John Wolz

The percentage of fastener firms reporting sales increases dropped from 70% for 2006 to under half for 2007, according to the End of 2007 FIN Survey. Profits were steadier as the FIN Profit Index remained unchanged.
At 3.3 the FIN Sales Index for 2007 dropped to its lowest level since 2002 in the 29th annual FIN Survey. It was at 3.8 for 2006. The high was 4.4 in 2004 and 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 gains for 2006 to 43.3% for the just completed 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 said profits were up.
Projections for 2008 sales and profits are almost identical to what the industry anticipated for 2007. At 3.6 the FIN Index for profits matched the 2007 forecast and at 3.6 the sales figure was just a notch below 3.7 last year.
For 2008 a 59.3% majority forecast sales increases, but that percentage is down from 68.9% a year ago. And though 57.5% anticipate higher profits, the total was 65.5% last year.
\ �2008 FastenerNews.com