2014 AD-TO-SALES RATIOS Industry Name ABRASIVE,ASBESTOS,MISC MINRL ACCIDENT & HEALTH INSURANCE ADHESIVES AND SEALANTS ADVERTISING ADVERTISING AGENCIES AGRIC PROD-LVSTK,ANIMAL SPEC AGRICULTURAL CHEMICALS AGRICULTURE PRODUCTION-CROPS AIR COURIER SERVICES AIR TRANSPORT, SCHEDULED AIR-COND,HEATING,REFRIG EQ AIRCRAFT AIRPORTS & TERMINAL SERVICES AMUSEMENT & RECREATION SVCS AMUSEMENT PARKS APPAREL & OTHER FINISHED PDS APPAREL AND ACCESSORY STORES APPAREL,PIECE GDS,NOTNS-WHSL ARRANGE TRANS-FREIGHT, CARGO AUTO AND HOME SUPPLY STORES AUTO DEALERS, GAS STATIONS AUTO RENT & LEASE,NO DRIVERS AUTO REPAIR,SERVICES,PARKING BAKERY PRODUCTS BALL AND ROLLER BEARINGS BEVERAGES BIOLOGICAL PDS,EX DIAGNSTICS BITUMINOUS COAL, LIGNITE MNG BLANKBOOKS,BINDERS,BOOKBIND BLDG MATL,HARDWR,GARDEN-RETL BOOKS: PUBG, PUBG & PRINTING BRDWOVEN FABRIC MILL, COTTON BTLD & CAN SOFT DRINKS,WATER BUSINESS SERVICES, NEC CABLE AND OTHER PAY TV SVCS CALCULATE,ACCT MACH,EX COMP CAN FRUIT,VEG,PRESRV,JAM,JEL CAN,FROZN,PRESRV FRUIT & VEG CARPETS AND RUGS CATALOG, MAIL-ORDER HOUSES CEMENT, HYDRAULIC CIGARETTES CMP AND CMP SOFTWARE STORES CMP INTEGRATED SYS DESIGN CMP PROCESSING,DATA PREP SVC CMP PROGRAMMING,DATA PROCESS COGENERATN-SM POWER PRODUCER COML PHYSICAL, BIOLOGCL RESH COMMERCIAL BANKS COMMERCIAL PRINTING COMMUNICATIONS EQUIP, NEC SIC Code No. 3290 6321 2891 7310 7311 200 2870 100 4513 4512 3585 3721 4581 7900 7996 2300 5600 5130 4731 5531 5500 7510 7500 2050 3562 2080 2836 1220 2780 5200 2731 2211 2086 7389 4841 3578 2033 2030 2273 5961 3241 2111 5734 7373 7374 7370 4991 8731 6020 2750 3669 2013 Ad Spending ($000) 225.696 434.77 0.064 163.468 11.637 6.358 3279.109 219.065 582.141 4929.616 134.436 7.972 22.196 294.463 231 1606.735 450.594 20.104 4.201 321.801 808.069 398.871 3.994 22.705 0.443 2400 1166.305 63.45 224.872 110.451 359.52 1.823 5138.281 133.384 4237.9 44.1 157.748 507.801 42.627 4585.561 3.817 723.676 51.116 329.19 132.207 16574.34 135.44 76.956 0.384 4.269 53.392 2014 Ad Spending ($000) 222.326 460.763 0.072 161.805 10.487 7.069 3124.413 197.087 610.637 5561.66 134.286 8.21 23.289 309.797 236.995 1742.265 473.031 21.223 4.318 334.549 864.446 446.722 4.558 25.37 0.317 