Labor Unions Industry Profile

8/13/2019 Labor Unions Industry Profile

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NAICS CODES: 81393

SIC CODES: 8631

FULL INDUSTRY PROFILE

Labor Unions8.19.2013

Industry Overview

The US labor union industry includes about 15,000 organizations; the largest unions have annual revenue between$100 million and $300 million. Major organizations include the American Federation of Labor and Congress of IndustrialOrganizations (AFL-CIO); the National Education Association; the Service Employees International Union; and theNational Association of Letter Carriers.

Business and job growth drive demand. The profitability of individual organizations depends on ability to growmembership . Large unions have stronger bargaining power and advantages in marketing and finance. Small unionscan serve a local market or individuals in specialized industries or professions.

The majority of revenue comes from member dues , including fees from individual workers and other unions. Unionsmay also generate revenue from investment income . Industry sectors with strong union participation includegovernment and education, training, library, and protective services.

National unions may have local, state, regional, or international chapters , also known as affiliates or delegates .

Unions may belong to larger unions, such as the American Federation of Labor and Congress of IndustrialOrganizations (AFL-CIO). An individual union's membership can vary: local chapters may have less than 100 memberswhile national organizations claim millions.

Unions represent groups of workers within common industries or professions. Closed shop employers require unionmembership of workers, but union membership is optional in open shop employers. Some states have Right-To-Work(RTW) laws , and prohibit union membership as a condition of employment. In RTW states, unions may representworkers without union affiliation.

Unions negotiate with management to establish general employment terms, including fair wages, health benefits,pension plans, safety requirements, job security, and overtime compensation. Contracts may include workerinvolvement in major corporate policy decisions. Due to collective bargaining , union workers generally earn more thannonunion. Unions also enforce contract terms and typically have established grievance procedures for violations.Contracts are generally renegotiated every few years. If unions and management can't agree, the union may order awork stoppage or a strike. Forms of protest include picket lines and boycotts .

Unions also lobby for legislation favorable to the members and industries represented. Unions may endorse politiciansand political causes that support membership goals. Many political candidates eagerly pursue union endorsements, asmemberships can represent a large number of constituents and provide grassroots campaign support. Unions mayhave separate political action committees (PACs) to raise and donate funds to favorable political parties.

Unions often dedicate local resources to organizing new chapters . To start a new chapter, interested workers mustfile a petition to hold a union election with the National Labor Relations Board (NLRB). The petition must havesupport from at least 30 percent of the workforce. The NLRB conducts elections and, with a majority vote, certifies unions as designated bargaining representatives. Depending on contract terms, unions may administer certain benefits(such as pensions and health insurance plans) typically managed by employers. Some unions offer worker training,education, and certification.

Competitive Landscape

Products, Operations & Technology

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Unions employ labor lawyers and mediators to negotiate contracts and resolve disputes. Other jobs may requireexpertise in accounting; administrative, healthcare plan, or pension management; and health and safety procedures.

Unions may use computerized information systems to manage basic accounting and financial data. Database systemstrack membership information and dues. Unions may collect dues through automatic deduction programs administered through employer payroll systems.

About 15 million US workers belong to unions. Workers more likely to be union members include men 55 to 64, publicsector employees, and African Americans . Membership may include both active or retired members.

Unions may use the Internet to communicate general organization information, including mission statements,constitutions, member benefits, political affiliations, and local chapter contacts. Websites allow unions to post criticalinformation, such as contract negotiation status, faster than traditional methods allow. To solicit membership opinions,unions may conduct Internet surveys. Blogs, chatrooms, and bulletin boards foster communication among members.

Marketing includes newsletters, direct mail, email, and phone calls. Local chapters of large unions may developgrassroots efforts to organize new chapters. Unions may issue reports or press releases to communicate opinionsand positions on important membership issues.

Members typically contribute monthly dues based on a percentage or number of hours of pay. Consequently, thegross amount of dues increases as overall pay increases. Members may pay an initiation fee to join.

Member dues generate the majority of cash flow. A portion of dues may go to funding local, national, or internationaldelegations. Large unions may loan funds to smaller chapters to cover big expenses, such as extended contractnegotiations or lawsuit settlements. Unions may also have strike funds to help support members during workstoppages.

