Monday, July 6, 2015

Israeli Companies, Led by Teva, Total 2014 Audited Earnings On Fire, Up 47% Over 2013 ..... the Obama Admin, the US Fed, the US Congress and all Americans Have To Be Pleased

From a very thorough review of SEC filings and the Google Finance Website, I found a huge number of 53 Companies headquartered in the highly entrepreneurial, creative, research-intensive State of Israel with Stock Market Capitalizations now of at least US$100 mil, which filed 2014 financial statements and which also filed with the US SEC all of their financial statements in US Dollars.

These 53 Israeli Companies are predominately Drug, Medical Technology and US Silicon Valley-Type High Technology Companies.

These 53 Israeli Companies generated Total Audited Earnings From Continuing Operations of $5.092 bil in 2014, which was up a very impressive 47% from the $3.463 bil earned in 2013.

Also, there were 6 additional Israeli Companies not filing with the US SEC which have Market Caps of at least NIS 2 Bil and which reported their operating results in US$s.

To illustrate the incredible resiliency of these 59 Combined Israeli Companies reporting in US$s, their Total Earnings in the Worldwide Financial Meltdown Year of 2008 were 21% above that of 2007.  In all other countries of the world I have studied, Total Country Company Earnings in 2008 were substantially below that of 2007.

Below here are the reported US GAAP or IFRS Audited Net Income (Losses) of each of  these 59 Israeli Companies for all of their fiscal years reported from 2007 through 2014, presented by Market Cap:



2014 2013 2012 2011 2010 2009 2008 2007


Most Audited Audited Audited Audited Audited Audited Audited Audited


Recent Net Net Net Net Net Net Net Net

City 2014 Income Income Income Income Income Income Income Income
HQs FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)

mil $s mil $s mil $s mil $s mil $s mil $s mil $s mil $s
Israeli Companies Filing With US SEC in US$s








Teva Pharmaceutical Industries Ltd Petach Tikva Dec     3,042     1,253     1,910     2,768     3,339     2,004           615     1,915
Check Point Software Technologies Ltd Tel Aviv Dec         660         653         620         544         453         358           324         281
Mobileye NV Jerusalem Dec         (30)           20           (0)         (13)



Israel Chemicals Ltd Tel Aviv Dec         466         820     1,302     1,501     1,029         774        1,994         550
Taro Pharmaceutical Industries Ltd Haifa Bay Mar 15         486         361         268         184           68         132              46           42
Nice-Systems Ltd Ra'anana Dec         103           55           68           57           49           43              39           37
Elbit Systems Ltd Haifa Dec         179         191         170         106         194         229           267           90
Caestarstone Sdot-Yam Ltd MP Menashe Dec           80           64           40           29           29              7                8           12
Cyberark Software Ltd Pitach-Tikva Dec           10              7              8              6



Solaredge Technologies Inc Herziliya Pituach Jun         (21)         (28)         (28)         (28)         (18)


Tower Semiconductor Ltd Migdal Haemek Dec           (1)       (108)         (70)         (19)         (42)       (120)         (105)       (134)
Radware Ltd Tel Aviv Dec           25           18           32           21           10           (6)           (31)         (12)
Allot Communications Ltd Hod-Hasharon Dec           (2)           (6)           (7)              9           (6)           (8)           (16)         (10)
Wix.com Ltd Tel Aviv Dec         (57)         (29)         (15)         (23)         (11)


Orbotech Ltd Yavne Dec           35           39         (47)           46           43         (16)           (98)           15
Silicom Ltd Kfar-Sava Dec           15           17           10              8              6              3                5              6
Protalix BioTherapeutics Inc Carmiel Dec         (30)         (28)         (12)         (37)         (29)         (31)           (22)         (32)
Ituran Location and Control Ltd Azoor Dec           33           26           26           22           10           19              16           52
Lumenis Ltd Yokneam Dec           13           17              7              1              6              3           (44)         (28)
Sapiens Intl Holon Dec           15           12           12              6              6              4              (0)           (2)
Ezchip Semiconductor Ltd Yokneam Dec              9           22           16              8           14           17              (5)           (4)
Sodastream International Ltd Ben Gurion Airport Dec           12           42           44           27           13              9                1           (2)
Clicksoftware Technologies Ltd Petach Tikva Dec           (3)           (4)              7           12              9           13                8              3
Kornit Digital Ltd Rosh-Ha'Ayin Dec              3              1              2




