Monday, February 9, 2015

San Francisco/Silicon Valley, Calif Technology Companies 2014 Earnings Were $114 Bil, Up 696% Over 2008/2009 US Financial Meltdown Year Earnings of $14 Bil

President Obama will be visiting the San Francisco and Silicon Valley Area this week on Thursday, February 12 and Friday, February 13.  Since he will be giving a speech at the Cybersecurity Summit at Stanford Universty, meet later with business leaders and also be present at a Democratic National Committee Fundraiser in San Francisco, I think it would be helpful to update just what has been going on with San Francisco/Silicon Valley businesses and the overall economy there.

In this first post I will be addressing the key San Francisco/Silicon Valley Technology Companies earnings.

From a very thorough review of SEC filings, I found an incredibly huge number of 107 Technology Companies headquartered in the San Francisco Bay/Silicon Valley Area with Stock Market Capitalizations now of at least $1 bil.

Of these 107 Companies, 83 of them filed financial statements with the SEC which included earnings disclosures for all fiscal years from the 2008/9 fiscal year ends which included the US financial meltdown through the current year 2014.

The other 24 Companies include 9 which didn't have their earnings disclosures for 2008/9 fiscal year ends (including Twitter and GoPro) and 13 of them having December year ends which haven't released their December 2014 annual financial statements yet.

So just how have these 83 largest San Francisco Bay/Silicon Valley Area Technology Companies done on the earnings front before, during and after the 2008 financial meltdown?  Just incredibly well.

The Total Net Income from Continuing Operations, predominantly audited numbers, of these 83 largest San Francisco/Silicon Valley Technology Companies was $113.736 bil in their Most Recent fiscal Years Ending in 2014, an increase of a spectacular 696% over the $14.281 bil earned by these same 83 companies in their 2008/9 fiscal year ends which included the 2008 US financial meltdown.

So if the question to answer is how much better off are the largest San Francisco Bay/Silicon Valley Technology Companies now than they were during their financial meltdown fiscal years, the answer is nearly 7 times better or nearly $100 bil better as audited earnings under US generally accepted accounting principles (US GAAP) are measured by the very prestigious US accounting profession.

There has been something nearly miraculous happening with San Francisco Bay/Silicon Valley Technology Companies Earnings in the past 6 years, and among others, President Obama, Ben Bernanke, Janet Yellen, Jerry Brown, US Senators Barbara Boxer and Dianne Feinstein, Nancy Pelosi, and all US House members and all State legislature members from this special area have all undoubtedly helped here. 

Below here are the US GAAP Net Income (Losses) of each of these 83 largest San Francisco Bay Area/Silicon Valley Area Technology Companies for their 2014 fiscal years as well as for their 2008/9 fiscal years which included the 2008 US financial meltdown:




FYE







2008/9







Including




FYE

US
FYE



2014
FYE Financial
2014


US
2008/9 Meltdown
Earnings 



GAAP
Including US GAAP
Better


Net
US Net
(Worse)


