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CHART 2:
[Manufacturing Profits Per Dollar of Sales]
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| Sales and after-tax profits data for all manufacturing are presented in Table 1 on both a seasonally adjusted and an unadjusted basis. Seasonally adjusted historical data for this series, as well as for total durable and total nondurable manufacturing, are presented in Table 3. Data for individual manufacturing industries are not seasonally adjusted. |
For the first quarter of 2000, manufacturers' seasonally adjusted after-tax profits were $76.3 billion, up $7.7 billion or 11.3 percent (+\-2.2%) from last quarter. On an unadjusted basis, first quarter after-tax profits were $75.6 billion, up $11.4 billion or 17.7 percent (+\-2.2%) from last quarter, and up $15.7 billion or 26.2 percent (+\-2.2%) from the same quarter a year ago.
Unadjusted durable manufacturers' after-tax profits for the first quarter of 2000 were $38.4 billion, up $2.7 billion or 7.6 percent (+\-2.9%) from the fourth quarter of 1999. Most underlying industry categories were up. Motor vehicles' $1.3 (+\-0.1) billion and fabricated metals' $1.3 (+\-0.3) billion increases were primarily due to higher operating profits during the quarter. Aircraft's $0.4 (+\-0.1) billion increase followed major restructuring charges in the fourth quarter; this more than offset a slight decline in operating profits this quarter. Miscellaneous manufacturing, nonferrous metals, and iron and steel also showed statistically significant increases. Electrical machinery's $1.3 (+\-0.5) billion decrease was due to a decline in dividend income more than offsetting increases in nonrecurring gains and improved equity earnings. Instruments' $0.7 (+\-0.3) billion decrease was mainly due to increased nonoperating expenses. Stone, clay and glass' $0.4 (+\-0.2) billion decrease was primarily due to lower operating profits.
When compared to the first quarter of 1999, unadjusted durable manufacturers' after-tax profits were up $5.0 billion or 15.0 percent (+\-2.9%). Most underlying industry categories were up. Electrical machinery's $3.0 (+\-0.5) billion improvement was due to higher operating profits, equity earnings, and gains on asset sales. Instruments' $1.1 (+\-0.3) billion increase was due to higher operating profits and equity earnings. Machinery's $0.8 (+\-0.4) billion, fabricated metals' $0.8 (+\-0.4) billion, and iron and steel's $0.5 (+\-0.1) billion increases were due to higher operating profits during the quarter. Nonferrous metals' $0.4 (+\-0.1) billion increase was due to improved equity earnings more than offsetting a decline in nonrecurring gains. Miscellaneous manufacturing and motor vehicles also showed statistically significant increases. Aircraft's $1.6 (+\-0.1) billion decrease was due to lower nonrecurring gains.
Unadjusted nondurable manufacturers' after-tax profits for the first quarter of 2000 were $37.2 billion, up $8.7 billion or 30.4 percent (+\-3.3%) when compared to the fourth quarter of 1999. Petroleum's $4.0 (+\-0.1) billion increase accounted for nearly one-half of the increase in the industry; this was due to higher operating profits and equity income more than offsetting significant restructuring and asset impairment charges taken in the fourth quarter. Residual of chemicals' $2.7 (+\-0.2) billion increase was due to an increase in operating profits as well as an absence of restructuring charges. Industrial chemicals' $1.5 (+\-0.1) billion increase was mainly due to higher operating profits. Apparel, rubber, and paper also showed statistically significant increases. Drugs' $0.9 (+\-0.3) billion decrease was due to a decrease in nonoperating income more than offsetting an increase in operating profits.
When compared to the same quarter in 1999, unadjusted nondurable manufacturers' after-tax profits were up $10.7 billion or 40.3 percent (+\-3.1%). Petroleum's $6.1 (+\-0.1) billion increase, the largest of the group, was due to improvements in operating profits and equity earnings. Paper's $1.5 (+\-0.1) billion, and food's $1.5 (+\-0.3) billion increases were mainly due to higher operating profits. Printing's $1.2 (+\-0.3) billion increase was due to significant gains on asset sales in this quarter. Industrial chemicals and apparel showed increases due to nonoperating income. Residual of chemicals' and drugs' decreases were due to decreased nonoperating income.
