Oregon’s Public Companies List 2010


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Ten years ago Oregon had 80 publicly traded companies. That crew has dwindled by well over a third during the past decade with just 51 this year. In fact, the state hasn’t had so few public companies since 1993 when there were 44.

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Leaner companies earn more profits on lower sales, and IPOs return.

LIST RESEARCH AND STORY BY BRANDON SAWYER

Ten years ago Oregon had 80 publicly traded companies. That crew has dwindled by well over a third during the past decade with just 51 this year. In fact, the state hasn’t had so few public companies since 1993 when there were 44. A look at some of Oregon’s once-prominent companies provides good examples of what happened. Many were acquired by other companies, such as Willamette Industries, which was bought by Weyerhaeuser in 2002. Several moved headquarters out of state, such as Louisiana Pacific, which left for Nashville in 2004. A few even dissolved in bankruptcy such as Crown Pacific Partners did in 2004. Still others, such as Elmer’s Restaurants in 2004, chose to return to private ownership, perhaps prompted by tighter reporting restrictions imposed by the Sarbanes-Oxley Act of 2002.

Sarbanes-Oxley has also been blamed for spooking private companies from going public in recent years. Initial public offerings have become almost extinct, particularly in Oregon where the last big IPO, Portland General Electric’s, sprang unexpectedly out of Enron’s bankruptcy. However, hope is on the way with SEC filings for IPOs in May from Tripwire and Erickson Air-Crane, both based in Portland. Soon Oregon may have two new public companies to add to its roster.

Eight companies deserted the list this year: Wilsonville’s Movie Gallery finally liquidated assets and rode into the sunset; AVI Biopharma migrated from Corvallis to Bothell, Wash.; Bend’s Clear Choice Health Plans was absorbed by Eugene-based not-for-profit PacificSource; Tacoma, Wash.-based Columbia State Bank snatched up Columbia Bancorp of The Dalles; EnergyConnect Group zapped headquarters from Lake Oswego to Campbell, Calif.; Home Valley Bancorp in Grant’s Pass and Ashland’s ecoSolutions did not release annual reports; and non-operational MathStar was acquired by Wisconsin-based Sajan.

Five companies joined the list in 2010, including Tigard-based Powin Corp. (No. 35), a distributor of Chinese manufactured products that touted an April IPO but is still not traded on an exchange; Calypte Biomedical Corp. (No. 46), a Portland developer of HIV and chronic disease tests originally from California; and three “development-stage” companies with no revenue at the bottom of the list: Business Outsourcing Services, Xzeres Wind Corp. and CarePayment Technologies (formerly listed as microHelix in 2007).

Nike has been the top dog since 1993. Despite the economy and lower revenue, it had record annual profits of $1.9 billion this year and its stock price grew 20%. Nike’s year-end market value alone, $32.2 billion, accounts for nearly half of the value of all our public companies.

Among the rest of the top 10, StanCorp Financial Group bucked the financial industry trend to grow earnings 28%, trading places with Schnitzer Steel, which went from earning $248.7 million in 2008 to losing $32.2 million in 2009. But Lithia Motors reversed course, turning a $252.6 million loss in 2008 to a $9.2 million profit in 2009. Portland General Electric, FLIR Systems and Northwest Natural Gas all enjoyed higher profits than last year, while at Precision Castparts and Columbia Sportswear income fell 12% and 30%, respectively. Greenbrier Companies maintained its spot in the top 10 despite a 21% drop in revenue and a $54.1 million loss.

Total revenue for the list was $43.2 billion, a drop of 14% compared to last year. On the other hand, total net income climbed 23% to $2.4 billion from $1.9 billion last year, and market value for all the companies as of Dec. 31, 2009, rose 37% to $67.3 billion. After the layoffs and cost-cutting of the last couple years, Oregon’s public companies seem to be wringing bigger profits out of weaker sales, and getting some relief in the stock market.

 


