Fiscal Quotations | Page 5

With higher energy prices, the absence of fiscal stimulus, sluggish job creation and some moderation in Chinese growth, the Fed is probably closer to being done than it thinks.

The president is committed to saving Social Security, maintaining our hard won fiscal responsibility, reforming and strengthening our public schools so they work better for our children, passing a patient's bill or rights, strengthening America's leadership in the global economy and securing the peace in troubled areas around the world,

This would represent a significant reprioritization of expenditures given that the fiscal year is already one quarter through.

We just think it's time to give the school system a little breathing room so they can manage their finances. Most people want some kind of fiscal restraint kept in place, and nobody disagrees with the ordinance, but we think the majority of people in town would support an incremental adjustment to the formula to give the schools the money it needs.

We turned the corner during 2003 and were profitable in the fiscal year ended June 30, 2004. In the fiscal year ending June 30, 2005 we chose to invest in marketing and broke even.

We expect revenues and earnings to grow considerably for the full fiscal year 2005.

We expect increased net sales and profitability for the fourth quarter of fiscal 2006, when compared to the prior quarter. With our solid execution and the positive trends in our core business, we expect to close fiscal 2006 by reporting a significant increase in annual net sales over fiscal 2005. We also anticipate full-year profitability in 2006, which marks a dramatic improvement in our bottom line compared to the prior year.

We expect group sales and earnings in the current fiscal year 2006 to once again exceed the prior year figures.

We expected that our earnings from operations would be lower this quarter due to costs and expenses related to branding and operating on our own. Our current fiscal 2000 branding plan continues to call for spending of around the $140 million we mentioned in February. While we have more work to do in establishing our brand globally, we have made good progress.

We are very confident about the long-term outlook for our business, but believe that the immediate impact will be a further weakening in the operating environment and a delay in the economic recovery, ... However, given increased fiscal and monetary stimulus, we anticipate that long-term economic recovery should be more certain and vigorous than previously expected.

We're very pleased to report year-over-year revenue growth of 65 percent and net income that was nearly twice the year-ago level. Looking ahead to the second quarter of fiscal 2006, we expect revenue of about $4.3 billion. We expect GAAP earnings per diluted share of about $.38, including an estimated $.04 per share expense impact from non-cash stock-based compensation, translating to non-GAAP EPS of about $.42.

We're very excited about exiting the fiscal 1997 year at a $10 billion run rate,

To be frank, it doesn't surprise me. Chavez is a case apart; but if you look at the finance ministers -- Chile, Uruguay, Brazil -- all of them would please Milton Friedman with their fiscal discipline and their closing down of debts. And even those on the left stress 'effectiveness' as the model. It shows that the old labels don't have a lot of meaning in the present context.

Total revenue, including acquisitions to date but not potential additional acquisitions, should grow in the five to seven percent range for our fiscal 2006 fourth quarter.

We should be looking at this from a surgical point of view. A lot of people who think they would like to repeal the estate tax should put it in the context of fiscal policy. We'll have a huge hole in the federal treasury.

We think revenues will increase by 6 percent in fiscal year 2006.

We are very pleased with the progress achieved by RIM and its partners over the summer, and we are particularly energized by our prospects for the second half of the fiscal year, ... We are entering the second half with solid market positioning, strong momentum and an impressive line-up of new products and services. As a result, we are now expecting to surpass $2 billion in annual revenue and the 5 million subscriber milestone before the end of the fiscal year.

We have evaluated possible pond sites for the project, and this particular parcel is the most viable, from a drainage standpoint and a fiscal perspective.

We have decided to waive a plan to provide loans for the fiscal 2005, considering the current situation surrounding the Japan-China relations. We will monitor future development in Japan-China relations while continuing discussion (on the loans) within the government.

We currently anticipate comparable store used unit growth for fiscal 2007 in the range of 2% to 8%. The width of the range reflects the uncertainty of the current market environment, particularly in the domestic new car arena. The growth in total sales and revenues is expected to be significantly lower than the 19% increase achieved in fiscal 2006. This decrease reflects the difference in store opening patterns. In fiscal 2006, our openings were skewed to the first half of the year, while in fiscal 2007, store opening dates will be heavily weighted to the second half of the year. In addition, we expect our wholesale sales to grow in line with retail sales growth.

We could talk about sunspots, we could talk about fiscal year-end effects, but whatever the explanation may be, history is on the side of the fourth quarter being a good one.

We do not see a significant positive catalyst in the near term, so we think the shares are likely to mark time until better visibility emerges into fiscal 2006 results.

Broad-based demand and solid execution across all our businesses drove outstanding results for the quarter. Overall corporate IT spending continued to improve and we expect to see healthy demand through the end of our fiscal year.

Brazil has made real progress in achieving economic stability by maintaining fiscal control, with benefits for many, including the poor. The government has shown that progress must rest on two pillars - economic discipline and a focus on important social issues.

Best Buy's goal is to be a consistent top-quartile performer among all retailers, ... I am pleased that we are on track to deliver at that level yet again in the current fiscal year. We intend to build on the current year's success with another strong performance in fiscal 2003.

Big institutions are preparing for the fiscal year end, so there are few sellers in the market.

Based on news stories last year, some people may think that the department is solely a national security agency, ... But the fact is that the Department of Energy is at its heart a science agency. Forty percent, or $7.6 billion, of the fiscal year 2001 budget request is for research and development .... We are by far the nation's largest government agency in the physical sciences and in building and operating research facilities.

Based on new OEM business, we are raising our earnings guidance for fiscal years 2007 and 2008, with expectations that results will almost double our previousÊ...Êearnings guidance for these periods. We are also pursuing a number of other OEM opportunities.

As the state's chief fiscal officer, I am committed to making sure tax dollars are spent wisely and in absolute accordance with the law. If during my audit I find that Cassidy & Associates inappropriately used tax dollars, I will immediately suspend all future payments and take the necessary steps to make sure these dollars are returned to the state.

At some point, the market is going to return its focus on the current account and the U.S. fiscal deficits (but) at the moment, interest rates are still driving the dollar.

At the moment, post-hurricane, we have to view fiscal policy as being turned to be even more pro-active than before,

Conservatives have woken from a slumber and realized the government has grown exponentially. McCain has been an often-lonely voice calling for a brake on government spending and more fiscal sobriety.

Dividend increases supported by strong earnings will attract investors. With only two weeks remaining till the end of the fiscal year, people are sensitive to dividend news.

Director Portman will be inheriting the most dire long-term fiscal outlook we've ever had. The first baby boomers retire in 18 months, and the Social Security, Medicare and Medicaid costs are set to explode. On top of that, he'll be dealing with a Congress that's absolutely addicted to runaway spending and pork!

Don't worry about the money in this initial phase ... then there will be fiscal issues that are appropriate to discuss, but not at this initial stage when we are still rescuing and relocating people.

Cutting waste is a politically difficult task because almost every program has an active constituency that profits from the status quo, ... But Sen. Chambliss recognizes that the federal government must set priorities. He has taken a long- term view of the nation's fiscal problems and makes a serious effort to tackle the enormous debt being left to future generations.

Currently, the United States provides 22 percent of the U.N. annual budgets, over $900 million in fiscal year 2007, and some of that funding goes to the Human Rights Council.

And, while we faced comparisons to a record quarter year ago at our film studio, we released a number of successful films this quarter each of which should generate strong returns later this fiscal year when distributed in home entertainment.

During his service, Bauer has had a positive impact on the fiscal policy of Indiana.

During fiscal 2006, we expect the retail market to remain extremely competitive and tighter consumer spending to continue for at least the first half.

Due to fresh concerns over interest rate hikes, Japanese institutional investors, who normally start buying the dollar from around the beginning of the new fiscal year are not so active right now.

Estimates of the extent of spending are escalating, and the recovery and bounce-back, fueled by massive fiscal stimulus, could propel the U.S. economy on an unsustainable upward trajectory,

Fiscal year 2007 starts in July, so we're closer than you think.

Fiscal year 2002 will likely prove to be challenging under any circumstances, but we believe longer-term rewards outweigh potential risks.

Fiscal responsibility includes planning for contingencies--planning that goes well beyond backup and recovery--into the fabric of people, governance and the ability to change direction with great speed, ... Boards need to hold management accountable for building a strong bench of leaders who know the business, understand the interplay between sustainable futures for our businesses and our communities, and can function under times of great stress, including personal losses.

Fiscal relief may be the ammunition necessary to drive consumption expenditure but with it not being accompanied by aggressive monetary relief, growth in household consumption expenditure is showing signs of consolidation.

Fiscal Q4 guidance is a clear-cut disappointment. However, sentiment was very poor prior to the earnings release and some investors are likely relieved that it's not worse.

Fiscal policy is the other ladle in the macroeconomic punch bowl, and consistency in use of the two ladles is powerful, and inconsistency can be injurious,

Fiscal policy is still too tight for current circumstances.

