--Released 10 a.m. (EST), Tuesday, January 13, 2004 (CB04-06)
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For the third quarter of 2003, large retail
corporations with assets of $50 million and over
reported after-tax profits of $9.4 billion, up $1.0
(±0.1) billion from the preceding quarter, and up $1.6
(±0.1) billion from the same quarter a year ago, the
Commerce Department`s Census Bureau reported.
Sales in the third quarter 2003, at $379.3 billion, were
up $13.7 (±1.8) billion or 3.7 percent (±0.5%) from
last quarter, and up $31.1 (±1.8) billion or 8.9 percent
(±0.5%) from the third quarter of 2002. These data
are not adjusted for seasonality.
After-tax profits for these corporations averaged 2.5 cents per dollar of sales for the third quarter of 2003, up from the 2.3 cents of the preceding quarter, and the 2.3 cents recorded in the third quarter of 2002.
The annual rate of after-tax profit on stockholders` equity was 13.2 percent, up from the 12.2 percent of the second quarter of 2003, and the 11.9 percent of the third quarter of 2002.
3Q 2Q 3Q Item 2003 2003(1) 2002(1) (million dollars) Net sales, receipts, and operating revenues.... 379,270 365,575 348,218 Less: Depreciation, depletion, and amortization 7,409 7,261 6,890 Less: All other operating costs and expenses... 355,593 341,586 326,874 Income (or loss) from operations............. 16,269 16,729 14,454 Interest Expense .............................. 3,276 3,370 3,469 All other nonoperating income (expense)........ 1,404 239 1,788 Income (or loss) before income taxes......... 14,397 13,597 12,773 Less: Provision for current and deferred domestic income taxes........................ 4,947 5,157 4,923 Income (or loss) after income taxes.......... 9,449 8,440 7,851 Cash dividends charged to retained earnings in current quarter........................... 2,332 1,820 1,005 Net income retained in business.............. 7,117 6,620 6,846 Retained earnings at beginning of quarter...... 193,185 191,410 173,548 Other direct credits (or charges) to retained earnings (net)...................... (993) (3,875) (1,601) Retained earnings at end of quarter............ 199,308 194,155 178,792(1) Revised.
3Q 2Q 3Q Item 2003 2003(1) 2002(1) (cents) Net sales, receipts, and operating revenues.... 100.0 100.0 100.0 Less: Depreciation, depletion, and amortization 2.0 2.0 2.0 Less: All other operating costs and expenses... 93.8 93.4 93.9 Income (or loss) from operations............. 4.3 4.6 4.2 Interest Expense .............................. 0.9 0.9 1.0 All other nonoperating income (expense)........ 0.4 0.1 0.5 Income (or loss) before income taxes......... 3.8 3.7 3.7 Less: Provision for current and deferred domestic income taxes........................ 1.3 1.4 1.4 Income (or loss) after income taxes.......... 2.5 2.3 2.3(1) Revised.
3Q 2Q 3Q Item 2003 2003(1) 2002(1) (percent) Annual rate of profit on stockholders` equity at end of period: Before income taxes......................... 20.04 19.60 19.40 After income taxes.......................... 13.15 12.17 11.92 Annual rate of profit on total assets: Before income taxes......................... 7.72 7.64 7.30 After income taxes.......................... 5.06 4.74 4.49(1) Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-03-3, January 2004. U.S. Census Bureau, January 2004.
Schedule of Advance Data Release Dates--2004
[Economic Indicator Release Schedule]
Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade Fourth 2003 April 5, 2004 April 5, 2004 First 2004 June 14, 2004 July 14, 2004 Second 2004 September 13, 2004 October 13, 2004 Third 2004 December 13, 2004 January 12, 2005
Data in this release are presented on the North American Industry Classification System (NAICS).
See the 1997 NAICS manual, or visit the NAICS Web site at http://www.census.gov/naics.
Questions concerning this advance report should be directed to: Yolando St.George (301) 763-6600 or James Mercury (301) 763-3386.
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