........................................................................................ Consistent With the Horrible 2018 Quarter Earnings of Health Care Companies in California and in New Jersey, Massachusetts' 37 Largest Health Care Companies Generated Total Pretax Income in the 2018 Quarter of $1.072 Bil, Which was a Decline of a Disastrous 53% From the $2.276 Bil Comparable Total PTI in the 2017 Quarter ........................................................................................
But on the Positive Side, Massachusetts' 77 Largest Non-Health Care Companies Generated Total Pretax Income in the 2018 Quarter of $6.027 Bil, Up 28% From the Comparable Total PTI in the 2017 Quarter. But It Should Be Pointed Out That There Were Some Earnings Quality Problems With at Least a Few of These 77 Companies
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From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations, the US GAAP Net Income (Loss) From Continuing Operations and the related US GAAP Income Tax Expense for the March, April or May 2018 and 2017 Quarters for all US Companies including both Partnerships and REITs which are Headquartered in the US State of Massachusetts with March, April or May 2018 Quarter Ends, with stock market caps of at least $1 Bil recently and which have released their March, April or May 2018 Quarter Earnings by July 5, 2018.
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From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations, the US GAAP Net Income (Loss) From Continuing Operations and the related US GAAP Income Tax Expense for the March, April or May 2018 and 2017 Quarters for all US Companies including both Partnerships and REITs which are Headquartered in the US State of Massachusetts with March, April or May 2018 Quarter Ends, with stock market caps of at least $1 Bil recently and which have released their March, April or May 2018 Quarter Earnings by July 5, 2018.
| US GAAP | US GAAP | ||||||||||||
| Pretax | Net | ||||||||||||
| US GAAP | US GAAP | Income | Income | ||||||||||
| US GAAP | US GAAP | US GAAP | US GAAP | US GAAP | US GAAP | Effective | Effective | Better | Better | ||||
| Pretax | Income | Net | Pretax | Income | Net | Income | Income | (Worse) | (Worse) | ||||
| Income | Tax | Income | Income | Tax | Income | Tax | Tax | % Change | % Change | ||||
| Massachusetts Company | (Loss) | Expense | (Loss) | (Loss) | Expense | (Loss) | Rate | Rate | March, | March, | |||
| Market Caps of $1 Bil + | March, | March, | March, | March, | March, | March, | March, | March, | April or | April or | |||
