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Predicting earnings more than a few months away is extremely difficult; most investors do not look more than two quarters ahead, he said.
Members of the committee also recognised that business investment declined in the two quarters ahead of the vote and the jobs market had also shown signs of weakening, with most employers saying they planned to freeze hiring or cut jobs over the next 12 months.
BDO said its optimism index, which predicts performance two quarters ahead, pointed to further improvements in the next six months.
Profitability for the company arrived two quarters ahead of Wall Street's expectations, and just three quarters after InfoSpace shares went public in December 1998.
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The commercial PC group is again profitable and is one quarter ahead of projections.
"Output in Scotland is at record levels and we have exceeded our pre-recession peak at least one quarter ahead of the UK.
We improved our performance across the board and we achieved many of our targets one quarter ahead of our committed timeline," Solectron said.
Because equity price moves typically discount the two quarters immediately ahead, the implication is that a healthy run-up in new orders and output is in store for factories in China, the world's biggest economy after the United States'.
Yet recognize they face at least two difficult quarters ahead.
The contracts expire up to five calendar-year quarters ahead.
We changed our budgeting process last year to move away from annual budgeting to actual monthly updates of six quarters looking ahead.
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