Gross and Net Income of Major U.S. Sugar Cane and Beet Producers

GAO was asked to report on the gross and net incomes of the Nation's major sugar cane and beet producers from annual public reports and financial statements for 1978, 1979, 1980, and 1981. GAO limited its work to major corporations that are required to file annual reports with the Securities and Exchange Commission and did not attempt to obtain 1981 data because the companies have not yet filed annual financial statements for 1981.

GAO obtained information on three sugar cane and three sugar beet producers that accounted for approximately 39 percent of the raw value of the U.S. domestic sugar production. All of the companies are diversified by product or process, and therefore the revenues and net income figures do not necessarily represent profitability from the growing and processing of cane or beet sugar. In 1980, the six firms had a revenue of $4,399,473,000 and a net income of $233,910,000. In 1979, the six firms had a revenue of $3,591,300,000 and a net income of $129,946,000. In 1978, the six firms had a revenue of $3,176,124,000 and a net income of $92,239,000.