Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations

UNITED STATES BUREAU OF THE CENSUS

Economic and Statistics Administration, U.S. Department of Commerce

FOURTH QUARTER 2005 ADVANCE DATA FROM THE QUARTERLY FINANCIAL REPORT FOR U.S. MANUFACTURING, MINING, AND TRADE CORPORATIONS

APRIL 2006-------------------Released 10 a.m. (EDT), Tuesday, April 4, 2006 (CB06-48)
Contact: Yolando St.George (301) 763-6600 or John Seabold (301) 763-3386.

e-mail: csd.qfr@census.gov
Press Release (pdf)| Availability | Order & Release | QFR Program |

CHART 1:

CHART 2:
[Manufacturing Profits Per Dollar of Sales]
Seasonally Adjusted After-Tax Profits and Sales

Manufacturing Corporations Manufacturing Corporations Seasonally adjusted after-tax profits of U.S. manufacturing corporations totaled $102.8 billion in the fourth quarter 2005, the U.S. Census Bureau reported. Fourth quarter 2005 after-tax profits were down $7.1 (+/-1.4) billion from the $109.8 billion recorded in the previous quarter. Fourth quarter 2005 after-tax profits were up $10.0 (+/-1.5) billion from the $92.7 billion recorded in the same quarter a year ago.

Seasonally adjusted sales for these manufacturers totaled $1,406.5 billion for the quarter, not statistically different from the $1,405.5 billion recorded in the third quarter 2005, and up $129.3 (+/-8.9) billion from the $1,277.2 billion recorded in the fourth quarter 2004.

After-tax profits averaged 7.3 cents per dollar of sales for the quarter, 7.8 cents last quarter, and 7.3 cents a year earlier (not a statistically significant change).

Nondurable Goods Manufacturers Nondurable goods manufacturers' after-tax profits in the fourth quarter 2005 were $65.0 billion, not statistically different from the $64.8 billion recorded in the previous quarter, and up $14.0 (+/-0.9) billion from the $51.0 billion in the fourth quarter 2004.

Seasonally adjusted sales for the quarter were $709.3 billion, not statistically different from the $715.3 billion recorded in the prior quarter, and up $85.2 (+/-6.6) billion from the $624.2 billion in the fourth quarter 2004.

After-tax profits averaged 9.2 cents per dollar of sales for the quarter, 9.1 cents last quarter, and 8.2 cents a year earlier.

Durable Goods Manufacturers Fourth quarter 2005 seasonally adjusted after-tax profits for durable goods manufacturers were $37.8 billion, down $7.2 (+/-1.1) billion from the $45.0 billion recorded in the previous quarter, and down $4.0 (+/-1.1) billion from the $41.8 billion in the fourth quarter 2004.

Seasonally adjusted sales for the quarter were $697.1 billion, not statistically different from the $690.2 billion recorded in the previous quarter, and up $44.2 (+/-6.7) billion from the $653.0 billion recorded in the fourth quarter 2004.

After-tax profits averaged 5.4 cents per dollar of sales for the quarter, 6.5 cents last quarter, and 6.4 cents a year earlier.

Unadjusted After-Tax Profits and Sales

Manufacturing Corporations Fourth quarter 2005 unadjusted after-tax profits for U.S. manufacturing corporations were $98.5 billion, up $10.1 (+/-1.5) billion over the $88.4 billion recorded in the same quarter a year ago. This overall improvement was mainly due to higher domestic operating profits and equity earnings. When compared to the third quarter 2005 after-tax profits of $108.1 billion, the fourth quarter 2005 after-tax profits were down $9.5 (+/-1.4) billion. Unadjusted sales for the fourth quarter 2005 were $1,420.8 billion, up $132.3 (+/-8.9) billion from the $1,288.5 billion in the same quarter a year ago, and up $14.0 (+/-9.3) billion from the prior quarter sales of $1,406.9 billion. After-tax profits per dollar of sales averaged 6.9 cents this quarter, 6.9 cents in the fourth quarter 2004 (not a statistically significant change), and 7.7 cents last quarter.

