Monday, June 1, 2015

Los Angeles Area Companies 2014 Audited Earnings Up 12 Times From 2008 Earnings ..... Driven In Part By President Obama, Nancy Pelosi, Jerry Brown and the US Fed

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 this week.

Since Nancy Pelosi is the Democratic Minority Leader in the US House and is from California, which will benefit greatly from the TPA and especially from the Trans-Pacific Partnership, I think it would be helpful in this post to research how the Companies in the huge Los Angeles Area have done on the Earnings Front since the 2008 US Financial Meltdown.

From a very thorough review of SEC filings, I found 85 Companies headquartered in the Los Angeles Area with Stock Market Capitalizations now of at least $1 bil or the equivalent for Non-Public Companies.

So just how have these 85 largest Los Angeles Companies done on the earnings front before, during and after the 2008 financial meltdown?  Just absolutely fantastic earnings improvement.

The 2014 Total Audited Net Income from Continuing Operations of these 85 largest Los Angeles Area Companies was a huge $39.112 bil, an increase of an exceptionally off-the-charts 1,198% over the $3.013 bil  comparable Total Earnings generated by these same companies in their 2008 fiscal year ends.

So if the question to answer is how much better off are these largest Los Angeles Area Companies now than they were during their 2008 financial meltdown fiscal years, the answer is 12 times better, or $36 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 upwardly explosive happening with the Audited Earnings of Los Angeles Area Companies and among others, President Obama, Free and Fair Trade Advocate California US Senator Dianne Feinstein, Nancy Pelosi and the other 38 US House California Democrats, especially the many representing Districts in the Los Angeles Area, Jerry Brown, and the US Fed have all undoubtedly helped here.

Below here are the reported US GAAP Audited Net Income (Losses) of each of  these 85 largest Los Angeles Area Companies for all of their fiscal years from 2008 through 2014:

2014 2013 2012 2011 2010 2009 2008


2014 Audited Audited Audited Audited Audited Audited Audited


Most Net Net Net Net Net Net Net


Recent Income Income Income Income Income Income Income


FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
California Company HQs
mil $s mil $s mil $s mil $s mil $s mil $s mil $s










Los Angeles Area








…..Technology








Western Digital Irvine Jun        1,617         980     1,612         726     1,382         470         867
Activision Blizzard Santa Monica Dec           835     1,010     1,149     1,085         418         113       (107)
Broadcom Irvine Dec           652         424         719         927     1,082           65         215
Ingram Micro Santa Ana Dec           267         311         306         244         318         202       (395)
j2 Global Los Angeles Dec           125         108         122         115           83           67           73
CoreLogic Santa Ana Dec              91         100           95           53           84         104           34
International Rectifier El Segundo Jun              59         (89)         (55)         167           81       (247)         (59)
Qlogic Aliso Viejo Mar 15              51         (18)           74         119         141           68         124
OSI Systems Hawthorne Jun              48           44           46           33           24           11           14
Stamps.com El Segundo Dec              37           44           39           26              6              6           10
Semtech Camarillo Jan 15              28       (164)           42           89           73              1           38
Microsemi Aliso Viejo Sep              23           44         (30)           54           59         (27)           50
Ixia Calabasas Dec           (42)           12           45           24           11         (44)         (16)
TrueCar Santa Monica Dec           (48)         (25)         (74)           (9)           (4)           (7)










…..Health Care








Amgen Thousand Oaks Dec        5,158     5,081     4,345     3,683     4,627     4,605     4,052
Allergan Irvine Dec        1,533     1,273     1,101         938              5         624         565
Edwards Lifesciences Irvine Dec           811         389         292         237         218         229         129
Health Net Woodland Hills Dec           146         170           26           72         204         (49)           95
Masimo Irvine Dec              74           56           62           64           73           54           32
Molina Healthcare Long Beach Dec              63           45           13           21           55           31           60
The Ensign Group Mission Viejo Dec              34           26           41           48           41           32           28
ICU Medical San Clemente Dec              26           40           41           45           30           25           24
Endologix Irvine Dec           (32)         (16)         (36)         (29)           11           (2)         (12)
Kite Pharma Santa Monica Dec           (43)           (6)           (3)



MannKind Valencia Dec         (198)       (191)       (169)       (161)       (171)       (220)       (303)










…..Finance








Oaktree Capital Group Los Angeles Dec        2,176     6,211     6,672       (309)     5,281   11,874   (7,638)
Macerich Santa Monica Dec        1,607         159         303         209           32         181           97
Toyota Motor Credit Corp Torrance Mar 15        1,197         857     1,331     1,486     1,853     1,063       (623)
Public Storage Glendale Dec        1,150     1,057         930         834         689         797         982
American Honda Finance Torrance Mar           956     1,002     1,268     1,169


