These 7 South Dakota Corps generated Total Pretax Income in 2011 which was up a very robust 92% from 2010.
And I found 3 North Dakota headquartered Corps, which file with the SEC, and with Pretax Income or Pretax Loss of $10 mil or more in any of the most recent three years.
These 3 North Dakota Corps generated Total Pretax Income in 2011 which was up 18% from 2010.
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.
Below here is the Pretax Income (PTI) and Pretax Loss (PTL) of these South Dakota and North Dakota Corps for each of the most recent three years, along with the related annual percentage changes.
| PTI(L) | PTI(L) | |||||
| % | % | |||||
| Change | Change | |||||
| PTI(L) | PTI(L) | PTI(L) | 2011 | 2010 | ||
| 2011 | 2010 | 2009 | vs | vs | ||
| Headquarters | mils $s | mils $s | mils $s | 2010 | 2009 | |
| North Dakota | ||||||
| MDU Resources | Bismark | 336 | 367 | 401 | -8% | -8% |
| Minn-Dakota Farmers Cooperative | Wahpeton | 187 | 101 | 96 | 85% | 5% |
| Titan Machinery | West Fargo | 73.6 | 37.2 | 27.0 | 98% | 38% |
| Total all 3 North Dakota Corps | 596.6 | 505.2 | 524.0 | 18% | -4% | |
| South Dakota | ||||||
| Raven Industries | Sioux Falls | 76 | 60 | 43 | 27% | 40% |
| Daktronics | Brookings | 22 | (8) | 42 | 375% | -119% |
| Lake Area Corn Processors | Wentworth | 17.4 | 7.0 | 4.9 | 149% | 43% |
| National American University Holdings | Rapid City | 16.7 | 16.5 | 4.9 | 1% | 237% |
| HF Financial | Sioux Falls | 0.4 | 9.3 | 11.7 | -96% | -21% |
| Lodgenet Interactive | Sioux Falls | (3.1) | (9.8) | (17.2) | 68% | 43% |
| Summit Hotel Properties | Sioux Falls | (12.4) | (14.2) | (10.3) | 13% | -38% |
| Total all 7 South Dakota Corps | 117.0 | 60.8 | 79.0 | 92% | -23% | |
| Total all 10 Dakota Corps | 713.6 | 566.0 | 603.0 | 26% | -6% |