Payroll can be a significant expense because many union officers and staff, including lawyers and lobbyists, havespecialized expertise and command high salaries. Other costs include lobbying, contributions and grants to localaffiliates, overhead, and administrative. Unions must disclose the percentage of dues spent on bargaining versuspolitical activities.

The US Department of Labor regulates financial reporting for unions. The National Labor Relations Board (NLRB) governs the relationship among unions, workers, and management. The Labor-Management Reporting and Disclosure

Act guarantees certain rights for union members (such as voting) and provides financial safeguards. Members may sueemployers or unions for unfair labor practices , such as failing to process a grievance. Federal "Beck" laws allowunion members to withhold the portion of dues used to subsidize political spending. Most labor unions are nonprofit andtax-exempt.

Some large unions have international affiliates. Compared to the US, most European countries have higher unionparticipation rates. Union workers are about 30 percent of the Canadian workforce.

Workers in Pacific and Middle Atlantic states are more likely to belong to unions. States with large union workforcesinclude California , New York , Illinois, Michigan , Pennsylvania , and New Jersey . States with high union membershiprates include New York , Alaska , Hawaii , and Washington . States with the lowest membership rates are North Carolina ,Georgia , Virginia , and Mississippi . More than 20 states, including many in the southern and mountain regions, haveright-to-work (RTW) laws that prohibit mandatory union membership as a condition of employment.

Unions generally require workers with professional skills . Average hourly wages for workers employed by unionoffices are significantly higher than the national average. Jobs may require specialized education or experience in fieldssuch as employment and labor law, government and international affairs, worker health and safety issues, or PR.Unions may dedicate resources to managing Social Security, Medicare, pension, retirement, and health insuranceprograms. Union representatives typically receive extensive training in negotiation and dispute resolution .

Sales & Marketing

Finance & Regulation

International Insights

Regional Highlights

Human Resources




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An elected board of officials governs each union chapter and ensures that the organization adheres to a set of rulesor a constitution .

Industry Employment GrowthBureau of Labor Statistics

Average Hourly Earnings & Annual Wage IncreaseBureau of Labor Statistics

Industry Growth Rating

Demand: Driven by business and job growthNeed to grow membershipRisk: Automation and outsourcing replace organized labor




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Recent News

Unemployment and inequality challenge global growth, warn unions on eve of G20 Summit

Talking Union, 04 Sepember, 2013

One in eight people can no longer pay for basic living expenses - new international poll by global unions ITUC Stalled g

developed economies and emerging markets, rising unemployment and increasing income inequality...

GOP Tries to Turn Labor Day into "Nation of Builders" Day

Talking Union, 03 Sepember, 2013

by Martin Kich In Congressional Republicans' weekly radio address, ostensibly commemorating Labor Day, Rep. Mike

Pennsylvania) never mentions unions, organized labor, or collective bargaining. In fact, he uses...

Hey, We're Listening to You

AFL-CIO, 03 Sepember, 2013

In the months leading up to the 2013 AFL-CIO Convention, we've been listening to people online and in our communitie

listening sessions, hearing your ideas on how we can build a more robust movement for working people...

View All News

Industry Indicators

US corporate profits, which may affect labor contract negotiations, rose 4.5 percent in the first quarter of 2013compared to the same period in 2012.

US personal income, a measure of total employee compensation costs which is an important factor in unionnegotiations, rose 3.1 percent in June 2013 compared to the same month in 2012.

Industry Forecast

The output of US business, professional, labor, political, and similar organizations, which include labor unions, isforecast to grow at an annual compounded rate of 4 percent between 2013 and 2017. Data Published: March 2013

Labor, Business, and Political Group Growth Flat




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First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic ResearchFund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy capturesthe links between industries and the aggregate economy. Forecast FAQs

Industry DriversChanges in the economic environment that may positively or negatively affect industry growth.

Data provided by First Research analysts and reviewed annually

Energy Prices Change in crude oil and related energy prices

Commodity Prices Changes in prices for commodities, such as crops, metals, and other raw materials

Critical Issues

Increasing Employment Costs - Many employers are struggling to cover rising employment costs and demandingmore concessions from unions during contract negotiations. Because union workers typically earn more than nonunionworkers, bargaining for significant increases in compensation can be a challenge. Even concessions considerednecessary for a company's survival can anger union membership.

