61 San Fran/Silicon Valley Technology Company IPOs Since 2009 With Their Very Robust Total Revenue Growth Accelerating (Up 45% in 2014 Over 2013 After Being Up 36% in 2013 Over 2012) ..... But With Weak Audited US GAAP Earnings ..... And With Only 2 New Technology IPOs in 2015 So Far ..... All Points To President Obama Being Right on Need For TPA Now and TPP Later

There have been 61 Initial Public Offerings since 2009 related to Technology Companies headquartered in the San Francisco and Silicon Valley Areas and which have their common stocks currently trading and with a stock market cap of more than $100 mil.

These 61 San Fran/Silicon Valley Technology Company IPOs generated Total Revenues of $37.2 Bil in 2014, up a very robust 45% from their Total Revenues of $25.7 Bil in 2013, which was up a robust 36% from the 2012 Total Revenues of $18.9 Bil.  Yeah, these Total Revenues have nearly doubled in only two years.  Clearly Silicon Valley rules Technology, not just in the US, but also globally.

But on the downside, these 61 San Fran/Silicon Valley Area Technology Companies generated Audited Under US GAAP Total Losses of $626 mil in 2014 versus Total Losses of $63 mil in 2013 and Total Losses of $498 mil in 2012. 

There are 105 San Fran/Silicon Valley Area Technology Companies which had their common stocks trading from the end of 2008 to the current date and with current stock market caps above $100 mil.

So these 61 IPOs since 2009 added another 58% to this stack of 105 large San Fran/Silicon Valley Area Technology Companies.

Especially since Technology Companies all over the US have been getting acquired precipitously, due to extremely low interest rates and merger cost savings from many employees being dumped, the last thing California wants is to see any curtailment in their IPOs.

So what has happened in 2015?  Exactly that, with only 2 new San Francisco/Silicon Valley Technology IPOs so far.

The Technology IPO market needs certainty over international trade rules, including intellectual property rights.  This is the continuing downside risk if Trade Promotion Authority (TPA) and the Trans-Pacific Partnership (TPP) don't pass.  Countries like China would be able to set the international trade rules.  US Commerce Secretary Penny Pritzker has been right on this all along.

US House Minority Leader Nancy Pelosi is the key Democrat in the US House who will be determining whether the critical Trade Promotion Authority (TPA) gets passed quickly in the US House next week.  And there are 38 other California Democratic members of the US House who will be at least somewhat influenced by Nancy Pelosi's final vote on the critical TPA.

Particularly since her district is in San Francisco, Pelosi has always been a very strong advocate for San Fran/Silicon Valley Technology Companies.  And with much help from Pelosi, US Technology now dominates the world economically.  TPA and TPP passage will ensure this US dominance of Technology, as well as also substantially enhancing US National Security which emanates from it.
 
But it's not just Technology in California.  It's all US States seeing their number of new IPOs drying up in 2015.

Below here are the Audited Total Revenues for the three most recent fiscal years for each of these 61 San Fran/Silicon Valley Technology Company IPOs since 2009:

