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:
|Company||FYE||mils of $s||mils of $s||mils of $s|
|Total all 26||7,578||8,280||(702)||-8.5%|