These 10 Largest South Carolina Corps filing with the SEC generated Audited US GAAP Total After-tax Net Income from Continuing Operations of $651 mil in the most recent fiscal year 2011, which was an increase of an off-the-charts 379% above the Total After-tax Net Income of $136 mil generated by these same 10 Largest South Carolina companies just three years earlier in 2008, the last year of the Bush/Cheney Administration.
So if the question to be answered is whether, in the aggregate, these 10 Largest South Carolina Corps are better off now than they were in the last year of the Bush/Cheney Administration, the answer is clearly yes, and by $515 mil better, or by a huge 379% better, as audited earnings performance is measured by the prestigious US Accounting Profession.
So it's not just the Blue States and Swing States which have had their largest and somewhat largest corporations generate very strong earnings growth during the Obama Administration. Corporations in nearly all Red States, including South Carolina, have done likewise. This just shows that the Obama Administration has been evenhanded in focusing on creating an excellent US economic environment that have permitted businesses all throughout the country to prosper.
In focusing on the annual total earnings changes, these South Carolina companies had exceptional triple-digit percentage total earnings growth in both 2009 and 2010, when both the US House and the US Senate were under Democratic control. However, these South Carolina companies experienced a total earnings decline in 2011, after the November 2010 Tea Party election.
Below here is the Audited under US GAAP After-tax Net Income or Net Loss from Continuing Operations for each of these 10 Largest South Carolina Corps for each of the most recent five fiscal years. The majority of these 10 Corporations have a December Fiscal Year End (FYE).
| FYE | FYE | FYE | FYE | FYE | ||
| 2011 | 2010 | 2009 | 2008 | 2007 | ||
| Reported | Reported | Reported | Reported | Reported | ||
| Audited | Audited | Audited | Audited | Audited | ||
| After-Tax | After-Tax | After-Tax | After-Tax | After-Tax | ||
| Net Income | Net Income | Net Income | Net Income | Net Income | ||
| HQs | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | |
| mil $s | mil $s | mil $s | mil $s | mil $s | ||
| South Carolina Largest Corps | ||||||
| Sonoco Products | Hartsville | 218 | 201 | 155 | 157 | 212 |
| AVX | Fountain Inn | 152 | 244 | 143 | 81 | 149 |
| Dennys | Spartanaburg | 112 | 23 | 42 | 13 | 30 |
| World Acceptance | Greenville | 101 | 91 | 74 | 56 | 50 |
| Scansource | Greenville | 74 | 74 | 49 | 48 | 56 |
| Advance America, Cash Centers | Spartanaburg | 54 | 38 | 54 | 36 | 68 |
| SCBT Financial | Columbia | 23 | 52 | 14 | 16 | 22 |
| Kemet | Simpsonville | 7 | 63 | (69) | (285) | (25) |
| Palmetto Bancshares | Laurens | (23) | (60) | (40) | 14 | 16 |
| AGY Holding | Aiken | (67) | (15) | (94) | 0 | (1) |
| Total all 10 Largest South Carolina Corps | 651 | 711 | 328 | 136 | 577 | |
| Annual Increase (Decrease) | ||||||
| …..Amount | (60) | 383 | 192 | (441) | ||
| …..Percentage | -8% | 117% | 141% | -76% | ||
| Three Year Increase (2008-2011) Under Obama | ||||||
| …..Amount | 515 | |||||
| …..Percentage | 379% | |||||
