Fiscal Quotations | Page 2

There are two things that we're still concerned about. One is the structure of public finances notwithstanding the fiscal performance in 2005 and two is the political outlook and the effect that politics might have on public finance." ()

The profit forecasts are rather strong, because I had thought that they might present nearly flat growth in profit in the new fiscal year.

We've seen a lot of override attempts, pretty much all over the place in the past three years. And the fiscal pressure is not going to go away.

The planned square footage growth for the coming year represents approximately 46 million square feet of new retail space, which will be the largest square footage increase in the company's history and a 9 percent increase over the fiscal 2002 total,

We're glad that the comptroller is supporting many of the budget reform initiatives the governor has advocated for years, such as greater openness and transparency, a balanced enacted budget, higher rainy day reserves, binding revenue forecasts, and moving the start of the fiscal year.

Lucent will continue to review its internal processes throughout fiscal year 2001, which may result in additional cost structure improvements and associated business restructuring charges as it moves from a multi-divisional company to one with a single focus on the service provider market,

Lucent begins fiscal 1999 with a solid quarter, with record earnings and margins, ... As our customers continue to evolve and transform their networks for next-generation broadband communications and we add new customers around the world, Lucent's momentum has never been stronger.

Maintaining strong fiscal performance combined with balanced investments provides a catalyst for the private sector to continue to grow.

Lower fiscal and external vulnerabilities diminishes the downside risk for these economies over the short term. A continuation of this recent performance is therefore expected in 2006.

Many are reacting negatively to it. Real ID ... will have significant fiscal implications for the states.

Seasonal factors should be turning favorable now. Micron has increased market share and has enhanced its technology compared with the last cycle. We see room for improvement in both fiscal 2001 estimates and valuation.

Senators are betting that pandering to the public with billions in election-year promises will pay off more than they lose by cutting the fiscal conservatives in their own party off at the knees.

Some basic accounting fiscal areas that we would expect for $1 billion operation were just not up to what we would have expected. You would expect to go to personnel files to find salary information, and it wasn't there. In some cases, there wasn't a personnel file.

Since funding this service is included as line items in both the water and sewer and engineering divisions' annual budgets, only the first year of the contract is funded, ... It is noted within the contract itself that fiscal years 2007 and 2008 are subject to appropriations. The fiscal year 2006 amount is not to exceed $33,940 in the engineering division, the amount of that appropriation, and the same amount in the water and sewer division. The three year total is not to exceed $240,480.

Minister Borja has taken on a firm commitment to keep fiscal spending under control. That for us is good news.

Mr. Greenspan said next to nothing about the current economic situation in his testimony, ... does not sound to us like a signal he has changed his mind on the appropriateness of the current level of interest rates. The rest of the testimony was a clear and unambiguous plea to Congress not to abandon fiscal discipline.

Mr. Greenspan is at least partly to blame for the turnaround in the fiscal position here -- his musings on the problems of ever-increasing surpluses were a clear green light to Congress to cut taxes.

Mazda, like other automakers, is benefiting from the weaker yen. Currently they don't have many new models, but next fiscal year starting in April, they will release new SUV models in the U.S., which should help its earnings and sales.

Medicare is projected to run out of money in 2001. That date of fiscal insolvency can be put off for several years by relatively incremental and modest changes, but when the baby boomers start retiring, ... At that point, costs go up very rapidly, and more extensive action will be necessary.

Median home prices within the district are high for a rural community, reflecting the district's attractiveness to buyers of second homes and telecommuters. Residents of the largest town also have access to job centers in the Fresno region, albeit via a one-hour drive to the south. Separately, the district recently lost about a third of its students and will lose about a third of its tax base in fiscal 2007 due to an annexation vote that removed a portion of the district's far southwest territory. This has been incorporated into the rating and we expect continued property turnover and new construction will translate into a growing property tax base within the school's new boundaries.

One of Toro's largest end markets -- golf -- appears to be poised for a long-awaited rebound. The residential piece of the market is gearing up for strong promotional activity, which bodes well for the fiscal second quarter.

Of course, economic downturns are never good news, but historically, our company has always emerged from them stronger than ever, ... With this in mind, we remain confident in meeting or exceeding our fiscal goals for this year and about the long-term prospects for The Walt Disney Company.

