When the going gets tough, the tough still produce a profit
For most frms, 2008 qualifies as a year to file and forget. The financial results for recession years, however, offer some extremely valuable insights into what distinguishes the outstanding firm from the more typical firm. An analysis of the results for 2008, therefore, can be very insightful.
The recently completed 2009 EASA Operating Performance Report (of 2008 data) provides detailed financial and operating benchmarks for the industry. It indicates that many firms struggled to some extent. Some firms, however, continued to prosper despite sales and margin pressures. The differences between the typical firm and the high-profit firm are signifcant.
This article is based on 139 participants in the EASA 2009 Operating Performance Survey.