Wednesday, June 10, 2015

Massachusetts Smaller Companies 2012-4 Three Year Audited Earnings Up 38 Times From 2008-10 Three Year Audited Earnings ..... Driven In Part By President Obama, Former Governor Deval Patrick, Massachusetts US Senators Elizabeth Warren and Ed Markey, Massachusetts Democratic US House Members and the US Fed

From a very thorough review of SEC filings, I found a huge number of 95 Companies, predominately Technology and Biotechnology and other Health Care ones, headquartered in the highly entrepreneurial, intensely research-focused State of Massachusetts with Stock Market Capitalizations now of more than $1 bil and with 2014 Audited Financial Statements filed with the SEC.

Eleven of these 95 Massachusetts Companies have Stock Market Capitalizations now of more than $20 bil.  The Total Audited Earnings of these 11 have been on fire in the two most recent years, with 2014 Audited Earnings up 60% over 2012, as you can see in the below chart:

2014 2013 2012


2014 Audited Audited Audited


Most Net Net Net


Recent Income Income Income
Massachusetts Company HQs FYE (Loss) (Loss) (Loss)


mil $s mil $s mil $s






Biogen Idec Cambridge Dec        2,942     1,862     1,380
EMC Corp Hopkinton Dec        2,894     3,093     2,886
Thermo Fisher Scientific Waltham Dec        1,896     1,279     1,258
Covidien plc Mansfield Sep        1,662     1,600     1,637
TJX Companies Framingham Jan 15        2,215     2,137     1,907
American Tower Boston Dec           803         482         594
State Street Corp Boston Dec        2,037     2,136     2,061
Raytheon Waltham Dec        2,193     1,949     1,901
Vertex Pharmaceuticals Cambridge Dec         (742)       (504)           32
Boston Scientific Natick Dec         (119)       (121)   (4,068)
Analog Devices Norwood  Oct           629         673         651






Total all 11

      16,410     14,586     10,239






Earnings Increase 2014 Over 2013

13%

Earnings Increase 2014 Over 2012

60%


There are a very large number of 84 Somewhat Smaller Massachusetts Companies with Stock Market Capitalizations now of between $1 bil and $20 bil.

So just how have these 84 Somewhat Smaller Massachusetts Companies done on the earnings front before, during and after the 2008 financial meltdown?  Just spectacular off-the-charts earnings improvement.

The Total Audited Net Income from Continuing Operations of these 84 Somewhat Smaller Massachusetts Companies for the 3 years 2012-14 Combined was $11.968 bil, an increase of an incredibly off-the-charts 3,795% over the $0.307 bil comparable Total Earnings in the 3 years 2008-2010 Combined.

So if the question to answer is how much better off are these Somewhat Smaller Massachusetts Companies recently than they were during their five-year earlier 2008-2010 fiscal years, the answer is 38 times better, or $11.7 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 the many Somewhat Smaller Massachusetts Companies and among others, President Obama, Former Massachusetts Governor Deval Patrick, Massachusetts US Senators Elizabeth Warren and Ed Markey, Massachusetts US Democratic House Members Richard Neal, James McGovern, Niki Tsongas, Joseph Kennedy, Katherine Clark, Seth Moulton, Michael Capuano, Stephen Lynch and William Keating, and the US Fed have all undoubtedly helped here.