2554.798 1270.571 44.417 246.91 121.363 360.478 1.855 5374.467 126.07 4440.137 36.258 169.08 496.349 47.148 5372.654 4.822 769.714 44.32 370.313 142.155 18906.66 159.782 83.071 0.408 4.748 5.515 Source: Schonfeld and Associates, Inc. - 2014 Advertising Ratios and Budgets Annual Ad Growth Rate (%) -10.9 10.6 -98.4 5.4 -100 -31 -77.1 20.6 21.1 9.3 9 1.4 95.2 -35.2 4.5 2.5 3.9 7.6 7.5 -2.9 -2.2 7.2 7.7 11.3 23.2 9.1 -97.5 6.4 3.6 14.3 2.9 3.7 12.6 16.9 5.8 21 1.5 -3.5 11.7 10.5 8.1 7.9 10.9 -1 10.1 -4.9 3.7 -41.7 20 12.1 7.7 Annual Sales Growth Rate (%) 6.6 10.4 -7.4 -5.1 2.3 -5 -1.8 6.6 8.5 19.2 7.1 3.1 7.5 10.8 0.9 11.6 4 9.5 -1.8 -4.6 2.8 7.2 3.6 11.1 3.3 5.5 5.6 -0.1 4.1 16.3 4.2 5.2 9.5 7.3 1 0.1 -1.7 -0.1 11.8 8.9 10.1 5.5 9.3 3.4 12.7 11.5 10.1 4.7 17.6 6.6 2.9 2014 Ad $ as % of Sales 3.4 1 3 1.9 0 0.4 5.2 0.7 0.8 1.5 0.8 0.1 0.9 3.5 6.1 4.4 3.1 2.2 0.1 1.3 0.5 1.5 0.2 0.5 0.5 3.9 1.8 0.2 6.6 1.3 3.2 0.2 4.5 0.4 2.1 0.2 1.8 3.3 0.6 4 1 0.7 0.5 0.4 0.2 5.8 0.4 0.6 0.7 0 0.1 2014 Ad $ as % of Margin 1.8 2.4 0 1 0 -25.3 0.4 0.4 0.8 2.8 65.1 0.1 2.5 0.2 12.1 9.5 6.9 0.8 8.4 8.5 9.7 5.9 17.9 1.1 5.8 15.4 1.7 6.8 7.2 12.5 21.5 8.6 9 1.5 1.2 5.7 1 8.9 3.5 1.8 8.7 9.6 16.2 11.4 17.5 0.8 12.9 2.2 1.7 20 9 1 2014 AD-TO-SALES RATIOS Industry Name COMMUNICATIONS SERVICES, NEC COMPUTER & OFFICE EQUIPMENT COMPUTER COMMUNICATION EQUIP COMPUTER PERIPHERAL EQ, NEC COMPUTER PROGRAMMING SERVICE COMPUTER STORAGE DEVICES COMPUTERS & SOFTWARE-WHSL CONCRETE PDS, EX BLOCK,BRICK CONCRETE,GYPSUM,PLASTER PDS CONGLOMERATE CONSTR,MINING,MATL HANDLE EQ CONSTRUCTION MACHINERY & EQ CONSTRUCTION-SPECIAL TRADE CONVENIENCE STORES CONVRT PAPR,PAPRBRD,EX BOXES COOKIES AND CRACKERS CREDIT REPORTING SERVICES CRUDE PETROLEUM & NATURAL GS CUT STONE AND STONE PRODUCTS CUTLERY, HANDTOOLS,GEN HRDWR DAIRY PRODUCTS DENTAL EQUIPMENT & SUPPLIES DEPARTMENT STORES DETECT,GUARD,ARMOR CAR SVCS DIRECT MAIL ADVERTISING SVCS DISTILLED AND BLENDED LIQUOR DIVERSIFIED MULTI-MEDIA DOLLS AND STUFFED TOYS DRAWNG,INSULATNG NONFER WIRE DRUG & PROPRIETARY STORES DRUGS AND PROPRIETARY-WHSL DURABLE GOODS-WHOLESALE DURABLE GOODS-WHOLESALE, NEC EATING AND DRINKING PLACES EATING PLACES EDUCATIONAL