Financial Printing--Strength In Numbers
No. 5 ranked Cunningham Graphics, with 45 percent of its business being financial printing, more than doubled its segment revenues by increasing its sales from $24 million in the previous fiscal year to $50 million in the most recent reporting period.
Interestingly enough, while most of 1999's Top 10 Financial Printers reported either an increase in segment sales, or at least maintained their previous year's figures, one printer—No. 2 ranked Bowne & Co., of New York—showed a substantial decline in financial printing revenues in its most recent fiscal year. Despite its whopping $356 million in segment sales, the firm reported generating $372.6 million in financial printing revenues the previous fiscal year—a decrease of $16.6 million.
Another note of interest on the 1999 Printing Impressions Top 10 Financial Printers list is the exclusion of Cadmus Communications, ranked No. 4 in 1998. Earlier this year, Cadmus announced that it had sold its $43 million Financial Printing division to R.R. Donnelley & Sons, claiming "the divestitures were part of an ongoing strategy to streamline the company's business units and focus its resources in select, niche markets," which Cadmus believes are poised for aggressive growth. Once a leader in financial printing, Cadmus Communications doesn't compete in that segment anymore.
From one major player (Cadmus) dropping out of the race all together to another (R.R. Donnelley Financial) maintaining its No. 1 ranking for a third consecutive year, the world of financial printing ran the gamut of possibilities in 1999.
From a bull of a year in 1997 to a bit of bear last year, 1999 was, for the most part, back to being bullish—which made it a lot more "bearable" for financial printers across the land.
A Financial Year-end "Wrap" from No. 1: R.R. Donnelley
"Donnelley Financial made significant investments in both new electronic product offerings and physical facilities in 1999," reports John A. Greco Jr., senior vice president of marketing and business development at R.R. Donnelley Financial. "Donnelley Financial acquired Cadmus Financial Communications; added new facilities in Austin, TX, and Kirkland, WA; and expanded existing service centers in locations across the country.