NORTH AMERICAN NEWS
by JohnWolz, editor
GlobalFastenerNews.com
SURVEY OF THE FASTENER INDUSTRY 2011 YEAR END Percentage of Fastener Firms Reporting Higher Sales & Profit, 1979-2011
Survey of the fastener industry 2011
GLOBALFASTENERNEWS.COM SALES PROFIT
79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11
2011 a good year Percentage of fastener firms reporting higher sales and profits 1979 - 2011
2011 A Good Year for Fastener Industry
Increased sales and profits were on the menu of fastener companies in 2011 - and strong helpings of both were served, the End of 2011 FIN Survey found.
N I
Increased sales and profits were on the menu of fastener companies in 2011 — and strong helpings of both were served, the End of 2011 FIN Survey found. Nearly eight in ten businesses — 78% — reported "moderate" to "strong" sales growth during the year, representing the second straight year of sales growth by at least three out of four fastener companies. An even 50% of fastener firms said sales grew at a "moderate" pace, while 28% saw "strong" sales growth.
early eight in ten businesses - 78% - reported “moderate” to “strong” sales growth during the year, representing the second straight year of sales growth by at least three out of four fastener companies. An
even 50% of fastener firms said sales grew at a “moderate” pace, while 28% saw “strong” sales growth. An additional 12% of companies participating in the survey
said sales stagnated in 2011, while 5% reported a moderate decrease in annual revenues. Profits were up as well, with 73% of manufacturers, distributors,
GLOBALFASTENERNEWS.COM SALES INDEX 4.3!
4.5! An additional 12% of companies participating in the survey said
And fastener companies are overwhelmingly optimistic about their prospects in 2012. The FIN Survey found nearly eight out of ten businesses forecast further sales growth in the coming months. Just under 60% expect “moderate” sales increases, whil
2011 FIN Survey participants expressed "high" confidence in the North American economy for 2012. In addition, half expressed "moderate" confidence in the domestic economy. Two years ago no FIN Survey
importers and platers surveyed by FIN recording profit gains. Just over 49% of companies saw “moderate” profit increases, while 24% achieved “strong” profit growth. About two in ten fastener businesses said profit was unchanged from the previous year, with an additional 2% showing “moderate” bottom-line declines.
Hiring up, but fewer predicted for 2012
Just over one in two fastener companies participating in the End of 2011 FIN Survey added jobs in 2011, up from the 40% who increased their workforce in 2010.
sales stagnated in 2011, while 5% reported a moderate decrease in annual revenues. Profits were up as well, with 73% of manufacturers, distributors, importers and platers surveyed by FIN recording profit gains. Just over 49% of companies saw "moderate" profit increases, while 24% achieved "strong" profit growth. About two in ten fastener businesses said profit was unchanged from the previous year,
94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12
Factories ramping up for busier 2012 For a second straight year, fastener manufacturers operated at a higher percent of capacity during 2011. Inventory turnovers, finished goods on hand and raw material prices rose from the year before.
with an additional 2% showing "moderate" bottom-line declines. And fastener companies are overwhelmingly optimistic about their
prospects in 2012. The FIN Survey found nearly eight out of ten businesses — 79% —
forecast further sales growth in the coming months. Just under 60% expect "moderate" sales increases, while 21% anticipate "strong" revenue growth. Only 1% estimated a sales decline.
24 Fastener + Fixing Magazine • Issue 74 March 2012 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12
seen since the late 1990s. The 2009 figure of 59.3% was the lowest in the 17 years the FIN Survey has charted capacity. The FIN Survey is informal and not designed to be a scientific survey. Respondents are anonymous.
Manufacturer operating capacity climbed nearly 10 percentage points to a 73% average during 2011, approaching a level not SALES & PROFITS continued on next page
21% anticipate “strong” revenue growth. Only 1% estimated a sales decline. Profits are expected to improve as well, with 82% of survey participants predicting profit gains in 2012, including 61% who foresee a “moderate” profit rise and 21% who anticipate a “strong” increase in profit.
participants rated their confidence for 2010 as "very high." This year only 7% were
In 2011 the FIN Sales Index jumped to 4.3 from 3.8 the
previous year. At 4.2 the FIN Profit Index continued its rebound from 2009’s record low of 2.14. For the coming months the sales index forecasts growth to 4.5 and the profit index indicates an increase to 4.2.
negative on the economy. A 55% majority expressed
"moderate" confidence in the global economy. At 21% "low" ratings of the international marketplace bested 16% with "high" confidence.
NORTH AMERICAN ECONOMIC INDEX 3.7! 3.5!
n a year of widespread sales and profit growth, an additional 24% of businesses did not add workers to their payrolls last year, while 19% cut jobs, suggesting that fastener companies have learned to accomplish more with fewer employees. While virtually no companies projected job cuts in 2012, 50% said they had no plans to hire more workers, despite growing confidence in the North American economy and modest cost projections.
ECONOMIC CONFIDENCE JUMPS More than one-third of End of
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