SERVICES ELEC APPARATUS & EQUIP-WHSL ELEC MEAS & TEST INSTRUMENTS ELECTR COIL,TRANSFRM,INDUCTR ELECTR, OTH ELEC EQ, EX CMP ELECTRIC HOUSEWARES AND FANS ELECTRIC LIGHTING, WIRING EQ ELECTRIC SERVICES ELECTRICAL INDL APPARATUS ELECTRICAL WORK ELECTROMEDICAL APPARATUS ELECTRONIC COMP, ACCESSORIES ELECTRONIC COMPONENTS, NEC ELECTRONIC COMPUTERS ELECTRONIC CONNECTORS ELECTRONIC PARTS,EQ-WHSL,NEC SIC Code No. 4899 3570 3576 3577 7371 3572 5045 3272 3270 9997 3530 3531 1700 5412 2670 2052 7323 1311 3281 3420 2020 3843 5311 7381 7331 2085 4888 3942 3357 5912 5122 5000 5099 5810 5812 8200 5063 3825 3677 3600 3634 3640 4911 3620 1731 3845 3670 3679 3571 3678 5065 2013 Ad Spending ($000) 1916.412 1191.594 316.279 1128.138 0.708 205.125 459.304 0.53 87.884 516.003 360.914 97.585 15.855 0.105 523.848 30.4 235.988 149.36 16.589 110.086 592.914 161.522 4917.272 0.133 206.6 3370.088 10639.79 760.305 22.275 1332.944 358.141 253.706 0.431 4.618 4290.564 2498.288 35.466 28.261 0.005 5252.219 147.281 47.797 245.266 13.815 0.573 524.999 92.037 256.149 1161.97 0.207 0.725 2014 Ad Spending ($000) 2017.89 1109.31 313.091 1019.185 0.666 236.669 497.265 0.562 77.046 566.803 405.518 95.79 30.926 0.111 531.443 38.774 240.145 7.027 20.713 117.407 629.422 181.009 4722.791 0.136 236.099 3466.802 11202.26 794.576 22.275 1325.981 378.203 275.269 0.548 4.884 4490.067 2397.816 38.604 28.989 0.006 5014.009 173.769 50.932 241.047 13.641 0.406 564.313 84.752 269.522 1297.565 0.247 0.611 Source: Schonfeld and Associates, Inc. - 2014 Advertising Ratios and Budgets Annual Ad Growth Rate (%) 7.4 -14.4 3.9 9 5.1 1 3.6 -5.3 0.3 -1.1 9.1 -4.8 8.8 5 22.8 -14.6 4.2 -2.3 11.7 8.3 3.8 19.2 4.5 3.3 14 -6 2.5 10.5 2.4 18.1 -8.2 4.9 3.5 2.9 3 15.2 -0.3 6.1 19.2 -10.5 6.6 20 -1.5 5.8 1.3 4.5 -1.6 -12.3 0.5 5.6 10.1 Annual Sales Growth Rate (%) 3.3 3.8 4.1 3.5 2.3 1.1 -3 0.4 -3.5 -4.2 5.2 3.5 9.8 3.5 -0.9 3.4 4.2 -0.6 10.2 10.2 3.4 17 3.4 1.1 0.3 -1.7 -0.5 12.1 2 10.6 -8.1 7.4 6.5 1 3 7.9 9.2 6.5 3.7 9.1 11.1 12.7 0.2 2.1 -6.1 -10.1 0.7 -2.6 2.8 3.6 2.6 2014 Ad $ as % of Sales 5.2 0.6 0.4 2.6 0 0.3 0.5 2 0.9 0.3 0.8 0.1 0.7 0.4 0.7 2.1 1.8 0.2 5.1 1.4 2.1 3.4 4.4 0 4.8 13.9 9 11 0.4 0.3 0.1 0.4 