Membership Depends on Industry Dynamics - As US industries evolve and adapt to increasingly competitivemarkets, many companies are making fundamental changes that can affect union membership. Automation andtechnology have replaced many jobs with machines in many union-dominated industries, including auto manufacturingand railroad and postal operations. To cut costs, many corporations in manufacturing and service sectors have movedtraditional union jobs to lower wage countries. Mergers by large corporations reduce union negotiating power. Weakindustry performance can reduce labor needs and erode a union's membership base. Struggling industries are alsolikely to resist unions' attempts to organize new chapters.

Business Challenges

Labor Cost Disadvantage - In the struggle to compete globally, US corporations often blame unionized workforces forhigh labor costs. Some experts cite unionization in the public sector as one cause of bloated government spending andbureaucracy. In 2011, union workers earned nearly 30 percent more than nonunion. High labor costs have driven




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production in many industries overseas or to right-to-work states, resulting in significant job losses and compromisingunion influence.

Aging Labor - Union membership is highest among workers aged 55 to 64. Convincing young people to join unions iscrucial for growth and stability. Union revenues largely come from dues. However, many younger workers considerunions to be irrelevant.

Questionable Spending on Political Activity - Controversial spending on political activity has led union members, thegovernment, and the public to question the true motives of union officials. Union PACs are some of the largest lobbying

organizations in the US and their spending has doubled in recent years. Many union members are questioning theamount of dues dedicated to political activity, especially since membership can have diverse party affiliations. While nottechnically considered donations, some unions have dedicated significant resources to voter mobilization for individualcandidates.

Union Leadership Issues - Questionable activity by some prominent union leaders has created an environment ofdistrust among union members and the public. Well-publicized incidents of financial abuse and criminal activity by someunion leaders have hurt credibility. Disagreements among union leaders have resulted in disbanding of organizedunions. Members want more for their dues and criticize union bureaucracy for creating unnecessary expense.

Business Trends

Long-Term Declining Membership - Total union membership has fallen while total US employment has grownsteadily in recent years (although overall employment dropped during the recession on the late 2000s). Union workersas a percentage of all workers fell from 20 percent in 1983 to about 12 percent in 2011. The continuing shift from amanufacturing- to a service-driven economy contributes to declining union membership. In addition, national organizedlabor's focus on political spending comes at the expense of forming new unions. Unions are expected to continue tostruggle to maintain membership.

Increasing Retiree Population - With more baby boomers leaving the workforce, the population of retirees shouldgrow and increase demand for retirement benefits, such as pensions and healthcare. The population 65 and up isprojected to rise by more than 35 percent between 2010 and 2020, compared to a 10 percent increase in the USpopulation as a whole. Corporations or unions with unfunded pensions, which pay benefits based on existing workers'and members' contributions, may struggle to fulfill obligations. Pensions and healthcare are costly and funding hasbeen a critical issue in many union negotiations.

Health Care Reform - The passage and subsequent Supreme Court ratification of the Affordable Care Act will have asignificant effect on unions. The AFL-CIO supported the law, which extends worker health care benefits. However,unions had initially fought the bill, because it would tax the so-called Cadillac health plans, which offer the bestbenefits at the highest cost, and which many union members have. Under the law, union plans will be exempt from thetax until 2018.

Industry Opportunities

Organizing New Chapters - With employment declining in key industries, unions can target workforces in new areas togrow membership. Unions have grown membership in a few industries, especially in the public sector. Education,training, and libraries have the highest union membership rate, at 37 percent. Large unions typically provide specialtraining and resources for new union organizers.

Merging Memberships - By merging with similar organizations or targeting workers in alternative industries, unionscan develop bigger, stronger membership bases. Combining workforces of complementary industries can create largermemberships, which allow unions to negotiate better group discounts for benefits, and increase union bargaining powerwith employers. Initially created for autoworkers, United Auto Workers (UAW) also represents workers in theaerospace, farm vehicle, state and local government, and casino industries.