Below here are the reported US GAAP Audited Net Income (Losses) of each of  these 84 Somewhat Smaller Massachusetts Companies for all of their fiscal years reported 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
Massachusetts Company HQs FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
Smaller Companies
mil $s mil $s mil $s mil $s mil $s mil $s mil $s










Skyworks Solutions Wobum Sep           458         278         202         227         137           93         111
Boston Properties Boston Dec           358         704         285         314         188         263         131
Akamai Technologies Cambridge Dec           334         293         204         201         171         146         145
Affiliated Managers Group Prides Crossing Dec           786         670         411         360         287         213         132
Waters Corp Milford Dec           432         450         461         433         382         323         322
TripAdvisor Newton Dec           226         205         195         178         139         102           72
Alnylam Pharmaceuticals Cambridge Dec         (360)         (89)       (106)         (58)         (44)         (48)         (26)
Staples Framingham Jan           135         707       (161)         983         889         757         814
Hologic Bedford Sep              17   (1,173)         (74)         157         (63)   (2,217)       (416)
Sensata Technologies Attleboro Dec           284         188         177              6         130         (27)       (114)
Synageva BioPharma Lexington Dec         (193)         (95)         (43)         (25)         (11)         (11)         (22)
Iron Mountain Boston Dec           329         100         183         246         167         232           82
bluebird bio Cambridge Dec           (49)         (25)         (24)         (16)


PerkinElmer Waltham Dec           161         174           71              1         139           73           45
Nuance Communications Burlington Sep         (150)       (115)         207           38         (19)         (12)         (30)
Dunkin Brands Group Canton Dec           176         146         108           34           27           35       (270)
IPG Photonics Oxford Dec           200         156         148         121           54              5           39
PTC Inc Needham Sep           160         144         (35)           85           24           32           80
Eaton Vance Boston Oct           321         230         265         228         201         136         203
Agios Pharmaceuticals Cambridge Dec           (54)         (39)         (20)         (24)


athenahealth Watertown Dec              (3)              3           19           19           13              9           32
Teradyne North Reading Dec              81         165         217         344         375       (134)       (395)
Hospitality Properties Trust Newton Dec           197         133         152         190           21         193         124
Senior Housing Properties Trust Newton Dec           156         146         132         151         116         110         107
LPL Financial Holdings Boston Dec           178         182         152         170         (57)           48           45
Cognex Natick Dec           121           74           68           70           61           (5)           30
Alere Waltham Dec         (176)         (56)         (45)         268         (41)           32         (21)
Houghton Mifflin Harcourt Boston Dec         (111)       (111)       (236)   (2,182)       (820)   (2,145)   (1,462)
Aspen Technology Burlington Jun              86           45         (14)           10       (107)           53           25
PAREXEL Intl Waltham Jun           129           96           63           49           42           39           65
Dyax Burlington Dec           (12)         (28)         (29)         (35)         (25)         (62)         (66)
Bright Horizons Family Solutions Watertown Dec              72           12              9              5         (10)         (10)           (7)
Charles River Laboratories Wilmington Dec           130         105         102         116       (334)         111       (528)
Bruker Billerica Dec              60           82           78           94           97           81           65
Boston Beer Boston Dec              91           70           59           66           50           31              8
Clean Harbors Norwell  Dec           (28)           96         130         131           37           35           57
The Hanover Insurance Group Worcester Dec           282         246           46           32         153         188           85
Wayfair Boston Dec         (148)         (16)         (21)         (11)


Endurance Intl Group Hldgs Burlington Dec           (51)       (160)       (139)         (78)         (44)

Cabot Corp Boston Sep           216         161         202         205         143         (73)           86
ABIOMED Danvers Mar 15           114              7           15              1         (12)         (19)         (32)
Celldex Therapeutics Needham Dec         (118)         (82)         (59)         (45)           (3)         (37)         (48)
Demandware Burlington Dec           (27)         (18)           (4)           (1)              0         (10)         (25)
TESARO Waltham Dec         (171)         (92)         (62)         (16)           (9)

UniFirst Wilmington Aug           120         117           95           76           76           76           61
Haemonetics Braintree Mar              17           35           39           67           80           58           59
AMAG Pharmaceuticals Lexington Dec           136         (10)         (17)         (77)         (81)         (93)         (72)
M/A-COM Technology Solutions Lowell Sep           (11)           18           (4)           (2)              7              4           (6)
MKS Instruments Andover Dec           116           36           48         130         133       (149)           40
Select Income REIT Newton Dec           106           93           66           69           61           58           52
Sage Therapeutics Cambridge Dec           (34)         (18)         (10)
           
