The Marble Institute of America (MIA) recently completed its third Performance Analysis Report for U.S. and Canadian natural stone fabricators. The survey was conducted in 2010 and contains an evaluation and interpretation of financial data solicited from fabricators. Like its predecessors in 2007 and 2009, the report provides one of the most comprehensive sets of benchmarks available on financial performance in the natural stone fabrication industry to date. The report is designed to provide fabrication shops with a tool to evaluate existing financial performance and to identify new ways to create improvement. Paul Menninger, Capitol Granite, LCC and a former Stone World Fabricator of the Year confirmed this, “The value of the MIA Performance Analysis Report to me and my organization at its basic level is two-fold,” he said. “One, it quantifies what it is we do at all levels in ways we never dreamed of, particularly when addressing financial institutions. Two, it historically tracks my key performance indicators and anonymously compares them to other fabricators of similar size. The value created for the investment cannot be compared anywhere else.”

Dick Laliberte, Ripano Stoneworks Ltd. and another former Stone World Fabricator of the Year agreed. “The MIA Report provides a scorecard that allowed our company to improve in areas where we may not be doing as well as the industry as a whole,” he said. “We have found that just looking at your own historical data does not uncover weaknesses that you may have in your company. By comparing yourself to your peers, you can spot the areas that need attention.”

The 23-page report is organized in the following sections, each designed to assist managers in specific areas of inquiry:

Executive Summary:Provides an overview of the study results, with emphasis on the difference between the typical firm and the high-profit company.

Detailed Results:
In-depth reporting of return on investment, income statement, balance sheet, financial ratios and productivity ratios is provided in this section of the report. Management commentary is provided to focus on the importance of these operating statistics.

Appendix: Finally, the appendix provides an overview of the survey methodology and detailed information on the calculation of the financial ratios used in the report.

As in previous years, MIA contracted with Profit Planning Group, the well-regarded association profitability and compensation analysis firm. Participants’ proprietary financial data was kept strictly confidential.

The survey results and final reports were provided at no additional cost to those firms that participated in the study. The Performance Analysis Report is now available for firms that did not participate in the survey through the MIA bookstore. The MIA member price is $199, and the non-member price is $349. To order online, visit store.marble-institute.com and click on the “Reference Materials/Studies” tab.