S&P 500 Stocks with Negative 3 FY Net Income
Source: http://feeds.feedburner.com/~r/qvmgroup/yrMF/~3/352588492/648Posted on Friday, August 1st, 2008 | In Market Commentary
There are 31 companies in the S&P 500 that had an average net income loss over the last three fiscal years.
Of those, 12 were profitable over the last 12 months, while 19 were not profitable.
Of the 19 companies that were unprofitable over the last 12 months, 4 (JDSU, UIS, THC and GM) had losses over the last 12 months and each of the last 3 fiscal years.
Of those 4 companies, 3 seem to be working their way out of the problem in terms of reported income, but 1 (GM) is severely worsening.
(income denominated in millions)
Securities listed in table image are: EK, CBS, NEM, JAVA, JNPR, IPG, WPI, CMS, CIEN, DYN, NYT, AMT, JDSU, UIS, THC, HRB, BSX, ERTS, SOV, MYL, ETFC, MTG, SGP, F, LSI, PHM, CTX, AMD, MBI, S, GM.
An Excel spreadsheet containing this data for all members of the S&P 500 is available upon email request.
Richard Shaw
QVM Group LLC
Post Script:
We received a request to clarify the meaning of FY1, FY2 and FY3; and a suggestion that it may refer to history and could alternatively be labeled 2007, 2006 and 2005.
FY 1 is the first prior fiscal year.
FY 2 is the second prior fiscal year.
FY 3 is the third prior fiscal year.
It would be inappropriate to use 2007, 2006 and 2005, because that would tend to suggest a calendar year basis for the data versus a fiscal year basis. Additionally, different companies have different fiscal years.
For example, if one company has a fiscal year ending December 31 and other has a fiscal year ending June 30, then as of July 2008, the first company is in fiscal 2008 and the second company is in fiscal 2009.
Note that for GAAP purposes the “year” number (e.g. 2007 versus 2006) is based on the date on which the fiscal year ends, whereas for tax purposes the year number is based on the date on which the year begins.
For these reasons first, second and third prior fiscal years as FY1, FY2 and FY3 is more accurate, and is the convention for stock data reporting.
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 About Richard Shaw (http://www.QVMgroup.com)
Richard is a principal of QVM Group LLC, a fee-based investment advisor based in Connecticut with clients across the country. He provides investment coaching to "do-it-yourself" investors, and manages portfolios for those who prefer not to make their own decisions. His investment approach is based on value, asset allocation, benchmarking, expense control, risk management, customizing portfolios to each client's specific circumstances, and regular communication about strategy and performance. The QVM Group team also provides municipal refinance services, strategic business planning and financial analysis service for new ventures, private acquisition analysis, and custom investment research. Richard's extensive experience, includes serving on the Board of Directors of Aberdeen Asset Management PLC (London Stock Exchange: ADN), membership on the Board of Directors of Phoenix Investment Counsel (renamed Virtus Investment Advisors), a U.S. pension manager and investment advisor to the Phoenix Funds (renamed Virtus Funds), as well as serving as Managing Director of a series of offshore investment funds based in Luxembourg. He has led institutional asset management sales and had overall responsibility for management of a U.S. mutual funds broker-dealer. He was a charter investor and member of the Board of Directors of several internet companies, including Lending Tree prior to its IPO. He is a graduate of Dartmouth College. QVM Group LLC is a Registered Investment Advisor. Visit the QVM Group website http://www.qvmgroup.com/QVMinvest/ |
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