4imprint's Sales Rose 41% in 2021, Nearing Pre-Pandemic Levels
4imprint, Oshkosh, Wisconsin, announced last week that its 2021 full-year sales were up 41% over 2020, bringing the distributor close to its pre-pandemic numbers.
The company reported 2021 revenues of around $787 million, according to a release published at Morningstar. That figure is 90% of 4imprint's pre-pandemic numbers in 2019, which the company said "[demonstrates] a strong recovery over the course of the year."
Net cash at the end of 2021 reached $41.6 million, a 4.5% increase from 2020. 4imprint said its pre-tax profits were at the upper end of analyst forecasts.
The company said that despite variables relating to the ongoing pandemic, it's in a good position for continued success.
"Even as challenges remain regarding the supply chain, inflationary pressures and the lingering effects of the pandemic, our performance in 2021 further demonstrates the flexibility and resilience of our business model," the company said in a release to Sharecast. "The board is very pleased with the group's progress in 2021, and is confident that the qualities embodied in our brand continue to resonate with our customers."
4imprint reported a 35% decrease in revenue in 2020, with a 96% drop in profit, causing it to slide out of the No. 1 overall spot on our 2021 Top Distributors List. While it still edged out Proforma for the No. 2 spot, the drop represented nearly $300 million in sales.
A return to sales levels close to its 2019 numbers is obviously a good sign for 4imprint, but it's also good news for the industry. 4imprint was hit particularly hard by the absence of trade shows and live events in 2020, so its recovery suggests a significant comeback in one of promo's most critical markets.
For more information, visit www.4imprint.com.