Sunday, March 1, 2020

Smaller Massachusetts Companies Total Pretax Income Declined By 44% in the December 2019 Quarter and By 42% in the Nine Months Ended December 2019

There are 55 Massachusetts Companies with stock market caps between $2 bil and $10 bil very recently.  Two of them haven't released their December 2019 quarter earnings yet.  

From a review of SEC filings, below are the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the remaining 53 Massachusetts Companies in each of the most recent three quarters of both 2019 and 2018.
US US US US US US
GAAP GAAP GAAP GAAP GAAP GAAP
Pretax Pretax Pretax Pretax Pretax Pretax
Income Income Income Income Income Income
(Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
Dec Dec Sept Sept June June
Massachusetts Smaller Companies Massachusetts Quarter Quarter Quarter Quarter Quarter Quarter
Market Caps Between $2 Bil and $10 Bil City HQs 2019 2018 2019 2018 2018 2017
mils $ mils $ mils $ mils $ mils $ mils $
LPL Financial Holdings Boston          165          162          178          147          195          163
Eaton Vance Boston          151          140          143          142          147          127
Hanover Insurance Group Worchester          133              1          130          123          110          100
Charles River Labs Wilmington          106            75            73            73            59            70
Abiomed Danvers            97            65            17            52          103            48
Cimpress NV Waltham            97            83            26          (10)            43            (6)
Sensata Technologies plc Attleboro            81          119            99          174          104          129
Dunkin Brands Group Canton            76            66            92            81            80            83
BJ's Wholesale Club Westborough            73            57            72          (21)            43            19
Entegris Billerica            71            60            42            59          167            64
PerkinElmer Waltham            65            79            63            78            72            72
UniFirst Wilmington            62            52            61            43            62            48
Independent Bank Corp Rockland            62            38            69            43            41            40
Bright Horizons Family Solutions Watertown            57            52            52            44            63            52
MKS Instruments Andover            55            91            55          115            52          149
Iron Mountain Boston            54          161          130            91          103          118
Cabot Boston            50            70            67          101            69            95
Aspen Technology Bedford            46            69            53            42          117            84
Watts Water Technologies North Andover            44            42            46            44            50            50
Haemonetics Braintree            38            25            45            23          (18)              3
Clean Harbors Norwell            35            17            54            42            52            44
CRISPR Therapeutics AG Cambridge            31          (47)          139          (51)          (54)          (38)
Cognex Natick            23            49            47            81            57            67
Mercury Systems Andover            21            17            17            11            13            17
TripAdvisor Needham            20            22            73            87            68            42
PTC Inc Needham            19            20            34              1            (0)            10
Nuance Communications Burlington            18            16            12          (39)            17          (11)
Boston Beer Boston            18            29            59            47            38            31
Stag Industrial Boston            18            47            11              9            14            15
LogMein Boston            18              1              5            15            (6)              6
CarGurus Cambridge            15              8            11              6              4              5
Novanta Bedford            10            14            11            19            13            15
Brooks Automation Chelmsford            10              0              5              1              7              5
Acacia Communications Maynard              9            14            12            10            (5)          (11)
Repligen Waltham              4              7              2              7            10              3
IPG Photonics Oxford              3          101            77          128            96          164
Mimecast Ltd Lexington              1              1            (1)            (1)            (4)            (3)
Pegasystems Cambridge            (0)            18          (47)          (16)          (50)          (21)
Alkermes Waltham            (3)            (2)          (54)          (34)          (40)          (24)
Hub Spot Cambridge            (9)          (11)          (15)          (19)          (17)          (18)
Everbridge Burlington          (13)            (9)          (13)            (8)          (12)          (17)
Service Properties Trust Newton          (13)        (109)            40          117              8            98
Rapid7 Boston          (14)          (13)          (14)          (12)          (14)          (14)
Acceleron Pharma Cambridge          (24)          (35)          (45)          (29)          (18)          (29)
Ra Pharmaceuticals Cambridge          (37)          (16)          (25)          (17)          (22)          (16)
Blueprint Medicines Cambridge          (66)          (80)          (94)          (73)        (100)          (27)
Momenta Pharmaceutics Cambridge          (87)            (8)          (45)          (50)        (114)          (70)
Agios Pharmaceuticals Cambridge        (102)          (92)        (106)          (95)        (109)          (69)
Moderna Cambridge        (124)        (141)        (123)          (80)        (135)          (90)
Sage Therapeutics Cambridge        (169)        (158)        (180)        (123)        (168)          (17)
bluebird bio Cambridge        (223)        (149)        (206)        (145)        (196)        (146)
Sarepta Therapeutics Cambridge        (235)        (142)        (126)          (77)        (276)        (109)
Wayfair Boston        (329)        (143)        (272)        (151)        (181)        (100)
Total all 53 Smaller Massachusetts Cos          408          733          756       1,005          538       1,200
... % Change vs Prior Year Quarter -44% -25% -55%
       
Total Pretax Income
….. Nine Months Ended December 2019       1,701
….. Nine Months Ended December 2018       2,938
………. % Decline -42%

Such horrible pretax earnings in the last three quarters of 2019, coupled with the huge CoronaVirus Losses which will start hitting the books in 2020, signals future very unhealthy pay raises for the many already underpaid Massachusetts non-executive employees.

