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

Green your workplace

News
Thursday, April 03, 2014
100Green14logo200oxBY OB STAFF

Learn how to green your workplace and lower your environmental footprint at the office. Oregon Business presents a two-hour "Greening Your Workplace" seminar on May 28th, 2014 at the Nines Hotel in Portland.


Read more...

Q & A with Chuck Eggert

News
Thursday, March 06, 2014
03.06.14 thumb pacfoodsBY HANNAH WALLACE | OB BLOGGER

The founder of Pacific Foods talks about why his company has flown under the radar in Oregon, how saving a family-run chicken hatchery has helped his bottom line and why he thinks organic food is anything but elitist.


Read more...

The more they change, the more they stay the same

March 2014
Tuesday, February 25, 2014
100-best-collageBY BRANDON SAWYER

The 100 Best Companies get more creative with perks and more generous with benefits; employees seek empowering relations with management and coworkers.


Read more...

Spreading the wealth

March 2014
Tuesday, February 25, 2014
HiResBY PAIGE PARKER

A money management firm broadens its reach. 


Read more...

Are millennials reshaping politics in the Pacific Northwest?

News
Wednesday, April 02, 2014

MillennialsThumbA new report explores the impact of millennials on Oregon's business and political climate.


Read more...

Fuel's gold

March 2014
Tuesday, February 25, 2014
BY SOPHIA BENNETT

The coastal town of Coos Bay appears poised to land every economic development director’s dream: a single employer that will bring hundreds of family-wage jobs and millions in tax revenue. 


Read more...

The 2014 100 Best Companies to Work for in Oregon

News
Friday, February 28, 2014

100best14logo ThumbnailThe 21st annual 100 Best Companies to Work For in Oregon list was announced Thursday night at an awards dinner at the Oregon Convention Center.


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