2014 Income
Financial Income
Than


FYE (Loss)
Meltdown (Loss)
2008/9
California Company HQs
mil $s

mil $s
mil $s









San Francisco Bay and Silicon Valley Areas




…..Technology






Apple Cupertino Sep     39,510
Sep 08        4,834
    34,676
Google Mountain View Dec     13,928
Dec 08        4,227
       9,701
Intel Santa Clara Dec     11,704
Dec 08        5,292
       6,412
Oracle Redwood City May     10,955
May 09        5,593
       5,362
Cisco Systems San Jose Jul        7,853
Jul 09        6,134
       1,719
Yahoo! Sunnyvale Dec        7,532
Dec 08           425
       7,107
Hewlett-Packard Palo Alto Oct        5,013
Oct 08        8,329
    (3,316)
Facebook Menlo Park Dec        2,940
Dec 08           (56)
       2,996
Seagate Technology Cupertino Jun        1,570
Jun 09     (3,125)
       4,695
Applied Materials Santa Clara Oct        1,072
Oct 08           961
          111
SanDisk Milpitas Dec        1,007
Dec 08     (1,987)
       2,994
Symantec Mountain View Mar           898
Mar 09     (6,786)
       7,684
VMware Palo Alto Dec           886
Dec 08           290
          596
Intuit Mountain View Jul           861
Jul 09           447
          414
Check Point Software San Carlos Dec           660
Dec 08           324
          336
NetApp Sunnyvale Apr           638
Apr 09              65
          573
Lam Research Fremont Jun           632
Jun 09         (302)
          934
Xilinx San Jose Mar           630
Mar 09           362
          268
KLA-Tencor Milpitas Jun           583
Jun 09         (523)
       1,106
Agilent Technologies Santa Clara Oct           504
Oct 08           693
        (189)
Altera San Jose Dec           473
Dec 08           360
          113
Linear Technology Milpitas Jun           460
Jun 09           289
          171
NVIDIA Santa Clara Jan           440
Jan 09           (30)
          470
Flextronics San Jose Mar           366
Mar 09     (6,136)
       6,502
Maxim Integrated Products San Jose Jun           355
Jun 09              10
          345
Marvell Technology Santa Clara Jan           315
Jan 09           147
          168
Avago Technologies San Jose Oct           309
Oct 08              57
          252
Adobe Systems San Jose Nov           268
Nov 08           872
        (604)
Netflix Los Gatos Dec           267
Dec 08              83
          184
Synopsys Mountain View Oct           259
Oct 08           190
             69
Brocade Communication Systems San Jose Oct           238
Oct 08           166
             72
Autodesk San Rafael Jan           229
Jan 09           184
             45
Dolby Laboratories San Francisco Sep           209
Sep 08           201
               8
Sanmina San Jose Sep           197
Sep 08         (513)
          710
SYNNEX Fremont Nov           180
Nov 08              77
          103
Ubiquiti Networks San Jose Jun           177
Jun 09              10
          167
Cadence Design Systems San Jose Dec           159
Dec 08     (1,857)
       2,016
Informatica Redwood City Dec           114
Dec 08              56
             58
Finisar Sunnyvale Apr           112
Apr 09         (262)
          374
Integrated Device Technology San Jose Mar           111
Mar 09     (1,045)
       1,156
Fair Isaac San Jose Sep              95
Sep 08              81
             14
OmniVision Technologies Santa Clara Apr              95
Apr 09           (38)
          133
Riverbed Technology San Francisco Dec              71
Dec 08              11
             60
Power Integrations San Jose Dec              60
Dec 08                2
             58
Coherent Santa Clara Sep              59
Sep 08              23
             36
Intersil Milpitas Dec              55
Dec 08     (1,063)
       1,118
Super Micro Computer San Jose Jun              54
Jun 09              16
             38
Advent Software San Francisco Dec              50
Dec 08              17
             33
Synaptics San Jose Jun              47
Jun 09              48
             (1)
eBay Inc San Jose Dec              46
Dec 08        1,779
    (1,733)
Polycom San Jose Dec              42
Dec 08              76
          (34)
Yelp! San Francisco Dec              36
Dec 08              (6)
             42
Monolithic Power Systems San Jose Dec              35
Dec 08              24
             11
Electronics for Imaging Fremont Dec              34
Dec 08         (113)
          147
Atmel Corp San Jose Dec              32
Dec 08           (27)
             59
Omnicell Mountain View Dec              31
Dec 08              13
             18
Qualys  Redwood City Dec              30
Dec 08              (1)
             31
Rambus Sunnyvale Dec              26
Dec 08         (199)
          225
Ambarella  Santa Clara Jan              26
Jan 09              (3)
             29
Fortinet Sunnyvale Dec              25
Dec 08                7
             18
LinkedIn Mountain View Dec              15
Dec 08              (5)
             20
Guideware Software Foster City Jul              15
Jul 09           (11)
             26
Infinera Corp Sunnyvale Dec              14
Dec 08              79
          (65)
Netgear San Jose Dec                9
Dec 08              18
             (9)
Electronic Arts Redwood City Mar                8
Mar 09     (1,088)
       1,096
InvenSense  San Jose Mar                6
Mar 09                0
               6
PMC-Sierra Sunnyvale Dec                0
Dec 08           128
        (128)
Barracuda Networks    Campbell Feb              (4)
Feb 09                3
             (7)
JDS Uniphase Milpitas Jun           (18)
Jun 09         (906)
          888
Aruba Networks Sunnyvale Jul           (29)
Jul 09           (23)
             (6)
Fairchild Semiconductor San Jose Dec           (35)
Dec 08         (167)
          132
VeriFone Systems San Jose Oct           (36)
Oct 08         (411)
          375
Cepheid Sunnyvale Dec           (50)
Dec 08           (22)
          (28)
Fluidigm  South San Francisco Dec            (53)
Dec 08           (29)
          (24)
Imperva  Redwood Shores Dec            (59)
Dec 08              (8)
          (51)
Proofpoint  Sunnyvale Dec            (64)
Dec 08           (26)
          (38)
Splunk San Francisco Jan           (79)
Jan 09           (15)
          (64)
NetSuite San Mateo Dec         (100)
Dec 08           (17)
          (83)
Workday Pleasanton Jan         (172)
Jan 09           (51)
        (121)
Palo Alto Networks Santa Clara Jul         (226)
Jul 09           (19)
        (207)
Salesforce.com San Francisco Jan         (232)
Jan 09              48
        (280)
Juniper Networks Sunnyvale Dec         (334)
Dec 08           512
        (846)
Advanced Micro Devices Sunnyvale Dec         (403)
Dec 08     (2,412)
       2,009









Total all 83

  113,736

    14,281
    99,455






   

Earnings % Increase 2014 Over 2008/9
696%








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