Washington, June 15 (BridgeNews) - After-tax profits at U.S. manufacturers fell to 4.0% of sales in the first quarter from a revised 4.6% in the fourth quarter, the Commerce Department announced Friday. First-quarter 2001 after-tax profits also were lower than the revised 7.0% level registered in the first quarter of 2000.
Manufacturers reported first-quarter after-tax profits at a seasonally adjusted $45.286 billion, down from a revised $52.969 billion in the fourth quarter and down from $78.546 billion in the comparable year-ago period.
Sales totaled $1.143 trillion on a seasonally adjusted basis, down from a revised $1.144 trillion in the fourth quarter, but up from $1.122 trillion in the first quarter of 2000.
Durable goods manufacturing showed unadjusted after-tax profits of $12.214 billion, down markedly from revised fourth-quarter profits of $20.178 billion. Non-durables manufacturing registered $31.629 billion in after-tax profits, up from a revised $27.281 billion in the fourth quarter.
The unadjusted after-tax rate of return on stockholders' equity was 9.0% in the first quarter, compared with a revised 10.1% in the fourth quarter and 18.0% from the first quarter of 2000, Commerce said. Wholesale trade showed unadjusted after-tax profits of $2.353 billion, down from a revised $4.297 billion the previous quarter. For the mining industry, unadjusted after-tax profits were $5.291 billion, compared with a revised $4.229 billion in the fourth quarter and $1.447 billion in the first quarter of last year.