					Most	2014	2013	2012
					Recent	Total	Total	Total
IPO	San Fran/Silicon Valley Area Co IPO	City	State		FYE	Revenues	Revenues	Revenues
Date	During Obama Administration	HQs	Area	Sector		mil $s	mil $s	mil $s
	Technology IPOs
5/18/12	Facebook	Menlo Park	SF	Technology	Dec	12,466	7,872	5,089
8/6/09	Avago Technologies	San Jose	SF	Technology	Oct	4,269	2,520	2,364
5/19/11	LinkedIn	Mountain View	SF	Technology	Dec	2,219	1,529	972
3-27-14	TriNet Group	San Leandro	SF	Technology	Dec	2,194	1,644	1,019
11/7/13	Twitter	San Francisco	SF	Technology	Dec	1,403	665	317
6-26-14	GoPro	San Mateo	SF	Technology	Dec	1,394	986	526
10/12/12	Workday	Pleasanton	SF	Technology	Dec	788	469	274
11/18/09	Fortinet	Sunnyvale	SF	Technology	Dec	770	615	534
12/16/11	Zynga	San Francisco	SF	Technology	Dec	690	873	1,281
7/20/12	Palo Alto Networks	Santa Clara	SF	Technology	Jul	598	396	255
6-6-14	Arista Networks	Santa Clara	SF	Technology	Dec	584	361	193
4/19/12	Splunk	San Francisco	SF	Technology	Jan 15	451	303	199
9/20/13	FireEye	Milpitas	SF	Technology	Dec	426	162	83
3/24/10	Calix Networks	Petaluma	SF	Technology	Dec	401	383	330
3/2/12	Yelp!	San Francisco	SF	Technology	Dec	378	233	138
11/16/11	InvenSense	San Jose	SF	Technology	Mar 15	372	253	209
1/25/12	Guidewire Software	Foster City	SF	Technology	Jul	350	301	232
3/30/12	Enphase Energy	Petaluma	SF	Technology	Dec	344	233	217
11/16/12	Ruckus Wireless	Sunnyvale	SF	Technology	Dec	327	263	215
4/29/10	Alpha and Omega Semiconductor	Sunnyvale	SF	Technology	Jun	318	337	342
10/16/13	Veeva Systems	Pleasanton	SF	Technology	Jan 15	313	210	130
2/11/10	QuinStreet	Foster City	SF	Technology	Dec	283	305	370
11/6/13	Barracuda Networks	Campbell	SF	Technology	Feb 15	277	234	199
3/25/11	ServiceSource International	San Francisco	SF	Technology	Dec	272	272	244
5/10/12	WageWorks	San Mateo	SF	Technology	Dec	268	219	177
12/13/12	SolarCity	San Mateo	SF	Technology	Dec	255	164	127
10/14/11	Ubiquiti Networks	San Jose	SF	Technology	Jun	253	135	151
9/20/12	Trulia	San Francisco	SF	Technology	Dec	252	144	68
12/13/13	Nimble Storage	San Jose	SF	Technology	Jan 15	228	126	54
3-7-14	COUPONS.com	Mountain View	SF	Technology	Dec	222	168	112
9/27/13	RingCentral	San Mateo	SF	Technology	Dec	220	161	115
10/10/12	Ambarella	Santa Clara	SF	Technology	Jan 15	218	158	121
1-23-15	Box, Inc.	Los Altos	SF	Technology	Jan 15	216	124	59
4/20/12	Proofpoint	Sunnyvale	SF	Technology	Dec	196	138	106
3/13/13	Silver Spring Networks	Redwood City	SF	Technology	Dec	191	327	197
3-21-14	A10 Networks	San Jose	SF	Technology	Dec	180	142	120
12/13/11	Jive Software	Palo Alto	SF	Technology	Dec	179	146	114
11/9/11	Imperva	Redwood Shores	SF	Technology	Dec	164	138	104
4/15/11	Ellie Mae	Pleasanton	SF	Technology	Dec	162	128	102
6/12/13	Gigamon	Milpitas	SF	Technology	Dec	157	140	97
5/17/13	Marketo	San Mateo	SF	Technology	Dec	150	96	58
5/13/10	TeleNav	Sunnyvale	SF	Technology	Jun	150	192	206
3-28-14	Aerohive Networks	Sunnyvale	SF	Technology	Dec	137	107	71
6-12-14	MobileIron	Mountain View	SF	Technology	Dec	132	106	41
5-15-14	Zendesk	San Francisco	SF	Technology	Dec	127	72	38
2/10/11	Fluidigm	South San Francisco	SF	Technology	Dec	116	71	52
7-18-14	TubeMogul	Emeryville	SF	Technology	Dec	114	57	34
5/10/12	Audience	Mountain View	SF	Technology	Dec	113	160	144
12-12-14	New Relic	San Francisco	SF	Technology	Mar 15	110	63	30
9/28/12	Qualys	Redwood City	SF	Technology	Dec	105	83	73
4-4-14	Five9	San Ramon	SF	Technology	Dec	103	84	64
5/9/13	CYAN	Petaluma	SF	Technology	Dec	100	117	96
3/22/13	Marin Software	San Francisco	SF	Technology	Dec	99	77	60
3/28/12	Vocera Communications	San Jose	SF	Technology	Dec	95	102	101
10-3-14	Yodlee	Redwood City	SF	Technology	Dec	89	70	58
3/20/13	Model N	Redwood City	SF	Technology	Dec	82	102	84
9/27/13	Violin Memory	Santa Clara	SF	Technology	Jan 15	79	108	74
4/25/15	Apigee	San Jose	SF	Technology	Jul	53	43	28
12-12-14	Hortonworks	Palo Alto	SF	Technology	Dec	46	11	2
3-14-14	Castlight Health	San Francisco	SF	Technology	Dec	46	13	4
3-28-14	Energous	Pleasanton	SF	Technology	Dec	-	-	-
	Total Revenues all 61					37,294	25,711	18,874
	…..% Increase Over Prior Year					45%	36%

On the job front, the US Bureau of Labor reported that the unemployment rate for the San Francisco-Oakland-Hayward Metropolitan Statistical Area has dropped precipitously from 10.3% in January 2010 to only 4.0% in the most recently reported April 2015.

Further, the US Bureau of Labor reported that the unemployment rate for the San Jose-Sunnyvale Metropolitan Statistical Area has also dropped even more precipitously from 11.3% in August 2009 to also only 4.0% in the most recently reported April 2015.

