Sales increased 17 percent in 2010 compared to 2009
A report on the results of the Bearing Specialists Association (BSA) 2011 Distributor Survey revealed strong sales and an improving economy. The data, reported by Carl James, BDI-Canada, at the BSA 45th Annual Convention, revealed that in 2010 the aggregate sales volume for participating distributors was $2,250,000,000 this represents an increase of 17.2% over the 2009 volume of $1,920,000,000. Estimates are that 2011 will continue this trend with a gain of 7.8%.
As James pointed out, if the industry grows 12% in 2011, “we reach $2.70 Billion in Sales and Exceed 2008 in 2011.” A closer look at the end-users reflects a changing, dynamic, and perhaps more resilient marketplace than originally expected.
Distributors also demonstrated increased productivity – and comparable profitability as well – by holding the line on hiring. In 2010 survey respondents reported the aggregate number of employees had grown to 17,000, an increase of just 1.8% over 2009. In 2007 the aggregate number of employees was 17,600; this number fell to 16,600 in 2008.
In presenting the survey results, James noted that this was the fifth year for the BSA Distributor Survey. Survey results in 2011 were based on 25 BSA member respondents among 40 BSA members. Respondents represent 90% of the dollar value of bearings sold through BSA members. The report is prepared by the Profit Planning Group LLC (PPG). Completed surveys are sent directly to PPG where they are held in confidence. PPG accumulates data and reports the results.