Financial Printing--Strength In Numbers
Financial printing is benefiting from a robust M&A market, continued mutual fund surges and (surprise!) the Internet, as 2000 sets its sights on Wall Street.
In 1997, the financial printing market was considered by some financial printers to be the hottest bull market in modern history. By the end of 1998, the same financial printing insiders were less enthused, dubbing 1998 a year of difficult "highs and lows," as the financial printing market and its lifemate—Wall Street—rode out a year that, for the market's competitive printers, was burdened with a dramatic downturn of transactional business.
Then came 1999—thank goodness.
|Top 10 Financial Printers|
|1||R.R. Donnelley & Sons
|2||Bowne & Co.
St. Paul, MN
|4||Global Financial Press
|5||Cunningham Graphics Int'l
Jersey City, NJ
|6||Applied Printing Technologies
New Providence, NJ
|8||Henry Wurst, Inc.
North Kansas City, MO
John A. Greco Jr., senior vice president of marketing and business development at Chicago-based R.R. Donnelley Financial, contends 1999 will be recorded as one of the best years in the firm's history. The business unit generated record revenues as the result of a continued boom in the global capital markets, the expansion of mutual fund and other retirement-based investment offerings, and headway in its new healthcare communications group.
Donnelley Financial was not alone. While holding the No. 1 spot on Printing Impressions' Top 10 Financial Printers list, with 10 percent (or $500 million) of Donnelley's total sales coming from financial printing, Donnelley was just one (albeit No. 1) of several leading financial printers that surpassed their segment revenues over 1998. Compared to last year, in which the firm reported $485 million in financial printing sales, segment revenues were up $15 million.
Another major player reporting a considerable increase in financial printing in 1999 was No. 3 ranked Merrill Corp. With 40 percent of its total business being financial printing, Merrill saw an increase of some $19 million in segment sales over the previous year. The St. Paul, MN-based company generated $203 million in financial printing in its most recent fiscal year, compared to $185 million the previous year.