| Releasing March, April or | April or | April or | April or | April or | April or | April or | April or | April or | May Qtr | May Qtr | |||
| May 2018 Quarter | May Qtr | May Qtr | May Qtr | May Qtr | May Qtr | May Qtr | May Qtr | May Qtr | 2018 | 2018 | |||
| Earnings By July 5, 2018 | 2018 | 2018 | 2018 | 2017 | 2017 | 2017 | 2018 | 2017 | vs 2017 | vs 2017 | |||
| mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | ||||||||
| Health Care Cos | |||||||||||||
| Biogen | 1,494 | 323 | 1,171 | 987 | 239 | 748 | 21.6% | 24.2% | 51% | 57% | |||
| Thermo Fisher Scientific | 634 | 55 | 579 | 503 | (48) | 551 | 8.7% | -9.5% | 26% | 5% | |||
| Boston Scientific | 323 | 26 | 297 | 305 | 15 | 290 | 8.0% | 4.9% | 6% | 2% | |||
| Vertex Pharmaceutical | 215 | (13) | 228 | 254 | 4 | 250 | -6.0% | 1.6% | -15% | -9% | |||
| Waters Corp | 141 | 29 | 112 | 113 | 8 | 105 | 20.6% | 7.1% | 25% | 7% | |||
| Charles River Labs | 63 | 10 | 53 | 78 | 31 | 47 | 15.9% | 39.7% | -19% | 13% | |||
| Abiomed | 49 | 12 | 37 | 29 | 14 | 15 | 24.5% | 48.3% | 69% | 147% | |||
| athenahealth | 39 | 8 | 31 | - | 1 | (1) | 20.5% | NM | NM | 3200% | |||
| Bruker | 36 | 9 | 27 | 32 | 10 | 22 | 25.0% | 31.3% | 13% | 23% | |||
| Enanta Pharmaceuticals | 18 | 5 | 13 | (9) | (4) | (5) | 27.8% | 44.4% | 300% | 360% | |||
| Haemonetics | 13 | 1 | 12 | (59) | (8) | (51) | 7.7% | 13.6% | 122% | 124% | |||
| Repligen | 4 | 1 | 3 | 4 | 1 | 3 | 25.0% | 25.0% | 0% | 0% | |||
| NxStage Medical | (2) | - | (2) | (2) | - | (2) | 0.0% | 0.0% | 0% | 0% | |||
| Insulet | (6) | - | (6) | (10) | - | (10) | 0.0% | 0.0% | 40% | 40% | |||
| Intellia Therapeutics | (21) | - | (21) | (13) | - | (13) | 0.0% | 0.0% | -62% | -62% | |||
| Acceleron Pharma | (26) | - | (26) | (25) | - | (25) | 0.0% | 0.0% | -4% | -4% | |||
| CRISPR Therapeutics AG | (28) | - | (28) | (21) | - | (21) | 0.0% | 0.0% | -33% | -33% | |||
| Akcea Therapeutics | (30) | - | (30) | (64) | - | (64) | 0.0% | 0.0% | 53% | 53% | |||
| Editas Medicine | (31) | - | (31) | (31) | - | (31) | 0.0% | 0.0% | 0% | 0% | |||
| Epizyme | (34) | - | (34) | (33) | - | (33) | 0.0% | 0.0% | -3% | -3% | |||
| Wave Life Sciences Ltd | (35) | - | (35) | (20) | 1 | (21) | 0.0% | -5.0% | -75% | -67% | |||
| Sarepta Therapeutics | (35) | - | (35) | 86 | 2 | 84 | 0.0% | 2.3% | -141% | -142% | |||
| Foundation Medicine | (37) | - | (37) | (46) | - | (46) | 0.0% | 0.0% | 20% | 20% | |||
| Karyopharma Therapeutics | (38) | - | (38) | (30) | - | (30) | 0.0% | 0.0% | -27% | -27% | |||
| Immunogen | (39) | - | (39) | (17) | - | (17) | 0.0% | 0.0% | -129% | -129% | |||