Nondurable Goods Manufacturers Fourth quarter 2005 nondurable goods manufacturers' unadjusted after-tax profits of $63.2 billion were up $14.0 (+/-0.9) billion from the $49.2 billion recorded in the fourth quarter 2004. Chemical products reported an increase of $8.6 (+/-0.6) billion, and petroleum and coal products reported an increase of $4.0 (+/-0.1) billion, mainly due to increases in both domestic earnings and equity earnings. Beverage and tobacco's increase of $1.0 (+/-0.1) billion was mainly due to higher domestic operating profits and equity earnings. Plastics and rubber, printing, paper products, and apparel and leather's changes were not statistically significant. Unadjusted sales for the fourth quarter 2005 were $714.1 billion, up $85.8 (+/-6.6) billion from the $628.3 billion in the same quarter a year ago, but down $8.5 (+/-7.1) billion from the prior quarter sales of $722.6 billion. After-tax profits per dollar of sales averaged 8.9 cents this quarter, 7.8 cents in the fourth quarter 2004 and 9.1 cents last quarter.

When compared to the third quarter 2005 after-tax profits of $65.4 billion, the fourth quarter 2005 after-tax profits were down $2.2 (+/-0.9) billion. Paper products' decline of $1.6 (+/-0.1) billion was mainly due to lower domestic operating profits and equity earnings. Petroleum products' increase of $1.7 (+/-0.2) billion came mainly from equity earnings. Chemical products' overall change was not statistically significant as the increase of $3.5 (+/-0.1) billion in basic chemicals and $1.7 (+/-0.2) billion in all other chemicals, was offset by the decrease of $5.3 (+/-0.6) billion in the pharmaceutical products. The decreases in after-tax profits in the plastics and rubber, apparel and leather, beverage and tobacco, textiles, and printing industries were modest.

Durable Goods Manufacturers Fourth quarter 2005 durable goods manufacturers' unadjusted after- tax profits of $35.3 billion were down $3.9 (+/-1.1) billion from the $39.2 billion recorded in the fourth quarter 2004. When compared to the fourth quarter last year, results were mixed within the industry categories. The decline in domestic operating profits in motor vehicles and parts contributed to the decrease of $3.9 (+/-0.3) billion in the transportation equipment industry. Electrical equipment and appliances also reported a decline, $2.2 (+/-0.3) billion, mainly from decreased domestic nonoperating income and equity income. Machinery products reported an increase of $1.8 (+/-0.3) billion in domestic operations. Computer and electronics, wood products, and miscellaneous manufacturing's change in after- tax profits were not statistically significant. Unadjusted sales for the fourth quarter 2005 were $706.7 billion, up $46.5 (+/-6.7) billion from the $660.2 billion in the same quarter a year ago, and up $22.5 (+/-8.0) billion from the prior quarter sales of $684.3 billion. After-tax profits per dollar of sales averaged 5.0 cents this quarter, 5.9 cents in the fourth quarter 2004 and 6.2 cents last quarter. When compared to the third quarter 2005 after-tax profits of $42.7 billion, the fourth quarter 2005 after-tax profits were down $7.4 (+/-1.1) billion. Fabricated metals' decrease of $1.9 (+/-0.4) billion was mainly due to decreases in both domestic earnings and equity earnings. Nonmetallic mineral products reported a decrease of $2.4 (+/-0.2) billion mainly from declining operating profits and from nonrecurring charges. Electrical equipment and appliances' decrease of $1.9 (+/-0.2) billion resulted from domestic and equity earnings. Motor vehicles and parts back-to-back domestic operating losses contributed to the decline in transportation equipment's after-tax profit of $1.1 (+/-0.3) billion. Computer and electronics reported a modest increase of $0.9 (+/-0.4) billion mainly due to domestic operating income.

Mining Corporations Fourth quarter 2005 unadjusted after-tax profits for mining corporations with assets of $50 million and over, at $11.3 billion, were up $4.3 (+/-0.1) billion from the $7.0 billion recorded in the fourth quarter 2004. Unadjusted sales for the fourth quarter 2005 were $41.4 billion, up $8.0 (+/-0.2) billion from the $33.4 billion in the same quarter a year earlier. After-tax profits per dollar of sales averaged 27.2 cents this quarter, compared to the 20.9 cents in the fourth quarter 2004.

