Alexandria, VA (May 3, 2002) – Printing Industries of America (PIA), the world's largest graphic communications association, reports that 2001 is shaping up as one of the weakest ever for printing industry profitability. Preliminary findings from the 2002 PIA Ratios survey, sponsored by Heidelberg, PrintCafe and Potlatch, indicate that printers' before tax profits as a percent of sales fell to 1.5 percent last year. This is a reduction from the 3.1 percent reported in last year's survey and below the 1.95 percent rate achieved during the 1990-1991 recession. Profit leaders, those firms in the top 25 percent of profitability, are also taking a hit as their preliminary rate dipped to 8.4 percent from 10.5 percent a year ago. If this rate holds course as a final number, it will be the first time profit leaders have earned less than 9 percent on sales since 1993. According to Dr. Ron Davis, PIA Chief Economist "While these numbers are based on preliminary returns, they show the tough times the industry has faced over the past year. It looks like industry profits may total less than $2.5 billion in 2001, a fall to less than 50 percent of their normal amount". The 2002 Ratios survey is currently underway and printers have until May 15 to participate and receive a free report, valued at $99 for PIA members and $199 for nonmembers. To participate go to PIA's Web portal, www.GAIN.net or call Leah Beyers at 703-519-8176.