| Flexion Therapeutics | (42) | - | (42) | (24) | - | (24) | 0.0% | 0.0% | -75% | -75% | |||
| Ironwood Pharmaceuticals | (43) | - | (43) | (53) | - | (53) | 0.0% | 0.0% | 19% | 19% | |||
| Momenta Pharmaceutics | (48) | - | (48) | (32) | - | (32) | 0.0% | 0.0% | -50% | -50% | |||
| Blueprint Medicines | (57) | - | (57) | (28) | - | (28) | 0.0% | 0.0% | -104% | -104% | |||
| Radius Health | (62) | (62) | (57) | (57) | 0.0% | 0.0% | -9% | -9% | |||||
| Alkermes | (67) | (4) | (63) | (73) | (4) | (69) | 6.0% | 5.5% | -8% | -9% | |||
| Sage Therapeutics | (75) | - | (75) | (57) | - | (57) | 0.0% | 0.0% | -32% | -32% | |||
| Agios Pharmaceuticals | (91) | - | (91) | (66) | - | (66) | 0.0% | 0.0% | -38% | -38% | |||
| bluebird bio | (115) | - | (115) | (69) | - | (69) | 0.0% | 0.0% | -67% | -67% | |||
| Alnylam Pharmaceuticals | (141) | - | (141) | (107) | - | (107) | 0.0% | 0.0% | -32% | -32% | |||
| Tesaro | (163) | - | (163) | (137) | - | (137) | 0.0% | 0.0% | -19% | -19% | |||
| Hologic | (691) | (10) | (681) | 968 | 441 | 527 | 1.4% | 45.6% | -171% | -229% | |||
| Total all 37 Health Care Cos | 1,072 | 452 | 620 | 2,276 | 703 | 1,573 | 42.2% | 30.9% | -53% | -61% | |||
| Non-Health Care Cos | |||||||||||||
| TJX Cos | 955 | 239 | 716 | 832 | 296 | 536 | 25.0% | 35.6% | 15% | 34% | |||
| State Street Corp | 763 | 102 | 661 | 584 | 82 | 502 | 13.4% | 14.0% | 31% | 32% | |||
| Raytheon | 757 | 133 | 624 | 695 | 198 | 497 | 17.6% | 28.5% | 9% | 26% | |||
| General Electric | 413 | (27) | 440 | (53) | (105) | 52 | -6.5% | 198.1% | 879% | 746% | |||
| Analog Devices | 402 | 22 | 380 | 87 | (7) | 94 | 5.5% | -8.0% | 362% | 304% | |||
| Eversource Energy | 355 | 84 | 271 | 419 | 158 | 261 | 23.7% | 37.7% | -15% | 4% | |||
| Skyworks Solutions | 292 | 16 | 276 | 281 | 56 | 225 | 5.5% | 19.9% | 4% | 23% | |||
| American Tower | 249 | (31) | 280 | 334 | 27 | 307 | -12.4% | 8.1% | -25% | -9% | |||
| Senior Housing Properties Trust | 237 | - | 237 | 32 | - | 32 | 0.0% | 0.0% | 641% | 641% | |||
| Boston Properties | 216 | - | 216 | 132 | - | 132 | 0.0% | 0.0% | 64% | 64% | |||
| IPG Photonics | 142 | 36 | 106 | 101 | 26 | 75 | 25.4% | 25.7% | 41% | 41% | |||
| Eaton Vance | 130 | 34 | 96 | 137 | 49 | 88 | 26.2% | 35.8% | -5% | 9% | |||
| MKS Instruments | 127 | 22 | 105 | 77 | 12 | 65 | 17.3% | 15.6% | 65% | 62% | |||
| LPL Financial Holdings | 120 | 26 | 94 | 75 | 27 | 48 | 21.7% | 36.0% | 60% | 96% | |||
| Sensata Technologies plc | 105 | 14 | 91 | 86 | 14 | 72 | 13.3% | 16.3% | 22% | 26% | |||
| Teradyne | 96 | 9 | 87 | 92 | 7 | 85 | 9.4% | 7.6% | 4% | 2% | |||
| BrightSphere Invest Group plc | 84 | 29 | 55 | 28 | 6 | 22 | 34.5% | 21.4% | 200% | 150% | |||