No one should kid themselves. This is not a budget that is going to have a significant impact on the fiscal policy of this country.

One wants to make sure that it continues to build and not to be too far ahead of the curve in monetary policy if at the same time fiscal policy is also tightening.

Monetary policy has less room to maneuver when interest rates are close to zero, while expansionary fiscal policy is likely both more effective and less costly in terms of increased debt burden when interest rates are pinned at low levels.

Now, 'the fiscal cliff' is a name that the media came up with, but some of us have been saying for years, 'You have got to stop the out of control federal spending, or you will end up at this point.' We're there.

Next fiscal year we expect continuing strong fee income growth and improvement in the loan-deposit spread as interest rates start to rise.

Obviously the commonwealth is not a bank, and it is not in a position to provide loans to county or city governments. However, we are well aware of this issue and are confident that we will find a way to work with the city and county in the same cooperative spirit that we have to solve other fiscal challenges over the past two years.

Revenue growth is likely to be stronger in the second half (of the fiscal year ending in July) than in the first half.

People will give them a little bit of slack, realizing that this fiscal year it's a turnaround year.

Pointing out that overspending on public-employee benefits leads to fiscal instability does not mean that public employees are bad people or that they deserve to fall on hard times; it's just observing a simple truth.

My understanding is that this contract has been funded for the current fiscal year, so this is legitimately before us, in my opinion. My concern about adding staff is that you're splitting the chain of command. If it's this board's position to reject this contract for the current fiscal year, then it's incumbent upon us to begin the process of adding to staff.

Next year's budget has already been derailed and the new fiscal year hasn't even begun,

Nissan delivered a solid performance in fiscal 2005 despite the many challenges facing the global auto industry including higher raw material prices, higher energy costs, higher interest rates and higher incentives.

On the path that we're headed on today, either there have to be dramatic changes in entitlement programs and other federal spending, or dramatic tax increases to close the fiscal gap.

If we're going to win this battle over fiscal responsibility, we need more of the people who vote right and fewer of those whose seniority is their only selling point.

If we launch without setback, 16 (shuttle) flights are required to assemble the ISS and we'll finish sometime early in fiscal 2010, so we have, we believe, substantial schedule margin, to complete our job.

I am here to ask the fiscal court to consider making Bracken County a closed county for electrical inspectors, choosing only two or three certified electrical inspectors designated for the county.

Capital spending is going to remain strong for the rest of the fiscal year. In the short-term we're going to see this supported by demand from car manufacturers and electronics makers.

Capital spending is going to remain strong for the rest of the fiscal year.

Based on preliminary estimates, we expect strong revenue and earnings growth for fiscal 2002.

I give him a C-minus. It's better than we've had, but we've got a long way to go to get this federal fiscal house in order. ... I would give him a much higher grade if he had vetoed just one (spending) bill.

I feel very good about where we are and so does the rest of the management. We have worked hard through a tough period of transition during these past two fiscal years, while our focus on fundamentals, serving customers and delivering value through integration puts us in great shape this fiscal year and for the future.

I find it utterly inconceivable, frankly, that we can have the type of potential fiscal outlook, which now confronts us over the next 15 to 20 years which, unless addressed, will not have a significant impact on long-term interest rates,

I feel like that is up to the fiscal court,

Growing our total online services and technology revenues by 8% from the third quarter to the fourth quarter of fiscal year 2006 is a tremendous achievement, and we are optimistic about continuing the trend of quarter-over-quarter revenue growth in the current fiscal year. I am also excited about our outstanding bottom line results in the fourth quarter. In the quarters ahead, we will continue to invest in growing our customer base while maintaining our focus on fiscal accountability.

Given the increasing global importance of retirement issues and the rethinking of health care benefits and executive compensation, we expect our solid performance to continue in fiscal 2006.

Given the difficult global economy and the increasing uncertainty caused by the impending war in Iraq, we were pleased to see modest revenue and operating earnings growth in our fiscal third quarter,

Given the current outlook for industry volumes and cost challenges we are taking a more cautious position on our fiscal 2006 earnings. We now expect that earnings per share from continuing operations will be flat to slightly down compared with $1.79 from continuing operations reported in fiscal 2005.

