Thursday, May 7, 2015

South Dakota 10 Largest Companies and Hospitals 2014 Audited Earnings Up 7,755% Over 2008/2009 US Financial Meltdown Year Earnings

President Obama will be delivering the Commencement Address at Lake Area Technical Institute in Watertown, South Dakota on this Friday, May 8, 2015.  South Dakota is the only US State that President Obama hasn't visited yet while he has been US President.  Thus, as a backdrop for this Presidential visit,  I think it would be helpful to update just what has been going on with South Dakota businesses and hospitals as well as the overall economy there.

From a very thorough review of SEC filings and the Google Finance Website, I found 6 Publicly-held Companies headquartered in South Dakota with current common stock market capitalizations of at least $100 mil and which had Audited Financial Statements available for all Fiscal Years from 2008 through the most recent Fiscal Year End (FYE).

Also, from a very thorough review of the Electronic Municipal Market Access (EMMA), I found 4 Non-Profit Hospital Organizations headquartered in South Dakota with current Total Net Assets of at least $100 mil and which had Audited Financial Statements available for all Fiscal Years from 2008 through the most recent Fiscal Year End (FYE).

When I combine these 6 South Dakota For-Profit Publicly-held Companies with these 4 South Dakota Non-Profit Hospital Organizations, South Dakota Total Audited Earnings in the most recent fiscal year were $668 mil up an off-the-charts 7,755% over the $8 mil earned by these same 10 South Dakota Organizations 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 these 10 largest South Dakota Companies and Hospitals now than they were during their financial meltdown fiscal years, the answer is more than 77 times better or $659 mil 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 upwardly explosive happening with the South Dakota Companies and Hospital Audited Earnings and among others, President Obama, US Fed Chairs Ben Bernanke and Janet Yellen, former South Dakota US Senator Tim Johnson, current South Dakota US Senator John Thune as well as the Affordable Care Act have all undoubtedly helped here.

Below here are the Audited Earnings (Losses) of the 10 largest South Dakota For-Profit Publicly-held Companies and Non-Profit Hospital Organizations for their most recent fiscal years as well as for their 2008/9 fiscal years which included the 2008 US financial meltdown:






2008/9





Including
Most



Most

US
Recent



Recent
FYE Financial
FYE


FYE
2008/9 Meltdown
Earnings 



Audited
Including Audited
Better


Most Net
US Net
(Worse)


Recent Income
Financial Income
Than


FYE (Loss)
Meltdown (Loss)
2008/9
South Dakota Organization HQs
$000s

$000s
$000s









Publicly-held Companies






Black Hills Corp Rapid City Dec 14               128,781
 Dec 08                 (75,148)
              203,929
Northwestern Corp Sioux Falls Dec 14               120,686
 Dec 08                    67,601
                53,085
Raven Industries Sioux Falls Jan 15                 31,796
Jan 09                   28,574
                  3,222
Daktronics Brookings Apr 14                 22,206
Apr 09                   26,428
                (4,222)
Meta Financial Group Sioux Falls Sep 14                 15,713
 Sep 09                    (1,463)
                17,176
HF Financial Sioux Falls Jun 14                   6,602
 Jun 09                      7,816
                (1,214)









Non-Profit Hospital Organizations







Avera Health Sioux Falls Jun 14               127,072
 Jun 09                  (12,891)
              139,963
Sanford Health Sioux Falls Jun 14               117,986
 Jun 09                  (30,419)
              148,405
Regional Health Rapid City Jun 14                 72,001
 Jun 09                    (7,352)
                79,353
Prairie Lakes Health Care System Watertown May 14                 24,705
 May 09                      5,352
                19,353









Total all 10

              667,548

                    8,498
              659,050









% Earnings Increase

7,755%





On the employment front, South Dakota's most recently reported March 2015 Unemployment Rate of 3.5% is the 4th lowest of all US States.