1.1 3.8 2.7 11.1 0.2 0.4 0 3.5 8.1 0.6 0.3 0 0 1 1.3 0.5 0.6 0.5 0 2014 Ad $ as % of Margin 0.6 1.4 3 0.9 6.6 1.9 13.9 5.9 5.9 0.2 0.1 0.5 13.6 0.9 1.9 0 7.3 4.9 1.5 2.6 27.3 20.2 30.1 5.2 3.5 13.6 4.8 5 1.1 2.9 7.3 22.3 0.3 1.4 4.1 4.5 7.1 0.6 1.9 3.5 6.9 10.5 13.1 2.1 1.5 1.3 1.9 1.6 1.8 3 4.6 2 2014 AD-TO-SALES RATIOS Industry Name EMPLOYMENT AGENCIES ENGINEERING SERVICES ENGINES AND TURBINES ENGR,ACC,RESH,MGMT,REL SVCS EQUIP RENTAL & LEASING, NEC FABRICATED PLATE WORK FABRICATED RUBBER PDS, NEC FAMILY CLOTHING STORES FARM MACHINERY AND EQUIPMENT FARM-PRODUCT RAW MATL-WHSL FATS AND OILS FINANCE LESSORS FIRE, MARINE, CASUALTY INS FOOD AND KINDRED PRODUCTS FOOD STORES FOOTWEAR, EXCEPT RUBBER FUNCTIONS REL TO DEP BKG,NEC FURNITURE STORES GAMES,TOYS,CHLD VEH,EX DOLLS GENERAL INDL MACH & EQ, NEC GENERAL INDUSTRIAL MACH & EQ GLASS PD,MADE OF PURCH GLASS GOLD AND SILVER ORES GRAIN MILL PRODUCTS GROCERIES & RELATED PDS-WHSL GROCERY STORES HARDWARE-WHOLESALE HARDWR, PLUMB, HEAT EQ-WHSL HAZARDOUS WASTE MANAGEMENT HEAVY CONSTR-NOT BLDG CONSTR HELP SUPPLY SERVICES HOBBY, TOY, AND GAME SHOPS HOME FURNITURE & EQUIP STORE HOME HEALTH CARE SERVICES HOSPITAL & MEDICAL SVC PLANS HOSPITALS HOTELS AND MOTELS HOTELS, OTHER LODGING PLACES HOUSEHOLD APPLIANCES HOUSEHOLD AUDIO & VIDEO EQ HOUSEHOLD FURNITURE ICE CREAM & FROZEN DESSERTS IN VITRO,IN VIVO DIAGNOSTICS INDL COML FANS,BLOWRS,OTH EQ INDL INORGANIC CHEMICALS INDL TRUCKS,TRACTORS,TRAILRS INDUSTRIAL MACH & EQ-WHSL INDUSTRIAL MEASUREMENT INSTR INDUSTRIAL ORGANIC CHEMICALS INS AGENTS,BROKERS & SERVICE INVESTMENT ADVICE SIC Code No. 7361 8711 3510 8700 7359 3443 3060 5651 3523 5150 2070 6172 6331 2000 5400 3140 6099 5712 3944 3569 3560 3231 1040 2040 5140 5411 5072 5070 4955 1600 7363 5945 5700 8082 6324 8060 7011 7000 3630 3651 2510 2024 2835 3564 2810 3537 5084 3823 2860 6411 6282 2013 Ad Spending ($000) 65.844 134.524 324.57 41.083 351.607 14.232 1.568 1885.039 436.647 3.9 8.41 153.105 3856.726 11955.76 109.612 306.865 2419.213 271.2 461.788 36.242 222.805 1.288 70.523 3075.987 1365.876 2658.316 38.309 77.163 24.954 4782.295 178.816 629.149 857.488 71.678 1533.056 14.59 610.841 0.052 672.62 4342.847 