Fiscal oversight and fiscal responsibility are a huge, huge part of being a school board member. We can sit here all day long and ask Albany for more money, but if we're not spending it wisely, we don't deserve it.

Fiscal fourth-quarter guidance is a clear-cut disappointment. However, sentiment was very poor prior to the earnings release and some investors are likely relieved that it's not worse.

Fiscal 2005 was a challenging year for the industry and our company primarily due to a weak box office and, to a lesser extent, the continued growth of various alternative entertainment options and new technologies.

Fiscal 2005 saw Absolute achieve significant milestones toward establishing our company as the standard for Computer Theft Recovery and Secure Asset Tracking. We reached an agreement with IBM/Lenovo to embed our software in the BIOS of all new ThinkPad laptops, we began enforcing our intellectual property resulting in several competitors choosing to either license our patents or resell our software, we announced an agreement with LoJack to brand our consumer offering under the well-known LoJack name, and we continued to expand our sales and marketing relationships with key OEMs.

Fiscal 2005 represented a record year for Red Robin in terms of revenue, earnings, and new restaurant openings - all are milestones for which the entire team should be very proud. We continued to experience good guest traffic growth which is a testament to our appeal to America's families, our strong price to value relationship, as well as the outstanding experiences that Red Robin team members are creating for our guests.

Fiscal 2003 will be a year of challenges, ... We will continue to focus on generating net cash from operations, though progress will be more difficult since we have already made significant improvements.

There was a growing undercurrent of discontent by fiscal conservatives kept under wraps because Bush delivered four tax cuts in four years. It had been a unifying theme. That is over now because of the gigantic deficits.

There's no doubt German firms are doing exceptionally well: order books are full to the brim and business confidence is at levels not seen since reunification. But they haven't started hiring yet. They know that in 2007 a very large fiscal tightening is envisaged, so this could be a short-lived rise in demand.

There's no fiscal restraint right now. Nobody is even thinking about it.

The town cannot put itself in fiscal jeopardy so the developer can make a profit.

It would certainly be rare, but considering the circumstances it's not surprising. It's well known the city is having severe fiscal difficulties.

I understand that a lot of people don't want change, but this is a good deal that makes fiscal sense,

They also reinforce the need to maintain a strong fiscal position to lean against the effects of high, debt-financed consumption in the household sector,

The widespread notion of only a few months ago that the U.S. would be taking genuine steps down the path of fiscal consolidation in 2005 now looks hugely optimistic.

The right way to deal with a budget problem that was years in the making is by formulating a credible plan to reduce the deficit over time and as the economy is able to withstand the necessary fiscal belt-tightening. That is what President Obama is doing.

The rhetoric over the fiscal stimulus package heated up this weekend, reducing the likelihood of passage, ... In what may become a famous remark, President Bush said that Congress would 'raise taxes over my dead body.'

There will have to be some major changes as time passes if the fiscal situation remains the same.

These accomplishments, and other initiatives under way, position us to return to profitability in the second quarter of the new fiscal year.

The scope of the displacement of persons out of the Gulf coast into the rest of the country and the enormity of the economic and social and fiscal challenges leave me very uncertain as to when, if ever, we recover.

The roof is blowing off this budget. We're spending money like it's going out of style. Let's put on the brakes and get this budget back under fiscal control.

It would appear that with revenue collection exceeding budget this fiscal year, additional tax relief may be forthcoming when Finance Minister Trevor Manuel unveils the national Budget for 2006/2007 on 15th February. Welfare and dependency grants, personal income tax relief, and cuts in those costs which would make housing more affordable for middle and low income earners are likely to buoy consumption expenditure, and manufacturing.

It would be no secret to you that whatever area we decide to do less of would have its supporters who would be very upset by that, as would Florida if we decided to do less shuttle, ... So, we are working to find every bit of fiscal synergy that we can so we can do what we want to do and we do not have to sacrifice what are valuable programs.

It would be nice if there were a policy response in the form of a tighter fiscal policy.

It would be better to do nothing and pay down $100 billion of our national debt than to sign a large and irresponsible tax cut that would signal to the world that the era of fiscal discipline in the United States is over, ... Meet The Press.

These changes will have a major impact on the fiscal deficit of states, apart from bringing down the costs of doing business,

These revised covenants and conditions are definitely achievable, given reasonable market conditions, ... Our Phase II business restructuring program will enable us to create a sharper, leaner Lucent, and will enable us to return to profitability and positive cash flow during fiscal year 2002.

