John Wolz

The percentage of fastener firms reporting sales increases dropped from 70% for 2006 to less than 50% for 2007, according to the End of 2007 FIN Survey. Profits were steady as the FIN Profit Index remained the same as the year before.

The 29th annual Fin Survey found that the FIN Sales Index for 2007 dropped to 3.3, its lowest level since 2002. The index was at 3.8 for 2006. The high was 4.4 in 2004 and the low was 2.6 for 2001.

During the 14 years of the FIN Sales Index the average is 3.7.

Manufacturers scored slightly higher than distributors on the FIN Sales Index – 3.4 to 3.3 as 55% of participating manufacturers reported sales increases, compared with 47.6% of distributors. Only 38.5% of importers reported sales increases for 2007.
Overall, 29.2% of the fastener industry reported sales decreases for 2007.

A total of 48.7% of FIN Survey participants reported sales increases for 2007.

At 3.3 the FIN Profit Index matched 2006. The average over the 14 years of the FIN Profit Index is 3.4.

Only 2001 and 2002 were lower than 2007. The high of 4.0 was hit four times: 1994, 1995, 1997 and 2004. The percentage reporting profit increases edged down from 47.5% reporting profit increases for 2006 to 43.3% for last year. More than a quarter (28.3%) reported 2007 profits decreased.
While 45% of manufacturers and 47.8% of distributors reported profit increases, only 23.1% of importers saw profits rise.

The full End of 2007 FIN Survey will be published later this month. �2008 FastenerNews.com