Academic journal article Journal of Accountancy

Midsized Manufacturers Wary, despite Higher Profits

Academic journal article Journal of Accountancy

Midsized Manufacturers Wary, despite Higher Profits

Article excerpt

A Grant Thornton survey of 251 top executives of midsized manufacturing companies (those with sales of $10 million to $500 million) found the manufacturers in a cautious mood, despite expectations of higher profits for midsized companies for both 1992 and 1993.

Concerning their earnings, 55% of the companies surveyed expected to report higher profits for 1992 and 68% forecast an increase for 1993. Only 20% of the manufacturers anticipated lower earnings for 1992 and just 7% projected an earnings decline in 1993. Twenty-four percent of the companies expected no profit change in 1992 and the same percentage looked for stable profits in 1993. The remaining 1% were unsure about 1992 and 1993 profit levels.

Concerning the outlook for the economy, only 12% of the executives said the United States was well on its way to recovery. Of those who said it was not, only 3% thought the recession ended in 1992 and 16% expected a recovery in the first half of 1993. …

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