15 Wisconsin Company IPOs Since 2009 Total 2014 Audited Earnings Up 313% Over 2013 ..... Shows Paul Ryan is Right on TPA

There have been 15 Initial Public Offerings since 2009 related to Companies headquartered in the State of Wisconsin.

These 15 Wisconsin IPOs generated Total Audited Earnings in their 2014 most recent fiscal years of $640 mil, which was an off-the-charts 313% increase over the comparable Total Audited Earnings of $155 mil in 2013.

How big of a deal are these 15 Wisconsin IPOs since 2009?  Well, really big.

These 15 IPOs, all with current stock market caps above $100 mil, have a Total Current Stock Market Capitalization of $20.5 bil. 

More to the point, there are 38 Companies headquartered in Wisconsin which had their common stocks trading from the end of 2008 to the current date with current stock market caps above $100 mil.

So these 15 IPOs since 2009 added another 39% to this stack of 38 Wisconsin Companies.

The last thing Wisconsin wants is to see any curtailment in their IPOs.  This is the downside risk if Trade Promotion Authority (TPA) doesn't pass.  Countries like China would be able to set the international trade rules.  Paul Ryan is precisely right here.

But it's not just Wisconsin.  It's all US States, especially ones with a much larger number of IPOs since 2009 like California, Massachusetts, New York, Texas, Illinois and so many more.

Below here are the Audited Earnings from continuing operations for the two most recent fiscal years for each of these 15 Wisconsin Company IPOs since 2009:

			2014	2013
		Most	Audited	Audited
		Recent	Net	Net
	City	2014	Income	Income
	HQs	FYE	(Loss)	(Loss)
Wisconsin IPOs Since 2009			mil $s	mil $s
Artisan Partners Asset Management	Milwaukee	Dec	239	(234)
Spectrum Brands Holdings	Middleton	Sep	215	(55)
Generac Holdings	Waukesha	Dec	175	175
Rexnord	Milwaukee	Mar 15	92	25
Lands' End	Dodgeville	Jan 15	74	79
Roadrunner Transportation Services	Cudahy	Dec	52	49
Douglas Dynamics	Milwaukee	Dec	40	12
Quad/Graphics	Sussex	Dec	18	31
Anchor BanCorp Wisconsin	Madison	Dec	15	78
Nicolet Bankshares	Green Bay	Dec	10	16
County Bancorp	Manitowoc	Dec	8	7
Physicians Realty Trust	Milwaukee	Dec	(4)	(3)
Connecture	Brookfield	Dec	(10)	(26)
Cellular Dynamics International	Madison	Dec	(31)	(25)
Roundys Inc	Milwaukee	Dec	(253)	26
Total all 15			640	155
Total Earnings Increase 2014 Over 2013	313%

Wisconsin Companies 2 Year 2014 and 2013 Audited Earnings Were $16.240 Bil, a $13.234 Bil Earnings Improvement, or Up 440% From the 2 Year 2009 and 2008 Audited Earnings of $3.006 Bil

US House of Representatives Ways and Means Chairman Paul Ryan is the key Republican in the US House who will be determining whether the critical Trade Promotion Authority (TPA) gets passed quickly in the US House next week.

And US House Minority Leader Nancy Pelosi is the key Democrat in the US House who will be determining whether the critical Trade Promotion Authority (TPA) gets passed quickly in the US House next week.

Since Paul Ryan represents Wisconsin, I think it would be helpful in this post to research how Wisconsin Companies have done on the Earnings Front since the 2008/2009 Financial Meltdown.

From a very thorough review of SEC filings, I found 48 Companies headquartered in the US State of Wisconsin with Stock Market Capitalizations now of at least $100 mil or the equivalent and which have also filed financial statements with the SEC which included earnings disclosures for all fiscal years from 2008 through the most recent year 2014.

So just how have these 48 largest Wisconsin Companies done on the earnings front before, during and after the 2008 financial meltdown?  Just great.

The Two Year Total Audited Net Income from Continuing Operation of these 48 largest Wisconsin Companies was a huge $16.240 bil in their Two Most Recent Fiscal Years 2014 and 2013 Combined, an increase of an exceptional $13.234 bil, or up a very robust 440% over the $3.006 bil Two Year Combined Total Earnings generated by these same 48 companies in their 2009 and 2008 fiscal year ends.

Also, these 48 largest Wisconsin Companies generated Total Audited Earnings in 2014 which was an increase of a very robust 17% over 2013.