Targeting Immigrants - Immigrants are a sizable, growing segment of the US population and typically work inindustries with high union involvement. Foreign-born workers were nearly 16 percent of the US labor force in 2011 andtypically earned lower wages than native-born workers. Immigrants are more likely to work in service, production,transportation, or material moving industries.




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Offering Worker Education - Unions can attract new members by offering education or training that can help workersfind jobs. By partnering with corporations and state or local governments and developing apprenticeship programs,unions provide value, develop worker skills, and establish new union memberships. Unions may certify memberswho've reached a certain level of expertise. Some unions offer scholarships for members to pursue advanced degrees.

Alternative Membership Formats - To drive membership and expand union presence, organizations may developdifferent membership formats for various targets. Associate memberships allow workers without formal affiliations tosupport unions. Student memberships help unions establish relationships with potential workers. Retiree membershipshelp maintain union membership bases.

Executive Insight

Growing Membership As the US market evolves, many union-dominated industries, especially those in manufacturing, s truggle to survive.Decreasing demand and productivity initiatives reduce labor needs, shrinking current and potential union membership.Small unions may merge with large unions to maintain critical mass. To grow, national unions may focus onestablishing chapters in new geographic markets and industry sectors.

Negotiating Favorable Contracts Due to increasing global competition and cost-cutting, corporations are negotiating harder and unions are forced tomake more concessions. Despite the passage of the Affordable Care Act, health care will remain a major sticking pointfor unions and employers. Under the act, these benefits are grandfathered in, but when the collective bargainingagreement expires, they will lose that status.

Increasing Financial Transparency Well-publicized incidents involving union officials, high salaries, and financial fraud have resulted in general mistrust bymany members. Union members demand more accountability, especially regarding compensation for officials andpolitical activity. By making financial information readily available through annual reports and websites, unions can helprebuild trust.

Adhering to Lobbying Regulations Excessive spending on lobbying has caused many members to question union strategy. Federal laws require unions todisclose the percentage of dues spent on bargaining versus political activities. Although somewhat controversial, someunions provide volunteers for campaigns, to avoid spending funds from member dues.

Automating Dues Payment Membership dues are unions' main source of revenue. Relying on members to make payments manually can result inhuman error, and collecting dues can be tedious. Automatic payroll deduction programs allow unions to collect dueselectronically through employer payroll systems, resulting in faster payment and reductions in lapsed dues.

Leveraging the Internet Large unions can have millions of members, and basic communication can be expensive and time-consuming. Evenlocal chapters can have memberships too large for staff to effectively manage. The Internet allows unions tocommunicate a wide variety of timely information cost-effectively. Some unions use websites to post critical news,including contract negotiation status and election results.

Resolving Grievances Violations of union contracts, by both management and workers, can cause workplace tension and lead to difficultfuture negotiations. Resolving grievances objectively can reduce problems and help maintain good workingrelationships. Most unions have established grievance procedures that ensure proper representation for all parties.Local union representatives are typically trained to handle conflict resolution and mediation.

Chief Executive Officer - CEO

Chief Financial Officer - CFO

Chief Information Officer - CIO

Human Resources - HR




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Administering Benefits With rising healthcare and retirement costs, benefits have become a vital part of worker compensation. During tougheconomic times, corporations often cut benefits. To maintain quality compensation packages for members, unions willsometimes take over administration of certain benefits and may use employer funds to help cover costs. Union-sponsored programs also allow workers to enjoy benefits employers don't offer.

Organizing New Chapters With existing membership declining, unions must find alternative ways to grow. Decreasing employment in keyindustries, such as auto manufacturing, has hurt union membership and influence. Organizing new chapters bytargeting nontraditional industries or smaller geographic markets can help re-energize the union movement. Many largeunions dedicate resources to form new chapters at a local level.

Providing Member Training and Education As labor needs change, union members' skills can become obsolete. By providing ongoing training and education,unions can help members augment or learn skills and adapt as industries evolve. Offering certification allows membersto reach a recognizable level of achievement that can have value in other industries. Apprenticeship programs helpunions identify potential members early in their careers. Education benefits, such as tuition assistance, help attract newmembers, particularly younger workers looking to continue their schooling.

VP Sales/Marketing - Sales

Executive Conversation Starters

How does the organization plan to increase membership? Small unions may merge with large to maintain critical mass. National unions may focus on establishing chapters innew geographic markets and industry sectors.

