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UNITED STATES BUREAU OF THE CENSUS

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



ADVANCE DATA FROM THE QUARTERLY FINANCIAL REPORT FOR MANUFACTURING, MINING, AND TRADE CORPORATIONS--FOURTH QUARTER 1999

------------------Released 10 a.m. (EDT), Wednesday, April 5, 2000 (CB00-55)
Contact: Ronald H. Lee (301) 457-3343 or Frank Hartman (301) 457-3379.

Availability | Order & Release | QFR Program |


Except where noted, all figures in text and tables are not seasonally adjusted.
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.


CHART 1:
[CHART 1: Manufacturing After-Tax Profits]
CHART 2:
[Manufacturing Profits Per Dollar of Sales]

Manufacturing corporations` seasonally adjusted after-tax profits averaged 6.6 cents per dollar of sales for the fourth quarter of 1999, up 0.2 (+/-0.1) cents from the third quarter of 1999. The Commerce Department`s Census Bureau also reported that on an unadjusted basis, after-tax profits for the fourth quarter averaged 6.1 cents per dollar of sales, down 0.4 (+/-0.1) cents from the preceding quarter, but up 1.7 (+/-0.2) cents from the same quarter in 1998.

For the fourth quarter of 1999, manufacturers` seasonally adjusted after-tax profits were $70.0 billion, up $2.5 (+/-1.3) billion from last quarter. On an unadjusted basis, fourth quarter after-tax profits were $65.8 billion, down $2.5 (+/-1.3) billion from last quarter, but up $22.0 (+/-1.5) billion from the same quarter a year ago.

Unadjusted durable manufacturers` after-tax profits for the fourth quarter of 1999 were $36.0 billion, up $1.2 or 3.4 percent (+/-2.8%) from the third quarter of 1999. The underlying industry categories reported mixed results. Electrical machinery, instruments, and motor vehicles reported increased earnings. Electrical machinery`s $3.0 (+/-0.5) billion increase was due to higher operating profits, dividend income, and other nonoperating income, and gains from asset sales. Motor vehicles` $1.0 (+/-0.1) billion increase was due primarily to higher operating profits and dividend income. Instruments` $1.1 (+/-0.3) billion improvement resulted from higher equity earnings and gains from asset sales. Fabricated metals and stone, clay, and glass reported declines of $1.7 (+/-0.3) and $0.7 (+/-0.2) billion, respectively, which were due primarily to lower operating profits. Also reporting statistically significant decreases were lumber, miscellaneous manufacturing, and nonferrous metals. Iron and steel, machinery, aircraft, and furniture showed no statistically significant changes.

When compared to the fourth quarter of 1998, unadjusted durable manufacturers` after-tax profits were up $6.9 billion or 23.5 percent (+/-4.4%). Most of the increase came from electrical machinery, instruments, stone, clay and glass, and motor vehicles. Electrical machinery`s $2.6 (+/-0.5) billion improvement was due to increases in other nonoperating and dividend income, and gains from asset sales. Instrument`s $2.1 (+/-0.5) billion increase was due to higher equity earnings, other nonoperating income, and gains from asset sales. Stone, clay and glass` increase of $1.4 (+/-0.1) billion was due primarily to the absence of significant nonrecurring charges. Motor vehicles` increase of $0.8 (+/-0.1) billion was due chiefly to improved equity earnings. Aircraft and furniture were the only two categories reporting statistically significant decreases. Iron and steel, nonferrous metals, fabricated metals, machinery, and lumber showed no statistically significant changes.

Unadjusted nondurable manufacturers` after-tax profits for the fourth quarter of 1999 were $29.8 billion, down $3.7 billion or 11.0 percent (+/-2.5%) when compared to the third quarter of 1999. Most underlying industry categories were down. Petroleum`s $1.5 (+/-0.1) billion decrease was due primarily to lower operating profits and significant restructuring and asset impairment charges. Drugs` $1.1 (+/-0.4) billion decrease was due to decreased operating profits and equity earnings more than offsetting increases in dividend and other nonoperating income. Residual of chemicals, apparel, and industrial chemicals also reported statistically significant declines. Printing and paper reported statistically significant increases. Printing`s $0.6 (+/-0.3) billion increase was due primarily to gains from asset sales. Food, textiles and rubber showed no statistically significant changes.