Below here are the US GAAP Audited Net Income (Losses) of each of these 48 largest Wisconsin Companies for all of their fiscal years from 2008 through 2014:

			2014	2013	2012	2011	2010	2009	2008
		Most	Audited	Audited	Audited	Audited	Audited	Audited	Audited
		Recent	Net	Net	Net	Net	Net	Net	Net
	City	2014	Income	Income	Income	Income	Income	Income	Income
Wisconsin Company	HQs	FYE	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)
			mil $s	mil $s	mil $s	mil $s	mil $s	mil $s	mil $s
Johnson Controls	Milwaukee	Sep	1,553	1,191	1,225	1,741	1,566	(350)	1,003
Kohl's	Menomonee Falls	Jan 15	867	889	986	1,167	1,120	973	857
Harley-Davidson	Milwaukee	Dec	845	734	624	548	260	71	684
Rockwell Automation	Milwaukee	Sep	827	756	737	697	440	218	578
Fiserv	Brookfield	Dec	754	650	592	491	506	473	358
Snap-on	Kenosha	Dec	432	360	315	284	193	144	244
ManpowerGroup	Milwaukee	Dec	428	288	198	252	(264)	(9)	206
Joy Global	Milwaukee	Oct	331	534	767	631	461	455	373
Oshkosh Corp	Oshkosh	Sep	309	316	246	273	793	(1,167)	289
CNH Industrial Capital	Racine	Dec	259	266	214	202	162	116	89
MGIC Investment	Milwaukee	Dec	252	(50)	(927)	(486)	(364)	(1,322)	(525)
Bemis	Neenah	Dec	239	193	149	187	210	153	172
Artisan Partners Asset Management	Milwaukee	Dec	239	(234)	43	130	43	48	183
Spectrum Brands Holdings	Middleton	Sep	215	(55)	49	(75)	(187)	(113)	(905)
AO Smith	Milwaukee	Dec	208	170	163	111	57	61	47
Associated Banc-Corp	Green Bay	Dec	191	189	179	140	(1)	(132)	168
Generac Holdings	Waukesha	Dec	175	175	93	325	57	43	(556)
Manitowoc	Manitowoc	Dec	161	189	109	22	(75)	(613)	101
Actuant	Menomonee Falls	Aug	141	148	125	124	70	26	126
Rexnord	Milwaukee	Mar 15	92	25	47	30	(51)	88	(429)
Plexus	Neenah	Sep	87	82	62	89	90	46	84
Sensient Technologies	Milwaukee	Dec	82	114	125	120	107	87	91
Lands' End	Dodgeville	Jan 15	74	79	50	76	121	128	135
Roadrunner Transportation Services	Cudahy	Dec	52	49	38	26	4	0	(3)
Douglas Dynamics	Milwaukee	Dec	40	12	6	19	2	10	11
Journal Communications	Milwaukee	Dec	39	26	33	22	31	5	(227)
Regal Beloit	Beloit	Dec	36	126	200	158	155	99	129
Badger Meter	Milwaukee	Dec	30	25	28	19	29	27	25
Marten Transport	Mondovi	Dec	30	30	27	24	20	16	18
Briggs & Stratton	Wauwatosa	Jun	28	(34)	29	24	37	32	23
National Presto Industries	Eau Claire	Dec	26	41	39	48	64	63	44
Modine Manufacturing	Racine	Mar 15	22	132	(23)	38	9	(20)	(104)
The Marcus Corp	Milwaukee	May	21	23	23	14	16	17	20
Weyco Group	Milwaukee	Dec	20	18	20	16	14	13	17
STRATTEC Security	Milwaukee	Jun	19	12	12	8	4	(7)	3
Quad/Graphics	Sussex	Dec	18	31	56	(8)	(245)	53	109
Bank Mutual Corp	Milwaukee	Dec	15	11	7	(48)	(73)	14	17
Anchor BanCorp Wisconsin	Madison	Dec	15	78	(34)	(37)	(41)	(177)	(231)
Waterstone Financial	Wauwatosa	Dec	13	15	35	(7)	(2)	(10)	(26)
Nicolet Bankshares	Green Bay	Dec	10	16	3	2	1	1	0
Baylake Corp	Sturgeon Bay	Dec	9	8	8	4	1	4	(10)
Johnson Outdoors	Racine	Sep	9	19	10	33	7	(10)	(68)
Twin Disc Inc	Racine	Jun	4	4	27	19	1	12	24
Wausau Paper	Mosinee	Dec	(18)	(28)	(2)	(22)	37	21	(16)
Magnetek	Menomonee Falls	Dec	(26)	4	7	5	(3)	5	7
Brady	Milwaukee	Jul	(48)	(138)	103	109	82	70	132
Exact Sciences	Madison	Dec	(100)	(47)	(52)	(29)	(12)	(9)	(10)
Roundys Inc	Milwaukee	Dec	(253)	26	(76)	48	46	47	49
Total all 48			8,772	7,468	6,695	7,564	5,498	(300)	3,306
2 Year Earnings:
…2014 and 2013			16,240
…2009 and 2008			3,006
…..2 Year Earnings Improvement			13,234
…………% Increase			440%
Annual Earnings % Increase:
…2014 Over 2013			17%
…2014 Over 2012			31%