On the Positive Side, For a Longer-Term Perspective, San Diego Area Companies Exclusive of Utility Giant Sempra Energy Had Their Total Audited After-Tax Net Income Increase By 289% During the Obama Administration From His First Year in Office in 2009 to His Last Year in Office in 2016.
And the 26 San Diego Area Companies Other Than the Well-Run Tech Giant Qualcomm Posted a Total Earnings Increase of a Much Higher 518% Over the Same Period.
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From a review of US SEC filings, there were 29 Companies headquartered in the San Diego Area with a stock market cap of more than $1 Bil recently and which have already released their Second Quarter 2018 earnings.
Nearly all Republicans, a high percentage of
Independents and even many perceptive Democrats all agree as a starting point
that for US capitalism to work properly, Companies must generate in the
aggregate reasonably healthy profits.
This clearly didn’t even come close to happening with San Diego Cos in either the First Half of 2018 or in the Annual Fiscal Year 2017.
From a review of SEC filings, the chart below shows the Gold-Standard
US GAAP Pretax Income (Loss) From Continuing Operations for the Six Months
Ended 2018 and 2017 for these 29 San Diego Area Companies.
| US | US | ||
| GAAP | GAAP | ||
| Pretax | Pretax | ||
| Income | Income | ||
| (Loss) | (Loss) | ||
| California Companies | 6 Months | 6 Months | |
| San Diego Area | June | June | Better |
| Market Caps Above $1 Bil | July | July | (Worse) |
| Releasing August 2018 | or Aug | or Aug | % |
| Qtr Earnings By 10-15-18 | 2018 | 2017 | Change |
| mils $ | mils $ | ||
| QUALCOMM | 1,314 | 1,715 | -23% |
| Illumina | 453 | 644 | -30% |
| Resmed | 271 | 230 | 18% |
| Realty Income Corp | 180 | 170 | 6% |
| Callaway Golf | 158 | 87 | 82% |
| Ligand Pharmaceuticals | 151 | 14 | 979% |
| BofI Holding | 128 | 127 | 1% |
| Jack in the Box | 101 | 97 | 4% |
| AMN Healthcare Services | 98 | 98 | 0% |
| Encore Capital Group | 71 | 60 | 18% |
| ICU Medical | 34 | 7 | 386% |
| Quidel | 30 | 2 | 1400% |
| Retail Opportunity Invest Corp | 20 | 20 | 0% |
| Dexcom | 6 | (54) | |
| American Assets Trust | 3 | 18 | |
| Cubic | 3 | (19) | |
| Kratos Defense&Security | (2) | (14) | |
| Maxlinear | (3) | (8) | |
| Nuvasive | (21) | 32 | |
| AnaptysBio | (29) | (14) | |
| Retrophin | (40) | (28) | |
| Mirati Therapeutics | (43) | (36) | |
| Neurocrine Biosciences | (48) | (138) | |
| Halozyme Therapeutics | (50) | (63) | |
| Arena Pharmaceuticals | (63) | (47) | |
| Ionis Pharmaceuticals | (67) | 6 | |
| Viasat | (102) | (15) | |
| Acadia Pharmaceuticals | (116) | (155) | |
| Sempra Energy | (466) | 1,162 | |
| Total all 29 San Diego Area Cos | 1,971 | 3,897 | -49% |
Also from a review of SEC filings, the chart below shows the Gold-Standard US GAAP Audited After-Tax Net Income (Loss) From Continuing Operations for Annual 2016 and Annual 2009, spanning the Obama Administration, for the 27 San Diego Area Companies which reported both their Annual Fiscal Year Ended (FYE) 2016 and Annual FYE 2008 Pretax Income (Loss) to the SEC.
| Obama | Obama | |||||
| Last | First | |||||
| Year | Year | |||||
| in | in | |||||
| Office | Office | |||||
| 2016 | 2009 | |||||
| Audited | Audited | |||||
| After-Tax | After-Tax | Better | ||||
| Net | Net | (Worse) | ||||
| San Diego Area Companies | City | State | 2016 | Income | Income | % |
| Stock Market Caps Above $1 Bil | HQs | HQs | FYE | (Loss) | (Loss) | Change |
| $ mils | $ mils | |||||
| Qualcomm | San Diego | CA | Sep 16 | 5,702 | 1,592 | 258% |
| Illumina | San Diego | CA | Dec 16 | 428 | 72 | 494% |
| ResMed | San Diego | CA | Jun 17 | 342 | 190 | 80% |
| Realty Income Corp | San Diego | CA | Dec 16 | 316 | 123 | 157% |
| Callaway Golf Co | Carlsbad | CA | Dec 16 | 191 | (15) | 1373% |
| BofI Holding | San Diego | CA | Jun 17 | 135 | 21 | 543% |
| Jack in the Box | San Diego | CA | Sep 16 | 126 | 131 | -4% |
| AMN Healthcare Services | San Diego | CA | Dec 16 | 106 | (122) | 187% |
| PriceSmart | San Diego | CA | Aug 16 | 89 | 43 | 107% |
| ICU Medical | San Clemente | CA | Dec 16 | 63 | 27 | 133% |
| MaxLinear Inc | Carlsbad | CA | Dec 16 | 61 | 4 | 1425% |
| WD-40 Company | San Diego | CA | Aug 16 | 53 | 26 | 104% |
| American Assets Trust | San Diego | CA | Dec 16 | 46 | 5 | 820% |
| Retail Opportunity Investments Corp | San Diego | CA | Dec 16 | 36 | (9) | 500% |
| NuVasive Inc | San Diego | CA | Dec 16 | 35 | 4 | 775% |
| ViaSat Inc | Carlsbad | CA | Mar 17 | 22 | 31 | -29% |
| Encore Capital Group | San Diego | CA | Dec 16 | 19 | 33 | -42% |
| Cubic Corp | San Diego | CA | Sep 16 | 2 | 56 | -96% |
| Ligand Pharmaceuticals | San Diego | CA | Dec 16 | (2) | (8) | -75% |
| Quidel | San Diego | CA | Dec 16 | (14) | 33 | -142% |
| Arena Pharmaceuticals | San Diego | CA | Dec 16 | (23) | (153) | 85% |
| Kratos Defense & Security Solutions | San Diego | CA | Dec 16 | (60) | (38) | -58% |
| DexCom Inc | San Diego | CA | Dec 16 | (66) | (54) | -22% |
| Ionis Pharmaceuticals | Carlsbad | CA | Dec 16 | (87) | (35) | -149% |
| Halozyme Therapeutics | San Diego | CA | Dec 16 | (103) | (58) | -78% |
| Neurocrine Biosciences | San Diego | CA | Dec 16 | (141) | (51) | -176% |
| ACADIA Pharmaceuticals | San Diego | CA | Dec 16 | (271) | (45) | -502% |
| Total 26 San Diego Area Cos (No Qualcomm) | 1,303 | 211 | 518% | |||
| Total all 27 San Diego Area Cos | 7,005 | 1,803 | 289% |
