 | 191% | -5600% | 4900% |
| Total all 16 Corps | 1,131 | 663 | 465 | 71% | 43% | 143% |