Manufacturers' seasonally adjusted sales for the first quarter of 2000 were $1,124.4 billion, up $47.9 billion or 4.4 percent (+\-1.0%) from last quarter. On an unadjusted basis, sales were $1,089.6 billion showing no statistically significant change from last quarter, and up $116.9 billion or 12.0 percent (+\-1.1%) from the first quarter of 1999.
Seasonally adjusted durable sales were $611.6 billion, up $22.1 billion or 3.7 percent (+\-1.3%) from last quarter. Seasonally adjusted nondurable sales were $512.9 billion, up $25.8 billion or 5.3 percent (+\-1.3%) from last quarter. Unadjusted durable sales were $592.4 billion showing no statistically significant change when compared to the fourth quarter of 1999. On a same quarter a year ago basis, unadjusted durable sales were up $50.2 billion or 9.3 percent (+\-1.4%). Unadjusted nondurable sales were $497.2 billion showing no statistically significant change from last quarter, and up $66.7 billion or 15.5 percent (+\-1.5%) from a year ago.
Also included in this release are first quarter 2000 data for large mining and wholesale trade corporations.
These advance data, based on quarterly financial reports from about 8,200 corporations, were released today from the Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations First quarter 2000 (QFR-00-1). The publication includes statements of income and retained earnings, balance sheets, and related financial and operating ratios. The aggregated data are classified by industry and asset size.
The publication becomes available for sale approximately two weeks from the date of this release from the Superintendent of Documents, P.O. Box 371954, Pittsburgh, PA 15250-7954 (202-512-1800). The cost for an annual subscription is $34 domestic and $42.50 foreign. Remittances from foreign countries must be by international money order or by draft on a U.S. bank. Files are also available on 3.5 inch flexible diskettes from U.S. Department of Commerce, Census Bureau (MS1921), P.O. Box 277943, Atlanta, GA 30384-7943 (301-763-INFO(4636)). The annual subscription cost is $84; $66 for the first diskette and $6 for each additional diskette. Second quarter 2000 advance data are scheduled for release on September 11, 2000.
EXPLANATORY NOTES:
This quarter's publication contains data revised due to the reclassification of corporations by industry, and revisions that reflect respondents' corrections of submitted data subsequent to original publication.
The data presented in this report are estimated from a sample survey and therefore are subject to sampling variability as well as nonsampling variability such as response error, nonreporting, and coverage errors. Estimates of sampling variability are presented in the publication. A statement such as "up 2.5 (+\-0.15) cents," appearing in the text, indicates the range (+2.35 to +2.65 cents) in which the actual change is likely to have occurred. The range given for the change is a 90 percent confidence interval that accounts only for sampling variability. If the range had contained zero (0), it would have been uncertain whether there was an increase or decrease; that is, the change would not have been statistically significant. For any comparison cited without a confidence interval, the change is statistically significant. The quarterly publication includes more detailed explanations of confidence intervals and sampling variability, along with additional measures of sampling variability.
The complete report, Quarterly Financial Report for Manufacturing,
Mining and Trade Corporations, is available for download,
under "Products: Publication", at
<http://www.census.gov/csd/qfr/>.
This press release is available in
page image format (.pdf).
This press release is available on the day of issue through the Department
of Commerce's on-line Economic Bulletin Board (202-482-1986) and on the
Internet (http://www.census.gov/csd/www/qfr.html).
The publication becomes available for sale approximately two weeks from
the date of this release from the Superintendent of Documents,
P.O. Box 371954, Pittsburgh, PA 15250-7954 (202-512-1800). The cost for
an annual subscription is $34 domestic and $42.50 foreign. [Remittances
from foreign countries must be by international money order or by draft
on a U.S. bank.]
Files are also available on 3.5 inch flexible diskettes from
U.S. Department of Commerce, Bureau of the Census (MS1921),
P.O. Box 277943, Atlanta, GA 30384-7943 (301-763-INFO(4636)). The annual
subscription cost is $84; $66 for the first diskette and $6 for each
additional diskette.
Questions regarding this report (or program) should be directed to
Ronald B. Horton (301) 457-3343 or Frank Hartman (301) 457-3379.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-00-1, June 2000. U.S. Census Bureau, June 2000.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-00-1, June 2000. U.S. Census Bureau, June 2000.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-00-1, June 2000. U.S. Census Bureau, June 2000.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-00-1, June 2000. U.S. Census Bureau, June 2000.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-00-1, June 2000. U.S. Census Bureau, June 2000.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-00-1, June 2000. U.S. Census Bureau, June 2000.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations--QFR-00-1, June 2000. U.S. Census Bureau, June 2000.