RANKCOMPANY (SYMBOL) LOCATIONINDUSTRY
FISCAL YEAR
REVENUE
’09/’08
(1000s)
NET
INCOME
’09/’08
(1000s)
2009 DIL. EPSP/E RATIO /
D/E RATIO
S/H EQUITY /
TOTAL
ASSETS
(1000s)
2009
ROE / ROI
12/31/09
MARKET VALUE (1000s)
’10’09
11 Nike* (NKE)
One Bowerman Dr., Beaverton 97005
Sportswear
5/31/10
19,014,000
19,176,100
1,906,700
1,486,700
3.8619
48%
9,753,700
14,419,300
19.5%
13.2%
32,205,954
22 Precision Castparts Corp.* (PCP)
4650 S.W. Macadam Ave., Ste. 400, Portland 97239
Diversified mfg.
3/28/10
5,486,600
6,801,200
922,600
1,044,800
6.4919
30%
5,891,700
7,660,700
15.7%
12.0%
15,634,167
34 StanCorp Financial Group (SFG)
1100 S.W. Sixth Ave., Portland 97204
Insurance
12/31/09
2,770,000
2,667,000
208,900
162,900
4.269
855%
1,735,400
16,569,500
12.0%
1.3%
1,910,755
43 Schnitzer Steel Industries (SCHN)
3200 N.W. Yeon Ave., Portland 97210
Steel
8/31/09
1,900,226
3,641,550
-32,229
248,683
-1.14NA
38%
919,367
1,268,233
-3.5%
-2.5%
1,324,438
57 Portland General Electric Co. (POR)
121 S.W. Salmon St., Portland 97204
Electric utilities
12/31/09
1,804,000
1,745,000
89,000
87,000
1.3116
235%
1,543,000
5,172,000
5.8%
1.7%
1,535,057
66 Lithia Motors (LAD)
360 E. Jackson St., Medford 97501
Auto sales
12/31/09
1,749,315
2,063,000
9,151
-252,586
0.4120
192%
307,038
895,100
3.0%
1.0%
212,060
78 Columbia Sportswear Co. (COLM)
14375 N.W. Science Park Dr., Portland 97229
Sportswear
12/31/09
1,244,023
1,317,835
67,021
95,047
1.9720
22%
997,228
1,212,883
6.7%
5.5%
1,317,053
810 FLIR Systems (FLIR)
27700 S.W. Parkway Ave., Wilsonville 97070
Thermal imaging
12/31/09
1,147,087
1,076,974
230,213
200,900
1.4523
23%
1,203,749
1,485,249
19.1%
15.5%
5,001,995
99 Greenbrier Companies (GBX)
One Centerpointe Dr., Ste. 200, Lake Oswego 97035
Heavy mfg.
8/31/09
1,018,125
1,290,079
-54,060
19,542
-3.21NA
391%
213,364
1,048,291
-25.3%
-5.2%
177,322
1011 Northwest Natural Gas Co. (NWN)
220 N.W. Second Ave., Portland 97209
Utilities
12/31/09
1,012,711
1,037,855
75,122
69,525
2.8316
90%
1,261,805
2,399,252
6.0%
3.1%
1,195,046
1112 Mentor Graphics Corp.* (MENT)
8005 S.W. Boeckman Rd., Wilsonville 97070
Software
1/31/10
802,727
789,101
-21,889
-91,252
-0.23NA
91%
640,017
1,223,041
-3.4%
-1.8%
877,623
1215 TriQuint Semiconductor (TQNT)
2300 N.E. Brookwood Pkwy., HIllsboro 97124
Semiconductors
12/31/09
654,301
573,431
16,245
-14,613
0.1155
18%
577,162
680,041
2.8%
2.4%
919,674
1313 FEI Co. (FEIC)
5350 N.E. Dawson Creek Dr., Hillsboro 97124
Instruments
12/31/09
577,344
599,179
22,644
17,988
0.639
68%
567,524
953,969
4.0%
2.4%
884,386
1414 Blount International (BLT)
4909 S.E. International Way, Portland 97222
Cutting tools mfg.
12/31/09
502,426
597,035
22,993
38,599
0.4821
NA
-6,740
483,566
NA
4.8%
482,366
1516 Umpqua Holdings Corp. (UMPQ)
One S.W. Columbia St., Ste. 1200, Portland 97258
Banking
12/31/09
497,248
549,664
-153,366
51,044
-2.36NA
499%
1,566,517
9,381,372
-9.8%
-1.6%
1,163,800
1618 McCormick & Schmick’s Seafood
Restaurants (MSSR)