HCP Inc Long Beach Dec           907         911         801         550         321         103         228
Ares Management LP Los Angeles Dec           546         813     1,236         923     2,081            -              -  
CBRE Group Los Angeles Dec           514         322         304         240         142         (28)   (1,076)
East West Bancorp Pasadena Dec           342         295         282         245         165           82         (50)
City National Los Angeles Dec           259         233         209         176         135           52         110
Air Lease Los Angeles Dec           256         190         132           53         (52)            -              -  
PennyMac Mortgage Investment Trust Moorpark Dec           195         200         138           64           24           (2)            -  
Mercury General Los Angeles Dec           178         112         117         191         152         403       (242)
PacWest Bancorp Los Angeles Dec           170           45           57           51         (62)           (9)       (728)
Colony Financial Santa Monica Dec           160         126           68           43           18           (0)            -  
Cathay General Bancorp Los Angeles Dec           138         124         118         101           12         (67)           51
CVB Financial Ontario Dec           104           96           77           82           63           65           63
Alexandria Real Estate Equities Pasadena Dec              99         135           95         136           78         135         100
Kennedy-Wilson Holdings Beverly Hills Dec              90           14              7              7              6         (10)              1
BBCN Bancorp Los Angeles Dec              89           82           83           27           (7)           (6)              3
Sunstone Hotel Investors Aliso Viejo Dec              83           22              1           48         (30)         (44)           28
LTC Properties Westlake Village Dec              73           58           51           50           46           44           43
Kilroy Realty Los Angeles Dec              59           15           (5)              5           10           28           41
Douglas Emmett Inc Santa Monica Dec              53           53           28              2         (33)         (34)         (36)
Marcus & Millichap Calabasas Dec              50              8           28           13              8            -              -  
Sabra Health Care REIT Irvine Dec              47           34           20           13              0            -              -  
Hudson Pacific Properties Los Angeles Dec              24              1           (5)           (2)           (3)           (1)           (3)
American Homes 4 Rent Malibu Dec           (33)         (20)         (10)           (0)
           -              -  










…..Services








Walt Disney Co Burbank Sep        8,004     6,636     6,173     5,258     4,313     3,609     4,729
DIRECTV El Segundo Dec        2,775     2,885     2,977     2,636     2,312     1,007     1,607
Jacobs Engineering Group Pasadena Sep           352         440         391         335         246         400         421
AECOM Technology Los Angeles Sep           233         243         (57)         284         249         201         160
Lions Gate Entertainment Santa Monica Mar 15           182         152         232         (39)         (30)         (30)       (180)
VCA Antech Inc Los Angeles Dec           141         143           51         100         114         136         137
Tetra Tech Pasadena Sep           109           (2)         105           93           77           87           61
Wesco Aircraft Holdings Valencia Sep           102         105           92           76           74           58           59
Cheesecake Factory Calabasas Dec           101         114           98           96           82           43           52
Guess? Inc Los Angeles Jan 15              97         158         181         271         295         246         215
Crown Media Holdings Studio City Dec              95           68         107         319           24         (23)         (40)
On Assignment Calabasas Dec              79           55           37           24         (10)              5           19
Korn/Ferry Intl Los Angeles Apr              73           33           54           59              5         (10)           66
DineEquity Glendale Dec              36           72         128           75           (3)           31       (154)
Smart & Final Stores Commerce Dec              33              8              5              7           (0)           (3)
BJs Restaurants Huntington Beach Dec              27           21           31           32           23           13           10
Live Nation Entertainment Beverly Hills Dec         (104)         (36)       (162)         (70)       (208)       (126)       (333)
DreamWorks Animation SKG Glendale Dec         (308)           56         (36)           87         171         151         142










…..Other Sectors








KB Home Los Angeles Nov           918           40         (59)       (179)         (69)       (102)       (976)
Mattel El Segundo Dec           499         904         776         769         685         529         380
Monster Beverage Corona Dec           483         339         340         286         212         209         108
Breitburn Energy Partners LP Los Angeles Dec           421         (44)         (41)         111           35       (107)         378
Reliance Steel & Aluminum Los Angeles Dec           376         325         408         349         198         149         484
Herbalife Los Angeles Dec           309         528         464         413         299         203         221
Avery Dennison Pasadena Dec           251         244         158         154         242       (835)         153
Standard Pacific Irvine Dec           216         189         531         (16)         (12)         (13)   (1,231)
Teledyne Technologies Thousand Oaks Dec           216         185         163         142         120         116         117
Ryland Group Westlake Village Dec           176         379           42         (30)         (81)       (143)       (370)
Skechers USA Manhattan Beach Dec           152           61           11         (68)         136           51           53
Tutor Perini Sylmar Dec           108           87       (265)           86         104         137         (75)
TRI Pointe Homes Irvine Dec              84       (151)           61           35           52

Kaiser Aluminum Foothill Ranch Dec              72         105           86           25           12           71         (69)










Total all 85

    39,112   37,145   37,221   26,698   29,447   26,797     3,013










2014 Earnings Increase Over 2008:








….. Amount

    36,099




….. Percentage

1198%





On the job front, the US Bureau of Labor reported that the unemployment rate for the Los Angeles-Long Beach-Anaheim Metropolitan Statistical Area has dropped precipitously from 12.4% in July 2010 to 6.4% in the most recently reported April 2015.

Further, the US Bureau of Labor reported that the unemployment rate for the Oxnard-Thousand Oaks-Ventura Metropolitan Statistical Area has also dropped precipitously from 11.3% in August 2010 to only 5.4% in the most recently reported March 2015.
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