News Digest 4021
News briefs from Oct. 25 – Nov. 10, 2010.
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November 10, 2010
Distribution Financial Metrics and Trading Multiples: 3Q 2010
This table highlights key financial metrics and trading multiples for 25 publicly traded distributors in the industrial and building products industries up to Sept. 30, 2010. Download this data below. Also find graphic illustrating median EBIDTA multiples for the same distribution companies.
These materials, prepared by Robert W. Baird & Co. for MDM, are for informational purposes only.
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MDM Interview: Kaman’s Expansion Strategy
On Nov. 1, Kaman Corp., Bloomfield, CT, reported third-quarter sales of $359.5 million. A key driver behind that sales growth was Kaman Industrial Technologies, the power transmission, bearing and motion control distribution arm of Kaman Corp., which posted a year-over-year sales increase of 37 percent in the quarter.
Steve Smidler recently took on the role of president at Kaman Industrial Technologies when T. Jack Cahill retired after serving in that post for 17 years. Smidler and Vice President of Marketing David Mayer spoke with MDM Associate Editor Jenel Stelton-Holtmeier at the Power Transmission Distributors Association 50th Anniversary Industry Summit in Phoenix about Kaman’s goals and the outlook for the industry.
MDM: As the new president of Kaman Industrial Technologies, what are your goals for the company, and how will your experience help you attain those goals?
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Commentary: One Way to Mute the Turmoil that Can Come with Change
Any shift in strategy or improvement in operations requires a shift in mindset.
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Building Blocks to a Profitability Mindset
Jonathan Byrnes, senior lecturer at MIT and author of new book Islands of Profit in a Sea of Red Ink, recently spoke with Editor Lindsay Konzak. Here is part 2 of that interview, covering steps distributors can take to make unprofitable business profitable. He also addresses how to incentivize your team to make these critical changes to how you do business.
MDM: You write in your book that 40 percent of every business is unprofitable. How can distributors make the changes necessary to reverse this?
Jonathan Byrnes: There are four building blocks. The first is the right information. In Chapter 6 I talk about profit-mapping. That will give a company information on the specific products bought by customers. That information can be put into a database program on the profitability of each one, and the company can figure out the best measure for profitability. By the way, that information can be developed by two people within a month or two. … I’ve done that with multibillion-dollar companies.
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Distributors Shift Focus to Growth
While the economic recovery has been slow, signs of it were still evident at the 50th Anniversary Power Transmission Distributors Association Industry Summit in Phoenix last month. The overall tone of the event was more positive than the previous, with hot-button issues focused on growth rather than tactics designed to just survive.
Those topics covered a spectrum of concerns, as evidenced by issues raised during the “Big Issues for Small Distributors Forum.” Here is a sampling of the discussion.
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Third Quarter 2010 Construction Spending
Download the pdf below for a look at construction spending trends year-to-date for the third quarter of 2010.
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Download this Issue in pdf Now: Nov. 10, 2010
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The Balance of Price and Value
Distributors and manufacturers say price sensitivity grew during the recession.
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