Only two Fortune 500 companies have achieved such a high rate of growth in profitability.
No previous year has come close to 1991 in profitability, except 1986, when the industry had a net income of $5.51 billion.
Fuel prices are a significant factor in profitability of fishing.
"It is above average in profitability now," he said, "but with the expansion must do even better."
The net effect of all these changes was a substantial increase in profitability.
"They've accelerated the price compression and the reduction in profitability for everyone across the board."
Six Sigma is a business management system that can lead to significant increases in both quality and profitability.
The fall in profitability in 1991 was the first since 1982, and this trend is clearly set to continue.
"This is evidence of ongoing improvement in profitability due to cost cutting."
But that meager increase masks what was almost certainly a drop in profitability.