Saturday, October 6, 2012

Red State Wyoming Audited Corporate Earnings Up 66% During Obama Administration

From an extensive review of SEC filings, I found 5 Corps headquartered in the Red State of Wyoming with externally audited under US Generally Accepted Accounting Principles (US GAAP) After-tax Net Income or Net Loss from Continuing Operations of at least $10 mil in any of the most recent five fiscal years.

These 5 Largest Wyoming Corps filing with the SEC generated Audited US GAAP Total After-tax Net Income from Continuing Operations of $154 mil in the most recent fiscal year 2011, which was an earnings improvement of $61 mil, or up 66% as compared with the Total After-tax Net Income of $93 mil generated by these same 5 Largest Wyoming 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 5 Largest Wyoming Corps are better off now than they were in the last year of the Bush/Cheney Administration, the answer is yes, and by $61 mil better, or by 66% 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 Wyoming, 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 5 Largest Wyoming Corps for each of the most recent five fiscal years.  A majority of these 5 Corporations have a December Fiscal Year End (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
Wyoming Largest Corps
Cloud Peak Energy Gillette 190 117 183 88 54
Double Eagle Petroleum Casper 12 6 1 10 (12)
Great Lakes Aviation Cheyenne 11 5 6 2 18
US Energy Corp Riverton (2) 1 (9) (7) 62
High Plains Gas Gillette (57) (5) 0 0 0

Total all 5 Largest Wyoming Corps 154 124 181 93 122

Annual Increase (Decrease)

30 (57) 88 (29)
24% -31% 95% -24%

Three Year Increase (2008-2011) Under Obama