Wholesale Trade Corporations Fourth quarter 2005 unadjusted after-tax profits for wholesale trade corporations with assets of $50 million and over, at $10.5 billion, were up $1.5 (+/-0.1) billion from the $9.0 billion recorded in the fourth quarter 2004. Unadjusted sales for the fourth quarter 2005 were $434.2 billion, up $36.3 (+/-5.4) billion from the $398.0 billion in the same quarter a year earlier. After-tax profits per dollar of sales averaged 2.4 cents this quarter, compared to the 2.3 cents in the fourth quarter 2004.

Retail Trade Corporations Fourth quarter 2005 unadjusted after-tax profits for retail trade corporations with assets of $50 million and over, at $16.2 billion, were down $0.8 (+/-0.2) billion from the $17.0 billion recorded in the fourth quarter 2004. Unadjusted sales for the fourth quarter 2005 were $466.3 billion, up $9.6 (+/-3.0) billion from the $456.7 billion in the same quarter a year earlier. After-tax profits per dollar of sales averaged 3.5 cents this quarter, compared to the 3.7 cents in the fourth quarter 2004.

NOTE These advance data, based on quarterly financial reports from approximately 8,600 corporations, were released today from the Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations – Fourth quarter 2005 (QFR-05-4).

SAMPLING 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 (+/-0.2) cents", appearing in the text, indicates the range (+2.3 to +2.7 cents) in which the actual change is likely to have occurred. The range given for the change is a 90% 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 at the 90% confidence level. The quarterly publication includes more detailed explanations of confidence intervals and sampling variability, along with additional measures of sampling variability.

DATA AVAILABILITY This press release can be viewed today in page image format (.pdf) at the internet website http://www.census.gov/csd/qfr. More detailed information on U.S. Manufacturing, Mining, and Wholesale and Retail Trade Corporations is available for downloading at our website under "QFR Products: Publication". The publication includes statements of income and retained earnings, balance sheets, and related financial and operating ratios. Data presented are classified by industry and asset size.

First quarter 2006 advance data for U.S Manufacturing, Mining and Wholesale Trade Corporations are scheduled for release on June 12, 2006, for U.S. Retail Trade Corporations, July 11, 2006.

AVAILABILITY:

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 on the Internet (http://www.census.gov/csd/www/qfr.html).

Questions regarding this report (or program) should be directed to Yolando St.George (301) 763-6600 or John Seabold (301) 763-3386.

TABLE 1. PART A--ALL U.S. MANUFACTURING CORPORATIONS

                                           
                                               Seasonally Adjusted       
                                                   
                                                 4Q        3Q        4Q
                                               2005      2005(1)   2004(1)    
Rate of return (after taxes):
 Cents per dollar of sales ................     7.3       7.8       7.3
 Percent on equity (annual rate) ..........      NA        NA        NA    

                                                   (million dollars) 
Sales ....................................1,406,487 1,405,452 1,277,167
 Income after income taxes ................ 102,760   109,823    92,737 
 Dividends paid (cash) ....................      NA        NA        NA

(1)Revised.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-4, April 2006. U.S. Census Bureau, April 2006.

TABLE 1. PART B--ALL U.S. MANUFACTURING CORPORATIONS

                                                    Unadjusted   
                                                       
                                                 4Q        3Q        4Q    
                                               2005      2005(1)   2004(1)    
Rate of return (after taxes):
 Cents per dollar of sales ................     6.9       7.7       6.9
 Percent on equity (annual rate) ..........    16.0      17.7      15.3    
                                                  
                                                   (million dollars) 
Sales ....................................1,420,841 1,406,857 1,288,495
 Income after income taxes ................  98,522   108,064    88,433
 Dividends paid (cash) ....................  45,401    45,649    40,346

(1)Revised.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-4, April 2006. U.S. Census Bureau, April 2006.