The publication becomes available for sale approximately two weeks from the
date of this release from the Superintendent of Documents, P.O. Box 371954,
Pittsburgh, PA 15250-7954 (202-512-1800). The annual subscription rate is $34,
(foriegn customers, $42.50 on an international money order or by draft on a
U.S. bank). Single publication copies are $10 and $12.50, respectively and
are available at the Bureau of the Census, (301) 763-INFO(4636).
Electronic files are also available on
3.5 inch flexible diskettes from U.S. Department of Commerce,
Bureau of the Census, (MS1921), P.O. Box 277943, Atlanta, GA 30384-7943
(301-763-INFO(4636)). The annual subscription cost is
$84; $66 for the first diskette and $6 for each additional diskette.
This report is also available on the day of issue through the Department of
Commerce's on-line Economic Bulletin Board (N-8-1) (202-482-1986).
Schedule of Advance Data Release Dates--2000
Questions concerning this advance report should be directed to
Contact:
Ronald B. Horton (301) 457-3343 or
Frank Hartman (301) 457-3379.
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Quarterly Financial Report
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TABLE 1. PART A--QUARTERLY FINANCIAL REPORT FOR MANUFACTURING CORPORATIONS
Seasonally Adjusted
1Q 4Q 1Q
2000 1999(1) 1999(1)
Rate of return (after taxes):
Cents per dollar of sales ................ 6.8 6.4 6.0
Percent on equity (annual rate) .......... NA NA NA
(million dollars)
Sales ....................................1,124,444 1,076,588 1,004,214
Income after income taxes ................ 76,287 68,543 60,488
Dividends paid (cash) .................... NA NA NA
(1) Revised.
TABLE 1. PART B--QUARTERLY FINANCIAL REPORT FOR MANUFACTURING CORPORATIONS
Unadjusted
1Q 4Q 1Q
2000 1999(1) 1999(1)
Rate of return (after taxes):
Cents per dollar of sales ................ 6.9 5.9 6.2
Percent on equity (annual rate) .......... 17.9 15.7 15.9
(million dollars)
Sales ....................................1,089,588 1,090,457 972,672
Income after income taxes ................ 75,629 64,258 59,938
Dividends paid (cash) .................... 28,799 27,389 25,151
(1) Revised.
TABLE 2. PART A--SALES AND PROFITS OF CORPORATIONS ENGAGED IN
MANUFACTURING, MINING, AND TRADE--NOT SEASONALLY ADJUSTED
Sales
1Q 4Q 1Q
Industry Group 2000 1999(1) 1999(1)
(million dollars)
All manufacturing corporations ............1,089,588 1,090,457 972,672
Nondurable goods .......................... 497,212 491,322 430,534
Food and tobacco......................... 124,065 129,182 119,520
Textiles ................................ 14,237 14,523 14,987
Apparel(2) .............................. 17,797 18,480 17,369
Paper ................................... 45,863 44,917 39,563
Printing ................................ 48,172 51,096 45,746
Chemicals ............................... 119,320 116,548 112,356
Industrial chemicals and synthetics(3).. 40,562 38,796 36,653
Drugs(3) ............................... 42,360 41,625 37,496
Residual of chemicals(3)................ 36,398 36,127 38,207
Petroleum ............................... 97,124 87,622 52,607
Rubber .................................. 30,635 28,955 28,386
Durable goods ............................. 592,376 599,134 542,137
Stone, clay, and glass .................. 19,661 21,304 17,667
Primary metals .......................... 39,916 38,508 35,321
Iron and steel(3) ...................... 20,537 19,577 17,105
Nonferrous metals(3).................... 19,380 18,931 18,215
Fabricated metals ....................... 47,323 45,378 44,857
Machinery ............................... 114,404 115,888 104,465
Electrical machinery .................... 125,050 124,954 113,152
Transportation Equipment ................ 174,145 177,518 156,140
Motor vehicles and equipment(3) ........ 126,698 123,688 108,365
Aircraft, guided missiles, and parts(3). 35,263 41,857 38,396
Instruments ............................. 28,786 30,970 27,884
Other durable goods ..................... 43,090 44,613 42,652
Lumber and wood products(3) ............ 16,892 17,750 17,138
Furniture and fixtures(3) .............. 17,098 16,923 16,465
Miscellaneous manufacturing(3) ......... 9,100 9,940 9,048
Mining(4) ................................. 18,535 18,725 15,450
Wholesale trade(4) ........................ 305,271 310,402 264,856
Retail trade(4) ........................... NA 343,893 284,112
(1) Revised.