Massachusetts Company non-executive workers really have had the deck stacked against them for decades versus what is going on with the sky-high annual percentage pay and employee benefit raises of their Companies' Top-Tier Executives.

So which 2020 Democratic Presidential candidate could best help close this massive annual percentage pay raise gap between Massachusetts Company Top-Tier executives and their already massively underpaid, hardworking Massachusetts non-executive employees?

More than anything needed to solve this thorny problem is to possess exceptionally strong financial and data science skills, coupled with a keen understanding of how businesses operate.  And you also must have a high degree of  economic fairness. 

Joe Biden, Bernie Sanders, Elizabeth Warren and Amy Klobuchar all have little if any financial acumen, no data science understanding and little if any understanding of how businesses operate in this fast-changing world.

Further, all four of them worked for the US Government, particularly in the past ten years, when these comparative pay raise results of Top-Tier Executives and non-executive employees were so horrendous, not just in Massachusetts but also in every other US State.  

On the positive side, all four of them have a high degree of economic fairness.

Michael Bloomberg has both the financial acumen and the understanding of how businesses operate.  

But he has no data science expertise. 

Also and most important of all, Bloomberg has a low degree of economic fairness.  

In the many years he was accumulating his wealth of $60+ bil, US income inequality expanded dramatically in each year by leaps and bounds.  

So, like many US business tycoons with their sole fixation on maximization of Company profits, Bloomberg accumulated his massive wealth on the backs of the declining US middle class and growing number of people dropped to the lower economic class.  

And while he was accumulating his massive amount of wealth, Bloomberg was strongly anti-union.

And by his punitively racial "Stop and Frisk" policy, many New York City people of color were singled out and physically thrown against the wall.

So, if you want huge, continuing pay raise income inequality expansion like we have had in the past 40+ years, then Michael Bloomberg is your man.

And if you want huge, continuing pay raise income inequality expansion like we have had in the past 40+ years, then Joe Biden is also your man.

I think there is only one Democratic Presidential candidate who has the requisite financial acumen, data science skills, understanding of how business operate and economic fairness to help turn the tide around on this massive, continuing US income inequality expansion caused mainly by the massive gap in annual percentage pay raises between executive and non-executive employees  ..... Pete Buttigieg.
On another matter, the very recent Nevada election caucus counts seem very strange to me.

I suggest that it is mathematically impossible for Pete Buttigieg to get a 17.3% Final Vote, which is already after the voter redistribution for the 15% threshold effect, which miraculously dropped down by 17% to only 14.3% in the Nevada County Convention Delegate Vote without some unfair actions to have occurred.

It is even more mathematically impossible for Amy Klobuchar to get a 7.3% Final Vote which dropped down by an amazing 42% to only 4.3% in the Nevada County Convention Delegate Vote without some unfair actions to have occurred.

So, Joe Biden got a Not First Vote but Final Vote of 18.9% in Nevada just edging out Pete Buttigieg's Not First Vote but Final Vote of 17.3%.  But unlike Pete's 17% dramatic drop in the Nevada County Convention Delegate Vote, for some strange reason Biden's Nevada County Convention Vote increased by 7%.

End result, Biden got 9 delegates and Pete only got 3 delegates, even though Biden got a final vote  of 18.9% and barely edged Pete's final vote of 17.3%.  

What you have here is massive vote count corruption in the Nevada Democratic establishment in favor of Democratic establishment candidate Joe Biden.  And the Democratic establishment is asserting that Russia is subverting the US election when it's a drop in the bucket as compared to how the US State Democratic establishments including Nevada are corrupting the vote count?

And all of the Nevada election workers have to sign Non Disclosure Agreements to work there.  I now understand why.

This is why many people have so little trust in the Democratic Party establishment and now realize that the deck is stacked against any Democratic Presidential candidate other than Joe Biden and thus it only makes sense that some of them will probably react by not voting for Democratic establishment candidate Joe Biden in the Super Tuesday US States.

And for someone to loudly assert many times during the South Carolina primary, where 67% of the voters are black, that he was arrested for Nelson Mandela like Joe Biden did when he actually didn't get arrested for Nelson Mandela, it reveals that Joe Biden is either an opportunistic liar or senile and either way, he has no business being US President.


Posted by at