What critical issues are discussed during the organization's contract negotiations? Despite the passage of the PPACA, healthcare remains a major sticking point for union negotiations.

How does the organization promote fiscal accountability? By making financial information readily available through annual reports and websites, unions better establish trust withmembers.

How does the organization support political causes? Although somewhat controversial, some unions offer political support without spending funds from member dues byproviding volunteers for campaigns.

How has/can technology help the organization manage dues payments? Automatic payroll deduction programs allow unions to collect dues electronically through employer payroll systems,resulting in faster payment and reductions in lapsed dues.

What is the organization's Internet strategy? The Internet allows unions to communicate a wide variety of timely information cost-effectively. Some unions usewebsites to post critical news, including contract negotiation status and election results.

How does the organization handle grievances and contract violations? Most unions have established grievance procedures that ensure proper representation for all parties. Local unionrepresentatives are typically trained to handle conflict resolution and mediation.

How involved is the organization in benefit administration? Unions will sometimes take over administration of certain worker benefits or sponsor programs employers don't offer.

Chief Executive Officer - CEO

Chief Financial Officer - CFO

Chief Information Officer - CIO

Human Resources - HR




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How does new chapter formation fit into the organization's strategy? Organizing new chapters by targeting nontraditional industries or smaller geographic markets can help re-energize theunion movement.

How important is continuing education to the organization's membership? By providing ongoing training and education, unions can help members augment or learn new skills and adapt as

industries evolve. Unions may offer certification, apprenticeships, and tuition assistance.

VP Sales/Marketing - Sales

Call Prep Questions

How have changes in employment costs affected the organization's bargaining position?Many employers are struggling to cover rising employment costs and demanding more concessions from unions duringcontract negotiations.

How do industry dynamics affect the organization's membership? As US industries evolve and adapt to increasingly competitive markets, many companies are making fundamental

changes that can affect union membership.How has the organization countered company statements that unions keep them from being able to effectivelycompete?In the struggle to compete globally, US corporations often blame unionized workforces for high labor costs.

How successfully has the organization formed new chapters?With employment declining in key industries, unions can target workforces in new areas to grow membership.

What partnerships could help the organization grow membership?By merging with similar organizations or targeting workers in alternative industries, unions can develop bigger, strongermembership bases.

How important are immigrants to the organization's membership base? Immigrants are a sizable, growing segment of the US population and typically work in industries with high unioninvolvement.

What are the organization's priorities during contract negotiations? Unions negotiate with management to establish general employment terms, including fair wages, health benefits,pension plans, safety requirements, job security, and overtime compensation.

How do member wages compare to wages for nonunion workers? As a result of collective bargaining, union workers generally earn more than nonunion.

What problems has the organization had when handling grievances? Unions enforce contract terms and typically have established grievance procedures for violations.

How often does the organization renegotiate contracts? Contracts are generally renegotiated every few years.

How important is lobbying to the organization's mission? Unions lobby for legislation favorable to the members and industries represented.

What role do political action committees play in the organization's lobbying efforts? Unions may have separate PACs to raise and donate funds to favorable political parties.

How successful has the organization been in winning union elections?To certify a union as a bargaining representative, a majority of workers must vote in favor of organizing in a NationalLabor Relations Board (NLRB)-sanctioned union election.

Conversation Starters

Operations, Products, and Facilities




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What are the organization's primary sources of revenue? The majority of revenue comes from member dues, including from individual workers and other unions. Unions mayalso generate revenue from investment income.

What value do the organization's outside affiliations provide? National unions may have local, state, regional, or international chapters, also known as affiliates or delegates. Unionsmay belong to larger unions, such as the AFL-CIO.

How many members does the organization have?

An individual union's membership can vary: local chapters may have fewer than 100 members while nationalorganizations claim millions.

What is the organization's membership demographic? Workers more likely to be union members include men 55 to 64, public sector employees, and African Americans.

How has the Internet changed the organization's operations? Unions may use Internet sites to communicate general organization information and post critical updates, such ascontract negotiation status, faster than traditional methods might allow.

