DeWese--Surprising Facts in an Industry Study
So far, printing is growing faster, is more profitable and has less debt. And, some have said that print is dying and is an old, smoke stack, dirty business.
On the other hand, printing is becoming more and more productive, thanks to great people and automation through our conversion to digital throughput. We produced more printing to the tune of 17.84 percent for the years 1996 through 1999 with 5 percent fewer companies. Some of those 5 percent were acquired in the printing industry consolidation wave of 1996-1998; others simply shut down when the owners decided to retire, and a few went bankrupt and closed. Meanwhile, however, "all commercial printing" alone grew from sales of $88.1 billion in 1996 to $102.7 billion in 1999.
By the way, we paid our fair share of state, local and federal taxes. I'll bet you would have never guessed that this year—2000—the printing industry will pay taxes in excess of $3 billion.
Here are some other general findings in our unpublished report.
Fact: You salespeople have done a good job gradually raising prices.
Fact: Printing industry employees work harder and more hours than other private-sector companies. The average printing company employee works 38.1 hours per week versus 34.5 for all other private-sector companies. Printing employees, on the other hand, earn 13.3 percent more than employees in the private sector.
Here's one that will knock your socks off! The printing industry is adding employees faster than all but two of all the 20 manufacturing sector industries.
Finally, PIA has just reported in its quarterly Print Market Survey, that printers in both the U.S. and Canada have reported sales growth of 7.3 percent for the first quarter (three months ended March 31) of 2000.
If you salespeople will close your eyes and listen real hard, it will be my cheers and applause that you hear. You are ferreting out new opportunities and it appears you are raising prices. Price increases, as you know, are part of the selling price and, hence, part of the sales growth our industry is experiencing.