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After-tax profits for these corporations averaged 2.3 cents per dollar of sales for the second quarter of 2000, up 0.1 (+\-0.1) cent from the preceding quarter, but down 0.1 (+\-0.1) cent from the second quarter of 1999, according to advance data from the Commerce Department`s U.S. Census Bureau.
The annual rate of after-tax return on stockholders` equity rose 1.0 percent (+\-0.7%) to 12.9 percent, when compared to the first quarter of 2000, but showing no significant change from the second quarter of 1999. These data are based on quarterly financial reports obtained from 495 corporations. More detailed information on the retail trade sector for the second quarter will be published in the Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations Third Quarter 2000 which is scheduled for release on December 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 data submitted 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 non- sampling variability such as response error, non-reporting, and coverage errors. Estimates of sampling variability are presented in the publication. A statement such as "up 2.5 (+\-0.1) cents," appearing in the text, indicates the range (+2.4 to +2.6 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.
This report is available on the day of issue on the Department of Commerce`s Internet site at (http://www.census.gov/csd/qfr).
2Q 1Q 2Q Item 2000 2000(1) 1999(1) (million dollars) Net sales, receipts, and operating revenues.... 323,238 314,042 296,860 Less: Depreciation, depletion, and amortization 6,746 6,590 6,082 Less: All other operating costs and expenses... 301,357 293,556 275,906 Income (or loss) from operations............. 15,135 13,897 14,872 Interest Expense .............................. 3,970 3,686 3,558 All other nonoperating income (expense)........ 1,305 1,410 562 Income (or loss) before income taxes......... 12,471 11,620 11,876 Less: Provision for current and deferred domestic income taxes........................ 4,901 4,667 4,868 Income (or loss) after income taxes.......... 7,570 6,953 7,008 Cash dividends charged to retained earnings in current quarter........................... 1,419 1,218 1,468 Net income retained in business.............. 6,151 5,735 5,540 Retained earnings at beginning of quarter...... 159,210 161,746 141,683 Other direct credits (or charges) to retained earnings (net)...................... (1,676) (6,658) (857) Retained earnings at end of quarter............ 163,685 160,823 146,366(1) Revised.
2Q 1Q 2Q Item 2000 2000(1) 1999(1) (cents) Net sales, receipts, and operating revenues.... 100.0 100.0 100.0 Less: Depreciation, depletion, and amortization 2.1 2.1 2.1 Less: All other operating costs and expenses... 93.2 93.5 92.9 Income (or loss) from operations............. 4.7 4.4 5.0 Interest Expense .............................. 1.2 1.2 1.2 All other nonoperating income (expense)........ 0.4 0.4 0.2 Income (or loss) before income taxes......... 3.9 3.7 4.0 Less: Provision for current and deferred domestic income taxes........................ 1.5 1.5 1.6 Income (or loss) after income taxes.......... 2.3 2.2 2.4(1) Revised.
2Q 1Q 2Q Item 2000 2000(1) 1999(1) (percent) Annual rate of profit on stockholders` equity at end of period: Before income taxes......................... 21.21 19.89 21.96 After income taxes.......................... 12.87 11.90 12.96 Annual rate of profit on total assets: Before income taxes......................... 7.92 7.42 7.98 After income taxes.......................... 4.81 4.44 4.71(1) Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-00-3.
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[Economic Indicator Release Schedule]
Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade
Third 2000 December 12, 2000
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