When compared to the same quarter in 1998, unadjusted nondurable manufacturers` after-tax profits were up $15.2 (+/-1.0) billion. Most underlying industry categories were up. Petroleum`s $8.8 (+/-0.1) billion increase, the largest of the group, was due primarily to improvements in operating profits and equity earnings and lower nonrecurring charges in the fourth quarter of 1999. Food`s $3.3 (+/-0.3) billion increase was due primarily to the absence of significant nonrecurring charges. Paper`s $1.9 (+/-0.2) billion increase was due primarily to higher operating profits. Industrial chemicals and residual of chemicals also reported statistically significant increases. Drugs and textiles reported statistically significant decreases. Apparel, printing, and rubber showed no statistically significant changes.

Manufacturers` seasonally adjusted sales for the fourth quarter of 1999 were $1,064.1 billion, up $15.7 billion or 1.5 percent (+/-1.0%) from last quarter. On an unadjusted basis, sales were $1,083.0 billion, up $35.3 billion or 3.4 percent (+/-1.0%) from last quarter, and up $76.6 billion or 7.6 percent (+/-1.1%) from the fourth quarter of 1998.

Seasonally adjusted durable sales were $581.7 billion showing no statistically significant change from last quarter. Seasonally adjusted nondurable sales were $482.4 billion, up $12.3 billion or 2.6 percent (+/-1.4%) from last quarter. Unadjusted durable sales were $593.4 billion, up $22.0 billion or 3.9 percent (+/-1.4%) when compared to the third quarter of 1999. On a same quarter a year ago basis, unadjusted durable sales were up $31.5 billion or 5.6 percent (+/-1.4%). Unadjusted nondurable sales were $489.6 billion, up $13.3 billion or 2.8 percent (+/-1.4%) from last quarter, and up $45.2 billion or 10.2 percent (+/-1.5%) from a year ago.

Also included in this release are fourth quarter 1999 data for large mining and wholesale and retail 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 Fourth quarter 1999 (QFR-99-4). 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. First quarter 2000 advance data are scheduled for release on June 12, 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.


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 formatDownload Adobe Acrobat Reader (.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 H. Lee (301) 457-3343 or Frank Hartman (301) 457-3379.



TABLE 1. PART A--QUARTERLY FINANCIAL REPORT FOR MANUFACTURING CORPORATIONS

                                                  Seasonally Adjusted
                                                 4Q        3Q        4Q    
                                               1999      1999(1)   1998(1) 
Rate of return (after taxes):
 Cents per dollar of sales ................     6.6       6.4       4.9
 Percent on equity (annual rate) ..........      NA        NA        NA    

                                                   (million dollars) 
Sales ....................................1,064,094 1,048,403   988,556
 Income after income taxes ................  69,960    67,439    48,189
 Dividends paid (cash) ....................      NA        NA        NA

(1) Revised.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-99-4, April 2000. U.S. Bureau of the Census,


TABLE 1. PART B--QUARTERLY FINANCIAL REPORT FOR MANUFACTURING CORPORATIONS

 
                                                       Unadjusted
                                                 4Q        3Q        4Q    
                                               1999      1999(1)   1998(1) 
Rate of return (after taxes):
 Cents per dollar of sales ................     6.1      6.5       4.4
 Percent on equity (annual rate) ..........    16.2     17.4      11.8    
                                                  
                                                   (million dollars) 
Sales ....................................1,083,027 1,047,700 1,006,398
 Income after income taxes ................  65,806    68,283    43,785
 Dividends paid (cash) ....................  26,701    23,711    34,142
(1) Revised.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-99-4, April 2000. U.S. Bureau of the Census,


TABLE 2. PART A--SALES AND PROFITS OF CORPORATIONS ENGAGED IN MANUFACTURING, MINING, AND TRADE--NOT SEASONALLY ADJUSTED


                                                         Sales
                                                 4Q        3Q        4Q 
                Industry Group                 1999      1999(1)   1998(1)
                                                   (million dollars)
All manufacturing corporations ............1,083,027 1,047,700 1,006,398

Nondurable goods ..........................  489,590   476,306   444,433
  Food and tobacco.........................  127,478   121,745   123,574
  Textiles ................................   14,849    15,603    14,862 
  Apparel(2) ..............................   18,678    20,194    16,875
  Paper ...................................   44,405    44,302    41,031
  Printing ................................   50,866    49,033    48,597
  Chemicals ...............................  116,864   115,080   112,187
   Industrial chemicals and synthetics(3)..   38,529    37,255    37,060
   Drugs(3) ...............................   42,291    40,168    39,031
   Residual of chemicals(3)................   36,044    37,657    36,095
  Petroleum ...............................   87,746    80,529    57,745
  Rubber ..................................   28,704    29,820    29,564