1414 N.W. Northrup St., Ste. 700, Portland 97209
Restaurants
12/26/09
360,129
390,718
-14,715
-69,611
-1NA
105%
93,135
191,022
-15.8%
-7.7%
102,904
1717 Cascade Corp.* (CASC)
2201 N.E. 201st Ave., Fairview 97024
Equipment mfg.
1/31/10
314,353
534,172
-38,649
1,267
-3.57NA
58%
215,762
341,931
-17.9%
-11.3%
299,229
1820 RadiSys Corp. (RSYS)
5445 N.E. Dawson Creek Dr., Hillsboro 97124
Electronics
12/31/09
304,273
372,584
-42,567
-67,262
-1.81NA
114%
129,717
277,034
-32.8%
-15.4%
228,016
1919 Merix Corp.** (MERX)
15725 S.W. Greystone Ct., Ste. 200, Beaverton 97006
Electronics
5/30/09
287,127
378,637
-49,264
-25,551
-2.34NA
196%
66,523
200,670
-74.1%
-24.5%
53,611
2022 Lattice Semiconductor Corp. (LSCC)
5555 N.E. Moore Court, Hillsboro 97124
Semiconductors
1/2/10
194,420
222,262
-6,957
-38,206
-0.06NA
17%
253,360
296,557
-2.7%
-2.3%
312,098
2121 Planar Systems (PLNR)
1195 N.W. Compton Dr., Beaverton 97006
Elec. display mfg.
9/25/09
174,931
259,310
-3,424
-89,758
-0.19NA
55%
71,411
110,962
-4.8%
-3.1%
56,248
2226 Electro Scientific Industries* (ESIO)
13900 N.W. Science Park Dr., Portland 97229
Electronics
4/3/10
148,893
157,313
-11,984
-51,050
-0.44NA
15%
342,662
394,418
-3.5%
-3.0%
298,253
2327 LaCrosse Footwear (BOOT)
17634 N.E. Airport Way, Portland 97230
Footwear
12/31/09
139,152
127,956
5,510
6,167
0.8615
35%
65,595
88,585
8.4%
6.2%
83,975
2430 Craft Brewers Alliance Inc. (HOOK)
929 N. Russell St., Portland 97227
Beer brewing
12/31/09
131,704
86,013
887
-33,278
0.0548
76%
80,632
141,585
1.1%
0.6%
40,978
2525 Cascade Bancorp (CACB)
1100 N.W. Wall St., Bend 97701
Banking
12/31/09
128,437
157,763
-93,080
-134,566
-3.32NA
4768%
45,067
2,193,877
-206.5%
-4.2%
19,158

 


 

