Home Back Issues August 2008 Public companies vanish while profits rise

Public companies vanish while profits rise

| Print |  Email
Archives - August 2008
Friday, August 01, 2008

PublicCosLogo

Going, going... gone


Oregon public companies keep disappearing but revenues and profits still climb.


Publicly traded companies are becoming an endangered species in Oregon. Some have opted to move headquarters. Others have been acquired by out-of-state companies. A few have gone private or simply out of business. Worse, the IPO tap remains dry. Business Week reports that second quarter 2008 was the first since 1978 with not a single VC-backed initial public offering nationwide. Our list now numbers 57 companies, down five from last year. And among these just 65% were profitable, compared to 73% last year.

In spite of the dwindling number of companies, total revenue for this year’s list jumped 6.5% to $49.0 billion, propelled by manufacturers such as Precision Castparts, Schnitzer Steel and Greenbrier Industries, which grew revenue 29%, 39% and 28%, respectively. Overall net income scored even better, growing 21.6% to $3.7 billion. Total market value at the end of 2007 also increased — 17.2% to $74.3 billion.

The largest company, Nike, earned another personal best, growing revenue 14% and net income a whopping 26% to $1.9 billion. Its year-end market value ballooned 27% to $31.8 billion, followed by Precision Castparts at $10.7 billion (a 79% increase) and FLIR Systems, which more than doubled value to $4.3 billion.

In total, seven companies from last year said goodbye. The 159-year-old timber company Pope & Talbot, in midst of bankruptcy, did not file an annual report for 2007, while medical-device-maker microHelix went completely out of business. Iconic high-tech manufacturer Tektronix, Corillian Corp. and PW Eagle all were acquired by out-of-state companies. Northwest Pipe Co. shifted headquarters across the Columbia River to Vancouver, and Axial Vector Motor Co. propelled much of its ownership and offices all the way to Dubai, trailed by shareholder allegations of fraud and an SEC investigation.

Two small public companies joined the list this year: Znomics (No. 52), a biotech company developing pharmaceuticals that moved headquarters to Portland from British Columbia in late 2007; and Torrent Energy Corp. (No. 56), an exploratory energy company that moved from Lynnwood, Wash., also to Portland, in late 2006.         

BRANDON SAWYER

Continue to List, ranks 1-34

 


Skip to ranks 35-57


 

 

More Articles

Fork & Bottle

October 2014
Thursday, September 25, 2014

National media can’t get enough of Oregon’s pinot noir, artisan-food purveyors and lively, independent film scene.


Read more...

OB Poll: Wineries and groceries

News
Friday, October 24, 2014

24-winethumbA majority of respondents agreed: Local vineyards should remain Oregon-owned and quality is the most important factor when determining where to eat or buy groceries.


Read more...

A Recipe for Success

October 2014
Thursday, September 25, 2014
BY LINDA BAKER

Two businesswomen, two iconic food brands and one food-obsessed city. We thought this sounded like a recipe for good conversation. So in late August, Oregon Business sat down with Wendy Collie, CEO of New Seasons Market, and Kim Malek, owner of Salt & Straw, to discuss their rapidly expanding businesses and Oregon’s trendsetting food scene.


Read more...

October surprise

News
Sunday, October 12, 2014
roundup-logo-thumb-14BY LINDA BAKER

Cylvia Hayes, tabloid vs. watchdog journalism and the looming threat of a Cascadia earthquake.


Read more...

100 Best Nonprofits announced

News
Thursday, October 02, 2014

100NP14logo4WebOregon Business magazine has named the sixth annual 100 Best Nonprofits to Work for in Oregon.


Read more...

I Know How You Feel

November/December 2014
Wednesday, October 22, 2014
BY JESSICA RIDGWAY

Most smartphones come equipped with speech recognition systems like Siri or Cortana that are capable of understanding the human voice and putting words into actions. But what if smartphones could do more? What if smartphones could register feeling?


Read more...

The Rail Baron

October 2014
Thursday, September 25, 2014
BY LINDA BAKER

Oil is gushing out of the U.S. and Canada, and much of it is coming from places that don’t have pipeline infrastructure. So it’s being shipped by rail.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS