Printer Friendly

LOOK FOR INCREASED SALES AND PROFITS, SAY CORPORATE CONTROLLERS

 MONTVALE, N.J., Oct. 6 /PRNewswire/ -- Comparing 1993 sales and profits to those of 1992, 58 percent of U.S. corporate controllers said sales will be higher and 50 percent expect profits will be up, according to a survey released today by the Controllers Council of the Institute of Management Accountants (IMA).
 With over 87,000 members, IMA conducted a survey of 2,500 members of its Controllers Council, the financial executives and managers who are responsible for the budgets and forecasts of their companies.
 Looking closer at sales and profits for 1993, 23 percent expect a decline in sales, and 30 percent predicted lower earnings as compared to the same period last year.
 Nineteen percent of the controllers said sales would remain the same, and 20 percent expected no change in profits over last year.
 Are controllers optimistic for this year's cash flows at their companies? Comparing 1993 to 1992, 45 percent expect an increase in cash flows, 25 percent expect no change, and 30 percent expect a decrease.
 "However, one concern is that those companies expecting reduced cash flows has grown by 15 percent over our last survey," said Jonathan Schiff, consulting director to IMA's Controllers Council.
 The survey was based on a 28 percent response rate and was conducted during the third week of September.
 Founded in 1919, IMA is the world's largest organization of management accountants and financial managers. IMA is based in Montvale.
 -0- 10/6/93
 /CONTACT: Daniel M. Hrisak of Institute of Management Accountants, 201-573-6154, or 404-992-2187/


CO: Institute of Management Accountants ST: New Jersey IN: SU: ECO

PS-SH -- NY019 -- 9229 10/06/93 09:42 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 6, 1993
Words:274
Previous Article:U.S. TRANSPORTATION SYSTEMS ANNOUNCES NEW JOINT VENTURE TO PROVIDE TRANSPORTATION SERVICES
Next Article:STEWART & STEVENSON ANNOUNCE AGREEMENT WITH TRANSALTA ENERGY CORPORATION OF CANADA AND MERCURY ENERGY OF NEW ZEALAND
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters