STATE OF THE INDUSTRY - Far from Dead

The Printing Industries of America (PIA) reported that, for 1999, the industry's profit leaders averaged pre-tax income of 10.04 percent of sales. That percentage was up from 1996's 9.06 percent, 1997's 9.41 percent and 1998's 9.80 percent. The PIA also reported that operating income as a percentage of gross assets for these profit leaders was 15.28 percent in 1999, up from 1996's 12.96 percent, 1997's 14.53 percent and 1998's 14.55 percent.