TABLE 2. PART A--U.S. MANUFACTURING CORPORATIONS SEASONALLY ADJUSTED SALES(1)

 
 
                                                  Sales(2)
                                                         
         Industry Group and Year        Q1       Q2        Q3        Q4
                                              (million dollars)
All manufacturing:
    1995 ..........................  871,356   872,836   883,536   899,641
    1996 ..........................  914,279   932,772   948,249   961,207
    1997 ..........................  965,811   972,500   986,668   995,011
    1998 ..........................  989,980   981,791   985,913   993,415
    1999 ..........................1,003,196 1,026,649 1,047,975 1,071,247  
    2000 ..........................1,120,607 1,128,190 1,145,112 1,120,268
    2001 ..........................1,115,917 1,094,116 1,059,255 1,026,888
    2002 ..........................1,025,510 1,049,563 1,065,079 1,074,905
    2003 ..........................1,102,740 1,074,374 1,106,147 1,110,286
    2004 ..........................1,183,075 1,222,909 1,248,722 1,277 167
    2005 ..........................1,309,593 1,342,088 1,405,452 1,406,487
All nondurable manufacturing:
    1995 ..........................  425,660   427,748   430,849   435,783
    1996 ..........................  442,199   452,565   457,726   462,822
    1997 ..........................  463,170   456,752   461,364   463,186
    1998 ..........................  452,439   446,248   443,671   439,440
    1999 ..........................  445,879   452,946   461,284   474,641
    2000 ..........................  507,746   514,855   527,979   502,810
    2001 ..........................  509,094   506,354   489,034   469,654
    2002 ..........................  464,882   478,976   497,752   513,187
    2003 ..........................  542,138   514,590   533,661   523,694
    2004 ..........................  572,285   593,742   605,749   624,184
    2005...........................  649,302   669,045   715,285   709,339
All durable manufacturing:
    1995 ..........................  445,696   445,088   452,687   463,858
    1996...........................  472,080   480,207   490,522   498,385
    1997 ..........................  502,641   515,748   525,304   531,825
    1998 ..........................  537,541   535,543   542,242   553,976
    1999 ..........................  557,316   573,703   586,691   596,606
    2000 ..........................  612,862   613,335   617,133   617,458
    2001 ..........................  606,824   587,762   570,221   557,233
    2002 ..........................  560,628   570,587   567,326   561,719
    2003 ..........................  560,601   559,783   572,486   586,592
    2004 ..........................  610,789   629,167   642,973   652,983
    2005 ..........................  660,291   673,043   690,167   697,148

(1) Data after fourth quarter 2000 are presented on the North American Industry Classificaton System basis. Data prior to fourth quarter 2000 are presented on the Standard Industrial Classification system basis.

(2)Revised.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-4, April 2006. U.S. Census Bureau, April 2006.

TABLE 2. PART B--U.S. MANUFACTURING CORPORATIONS SEASONALLY ADJUSTED NET INCOME AFTER-TAX(1)

 
                                            After-Tax Profits(2)
                                              
         Industry Group and Year        Q1        Q2        Q3        Q4
                                               (million dollars)
All manufacturing:
    1995 ..........................   52,846    51,878    49,380    44,189
    1996 ..........................   51,311    53,837    61,249    58,692
    1997 ..........................   60,881    61,675    61,901    60,277
    1998 ..........................   74,911    48,824    61,224    49,679
    1999 ..........................   60,200    62,971    67,253    67,537
    2000 ..........................   77,750    70,340    74,881    47,234
    2001 ..........................      616    15,324    12,382     7,765 
    2002 ..........................   25,782    37,168    42,910    34,106
    2003 ..........................   59,563    48,866    55,251    73,073
    2004 ..........................   76,889    86,105    92,085    92,737
    2005 ..........................   95,085    98,531   109,823   102,760
All nondurable manufacturing:
    1995 ..........................   25,873    28,199    27,600    22,236
    1996 ..........................   28,024    28,318    32,144    30,426
    1997 ..........................   33,384    30,686    30,568    28,659
    1998 ..........................   29,767    28,466    30,988    17,518
    1999 ..........................   26,504    28,745    31,676    30,636
    2000 ..........................   37,564    38,264    37,688    28,851
    2001 ..........................   31,814    33,663    27,757    19,033
    2002 ..........................   26,926    28,453    31,733    31,404
    2003 ..........................   43,861    33,635    30,577    40,706
    2004 ..........................   41,212    46,915    52,380    50,951
    2005 ..........................   58,463    58,072    64,827    64,979
All durable manufacturing:
    1995 ..........................   26,973    23,678    21,780    21,953
    1996 ..........................   23,287    25,520    29,104    28,267
    1997 ..........................   27,496    30,989    31,333    31,618
    1998 ..........................   45,144    20,358    30,236    32,162
    1999 ..........................   33,697    34,226    35,577    36,902
    2000 ..........................   40,186    32,076    37,193    18,383
    2001 ..........................  (31,198)  (18,338)  (15,374)  (11,268)
    2002 ..........................   (1,145)    8,715    11,177     2,702
    2003 ..........................   15,701    15,231    24,674    32,367
    2004 ..........................   35,677    39,190    39,706    41,786
    2005 ..........................   36,622    40,459    44,996    37,781

(2)Revised.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-4, April 2006. U.S. Census Bureau, April 2006.

