Thursday, March 21, 2013

US Third Biggest Technology Corps 2012 Annual Earnings Down 9%

I found 26 US Technology Corps filing with the SEC with Annual Non-GAAP Adjusted After-tax Net Income of more than $200 mil but not more than $500 mil in either the annual fiscal year end (FYE) 2012 or 2011 and which have released their 2012 annual earnings.   For January 2013 FYE companies, I am including them with the 2012 annual earnings numbers below.

Non-GAAP Adjusted After-tax Net Income, which is generally used by the investment community to value common stocks, 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 GAAP Net Income. 

How did they do?

Well, not so good, with Total 2012 Annual Non-GAAP Adjusted After-tax Net Income of $7.6 bil, down 9% from 2011.

This poor performance was pretty consistent with the 16% earnings decline in 2012 of the 24 Second Biggest Technology Corp.

On the other hand, the 32 top tier US Technology Corps with Non-GAAP Adjusted After-tax Net Income above $1 bil had their Total 2012 Annual Non-GAAP Adjusted After-tax Net Income increase by 14% over 2011.

This huge bifurcation in 2012 earnings between the top tier US Technology companies doing so well while the second and third top tier US Technology companies doing so poorly is not a good sign for the US economy.  You want these second and third top tier technology companies to be doing great too.....this is what will make the US economy thrive robustly in the long run.  A broad-based thriving Technology sector has always been the key competitive advantage of the US.

In these challenging times, taking wise steps to bolster the second, third and below tiers of the US Technology sector is what the US Congress should be working on, rather than on austerity, which does just the opposite.

Below here are these annual earnings of these 26 Third Biggest Technology Corps for both 2012 and 2011:





Non-GAAP Non-GAAP


Annual Annual Adjusted Adjusted


2012 2011 Net Net


Non-GAAP Non-GAAP Income Income


Adjusted Adjusted Increase Increase

Net Net (Decrease) (Decrease)

Income Income Amount %
Company FYE mils of $s mils of $s mils of $s
Technology




Roper Industries Dec 494 427 67 15.7%
Teradata Dec 489 399 90 22.6%
Amdocs Ltd Sep 460 435 25 5.7%
Autodesk Jan 450 405 45 11.1%
Expedia Dec 439 385 54 14.0%
Cerner Dec 421 325 96 29.5%
Microchip Technology Mar 384 462 (78) -16.9%
Skyworks Solutions Sep 366 360 6 1.7%
Verisk Analytics Dec 361 304 57 18.8%
F5 Networks Sep 349 308 41 13.3%
Akamai Technologies Dec 329 285 44 15.4%
VeriSign Dec 322 249 73 29.3%
Synopsys Oct 316 270 46 17.0%
Ingram Micro Dec 306 244 62 25.4%
Electronics Arts Mar 284 233 51 21.9%
Unisys Dec 282 256 26 10.2%
Ansys Dec 277 239 38 15.9%
Lexmark Dec 244 367 (123) -33.5%
FLIR Systems Dec 225 223 2 0.9%
TripAdvisor Dec 219 199 20 10.1%
ON Semiconductor Dec 213 395 (182) -46.1%
Tech Data Jan 189 226 (37) -16.4%
Atmel Dec 145 438 (293) -66.9%
Vishay Intertechnology Dec 111 246 (135) -54.9%
Netflix Dec 17 226 (209) -92.5%
AMD Dec -114 374 (488) -130.5%






Total all 26
7,578 8,280 (702) -8.5%