Formula Systems (1985) Ltd Or Yehuda Dec           95         106           46           62           33           28              22           20
Syneron Medical Ltd Yokneam Dec           (5)              2           (2)         (52)         (27)         (25)                6           31
Compugen Tel Aviv Dec         (11)         (14)         (14)         (12)           (7)           (4)           (13)         (11)
Nova Measuring Instruments Ltd Rehovot Dec           19           11           12           28           22              3              (5)           (4)
Foamix Pharmaceuticals Ltd Rehovot Dec           11              2              2




Magic Software Enterprises Ltd Or Yehuda Dec           17           17           16           15              9              6                5              1
Mazor Robotics Ltd Caesarea Industrial Park South Dec         (15)         (21)           (7)           (8)           (6)           (4)              (6)
Neuroderm Ltd Rehovot Dec         (30)         (87)           (5)




Gilat Satellite Networks Ltd Petach Tikva Dec           (1)         (18)         (23)           (6)           31              2              (1)           10
Macrocure Ltd Petach Tikva Dec         (25)         (18)           (8)




Evogene Ltd Rehovot Dec         (15)           (9)           (3)              1           (7)


Attunity Ltd Kfar Saba Dec           (2)           (1)              1           (1)           (2)           (1)              (4)           (7)
Supercom Ltd Hertzliya Dec              6              6              5              1           (2)           (3)              (6)           (9)
Enzymotec Ltd Migdal Ha'Emeq Dec              8           11              5           (1)           (2)


Pluristem Therapeutics Inc Haifa Jun         (27)         (21)         (15)         (11)           (7)           (7)           (10)           (8)
Perion Network Ltd Holon Dec           43           62         315         301



RedHill Biopharma Ltd Tel Aviv Dec         (11)         (11)         (10)         (16)           (3)           (0)

Mediwound Ltd Yavne Dec         (19)           (9)           12           (5)



Audiocodes Ltd Airport City Lod Dec           (0)              4           (4)              7           12           (3)           (86)           (9)
Kamada Ltd Ness Ziona Dec         (13)              0              0           (4)         (14)


Elron Electron Industries Ltd Haifa Dec         101           17           16         (15)         111         (26)           (93)         (42)
Alcobra Ltd Tel Aviv Dec         (33)         (11)           (2)           (4)



magicJack VocalTec Ltd Netanya Dec              4           70           56           (1)           (2)         (23)           (52)         (14)
Rewalk Robotics Ltd Yokneam Ilit Dec         (22)         (12)           (7)




RR Media Ltd Airport City Lod Dec              5              7              8              4              9           12              13           11
Vascular Biogenics Ltd Or Yehuda Dec         (17)         (17)         (12)




Galmed Pharmaceuticals Ltd Tel Aviv Dec           (9)         (17)           (3)           (1)



Camtek Ltd Migdal Haemek Dec              3              0              0              5              3         (12)           (10)           (8)
Bio Blast Pharma Tel Aviv Dec           (7)           (1)           (0)



    











Total all 53

    5,092     3,463     4,742     5,522     5,323     3,377        2,762     2,740











Annual % Earnings Increase:









….. 2014 Over 2013

47%






….. 2008 Over 2007

1%

















Other Large Israeli Companies Reporting in USSs








Israel Corp Ltd Tel Aviv Dec         247         391         907         900         980         494        1,170         373
Avner Oil Exploration Limited Partnership Herzeliya Pituach Dec           66           50           10           68           50           38              48
Frutarom Industries Ltd Haifa Dec           88           64           52           42           44           33              37           24
Delek Drilling Herzeliya Pituach Dec           70           61           15           70           50           38              47
Oil Refineries Ltd Haifa Dec         (93)       (167)       (198)         (87)           73         347         (109)         142
Delta Galil Industries Tel Aviv Dec           47           43           57           28           21              8












Grand Total all 59

    5,517     3,905     5,585     6,543     6,541     4,335        3,955     3,279











Annual % Earnings Increase:









….. 2014 Over 2013

41%






….. 2008 Over 2007

21%







I have to complement the very high quality of the financial reporting of these Israeli Companies.  It is infinitely better than that of the US Headquartered Companies, so many of which have such very messy financial reporting.  Just sayin.