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Survey: Manufacturers Anticipate Meeting Revenue Goals

The majority of organizations within the U.S industrial sector are on target to meet or exceed their revenue goals, but many indicate that they are reducing overall spending in 2008, according to a survey of sector professionals by GlobalSpec. The Seventh Annual Industrial Indicator Survey conducted by the technical industry information services company finds that 81 percent of respondents say their company is on or ahead of revenue targets for the year. Sixty percent say their 2008 revenue will be ahead of 2007. Additionally, 41 percent say they have expanded sales into new markets in 2008, and 32 percent say they are increasing their sales and marketing spending. However, 41 percent of respondents say they are reducing overall spending this year. "According to our survey results, current economic conditions have not yet made a significant impact on the revenue targets of companies within the industrial sector, but there is concern over rising costs," says Angela Hribar, GlobalSpec's chief sales and marketing officer. Regarding cost concerns, 49 percent of respondents indicate that rising energy costs are an issue, with 44 percent citing healthcare costs and 41 percent indicating transportation costs.

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