TABLE 3. PART A--U.S. MANUFACTURING, MINING, AND TRADE CORPORATIONS UNADJUSTED SALES AND PROFITS

                                                      Sales
                                                        
                                                  4Q        3Q        4Q 
                Industry Group                  2005      2005(2)   2004(2)    
                                                   (million dollars)
All manufacturing corporations(3)..........1,420,841 1,406,857 1,288,495

All nondurable goods.......................  714,111   722,590   628,295
  Food.....................................  114,489   107,314   108,817
  Beverage and tobbaco products............   36,876    37,048    34,278
  Textiles mills and textile product mills.   12,193    12,705    12,045 
  Apparel and leather products.............   22,658    23,010    22,336
  Paper ...................................   37,777    38,247    37,228
  Printing and related support activities..   17,766    17,206    17,353
  Petroleum and coal products..............  272,315   291,063   208,127
  Chemicals ...............................  157,552   155,183   149,834
   Basic chemicals, resins, and               
    synthetics(4)..........................   49,942    48,807    45,125
   Pharmaceuticals and medicines(4)........   64,613    63,272    64,785
   All other chemicals(4)..................   42,997    43,104    39,924
  Plastics and rubber products.............   42,487    40,814    38,275
                                                                        
All durable manufacturing..................  706,730   684,267   660,200
  Wood products............................   20,078    20,709    18,119
  Nonmetallic mineral products.............   30,214    33,592    25,507
  Primary metals...........................   49,634    47,507    44,452
   Iron, steel, and ferroalloys(4).........   24,054    23,293    23,733
   Nonferrous metals(4)....................   19,914    18,727    16,212
   Foundries(4)............................    5,666     5,487     4,506
  Fabricated metal products................   61,010    61,772    56,513
  Machinery ...............................   81,613    81,730    73,225
  Computer and electronic products.........  143,379   137,691   139,786
   Computer and peripheral equipment(4)....   46,195    41,677    44,627
   Communications equipment(4).............   28,585    27,591    27,035
   All other electronic products(4)........   68,598    68,423    68,125
  Electrical equipment, appliances and
   components..............................   50,470    48,031    47,795
  Transportation equipment ................  220,027   203,794   209,678
   Motor vehicles and parts(4).............  154,437   144,341   149,745
   Aerospace products and parts(4).........   53,019    47,087    50,095
  Furniture and related products...........   17,606    17,177    15,036
  Miscellaneous manufacturing..............   32,700    32,263    30,088

All mining(3)..............................   41,400    38,264    33,364
All wholesale trade(3).....................  434,237   419,236   397,986
All retail trade(3)........................  466,311   445,043   456,698

(1)Operating profits are profits before nonoperating income and expense items and income taxes.

(2)Revised.

(3)Manufacturing data are the quarterly results of companies within that division with assests over $250,000; whereas, data for mining and trade corporatons represent the quarterly results of companies with assets over $50 million.

(4)Included in major industry above.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-4, April 2006. U.S. Census Bureau, April 2006.

TABLE 3. PART B--U.S. MANUFACTURING, MINING, AND TRADE CORPORATIONS UNADJUSTED SALES AND PROFITS

 
                                                 Operating Profits(1)
                                                  4Q        3Q        4Q
                Industry Group                  2005      2005(2)   2004(2)   
                                                   (million dollars)
All manufacturing corporations(3)..........   80,359    92,313    74,572

