Still Waiting for the Profit Rebound
Anyone thinking this was the quarter when Corporate America would shake off its slump is about to be sorely disappointed. Even with consumer-product and health-care companies boosting sales numbers by upping prices, overall revenues tumbled. For the 122 companies in BusinessWeek's flash profit survey, sales fell 6% from a year earlier. While preliminary, that's even worse than the 4% decline during the fourth quarter of 2001 -- itself an unprecedented drop.
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