| Hanover Insurance Group | 81 | 13 | 68 | 59 | 14 | 45 | 16.0% | 23.7% | 37% | 51% | |||
| Hospitality Properties Trust | 80 | - | 80 | 37 | - | 37 | 0.0% | 0.0% | 116% | 116% | |||
| Entegris | 71 | 13 | 58 | 42 | 9 | 33 | 18.3% | 21.4% | 69% | 76% | |||
| Akamai Technologies | 68 | 14 | 54 | 32 | 5 | 27 | 20.6% | 15.6% | 113% | 100% | |||
| Dunkin Brands Group | 59 | 9 | 50 | 62 | 18 | 44 | 15.3% | 29.0% | -5% | 14% | |||
| Acushnet Holdings | 58 | 15 | 43 | 62 | 22 | 40 | 25.9% | 35.5% | -6% | 8% | |||
| Aspen Technology | 50 | 12 | 38 | 51 | 15 | 36 | 24.0% | 29.4% | -2% | 6% | |||
| UniFirst | 48 | 11 | 37 | 39 | 15 | 24 | 22.9% | 38.5% | 23% | 54% | |||
| Iron Mountain | 47 | 1 | 46 | 68 | 9 | 59 | 2.1% | 13.2% | -31% | -22% | |||
| Bright Horizons Family Sol | 44 | 7 | 37 | 41 | - | 41 | 15.9% | 0.0% | 7% | -10% | |||
| LogMein | 43 | 13 | 30 | (34) | (16) | (18) | 30.2% | 47.1% | 226% | 267% | |||
| Watts Water Technologies | 39 | 11 | 28 | 31 | 9 | 22 | 28.2% | 29.0% | 26% | 27% | |||
| Select Income REIT | 38 | - | 38 | 7 | - | 7 | 0.0% | 0.0% | 443% | 443% | |||
| Cognex | 38 | 1 | 37 | 39 | (6) | 45 | 2.6% | -15.4% | -3% | -18% | |||
| Independent Bank Corp | 34 | 7 | 27 | 30 | 9 | 21 | 20.6% | 30.0% | 13% | 29% | |||
| Berkshire Hills Bancorp | 32 | 7 | 25 | 22 | 7 | 15 | 21.9% | 31.8% | 45% | 67% | |||
| Boston Private Financial Hldgs | 28 | 6 | 22 | 22 | 7 | 15 | 21.4% | 31.8% | 27% | 47% | |||
| PerkinElmer | 28 | 2 | 26 | 40 | 4 | 36 | 7.1% | 10.0% | -30% | -28% | |||
| iRobot Corp | 26 | 6 | 20 | 21 | 5 | 16 | 23.1% | 23.8% | 24% | 25% | |||
| Brookline Bancorp | 25 | 6 | 19 | 22 | 8 | 14 | 24.0% | 36.4% | 14% | 36% | |||
| Stag Industrial | 25 | - | 25 | - | - | - | 0.0% | NM | NM | NM | |||
| RMR Group | 23 | 4 | 19 | 22 | 4 | 18 | 17.4% | 18.2% | 5% | 6% | |||
| Brooks Automation | 23 | (44) | 67 | 17 | 3 | 14 | -191.3% | 17.6% | 35% | 379% | |||
| TripAdvisor | 21 | 16 | 5 | 25 | 12 | 13 | 76.2% | 48.0% | -16% | -62% | |||
| Casa Systems | 20 | 2 | 18 | 19 | 1 | 18 | 10.0% | 5.3% | 5% | 0% | |||
| Progress Software | 20 | 5 | 15 | 19 | 8 | 11 | 25.0% | 42.1% | 5% | 36% | |||
| Industrial Logistics Proprties Trst | 19 | - | 19 | 20 | - | 20 | 0.0% | 0.0% | -5% | -5% | |||
| BJ's Wholesale Club | 19 | 5 | 14 | (92) | (33) | (59) | 26.3% | 35.9% | 121% | 124% | |||
| Rudolf Technologies | 18 | 3 | 15 | 9 | 2 | 7 | 16.7% | 22.2% | 100% | 114% | |||
| Meridian Bancorp | 15 | 3 | 12 | 14 | 5 | 9 | 20.0% | 35.7% | 7% | 33% | |||
| Kadant | 15 | 4 | 11 | 12 | 3 | 9 | 26.7% | 25.0% | 25% | 22% | |||
| Novanta | 15 | 2 | 13 | 35 | 1 | 34 | 13.3% | 2.9% | -57% | -62% | |||
| Altra Industrial Motion | 13 | 4 | 9 | 15 | 4 | 11 | 30.8% | 26.7% | -13% | -18% | |||
| PTC Inc | 12 | 4 | 8 | (1) | - | (1) | 33.3% | 0.0% | 1300% | 900% | |||
| Safety Insurance Group | 11 | 2 | 9 | 17 | 5 | 12 | 18.2% | 29.4% | -35% | -25% | |||
| Virtusa Corp | 11 | 6 | 5 | 16 | 4 | 12 | 54.5% | 25.0% | -31% | -58% | |||
| Boston Beer | 9 | - | 9 | 4 | (2) | 6 | 0.0% | -50.0% | 125% | 50% | |||
| Analogic | 8 | 1 | 7 | (65) | (5) | (60) | 12.5% | 7.7% | 112% | 112% | |||
| Pegasystems | 8 | (4) | 12 | 67 | 14 | 53 | -50.0% | 20.9% | -88% | -77% | |||
| Government Properties Inc Trust | 7 | - | 7 | 8 | - | 8 | 0.0% | 0.0% | -13% | -13% | |||
| Mercury Systems | 6 | 2 | 4 | 10 | 3 | 7 | 33.3% | 30.0% | -40% | -43% | |||
| Car Gurus | 4 | - | 4 | 7 | 3 | 4 | 0.0% | 42.9% | -43% | 0% | |||
| Vicor | 4 | - | 4 | (1) | - | (1) | 0.0% | 0.0% | 500% | 500% | |||
| Cimpress NV | 2 | 4 | (2) | (60) | (17) | (43) | 200.0% | 28.3% | 103% | 95% | |||
| GCP Applied Technologies | - | 14 | (14) | (13) | 12 | (25) | NM | -92.3% | 100% | 44% | |||
| Endurance Intl Group Hldgs | (4) | 3 | (7) | (26) | 6 | (32) | -75.0% | -23.1% | 85% | 78% | |||
| Carbonite | (5) | (17) | 12 | (7) | (14) | 7 | 340.0% | 200.0% | 29% | 71% | |||
| Mimecast Ltd | (7) | 1 | (8) | (2) | 1 | (3) | -14.3% | -50.0% | -250% | -167% | |||
| Clean Harbors | (10) | 3 | (13) | (18) | 3 | (21) | -30.0% | -16.7% | 44% | 38% | |||
| Everbridge | (12) | - | (12) | (6) | - | (6) | 0.0% | 0.0% | -100% | -100% | |||
| Net Scout Systems | (12) | (29) | 17 | 37 | 15 | 22 | 241.7% | 40.5% | -132% | -23% | |||
| Acacia Communications | (13) | (4) | (9) | 30 | (5) | 35 | 30.8% | -16.7% | -143% | -126% | |||
| Hub Spot | (15) | - | (15) | (8) | - | (8) | 0.0% | 0.0% | -88% | -88% | |||
| Rapid7 | (16) | - | (16) | (11) | (11) | 0.0% | 0.0% | -45% | -45% | ||||
| MACOM Tech Solutions | (18) | (3) | (15) | (44) | 90 | (134) | 16.7% | -204.5% | 59% | 89% | |||
| Carbon Black | (21) | - | (21) | (12) | - | (12) | 0.0% | 0.0% | -75% | -75% | |||
| Wayfair | (108) | - | (108) | (56) | - | (56) | 0.0% | 0.0% | -93% | -93% | |||
| CYS Investments | (109) | - | (109) | 34 | - | 34 | 0.0% | 0.0% | -421% | -421% | |||
| Nuance Communications | (161) | 3 | (164) | (25) | 9 | (34) | -1.9% | -36.0% | -544% | -382% | |||
| Cabot | (170) | (7) | (163) | 79 | (1) | 80 | 4.1% | -1.3% | -315% | -304% | |||
| Total 77 Non-Health Care Cos | 6,027 | 845 | 5,182 | 4,701 | 1,111 | 3,590 | 14.0% | 23.6% | 28% | 44% | |||
| Total 114 Massachusetts Cos | 7,099 | 1,297 | 5,802 | 6,977 | 1,814 | 5,163 | 18.3% | 26.0% | 1.7% | 12% |