All nondurable goods.......................   46,603    52,639    43,369
  Food.....................................    7,218     6,791     7,242
  Beverage and tobbaco products............    5,497     5,955     4,918
  Textiles mills and textile product mills.      587       828       328 
  Apparel and leather products.............    1,739     2,330     1,943
  Paper ...................................    1,749     3,230     1,495
  Printing and related support activities..    1,102     1,250       984
  Petroleum and coal products..............   17,183    17,961    16,333  
  Chemicals ...............................    9,285    11,799     8,353
   Basic chemicals, resins, and               
    synthetics(4)..........................    1,987     2,163       344
   Pharmaceuticals and medicines(4)........    4,857     5,738     5,376
   All other chemicals(4)..................    2,441     3,898     2,633
  Plastics and rubber products.............    2,243     2,495     1,774
                                                                        
All durable manufacturing..................   33,756    39,674    31,203
  Wood products............................      986     1,511       970
  Nonmetallic mineral products.............    2,694     4,165     1,736
  Primary metals...........................    4,143     3,836     3,616
   Iron, steel, and ferroalloys(4).........    2,248     1,933     2,720
   Nonferrous metals(4)....................    1,483     1,551       906
   Foundries(4)............................      413       353       (10)
  Fabricated metal products................    4,321     6,045     3,248
  Machinery ...............................    5,813     6,453     3,582
  Computer and electronic products.........    9,316     8,796     7,708
   Computer and peripheral equipment(4)....    1,936     1,487     1,724
   Communications equipment(4).............    2,296     2,251       749
   All other electronic products(4)........    5,084     5,057     5,235
  Electrical equipment, appliances and
   components..............................    3,891     3,421     3,506
  Transportation equipment ................   (1,729)      109     2,647
   Motor vehicles and parts(4).............   (6,750)   (5,108)   (1,610)
   Aerospace products and parts(4).........    3,505     3,695     3,333
  Furniture and related products...........    1,080     1,408       673
  Miscellaneous manufacturing..............    3,242     3,931     3,517

All mining(3)..............................   12,579    11,119     7,874
All wholesale trade(3).....................   14,111    11,585    12,735
All retail trade(3)........................   23,971    19,694    25,825

(1)Operating profits are profits before nonoperating income and expense items and income taxes.

(2)Revised.

(4)Included in major industry above.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-4, April 2006. U.S. Census Bureau, April 2006.

TABLE 3. PART C--U.S. MANUFACTURING, MINING, AND TRADE CORPORATIONS UNADJUSTED SALES AND PROFITS

 
                                                 After-Tax Profits
                                                  4Q        3Q        4Q 
                Industry Group                  2005      2005(2)   2004(2)   
                                                   (million dollars)
All manufacturing corporations(3)..........   98,522   108,064    88,433

All nondurable goods.......................   63,240    65,414    49,212
  Food.....................................    5,539     5,278     5,334
  Beverage and tobbaco products............    5,890     6,492     4,900
  Textiles mills and textile product mills.      284       554       123
  Apparel and leather products.............    1,338     1,965     1,401
  Paper ...................................      338     1,899       433    
  Printing and related support activities..      409       663       393
  Petroleum and coal products..............   26,173    24,517    22,150
  Chemicals ...............................   22,030    22,139    13,406
   Basic chemicals, resins, and               
    synthetics(4)..........................    5,186     1,670       910
   Pharmaceuticals and medicines(4)........   11,831    17,159     5,126
   All other chemicals(4)..................    5,013     3,310     7,370
  Plastics and rubber products.............    1,239     1,907     1,073
                                                                        
All durable manufacturing..................   35,282    42,650    39,221
  Wood products............................      739       839       541
  Nonmetallic mineral products.............       35     2,391       772
  Primary metals...........................    3,207     3,029     3,624 
   Iron, steel, and ferroalloys(4).........    1,725     1,436     2,285 
   Nonferrous metals(4)....................    1,183     1,354     1,436 
   Foundries(4)............................      299       240       (97) 
  Fabricated metal products................    2,748     4,681     2,197
  Machinery ...............................    4,736     5,340     2,923
  Computer and electronic products.........   13,989    13,139    13,710
   Computer and peripheral equipment(4)....    5,997     4,410     6,596
   Communications equipment(4).............    2,539     3,253     1,976
   All other electronic products(4)........    5,453     5,476     5,139
  Electrical equipment, appliances and
   components..............................    4,821     6,699     7,038
  Transportation equipment ................    1,038     2,145     4,898
   Motor vehicles and parts(4).............   (2,951)   (2,337)    1,367
   Aerospace products and parts(4).........    2,856     3,369     2,954
  Furniture and related products...........      620       866       321
  Miscellaneous manufacturing..............    3,349     3,520     3,196

All mining(3)..............................   11,272     9,632     6,973
All wholesale trade(3).....................   10,452     8,789     8,967
All retail trade(3)........................   16,245    13,076    16,999

(1)Operating profits are profits before nonoperating income and expense items and income taxes.