Given (Scotty's Paving) circumstances, I don't think the Fiscal Court should hold (the company's) feet to the fire,

Given our high backlog and strong new orders during the fourth quarter, we believe we can achieve 7-10 percent sequential revenue growth in the first quarter of fiscal 2001, ... Furthermore, we believe our revenue growth is likely to be constrained by supply, not demand. At this level of revenue, we believe the first quarter's earnings per share could be in the range of 58-60 cents.

From a local perspective they're saving a lot of money at the moment and their fiscal surplus was 15 percent last year and is going to be 14 percent this year.

From a financial perspective, fiscal 2005 milestones include record sales contracts in the fourth quarter and fiscal year, positive cash from operations in all four quarters, strengthening of our balance sheet following a $5.5 million private placement, and a promising sales pipeline in each of our key target markets - education, corporate and consumer. As a result, we are well positioned to continue our sales growth and cash positive trends into fiscal 2006.

From our standpoint, this is not a top fiscal issue.

For resourceful tech founders, finding capital is rarely a problem; making the best use of it is another story. A few years slinging pepperoni pies and chicken wings - on tiny margins and with minimal investment - might not be the worst fiscal training.

Further liberalization of the economy and infrastructure improvements will help India's trend growth. Such reforms coupled with continued fiscal consolidation will help India achieve investment grade over time.

If after the report on Wednesday investors believe that FedEx will be able to post double-digit (earnings per share) growth during the first half of the fiscal year 2001, we believe the stock should begin to act a bit better. If FedEx management guides the street downward, we believe the stock will be dead money for some time.

If a Democratic administration had pursued the fiscal policies and put the nation in the fiscal posture it's now in, the business community would be outraged and on the ramparts. They're getting benefits, but they're also very concerned that if they are perceived to be opposed to the administration's policies, there will be a cost to pay in terms of direct adverse impact on their corporate interests.

I don't want a Europe that is just a free-trade area attached to NATO. Even less do I want a Europe where it's everyone against everyone, and social and fiscal dumping replaces solidarity.

If the company said it was a one-quarter event, then I think the downside would have been limited. But given the guidance we received, which is that growth is likely to slow because the company is so large, that will ratchet down the numbers for fiscal 2001, and that's probably where the damage is going to come from.

If the hurricane does not derail the expansion, then against the backdrop of continuing strong domestic demand growth and fiscal policy becoming expansionary, monetary policy will have to become much less accommodative.

I always thought the golden rule was pointless because it could always be refined in so many ways. In the past few years, Britain has gone on a very feckless spending spree when every other country has embarked on fiscal consolidation.

He's certainly been very supportive of the president's fiscal policy and tax program.

He has been less than truthful with the people of California about what it's going to take to restore fiscal integrity and get the economy going, ... I'm going to fight for what I think is right for rebuilding this economy. I will give no quarter in that respect.

He has done well, managing expectations and talking about a prudent, fiscal policy rather than offering very generous tax cuts and concessions. The question is what he will do now, given the strong economic background and improved fiscal situation.

We expect to realize cost savings beginning in 2006 from the consolidation of headquarters functions, achieving economies of scale and the adoption of best practices across the combined company. We fully expect this acquisition to be accretive to earnings in fiscal 2006.

There is no fiscal problem at the school.

We're on an imprudent, unsustainable fiscal path, ... The status quo is not an option and we're not going to grow our way out of this problem and the sooner we get started the better.

We're off to a great start in fiscal 1999, with trading volumes and account growth during the first quarter turning out to be stronger than we expected.

What is called for at the present time is prudence in fiscal policy and a continued application of the brakes in Federal Reserve policy. That's the policy that will get us into a future that where we see continued growth and very moderate inflation.

We are extremely pleased with our strong second-quarter results. We are on track to achieve our fiscal 2001 split-adjusted earnings per share target of $0.46 and are as enthusiastic as ever about the company's long-term growth potential.

We are extremely pleased with our overall results for fiscal 2001, particularly the strength of our fourth quarter,

History speaks pretty clearly that the markets do better with Democrats. Republicans' ideas of what constitutes fiscal responsibility simply are not good for the stock market. Democrats have many tendencies, but one of them is to look after the workers, and actually that tends to be good for demand and good for markets.

He's gained a lot of kudos in recent months, he's a fiscal consolidator -- which is what Japan needs. I understand he has growing support within the LDP.

