Saturday, October 6, 2012

Red State South Dakota Audited Corporate Earnings Up 550% During Obama Administration

From an extensive review of SEC filings, I found 9 Corps headquartered in the Red State of South Dakota, Red based on the present Presidential polls, with externally audited under US Generally Accepted Accounting Principles (US GAAP) After-tax Net Income or Net Loss from Continuing Operations of at least $5 mil in any of the most recent five fiscal years.

These 9 Largest South Dakota Corps filing with the SEC generated Audited US GAAP Total After-tax Net Income from Continuing Operations of $78 mil in the most recent fiscal year 2011, which was an earnings improvement of $66 mil, or up 550% as compared with the Total After-tax Net Income of $12 mil generated by these same 9 Largest South Dakota 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 9 Largest South Dakota Corps are better off now than they were in the last year of the Bush/Cheney Administration, the answer is clearly yes, and by $66 mil better, or by 550% 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 excellent earnings growth during the Obama Administration.   Corporations in nearly all Red States, including South Dakota, 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.

Below here is the Audited under US GAAP After-tax Net Income or Net Loss from Continuing Operations for each of these 9 Largest South Dakota Corps for each of the most recent five fiscal years (FYEs).




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

(Loss) (Loss) (Loss) (Loss) (Loss)

HQs mil $s mil $s mil $s mil $s mil $s
South Dakota Largest Corps





Raven Industries Sioux Falls 51 41 29 31 28
Lake Area Corn Processors Wenworth 17 7 5 (17) 18
Daktronics Brookings 8 14 (7) 26 26
National American University Holdings Rapid City 5 10 10 3 0
HF Financial Sioux Falls 5 1 6 8 6
Meta Financial Sioux Falls 5 12 (1) (2) 1
South Dakota Soybean Processors Volga 0 2 0 7 7
Lodgenet Interactive Sioux Falls (1) (12) (10) (48) (65)
Summit Hotel Properties Sioux Falls (12) (21) (18) 4 4







Total all 9 Largest South Dakota Corps 78 54 14 12 25







Annual Increase (Decrease)





…..Amount
24 40 2 (13)
…..Percentage
44% 286% 17% -52%







Three Year Increase (2008-2011) Under Obama




…..Amount
66



…..Percentage
550%