(2)Revised.

(4)Included in major industry above.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-4, April 2006. U.S. Census Bureau, April 2006.

TABLE 4. INCOME STATEMENT FOR U.S. RETAIL TRADE CORPORATIONS- ASSETS $50 MILLION AND OVER


                                                    4Q         3Q       4Q                              
                     Item                         2005       2005(1)   2004(1)   
                                                      (million dollars)
Net sales, receipts, and operating revenues .. 466,311    445,043   456,698
Less: Depreciation, depletion and
        amortization .........................   8,463      8,378     8,512
Less: All other operating costs and expenses . 433,877    416,970   422,361

  Income (or loss) from operations ...........  23,971     19,694    25,825

Net nonoperating income (expense) ............    (519)      (201)       85

  Income (or loss) before income taxes .......  23,452     19,494    25,910

Less: Provision for current and deferred
        domestic income taxes ................   7,208      6,418     8,910

  Income (or loss) after income taxes ........  16,245     13,076    16,999

Cash dividends charged to retained earnings      
  in current quarter .........................   2,748      2,439     2,928

  Net income retained in business ............  13,497     10,637    14,072

Retained earnings at beginning of quarter .... 244,664    242,916   234,318
Other direct credits (or charges) to retained
  earnings (net) .............................  (1,161)    (7,788)   (2,274)

  Retained earnings at end of quarter ........ 257,000    245,764   246,116

(1) Revised.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-4, April 2006. U.S. Census Bureau, April 2006.

TABLE 5. INCOME STATEMENT RATIOS FOR U.S. RETAIL TRADE CORPORATIONS- ASSETS $50 MILLION AND OVER

                                                    4Q        3Q        4Q 
                     Item                         2005      2005(1)   2004(1)    
                                                         (cents)
Net sales, receipts, and operating revenues ..   100.0     100.0     100.0
Less: Depreciation, depletion, and 
  amortization ...............................     1.8       1.9       1.9
Less: All other operating costs and expenses .    93.0      93.7      92.5 

  Income (or loss) from operations ...........     5.1       4.4       5.7

Net nonoperating income (expense) ............    (0.1)     (0.0)      0.0

  Income (or loss) before income taxes .......     5.0       4.4       5.7 

Less: Provision for current and deferred
  domestic income taxes ......................     1.5       1.4       2.0
                                                                   
  Income (or loss) after income taxes ........     3.5       2.9       3.7

(1) Revised.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-4, April 2006. U.S. Census Bureau, April 2006.

TABLE 6. OPERATING RATIOS FOR U.S. RETAIL TRADE CORPORATIONS- ASSETS $50 MILLION AND OVER

                                                    4Q        3Q        4Q 
                        Item                      2005      2005(1)   2004(1)    
                                                         (percent)
Annual rate of profit on stockholders' equity
 at end of period:
    Before income taxes ......................   25.91     22.26     31.34
    After income taxes .......................   17.95     14.93     20.56

Annual rate of profit on total assets:
    Before income taxes ......................   10.93      9.27     13.02
    After income taxes .......................    7.57      6.22      8.54

(1) Revised.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-05-4, April 2006. U.S. Census Bureau, April 2006.

ORDER & RELEASE INFORMATION

Schedule of Advance Data Release Dates--2006
[Economic Indicator Release Schedule]

Quarter         Manufacturing, Mining, and Wholesale Trade        Retail Trade
                            
             
First  2006                    June 12, 2006                    July 11, 2006
Second 2006               September 11, 2006                 October 11, 2006
Third  2006                December 12, 2006

Questions concerning this advance report should be directed to Contact: Yolando St.George (301) 763-6600 or John Seabold (301) 763-3386.

Back to Quarterly Financial Report
###
Source: U.S. Census Bureau, Company Statistics Division
Maintained by Traci Gillespie-Brown
Revised Tuesday, 04-Apr-2006 10:02:36 EDT.
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