These raises weren't part of the budget and we have to turn right around in July and set the budget for the next fiscal year.

These data suggest that the manufacturing sector continues to bleed. Lower interest rates, fiscal stimulus and declining energy costs have not yet made any difference to this part of the economy.

These cutoff dates provide a reasonable period for making awards by the end of the fiscal year,

The second quarter results reflected the initial benefit of the cost-savings measures introduced in January, 2006. With a strong backlog in our electronic counter measures business and a lower operating cost structure, we now have enough visibility to project an even stronger third quarter as well as a net profit for the fiscal year overall.

The slower growth in revenues and continued pressure on margins will result in negative earnings comparison for at least the next two quarters, with fiscal 1998 earnings per share likely to be in the $2 to $2.15 range,

The slowdown in futures orders clearly signals that revenue growth in the second half of fiscal 1998 will be below our previous expectations. This is largely a result of the slowdown in the Asia Pacific market, where we now anticipate more moderate revenue growth in fiscal 1998 after increasing 84 percent on a constant dollar basis in fiscal 1997,

The strong focus on infrastructure delivery in the budget, together with an intention to improve the quality of government spending, means fiscal policy should ultimately contribute to sustained higher growth in the economy.

The stable outlook reflects revised expectations concerning the prospects of policy continuity and adherence to fiscal consolidation, which foreshadows improved chances for overall deficit reduction and stabilization of the country's debt dynamics.

The taxpayer is footing the bill for his failure to reform the public services, and Gordon Brown's lack of fiscal responsibility will damage our ability to compete in the new global economy.

Thanks to the exceptional efforts of our employees, net sales, earnings and all key metrics for the year exceeded our original goals and surpassed the extraordinary results of the prior fiscal year. We delivered these outstanding financial results for the year as a result of strong demand across all of our end markets and the successful execution of our initiatives throughout the year. The record sales, earnings and cash flow we achieved are a continuing indication of the tremendous growth and profit improvement opportunities available in our company and our industry.

So much of our mythology around money centers on the illusion that if we had 'more,' we would be more comfortable and more able to access our creativity. But creativity and prosperity are spiritual matters, not fiscal ones.

Room rates were up, plus there were 4,000 more rooms available. That impacted room revenues during the fiscal year.

Sales growth in international markets helped drive revenues to record levels for the third quarter in both the professional and residential segments, helping to mitigate weather-related softness in our domestic markets. Despite a challenging environment, year-to-date consolidated net sales are nearly 10 percent ahead of fiscal 2004's record level.

Rather than simply auditing assumptions, the NAO should report progress against the Chancellor's fiscal rules at the time of the Budget and pre-Budget report,

Our third quarter was disappointing, and based on our review of these results and their impact on the fourth quarter, we are reducing our outlook for the fiscal year.

Our third-quarter financial results demonstrate the ongoing strength of our business, ... Starbucks operations are functioning at a more sophisticated level than ever before. Our consistently strong performance positions us well to achieve our aggressive fiscal 2005 goals -- including an acceleration of store growth as we pursue the Company's expanding global opportunity.

Our estimate of $25 million for the project is one we are fairly comfortable with. We can't enter into an agreement for anything other than what we have programmed for construction in fiscal year 2011. So that's what we would enter into with the county.

Our decision to implement changes in supply chain operations is a difficult one, but it is the right one for the business. The high costs of an inefficient supply chain are simply not acceptable. By moving quickly we will capture substantial savings this year, and be positioned to reap even greater cost savings in fiscal 2000 and beyond,

People counters at the Community Center recorded one million that came through the doors last fiscal year; obviously, not all of them were different. There were 650,000 the year before.

Operation Overdrive contributed to our double-digit earnings growth in every quarter of this fiscal year,

Operating profits from North America in the first six months (of its fiscal year) were up by 5.0 percent, but would have been nearer 7.0 percent if it had not been for the combined impact of the hurricanes and higher input costs.

Oh, and fiscal responsibility. But I think that goes without saying.

After years of allowing spending to grow unchecked, I am gratified to see the Senate take a step in the right direction toward serious fiscal discipline.

Adding these factors together, it is regrettably my conclusion that we are unlikely to return to balance in the federal accounts before possibly fiscal '05. That is, in the next two years things will have to break right for us to do that,

After 30 years of Pearson-Trudeau-Mulroney economic liberalism, the federal Government discovered, by observing the provinces, that the fiscal conservatism of Mackenzie King and St. Laurent had been right all along.