Durable goods .............................  593,437   571,394   561,965
  Stone, clay, and glass ..................   21,332    22,839    19,713
  Primary metals ..........................   38,321    37,197    37,429
   Iron and steel(3) ......................   19,604    18,721    17,885
   Nonferrous metals(3)....................   18,717    18,476    19,544
  Fabricated metals .......................   45,268    47,228    44,496
  Machinery ...............................  115,835   114,618   110,783
  Electrical machinery ....................  124,421   118,603   119,495
  Transportation Equipment ................  172,117   155,563   155,644
   Motor vehicles and equipment(3) ........  117,854   107,738   102,725
   Aircraft, guided missiles, and parts(3).   41,809    36,895    43,411
  Instruments .............................   30,994    30,103    29,697
  Other durable goods .....................   45,150    45,243    44,708
   Lumber and wood products(3) ............   17,996    19,171    16,690
   Furniture and fixtures(3) ..............   16,939    17,000    17,268
   Miscellaneous manufacturing(3) .........   10,215     9,072    10,750

Mining(4) .................................   19,143    17,253    17,297
Wholesale trade(4) ........................  322,434   299,922   284,211
Retail trade(4) ...........................  343,976   299,949   315,535
(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.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-99-4, April 2000. U.S. Bureau of the Census,


TABLE 2. PART B--SALES AND PROFITS OF CORPORATIONS ENGAGED IN MANUFACTURING, MINING, AND TRADE--NOT SEASONALLY ADJUSTED

                                                    Operating Profits*
                                                 4Q        3Q        4Q
                Industry Group                 1999      1999(1)   1998(1)
                                                   (million dollars)
All manufacturing corporations ............   75,692    83,837    68,637

Nondurable goods ..........................   36,125    43,456    31,637
  Food and tobacco.........................   11,301    11,762    11,387
  Textiles ................................      757       754       789
  Apparel(2) ..............................      810     1,844       330
  Paper ...................................    4,217     4,116     2,326
  Printing ................................    5,849     5,754     5,368
  Chemicals ...............................    7,033    11,007     9,810 
   Industrial chemicals and synthetics(3)..      828     2,916     2,077 
   Drugs(3) ...............................    3,138     4,550     4,262 
   Residual of chemicals(3)................    3,066     3,541     3,470 
  Petroleum ...............................    4,628     6,360      (150)
  Rubber ..................................    1,529     1,859     1,778

Durable goods .............................   39,567    40,382    37,000 
  Stone, clay, and glass ..................    2,104     3,040     2,045
  Primary metals ..........................    1,503     1,769     1,815
   Iron and steel(3) ......................      555       607       805
   Nonferrous metals(3)....................      948     1,162     1,010
  Fabricated metals .......................    3,490     4,501     2,941
  Machinery ...............................    5,836     5,446     5,405
  Electrical machinery ....................   11,685    10,502    10,994
  Transportation Equipment ................    9,293     8,214     7,834
   Motor vehicles and equipment(3) ........    4,886     4,009     4,632 
   Aircraft, guided missiles, and parts(3).    3,383     3,114     2,871
  Instruments .............................    2,994     3,359     2,927
  Other durable goods .....................    2,662     3,551     3,039
   Lumber and wood products(3) ............    1,086     1,569       800
   Furniture and fixtures(3) ..............    1,034     1,341     1,313
   Miscellaneous manufacturing(3) .........      542       641       926

Mining(4) .................................    2,004     1,621       201 
Wholesale trade(4) ........................    8,762     8,207     5,946
Retail trade(4) ...........................   20 957    14,119    18,778
* 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.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-99-4, April 2000. U.S. Bureau of the Census,


TABLE 2. PART C--SALES AND PROFITS OF CORPORATIONS ENGAGED IN MANUFACTURING, MINING, AND TRADE--NOT SEASONALLY ADJUSTED


                                                    After-Tax Profits
                                                 4Q        3Q        4Q 
                Industry Group                 1999      1999(1)   1998(1)
                                                   (million dollars)
All manufacturing corporations ............   65,806    68,283    43,785