RANKCOMPANY (SYMBOL) LOCATIONINDUSTRY
FISCAL YEAR
REVENUE
’09/’08
(1000s)
NET
INCOME
’09/’08
(1000s)
2009 DIL. EPSP/E RATIO /
D/E RATIO
S/H EQUITY /
TOTAL
ASSETS
(1000s)
2009
ROE / ROI
12/31/09
MARKET VALUE (1000s)
’10’09
2624 West Coast Bancorp (WCBO)
5335 S.W. Meadows Rd., Ste. 201, Lake Oswego 97035
Banking
12/31/09
121,279
165,475
-91,213
-6,313
-5.83NA
998%
249,058
2,733,547
-36.6%
-3.3%
32,846
2729 Rentrak Corp.* (RENT)
7700 N.E. Ambassador Pl., Portland 97220
Information mgmt.
3/31/10
91,076
94,966
576
5,363
0.05431
27%
51,228
64,806
1.1%
0.9%
186,401
2828 PremierWest Bancorp (PRWT)
503 Airport Rd., Ste. 101, Medford 97504
Banking
12/31/09
88,967
99,170
-146,472
-7,539
-6.01NA
2048%
71,535
1,536,314
-204.8%
-9.5%
35,176
2934 Pacific Continental Corp. (PCBK)
111 W. Seventh Ave., Eugene 97401
Banking
12/31/09
71,280
70,214
-4,879
12,939
-0.35NA
624%
165,662
1,199,113
-2.9%
-40.0%
210,427
3031 Pixelworks (PXLW)
16760 S.W. Upper Boones Ferry Rd., Ste. 101, Portland 97224
Semiconductors
12/31/09
61,093
85,164
6,455
7,978
0.476
329%
13,073
56,078
49.4%
11.5%
40,745
3133 Cascade Microtech (CSCD)
2430 N.W. 206th Ave., Beaverton 97006
Electronics
12/31/09
53,541
76,561
-7,649
-34,577
-0.57NA
13%
71,385
80,944
-10.7%
-9.4%
61,642
3237 Yocream International (YOCM)
5858 N.E. 87th Ave., Portland 97220
Frozen desserts
10/31/09
50,733
42,971
5,639
4,380
2.2415
65%
22,427
36,945
25.1%
15.3%
70,934
3336 Jewett Cameron Trading Co. Ltd. (JCTCF)
32275 N.W. Hillcrest St., North Plains 97133
Lumber/tool dist.
8/31/09
42,130
64,321
1,582
2,610
0.669
10%
18,613
20,429
8.5%
7.7%
16,378
3435 Williams Controls (WMCO)
14100 S.W. 72nd Ave., Portland 97224
Electronics
9/30/09
38,809
65,781
-2,009
7,830
-0.27NA
87%
20,090
37,595
-10.0%
-5.3%
57,384
35NR Powin Corp.***
6975 S.W. Sandburg Rd., Ste. 326, Tigard 97223
Wholesale distrib.
12/31/09
36,911
41,042
1,189
1,459
0.010
98%
6,459
12,783
18.4%
9.3%
NA
3644 Waytronx (WYNX)
20050 S.W. 112th Ave., Tualatin 97062
Thermal mgmt. sol.
12/31/09
28,851
19,556
-4,199
-1,830
-0.02NA
553%
5,937
38,806
-70.7%
-10.8%
14,436
3738 Citizens Bancorp (CZBC)
275 S.W. Third St., Corvallis 97339
Banking
12/31/09
24,260
26,347
3,658
4,910
0.7119
702%
50,311
403,519
7.3%
0.9%
63,005
3843 Digimarc Corp. (DMRC)
9405 S.W. Gemini Dr., Beaverton 97008
Digital technology
12/31/09
19,071
19,782
-2,757
1,491
-0.39NA
8%
46,659
50,483
-5.9%
-5.5%
108,018
3945 Willamette Valley Vineyards (WVVI)
8800 Enchanted Way, S.E., Turner 97392
Wine production
12/31/09
16,564
16,048
731
709
0.1523
47%
15,140
22,305
4.8%
3.3%
17,112
4054 Paulson Capital Corp. (PLCC)
811 S.W. Naito Pkwy., Ste. 200, Portland 97204
Brokerage
12/31/09
15,245
-8,015
-2,425
-17,094
-0.41NA
24%
18,888
23,481
-12.8%
-10.3%
9,368
4142 Synthetech* (NZYM)
1290 Industrial Way, Albany 97322
Pharmaceuticals
3/31/10
15,244
19,862
1,157
1,151
0.088
23%
10,822
13,275
10.7%
8.7%
13,918
4247 Albina Community Bancorp (ACBC)
430 N.W. 10th Ave., Ste. 101, Portland 97209
Banking
12/31/09
14,381
14,349
-9,478
-927
-7.19NA
5395%
3,639
199,969
-260.5%
-4.7%
1,083
4341 New World Brands (NWBD)
340 W. Fifth Ave., Eugene 97401
Communications
12/31/09
11,952
20,280
-4,185
-1,630
-0.01NA
NA
-1,937
6,544
NA
-64.0%
2,182
4448 Schmitt Industries (SMIT)
2765 N.W. Nicolai St., Portland 97210
Test/control sys.
5/31/09
9,501
11,421
-2,154
1,103
-0.75NA
8%
11,718
12,624
-18.4%
-17.1%
10,133
4549 Bioject Medical Technologies (BJCT)
20245 S.W. 95th Ave., Tualatin 97062
Medical inst.
12/31/09
6,692
6,473
-1,132
-3,043
-0.07NA
263%
1,448
5,256
-78.2%
-21.5%
2,305
46NR Calypte Biomedical Corp. (CBMC)
16290 S.W. Upper Boones Ferry Rd., Portland 97224
Medical equipment
12/31/09
1,012
725
-3,608
-12,537
-0.01NA
-1514400%
5,421
NA
NA
-66.6%
3,691
4752 Znomics† (ZNOM)
2611 S.W. Third Ave., Ste. 200, Portland 97201
Pharmaceuticals
12/31/09
40
351
-679
-3,532
-0.06NA
290%
29
113
-2341.4%
-600.9%
468
4853 Aultra Gold (AGDI)
120 N. Fifth St., Jacksonville 97530
Metal mining
12/31/09
0
0
-1,180
-572
-0.02NA
NA
-1,232
165
NA
-715.2%
961
48NR Business Outsourcing Services (BOUT)
1001 S.W. Fifth Ave., Ste. 1000, Portland 97204
Accounting svcs.
11/30/09
0
0
-26
-4
-0.010
23%
26
32
-100.0%
-81.3%
NA
48NR CarePayment Technologies†† (CPYT)
5300 S.W. Meadows, Ste. 400, Lake Oswego 97035
Medical credit
12/31/09
0
0
-917
-4,413
-0.45NA
NA
-1,090
10,119
NA
-9.1%
2,767
48NR Xzeres Wind Corp.* (XWND)
1500 S.W. First St., Ste. 910, Portland 97201
Wind energy sys.
2/28/10
0
0
-68,378
-487
-0.010
NA
-232
196
NA
-34886.7%
NA

Footnotes:
* Results are for 2010 fiscal year
** Merged with Viasystems Group in February 2010 and new company
is headquartered in St. Louis, MO.
*** Announced initial public offering in April 2010 but stock was not
yet traded on a market at press time
† Became a shell company in February 2010 with no current operations
†† Formerly MicroHelix
NA: Not Applicable
NR: Not Ranked


 

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