How have members responded to the organization's website? To solicit membership opinions, unions may conduct Internet surveys. Blogs, chatrooms, and bulletin boards fostercommunication among union members.

What are the organization's most effective marketing vehicles? Marketing includes newsletters, direct mail, email, and phone calls.

What marketing does the organization use to organize new chapters? Local chapters of large unions may develop grassroots efforts to organize new chapters.

How important is PR to the organization's marketing strategy? Unions may issue reports or press releases to communicate opinions and positions on important membership issues.

What are average dues for the organization's members? Members typically contribute monthly dues based on a percentage or number of hours of pay. Members may pay aninitiation fee to join.

What types of financial reporting issues has the organization had? The US Department of Labor regulates financial reporting for unions.

What kind of relationship does the organization have with the National Labor Relations Board? The National Labor Relations Board (NLRB) governs the relationship among unions, workers, and management.

What legal issues has the organization faced regarding member rights? The Labor-Management Reporting and Disclosure Act guarantees certain rights for union members, such as voting,and provides financial safeguards. Members may sue employers or unions for unfair labor practices, such as failing toprocess a grievance.

How do members feel about the organization's political spending? Federal "Beck" laws allow union members to withhold the portion of dues used to subsidize political spending.

How do right-to-work laws affect the organization's operations? More than 20 states, including many in the southern and mountain regions, have right-to-work (RTW) laws that prohibitmaking union membership a condition of employment.

What international opportunities is the organization considering? Some large unions have international affiliates.

Customers, Marketing, Pricing, Competition

Regulations, R&D, Imports and Exports

Organization and Management




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What experience does the organization look for when hiring workers? Jobs may require specialized education or experience in fields such as employment and labor law, government andinternational affairs, worker health and safety issues, or PR.

What benefits does the organization administer? Unions may dedicate resources to managing Social Security, Medicare, pension, retirement, and health insurance.

What training does the organization offer local representatives? Union representatives typically receive extensive training in negotiation and dispute resolution.

How active are the organization's board members? An elected board of officials governs each union chapter and ensures that the organization adheres to a set of rules ora constitution.

How does the organization manage cash flow from membership dues? Member dues generate the majority of cash flow.

What financial obligations does the organization have to other delegations or affiliates? A portion of dues may go to funding local, national, or international delegations.

How does the organization cover unexpected expenses? Large unions may loan funds to smaller chapters to cover big expenses, such as extended contract negotiations or

lawsuit settlements.What member support does the organization provide during strikes? Unions may have strike funds to help support members during work stoppages.

What is the organization's largest expense? Payroll can be a significant expense, as many union officers and staff, including lawyers and lobbyists, have specializedexpertise and command high salaries.

What are the organization's biggest cost-savings opportunities? Major expenses include payroll, lobbying costs, contributions and grants to local affiliates, overhead, and administrativecosts.

What challenges does the organization face in accounting for political spending?Unions must disclose the percentage of dues spent on bargaining activities versus political activities.

How does the organization manage member information? An individual union's membership can vary: local chapters may have less than 100 members while nationalorganizations claim millions. Database systems can track membership information and dues.

How is the organization improving the public perception of unions?Questionable activity by some prominent union leaders has created an environment of distrust among union membersand the public. Well-publicized incidents of financial abuse and criminal activity by some union leaders has hurtcredibility.

How has the organization's membership changed over time? Union membership is declining. Women, "mature" workers, and immigrants are growing sectors of the US workforce.

What are the organization's biggest issues regarding worker benefits? Healthcare and pension funding have become important issues during union negotiations.

Financial Analysis

Business and Technology Strategies

Financial Information

Quick Ratio by Company Size

COMPANY BENCHMARK TRENDS




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The quick ratio, also known as the acid test ratio, measures a company's ability to meet short-term obligations with liquidassets. The higher the ratio, the better; a number below 1 signals financial distress. Use the quick ratio to determine ifcompanies in an industry are typically able to pay off their current liabilities.