(2) Includes leather industry (previously titled "Other Nondurables").
(3) Included in major industry above.
(4) Mining and trade data are of the quarterly results of companies
in those divisions with assets over $50 million; whereas, data
for manufacturing corporations represent the quarterly results of
companies with assets over $250,000.
TABLE 2. PART B--SALES AND PROFITS OF CORPORATIONS ENGAGED IN
MANUFACTURING, MINING, AND TRADE--NOT SEASONALLY ADJUSTED
Operating Profits*
1Q 4Q 1Q
Industry Group 2000 1999(1) 1999(1)
(million dollars)
All manufacturing corporations ............ 88,856 75,603 71,776
Nondurable goods .......................... 44,985 36,217 35,778
Food and tobacco......................... 12,034 11,619 10,432
Textiles ................................ 782 851 690
Apparel(2) .............................. 1,198 631 1,015
Paper ................................... 4,383 4,257 3,008
Printing ................................ 5,060 6,008 4,861
Chemicals ............................... 12,476 6,771 12,525
Industrial chemicals and synthetics(3).. 3,093 762 3,253
Drugs(3) ............................... 5,664 3,424 5,210
Residual of chemicals(3)................ 3,719 2,585 4,062
Petroleum ............................... 7,008 4,614 1,298
Rubber .................................. 2,042 1,466 1,949
Durable goods ............................. 43,871 39,386 35,998
Stone, clay, and glass .................. 1,725 2,161 1,459
Primary metals .......................... 2,311 1,527 1,516
Iron and steel(3) ...................... 927 571 415
Nonferrous metals(3).................... 1,384 956 1,102
Fabricated metals ....................... 4,726 3,487 3,928
Machinery ............................... 6,787 5,556 4,571
Electrical machinery .................... 11,246 11,640 8,214
Transportation Equipment ................ 10,850 9,522 10,495
Motor vehicles and equipment(3) ........ 6,636 5,102 6,569
Aircraft, guided missiles, and parts(3). 3,039 3,393 3,036
Instruments ............................. 3,207 3,003 2,655
Other durable goods ..................... 3,019 2,490 3,161
Lumber and wood products(3) ............ 933 1,036 1,301
Furniture and fixtures(3) .............. 1,145 1,029 1,250
Miscellaneous manufacturing(3) ......... 940 426 610
Mining(4) ................................. 2,082 1,735 394
Wholesale trade(4) ........................ 8,610 8,216 6,693
Retail trade(4) ........................... NA 21,333 12,755
* Operating profits are profits before nonoperating income and expense
items and income taxes.
(1) Revised.
(2) Includes leather industry (previously titled "Other Nondurables").
(3) Included in major industry above.
(4) Mining and trade data are of the quarterly results of companies
in those divisions with assets over $50 million; whereas, data
for manufacturing corporations represent the quarterly results of
companies with assets over $250,000.
TABLE 2. PART C--SALES AND PROFITS OF CORPORATIONS ENGAGED IN
MANUFACTURING, MINING, AND TRADE--NOT SEASONALLY ADJUSTED
After-Tax Profits
1Q 4Q 1Q
Industry Group 2000 1999(1) 1999(1)
(million dollars)
All manufacturing corporations ............ 75,629 64,258 59,938
Nondurable goods .......................... 37,225 28,557 26,531
Food and tobacco ........................ 8,229 8,040 6,725
Textiles ................................ 294 135 205
Apparel(2) .............................. 743 354 256
Paper ................................... 2,564 2,372 1,058
Printing ................................ 4,133 3,987 2,983
Chemicals ............................... 12,017 8,714 12,100
Industrial chemicals and synthetics(3).. 2,875 1,361 1,895
Drugs(3) ............................... 5,913 6,859 6,294
Residual of chemicals(3)................ 3,230 494 3,912
Petroleum ............................... 8,021 4,065 1,953
Rubber .................................. 1,224 891 1,251
Durable goods ............................. 38,404 35,701 33,407
Stone, clay, and glass .................. 854 1,254 824
Primary metals .......................... 1,544 646 663
Iron and steel(3) ...................... 462 31 (36)
Nonferrous metals(3) ................... 1,082 615 699
Fabricated metals ....................... 3,171 1,888 2,400
Machinery ............................... 7,155 6,787 6,311
Electrical machinery .................... 10,847 12,128 7,894
Transportation equipment ................ 10,037 7,931 11,408
Motor vehicles and equipment(3) ........ 7,162 5,826 6,910
Aircraft, guided missiles, and parts(3). 2,141 1,696 3,772
Instruments ............................. 2,990 3,728 1,808
Other durable goods ..................... 1,806 1,339 2,099
Lumber and wood products(3) ............ 610 576 944
Furniture and fixtures(3) .............. 535 624 748
Miscellaneous manufacturing(3) ......... 661 139 407
Mining(4) ................................. 1,213 185 (591)
Wholesale trade(4) ........................ 5,170 3,713 3,293
Retail trade(4) ........................... NA 12,382 6,315
(1) Revised.
