Some of the decline in revenues resulted from the decline in the economy.
But it also said that as baby boomers retire, "outlays will continually grow faster than revenues, resulting in significant annual deficits".
Fenerbahce said their loss of revenues resulting from their exclusion from the Champions League would be some €25m (£22m) and their shares tumbled 18 per cent on the Istanbul Stock Exchange yesterday.
The ballet's problems began in late 2002, when its production of "The Nutcracker," year in and year out a stable source of income, brought in only 40percentt of projected revenues, resulting in a $300,000 deficit.
But Veil told Associated Press that "it would have been indecent that Kerviel could have preserved revenues" resulting from the fraud, such as book or movie royalties or other income.
This is, of course, an unusual year for New York, with the added costs and reduced revenues resulting from Sept. 11, and the state has given the city authority to borrow additional money.
California's fiscal situation is among the direst in the nation, in large part because of the confluence of large tax cuts made early in Mr. Schwarzenegger's administration and declining tax revenues resulting from high rates of home foreclosures.
At 250 kg ha−1, costs consume ~42.2%% of the revenues resulting in a net income of <$1day−11 ha−1 (see Fig. 8a).
In contrast, production costs for farms with yields of 500 kg ha−1 are ~21.1%% of the total revenues resulting in a net income <$2day−11 ha−1 farmed.
In global enterprise and wholesale, increased sales of strategic services continued to help mitigate lower revenues resulting from secular and global economic impacts.