Nondurable goods ..........................   29,817    33,484    14,648
  Food and tobacco ........................    7,762     7,800     4,474
  Textiles ................................      130       285       303 
  Apparel(2) ..............................      471     1,099        45
  Paper ...................................    2,343     1,901       418 
  Printing ................................    4,038     3,419     3,613
  Chemicals ...............................    8,963    11,359     8,445
   Industrial chemicals and synthetics(3)..    1,453     1,879       803 
   Drugs(3) ...............................    6,079     7,161     6,478
   Residual of chemicals(3)................    1,431     2,319     1,164
  Petroleum ...............................    5,204     6,678    (3,639)
  Rubber ..................................      907       944       991
                                            
Durable goods .............................   35,989    34,799    29,137
  Stone, clay, and glass ..................    1,303     2,042      (109)
  Primary metals ..........................      604       931       658
   Iron and steel(3) ......................       31        99        45
   Nonferrous metals(3) ...................      572       832       613
  Fabricated metals .......................    1,673     3,410     1,412
  Machinery ...............................    6,511     6,939     6,716
  Electrical machinery ....................   12,852     9,839    10,287
  Transportation equipment ................    7,861     6,904     6,860
   Motor vehicles and equipment(3) ........    5,762     4,732     4,974
   Aircraft, guided missiles, and parts(3).    1,694     1,613     1,861
  Instruments .............................    3,747     2,648     1,667
  Other durable goods .....................    1,438     2,085     1,645
   Lumber and wood products(3) ............      618     1,040       406
   Furniture and fixtures(3) ..............      629       587       807 
   Miscellaneous manufacturing(3) .........      192       459       432
                                          
Mining(4) .................................      568     1,295    (4,790) 
Wholesale trade(4) ........................    4,734     5,072     2,837
Retail trade(4) ...........................   12,062     5,960     9,872
  
(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.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-99-4, April 2000. U.S. Bureau of the Census,


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:
    1992 ..........................  704,638   717,984   729,830   737,010
    1993 ..........................  743,911   751,074   753,401   766,314
    1994 ..........................  784,929   802,888   825,150   841,431
    1995 ..........................  872,100   872,495   883,356   899,283
    1996 ..........................  915,337   932,423   948,101   960,122
    1997 ..........................  967,622   972,329   986,671   992,529
    1998 ..........................  992,667   982,179   986,611   988,556
    1999 ..........................1,001,763 1,021,727 1,048,403 1,064,094
All nondurable manufacturing:
    1992 ..........................  367,382   374,405   378,422   379,896
    1993 ..........................  382,010   382,626   379,358   381,115
    1994 ..........................  387,549   394,696   405,657   409,718
    1995 ..........................  426,037   427,663   430,702   435,675
    1996 ..........................  442,474   452,696   457,448   462,590
    1997 ..........................  463,283   457,631   460,748   462,486
    1998 ..........................  452,316   448,304   442,924   437,755
    1999 ..........................  445,753   457,217   470,100   482,359
All durable manufacturing:
    1992 ..........................  337,256   343,579   351,408   357,114
    1993 ..........................  361,901   368,448   374,043   385,199
    1994 ..........................  397,380   408,192   419,493   431,713
    1995 ..........................  446,063   444,832   452,654   463,608
    1996...........................  472,863   479,727   490,653   497,532
    1997 ..........................  504,339   514,698   525,923   530,043
    1998 ..........................  540,351   533,875   543,687   550,801
    1999 ..........................  556,010   564,510   578,303   581,735

(1) Revised.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-99-4, April 2000. U.S. Bureau of the Census,


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:
    1992 ..........................  (42,688)   24,188    25,974    14,643
    1993 ..........................   12,659    19,464    23,505    27,507   
    1994 ..........................   36,560    41,305    45,361    51,701
    1995 ..........................   53,061    52,214    49,221    43,642
    1996 ..........................   51,607    54,463    60,918    57,858
    1997 ..........................   61,334    62,722    61,271    59,083
    1998 ..........................   75,523    50,555    60,052    48,189
    1999 ..........................   60,517    62,569    67,439    69,960
All nondurable manufacturing:
    1992 ..........................   (4,166)   18,002    17,089    14 991
    1993 ..........................   12,756    15,358    11,728    15,715
    1994 ..........................   19,049    19,953    22,495    26,227
    1995 ..........................   26,003    28,412    27,643    21,734
    1996 ..........................   28,200    28,761    32,091    29,671
    1997 ..........................   33,656    31,474    30,339    27,572
    1998 ..........................   30,132    29,822    30,340    16,227
    1999 ..........................   26,685    27,657    30,951    31,222
All durable manufacturing:
    1992 ..........................  (38,522)    6,186     8 885      (348)
    1993 ..........................      (97)    4,106    11,777    11,792
    1994 ..........................   17,511    21,352    22,866    25,474
    1995 ..........................   27,058    23,802    21,578    21,908
    1996 ..........................   23,407    25,702    28,827    28,187
    1997 ..........................   27,678    31,248    30,932    31,511
    1998 ..........................   45,391    20,733    29,712    31,962
    1999 ..........................   33,832    34,912    36,488    38,738
(1) Revised.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-99-4, April 2000. U.S. Bureau of the Census,



