The amount earned from a business or investment before deducting income taxes.
Preamble
Clause at the beginning of a legislative statute explaining its purpose, it neither confers or increases powers contained within it and is, therefore, not an essential element of it.
Precast
Concrete building components which are formed and cured at a factory and then transported to a work site for erection.
Precast concrete
Concrete components cast in a factory or on site before being placed in position.
Precipitate
(1) To cause a slightly soluble substance to become insoluble due to a chemical reagent or heat and to separate out from the solution. (2) To condense vapor and cause to fall as rain, snow, sleet, etc.
Precise
(1) Strictly defined and accurate. (2) Minutely exact with no variation.
Precision balanced motor
Precision balanced motors offer quieter operation and reduced vibration.
Precoat
A flux coat which is applied to a metal surface, prior to soldering or brazing to protect the metal from oxidizing, to dissolve existing oxides and to indicate the temperature since it melts at the proper temperature for soldering or brazing.
Preemptive right
Right of a current stockholder to maintain the percentage ownership in a real estate company by purchasing new shares on a proportionate basis before they are issued to the public. It allows existing stockholders to keep the value and control they presently enjoy. The new shares may be issued to the current stockholders at a lower price than the going market price. Further, brokerage commissions do no have to be paid.