The rally in stocks is hampering bonds. Investors also have become risk averse ahead of the fiscal year end.

There is a more plausible explanation for the spending slowdown, namely the withdrawal of fiscal and monetary stimulus from a household sector whose finances remain stretched,

There is always this worry that such a spending plan will widen the budget deficit. If India misses the deficit target again, it could dilute its commitment to fiscal consolidation. Giving dole doesn't resolve poverty.

Under President Obama, we have spent more money - he has spent more money than any other president in this history, actually, the combined total from Washington up to George W. Bush. President Obama has racked up more spending, $1 trillion deficits. And it's time that he join us in this effort to get our fiscal house in order.

Under his stewardship the icon that was Mercedes-Benz has been devalued. There has been a loss of fiscal discipline within the group as money has been thrown at Chrysler. The decision to acquire Chrysler in the first place has not been a great success.

Unless we address this with fiscal stimulus that will give us more confidence than we have today, these problems will compound.

We look forward to capturing integration cost savings since we eliminated the dual head office infrastructures during the first quarter of fiscal 2006,

We maintain a bullish view, however predicated on indications that the fourth quarter is tracking inline/slightly ahead of expectations, an upward bias to fiscal 2006 earnings estimates, the fact that investors are beginning to look at and discount fiscal 2007 estimates, which make valuation multiples more palatable, and further consolidation into the New Year.

I would not reconsider the nuclear cuts. The appropriations committee did due process in looking at where there was the ability to cut some spending and that's what we did and now it's time to look forward to fiscal year '12.

I would say that on or around Nov. 15 you would be hearing a revised revenue estimate and that midterm fiscal report would say we were in dire straits and that we were in immediate need of a tax increase.

It actually would be virtually impossible to exaggerate the magnitude of the state's fiscal problem. And the governor-elect means what he's said about campaign-finance reform. And that intrinsically creates a very tough agenda.

I think it eases the fiscal burden on the individual consumer.

I think it is fair to say that by any standards we had an excellent start to fiscal '06,

It appears that as long as politics does not threaten steps towards fiscal consolidation or derail growth prospects, the market will be happy to buy Philippines assets on dips.

I think it's likely for the time being that Brazil is going to try to move forward as it says it will on its fiscal program,

It is a little bit of the season as many people are away for the summer combined with lingering concerns over South America and a wait-and-see attitude to see what happens next with the fiscal reforms when Congress meets again in September.

I think the Fed will take it very slowly from here on in. The Fed is cognizant of the fact that we are going to get massive fiscal stimulus in the next couple of months.

I think the chief justice is pushing hard to fund that and five other new judges throughout the state, but with Medicaid Part D, there?s still no telling if the funding will be available. My understanding is the Legislative Fiscal Office is dealing with that committee right now.

I think the (Brazilian) government has done most of the things it promised to do on the fiscal front, ... However, it has mismanaged the process so badly that the currency overshot.

It is clear that the debt limit must be increased. Failure to approve an increase would have dire consequences for government finances and financial markets. Delaying action on an increase until the last possible moment, forcing Treasury to utilize extraordinary measures to avoid a default, is unnecessary and irresponsible. However, under the current fiscal circumstances approving a large-scale increase in the debt limit without a plan to restore fiscal discipline would also be irresponsible.

It is clear from recent events -- including the program the president is announcing this morning to improve and strengthen the duties of those whose conduct is at the core of our securities markets -- that the SEC critically needs to receive additional money in fiscal 2003 to fully fund pay parity and that we should be authorized to add new staff to address pressing immediate needs,

Last night, Apple pre-announced a massive shortfall in expected revenue for the current quarter as well as for the remainder of the fiscal year. This does not come as a surprise to us, although the magnitude of the shortfall surpassed even our low expectations, ... We believe it is important to note that we have been much more negative regarding the Apple story than the Street consensus over the past several months.

Lafayette does not have a fiscal crisis. I don't care if it costs a half million dollars,

I think we'll be fortunate if a quarter of that materializes. The change in the outlook for fiscal policy is remarkable.

It is lose-lose situation. Anyone who expects prompt fiscal correction in Hungary may easily be disappointed.

I will hear the opinions of local governments sincerely. I will certainly realize the reform by next fiscal year.