(2) Includes leather industry (previously titled "Other Nondurables").
(3) Included in major industry above.
(4) Mining and trade data are of the quarterly results of companies
in those divisions with assets over $50 million; whereas, data
for manufacturing corporations represent the quarterly results of
companies with assets over $250,000.
TABLE 3. PART A--QUARTERLY FINANCIAL REPORT FOR MANUFACTURING
CORPORATIONS--SEASONALLY ADJUSTED
Sales(1)
Industry Group and Year Q1 Q2 Q3 Q4
(million dollars)
All manufacturing:
1995 .......................... 871,332 872,618 883,555 899,960
1996 .......................... 914,289 932,303 948,325 961,548
1997 .......................... 966,144 971,657 986,886 995,227
1998 .......................... 990,636 980,533 987,102 992,400
1999 ..........................1,004,214 1,025,282 1,056,465 1,076,588
2000 ..........................1,124,444
All nondurable manufacturing:
1995 .......................... 425,579 427,767 430,744 436,018
1996 .......................... 442,073 452,582 457,470 463,198
1997 .......................... 462,958 457,096 460,654 463,842
1998 .......................... 451,850 447,085 442,986 439,762
1999 .......................... 444,683 455,669 471,095 487,120
2000 .......................... 512,891
All durable manufacturing:
1995 .......................... 445,753 444,851 452,811 463,942
1996 .......................... 472,216 479,721 490,855 498,350
1997........................... 503,186 514,561 526,232 531,385
1998 .......................... 538,786 533,448 544,116 552,638
1999 .......................... 559,531 569,613 585,370 589,468
2000 .......................... 611,553
(1) Revised.
TABLE 3. PART B--QUARTERLY FINANCIAL REPORT FOR MANUFACTURING
CORPORATIONS--SEASONALLY ADJUSTED
After-Tax Profits(1)
Industry Group and Year Q1 Q2 Q3 Q4
(million dollars)
All manufacturing:
1995 .......................... 52,977 52,023 49,460 43,722
1996 .......................... 51,480 54,194 61,261 57,975
1997 .......................... 61,111 62,415 61,728 59,211
1998 .......................... 75,200 50,252 60,585 48,318
1999 .......................... 60,488 62,438 66,862 68,543
2000 .......................... 76,287
All nondurable manufacturing:
1995 .......................... 25,923 28,339 27,753 21,810
1996 .......................... 28,076 28,656 32,255 29,799
1997 .......................... 33,431 31,357 30,576 27,741
1998 .......................... 29,797 29,713 30,631 16,436
1999 .......................... 26,485 27,522 30,865 30,200
2000 .......................... 37,313
All durable manufacturing:
1995 .......................... 27,054 23,684 21,707 21,912
1996 .......................... 23,404 25,538 29,006 28,176
1997 .......................... 27,680 31,058 31,152 31,470
1998 .......................... 45,403 20,539 29,954 31,882
1999 .......................... 34,003 34,916 35,997 38,343
2000 .......................... 38,974
(1) Revised.
ORDER & RELEASE INFORMATION
[Economic Indicator Release Schedule]
Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade
First 2000 July 12, 2000
Second 2000 September 11, 2000 October 12, 2000
Third 2000 December 12, 2000
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Revised Monday, 01-Mar-2004 08:58:54 EST.
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