Entegris Billerica Dec                8           75           69         124           85         (58)       (516)
Ironwood Pharmaceutical Cambridge Dec         (190)       (273)         (73)         (65)         (56)         (60)         (47)
Watts Water Technologies North Hanover Dec              50           61           70           65           63           41           45
Radius Health Cambridge Dec           (62)         (61)         (69)         (42)         (15)         (15)         (22)
Insulet Bedford Dec           (52)         (45)         (52)         (57)         (61)         (72)         (95)
Pegasystems Cambridge Dec              33           38           22           10           (6)           32           11
Ariad Pharmaceuticals Cambridge Dec         (163)       (274)       (221)       (124)           85         (80)         (71)
HubSpot Cambridge Dec           (48)         (34)         (19)         (24)         (13)           (9)
LogMein Woburn Dec                8           (7)              4              6           21              9           (5)
NetScout Systems Westford Mar 15              61           49           41           32           37           28           20
Tetraphase Pharmaceuticals Watertown Dec           (67)         (30)         (15)         (22)         (17)

Press Ganey Holdings Wakefield Dec              16              0           (7)



Momenta Pharmaceuticals Cambridge Dec           (99)       (108)         (59)         180           37         (64)         (63)
Virtusa Westborough Mar 15              42           34           28           20           16           12           12
STAG Industrial Boston Dec              (5)              0           (8)         (10)           (3)           (6)           (8)
Progress Software Bedford Nov              49           40           45           59           49           33           46
CYS Investments Waltham Dec           426       (476)         373         292           22           64         (39)
Government Properties Income Trust Newton Dec              53           56           49           46           28           26           32
ZIOPHARM Oncology Boston Dec           (32)         (57)         (96)         (64)         (33)           (8)         (25)
Merrimack Pharmaceuticals Cambridge Dec           (84)       (131)         (91)         (80)         (50)         (49)         (46)
Global partners LP Waltham Dec           117           41           47           19           27           34           21
ImmunoGen Waltham Jun           (71)         (73)         (73)         (58)         (51)         (32)         (32)
Repligen Waltham Dec                8           16           14           (0)           (4)              6           37
Independent Bank Rockland Dec              60           50           43           45           40           23           24
Foundation Medicine Cambridge Dec           (52)         (43)         (22)         (17)


Franklin Street Properties Wakefield Dec              13           17           23           18           17           27           32
Sarepta Therapeutics Cambridge Dec         (136)       (112)       (121)           (2)         (32)         (25)         (24)
Boston Private Financial Boston Dec              67           67           49           36         (12)           16       (193)
Atlantic Tele-Network Beverly Dec              58           37           53           22           38           37           40
Acceleron Pharmaceutical Cambridge Dec           (51)         (22)         (33)           36


Analogic Corp Peabody July              34           31           43           17           16              4           23
Karyopharm Therapeutics Natick Dec           (76)         (34)         (16)         (10)


Medical Information Technology Westwood Dec           124         133         131         124         109           82           36










Total all 84 With Market Cap Between $1 bil and $20 bil        5,128     3,205     3,635     3,881     3,057   (1,520)   (1,230)










Three Years Total Earnings








….. 2012-2014

    11,968





….. 2008-2010

          307





………. 3 Year Earnings Increase








…………… Amount

    11,661





…………… %

3,795%






On the job front, the US Bureau of Labor reported that the unemployment rate for the State of Massachusetts has dropped sharply from 8.8% in January 2010 to 4.7% in the most recently reported April 2015.

Also, the US Bureau of Labor reported that the unemployment rate for the Boston-Cambridge-Nashua Metro Area has dropped even more sharply from 8.6% in January 2010 to only 3.8% in the most recently reported April 2015.


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