TABLE 4. INCOME STATEMENT FOR RETAIL TRADE CORPORATIONS WITH ASSETS OF $50 MILLION AND OVER

                                                    4Q       3Q       4Q                              
                     Item                         1999     1999(1)  1998(1)
                                                      (million dollars)
Net sales, receipts, and operating revenues .. 343,976   299,949   315,535
Less: Depreciation, depletion and
        amortization .........................   6,717     6,359     5,941
Less: All other operating costs and expenses . 316,302   279,472   290,816

  Income (or loss) from operations ...........  20,957    14,119    18,778

Net nonoperating income (expense) ............ (1,565)   (3,146)   (2,822)

  Income (or loss) before income taxes .......  19,393    10,973    15,956

Less: Provision for current and deferred
        domestic income taxes ................   7,330     5,014     6,084

  Income (or loss) after income taxes ........  12,062     5,960     9,872

Cash dividends charged to retained earnings      
  in current quarter .........................   1,431     1,581     1,557

  Net income retained in business ............  10,631     4,379     8,316

Retained earnings at beginning of quarter .... 152,741   147,668   127,189
Other direct credits (or charges) to retained
  earnings (net) ............................. (2,395)   (1,174)      (478)

  Retained earnings at end of quarter ........ 160,977   150,872   135,026
 
(1) Revised.



-------------------------------------------------------------------------- TABLE 5. INCOME STATEMENT IN RATIO FORMAT FOR RETAIL TRADE CORPORATIONS WITH ASSETS OF $50 MILLION AND OVER

                                                   4Q       3Q       4Q 
                     Item                         1999     1999(1)  1998(1)
                                                         (cents)
Net sales, receipts, and operating revenues ..   100.0     100.0     100.0
Less: Depreciation, depletion, and 
  amortization ...............................     2.0       2.1       1.9
Less: All other operating costs and expenses .    92.0      93.2      92.2 

  Income (or loss) from operations ...........     6.1       4.7       6.0

Net nonoperating income (expense) ............   (0.5)     (1.0)      (0.9) 

  Income (or loss) before income taxes .......     5.6       3.7       5.1 

Less: Provision for current and deferred
  domestic income taxes ......................     2.1       1.7       1.9
                                                                   
  Income (or loss) after income taxes ........     3.5       2.0       3.1 

(1) Revised
--------------------------------------------------------------------------
TABLE 6. OPERATING RATIOS FOR RETAIL TRADE CORPORATIONS WITH ASSETS OF
$50 MILLION AND OVER
                                                    4Q       3Q       4Q 
                        Item                      1999     1999(1)  1998(1)
                                                        (percent)
Annual rate of profit on stockholders` equity
 at end of period:
    Before income taxes ......................   33.60     19.83     31.27
    After income taxes .......................   20.90     10.77     19.35

Annual rate of profit on total assets:
    Before income taxes ......................   12.45      7.07     11.05
    After income taxes .......................    7.74      3.84      6.83

 
(1) Revised.

SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-99-4, April 2000. U.S. Bureau of the Census,



ORDER & RELEASE INFORMATION

The publication becomes available for sale approximately two weeks from the date of this release from the Superintendent of Documents, P.O. Box 371954, Pittsburg, 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
[Economic Indicator Release Schedule]

Quarter      Manufacturing, Mining, and Wholesale Trade   Retail Trade

First  2000		June      12			  July    12
Second 2000		September 11			  October 12
Third  2000		December  12			  

**Note:  Retail Data will be included in the release for manufacturing, mining, and wholesale trade.        

Questions concerning this advance report should be directed to Contact: Ronald H. Lee (301) 457-3343 or Frank Hartman (301) 457-3379.


Economic Indicators Back to Census

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Source: U.S. Census Bureau, Company Statistics Division
Maintained by Traci Gillespie-Brown

Revised Monday, 01-Mar-2004 09:16:09 EST.

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