Data Period Last Update July 2013

Table Data Format Mean

Company Size All Large Medium Small

Size by Revenue Over $50M $5M - $50M Under $5M

Company Count 14343 16 79 14248

Income Statement

Net Sales 100% 100% 100% 100%

Gross Margin 82.4% 80.4% 81.8% 84.8%

Officer Compensation 2.2% 1.9% 2.0% 2.5%

Advertising & Sales 0.3% 0.3% 0.3% 0.3%

Other Operating Expenses 77.6% 75.6% 77.4% 79.8%

Operating Expenses 80.1% 77.8% 79.7% 82.5%

Operating Income 2.4% 2.6% 2.1% 2.2%

Net Income 1.8% 1.9% 1.8% 1.7%

Financial industry data provided by MicroBilt Corporation collected from 32 different data sources and represents financialperformance of over 4.5 million privately held businesses and detailed industry financial benchmarks of companies in over 900industries (SIC and NAICS). More data available by subscription or single report purchase at www.microbilt.com/firstresearch .

COMPANY BENCHMARK INFORMATION

NAICS: 81393




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Balance Sheet

Cash 32.5% 30.6% 28.1% 36.1%

Accounts Receivable 6.7% 7.2% 7.1% 5.9%

Inventory 0.3% 0.4% 0.4% 0.3%Total Current Assets 52.9% 51.3% 49.2% 56.0%

Property, Plant & Equipment 32.5% 33.0% 35.7% 30.8%

Other Non-Current Assets 14.6% 15.7% 15.2% 13.2%

Total Assets 100.0% 100.0% 100.0% 100.0%

Accounts Payable 8.0% 7.8% 7.8% 8.2%

Total Current Liabilities 22.6% 21.6% 23.0% 23.6%

Total Long Term Liabilities 27.5% 27.7% 28.0% 27.2%

Net Worth 49.9% 50.7% 49.0% 49.2%

Financial Ratios

(Click on any ratio for comprehensive definitions)

Quick Ratio 2.10 2.12 1.90 2.14

Current Ratio 2.34 2.37 2.14 2.37

Current Liabilities to Net Worth 45.3% 42.6% 46.8% 48.0%

Current Liabilities to Inventory x68.43 x58.41 x65.62 x81.43

Total Debt to Net Worth x1.00 x0.97 x1.04 x1.03

Fixed Assets to Net Worth x0.65 x0.65 x0.73 x0.63

Days Accounts Receivable 48 56 50 39

Inventory Turnover x26.79 x25.26 x26.93 x28.92

Total Assets to Sales 200.2% 215.8% 197.1% 184.9%

Working Capital to Sales 60.7% 64.1% 51.6% 59.8%

Accounts Payable to Sales 15.6% 16.5% 15.0% 14.9%

Pre-Tax Return on Sales 2.9% 3.0% 2.8% 2.8%

Pre-Tax Return on Assets 1.4% 1.4% 1.4% 1.5%

Pre-Tax Return on Net Worth 2.9% 2.8% 2.9% 3.1%

Interest Coverage x1.29 x1.31 x1.09 x1.34

EBITDA to Sales 7.1% 5.7% 7.2% 8.4%

Capital Expenditures to Sales 8.7% 8.5% 9.1% 8.9%




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Financial industry data provided by MicroBilt Corporation collected from 32 different data sources and represents financialperformance of over 4.5 million privately held businesses and detailed industry financial benchmarks of companies in over 900industries (SIC and NAICS). More data available by subscription or single report purchase at www.microbilt.com/firstresearch .

Industry WebsitesAmerican Federation of Labor and Congress of Industrial Organizations (AFL-CIO) Union facts and news.

Bureau of Labor Statistics Labor force statistics and Monthly Labor Review publication.

Bureau of National Affairs (BNA) News and statistics (some require purchase).

Canadian Labour Congress News, advocacy, and links.

Department of Labor Labor news, trends, statistics, union financial and collective bargaining agreement reports.

Labor Notes News from pro-union non-profit organization.

National Institute for Labor Relations Research News and research from anti-union non-profit organization.

National Labor Relations Board National union statistics and trends, legislative activity, and news from federal governmental agency.

Glossary of AcronymsNALC - National Association of Letter Carriers

NEA - National Education Association

NLRB - National Labor Relations Board

PAC - political action committee

RTW - right-to-work

SEIU - Service Employees International Union Committee

UAW - The International Union, United Automobile, Aerospace and Agricultural Implement Workers of America


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Labor Unions Industry Profile

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