I found 39 US Technology Corps, which file with
the SEC, which have already reported their calendar December 2012 quarterly
earnings through the end of today January 24, 2013, and which reported Adjusted After-tax Net Income or Net Loss of at least $100 mil in either the 4Q 2012 or in the 4Q 2011.
These 39 US Technology Corps generated Total Adjusted After-tax Net Income in the 4Q 2012 of $47,320 mil, down 1% from the $47,914 mil like earnings generated in the 4Q 2011.
This Adjusted After-tax Net Income above was used when this amount was disclosed in the company's earnings release, and it excludes Special, Unusual Items which are significant in amount relative to Reported Net Income.
This was pretty consistent with the 1% earnings growth of the 66 largest US Technology Corps in the 3Q 2012 over the 3Q 2011.
There has been a continuing substantial earnings growth deceleration of these large Technology Corps since their earnings growth peaked in 2010, as you can see in the below links of earlier posts I made on 2012 Quarterly Technology Corp Earnings.
On the positive side, the Total Revenues of these 39 Tech Corps in the 4Q 2012 was 4% higher than that reported in the 4Q 2011.
On the negative side, exclusive of Apple, which generated an 18% Revenue increase, the remaining 38 Tech Corps registered Total Revenues in the 4Q 2012 which was flat with that in the 4Q 2011.
Apple's After-tax Net Income in the 4Q 2012 was precisely flat with that earned in the 4Q 2011. Apple's Revenues results did much better than its earnings due mainly to substantially lower Gross Margins, which were 38.6% of Revenues in the 4Q 2012 vs. a much higher 44.7% of Revenues in the 4Q 2011. It looks like Apple might be running into increased competition here.
Intel, Dell, Applied Materials and Advanced Micro Devices also ran into similar Gross Margin Percentage declines as did Apple.
The stick out winners here were Google, which generated 4Q 2012 Revenue growth of $3.8 bil, or 36% over the 4Q 2011, and Western Digital, which registered 4Q 2012 Revenue growth of $1.2 bil, or 92% over the 4Q 2011.
But there is something seriously wrong with the US economy when the very largest Big 8 US Financial Corps generate Total Earnings growth of 56% and the next 13 largest US Banks generate Total Earnings growth of 40%, both in the most recent 4Q 2012, while at the same time, these above 39 of the largest Corps in the key US Technology had their 4Q 2012 Total Earnings decline by 1%.
It's pretty clear that the US Congress needs to provide some robust fiscal stimulus to the Technology sector that especially benefits the smaller Technology Corps.
And the Technology sector would benefit greatly if someone like Sheryl Sandberg ends up in the second-term Obama Cabinet.
Below here are the Adjusted After-tax Net Income and Total Revenues of each of these 39 Technology Corps in the 4Q 2012 and in the 4Q 2011:
| 4Q 2012 | 4Q 2011 | |||||||
| Non-GAAP | Non-GAAP | |||||||
| Adjusted | Adjusted | Increase | Increase | 4Q 2012 | 4Q 2011 | Increase | ||
| Big | Net | Net | (Decrease) | (Decrease) | Total | Total | (Decrease) | |
| Corp | Income | Income | Amount | % | Revenues | Revenues | % | |
| mils of $s | mils of $s | mils of $s | mils of $s | mils of $s | ||||
| Technology | ||||||||
| Apple | 13,078 | 13,064 | 14 | 0% | 54,512 | 46,333 | 18% | |
| Microsoft | 6,377 | 6,624 | (247) | -4% | 21,456 | 20,885 | 3% | |
| IBM | 6,129 | 5,597 | 532 | 10% | 29,304 | 29,486 | -1% | |
| 3,568 | 3,127 | 441 | 14% | 14,419 | 10,584 | 36% | ||
| Oracle | 3,122 | 2,784 | 338 | 12% | 9,094 | 8,792 | 3% | |
| Intel | 2,609 | 3,523 | (914) | -26% | 13,477 | 13,887 | -3% | |
| Cisco Systems | 2,569 | 2,322 | 247 | 11% | 11,876 | 11,256 | 6% | |
| Hewlett Packard | 2,281 | 2,350 | (69) | -3% | 29,959 | 32,122 | -7% | |
| Ebay | 927 | 789 | 138 | 17% | 3,992 | 3,380 | 18% | |
| Accenture | 766 | 712 | 54 | 8% | 7,668 | 7,589 | 1% | |
| Dell | 679 | 983 | (304) | -31% | 13,721 | 15,365 | -11% | |
| Western Digital | 513 | 358 | 155 | 43% | 3,824 | 1,995 | 92% | |
| Motorola Solutions | 476 | 444 | 32 | 7% | 2,441 | 2,300 | 6% | |
| Texas Instruments | 417 | 537 | (120) | -22% | 2,979 | 3,420 | -13% | |
| Xerox | 386 | 462 | (76) | -16% | 5,923 | 5,964 | -1% | |
| Symantec | 313 | 314 | (1) | 0% | 1,791 | 1,715 | 4% | |
| Adobe Systems | 308 | 333 | (25) | -8% | 1,153 | 1,152 | 0% | |
| Agilent Technologies | 303 | 296 | 7 | 2% | 1,767 | 1,728 | 2% | |
| CA | 288 | 319 | (31) | -10% | 1,195 | 1,263 | -5% | |
| Sandisk | 257 | 317 | (60) | -19% | 1,542 | 1,577 | -2% | |
| Nvidia | 246 | 217 | 29 | 13% | 1,204 | 1,066 | 13% | |
| NetApp | 189 | 236 | (47) | -20% | 1,541 | 1,507 | 2% | |
| Check Point Software | 185 | 178 | 7 | 4% | 369 | 357 | 3% | |
| Analog Devices | 179 | 184 | (5) | -3% | 695 | 716 | -3% | |
| Paychex | 148 | 140 | 8 | 6% | 569 | 546 | 4% | |
| Flextronics | 148 | 131 | 17 | 13% | 6,123 | 7,469 | -18% | |
| Juniper Networks | 145 | 150 | (5) | -3% | 1,141 | 1,121 | 2% | |
| Jabil Circuit | 128 | 136 | (8) | -6% | 4,637 | 4,327 | 7% | |
| Maxim Integrated Products | 125 | 101 | 24 | 24% | 605 | 591 | 2% | |
| Altera | 121 | 147 | (26) | -18% | 439 | 458 | -4% | |
| Marvell Technology | 113 | 244 | (131) | -54% | 781 | 950 | -18% | |
| SAIC | 112 | 117 | (5) | -4% | 2,870 | 2,790 | 3% | |
| Autodesk | 108 | 102 | 6 | 6% | 548 | 549 | 0% | |
| KLA Tencor | 106 | 122 | (16) | -13% | 673 | 642 | 5% | |
| Linear Technology | 104 | 105 | (1) | -1% | 305 | 294 | 4% | |
| Xilinx | 104 | 127 | (23) | -18% | 510 | 511 | 0% | |
| Applied Materials | 70 | 271 | (201) | -74% | 1,646 | 2,182 | -25% | |
| Advanced Micro Devices | (102) | 138 | (240) | -174% | 1,155 | 1,691 | -32% | |
| Micron Technology | (275) | (187) | (88) | -47% | 1,834 | 2,090 | -12% | |
| Total all 39 Techs | 47,320 | 47,914 | (594) | -1% | 259,738 | 250,650 | 4% |