709.758 0.323 62.982 0.5 171.16 15.076 105.273 14.371 554.502 92.597 3651.698 2014 Ad Spending ($000) 71.126 151.885 337.324 41.693 325.29 16.242 1.623 2024.944 457.538 4.296 4.196 172.12 4094.405 12542.03 114.701 304.946 2502.327 307.44 462.574 37.784 228.124 1.369 74.369 3382.743 1352.662 2845.438 36.061 78.484 28.535 6685.366 195.801 616.2 915.182 73.359 1628.073 15.818 618.36 0.053 726.103 3891.096 800.124 0.312 70.379 0.557 179.349 16.219 102.935 16.307 632.354 101.872 3944.865 Source: Schonfeld and Associates, Inc. - 2014 Advertising Ratios and Budgets Annual Ad Growth Rate (%) 11.2 9.6 7.4 0.7 3.6 4.6 11.9 -1.9 1 7.9 1.2 -3.3 -6.6 1.1 9.9 -32 11.9 4.2 -7.2 11.1 13.9 -0.7 -10.6 -21.7 10.7 0.2 -4.7 23.3 6.6 1.3 6 7.2 16.6 6.3 -11 -18.3 -4.3 -14.1 -67.1 -7.9 3.3 4.7 6.3 17.6 5 2.4 -13 6.1 -3.4 6.2 10.5 Annual Sales Growth Rate (%) 12.6 12.2 5.5 2.6 -0.7 6.9 1.1 -2.7 13.8 3.6 9.8 -0.3 -8.5 -1.6 10.7 0.3 2 2.8 -10.4 15.8 8.6 5.6 -13.5 5.5 11.2 2.1 -13 4 4.5 22 5 3.9 10.1 4.8 -1.6 0 0.7 -11.6 -36.4 -3.4 -1.5 3.4 6.9 -0.7 5.1 6.9 -28.6 5.7 -2.4 5.6 16.7 2014 Ad $ as % of Sales 0.8 0.3 1 0.4 2.4 0.8 0.1 2 0.6 0.1 0.8 1.2 0.8 5.5 2.2 3 6.7 6.6 9.9 0.8 0.5 0.2 0.4 6.7 1.6 0.8 3.1 0.3 0.4 10.4 0.5 3.7 3.7 1.3 0.4 0.2 1.3 0.8 1.8 5 6.8 2.2 0.9 0.2 0.3 0.5 0.7 0.1 0.9 0.3 3.1 2014 Ad $ as % of Margin 2.5 2 3.5 0.6 3.7 2.1 3.6 0.4 0.2 2.6 4.3 0.4 2.1 1.2 2.7 1.3 0.8 1.4 2.2 1.4 0.6 0.7 5 0.7 2.2 2.1 9.8 0.6 0.5 0.1 1.3 7.7 17.9 1.5 98.7 3.9 2.2 10.5 0.2 4.7 0.3 3.1 0.1 1.2 1.7 7.6 2.5 11 0.1 3.5 4.6 3 2014 AD-TO-SALES RATIOS Industry Name INVESTORS, NEC IRON AND STEEL FOUNDRIES JEWELRY STORES JEWELRY,SILVERWR,PLATED WARE KNIT OUTERWEAR MILLS KNITTING MILLS LAB ANALYTICAL INSTRUMENTS LAB APPARATUS AND FURNITURE LEATHER AND LEATHER PRODUCTS LIFE INSURANCE LOAN BROKERS LUMBER & OTH BLDG MATL-RETL LUMBER AND WOOD PDS, EX FURN LUMBER, PLYWD, MILLWORK-WHSL MACHINERY AND EQUIPMENT-WHSL MAGNETC,OPTIC RECORDNG MEDIA MAILING,REPRO,COMML ART SVCS MALT BEVERAGES MANAGEMENT CONSULTING SVCS MANAGEMENT SERVICES MANIFOLD BUSINESS FORMS MEAS & CONTROLLING DEV, NEC MEAT PACKING PLANTS MED, DENTAL, HOSP EQ-WHSL MEDICAL LABORATORIES MEDICINAL CHEMS,BOTANICL PDS MEMBERSHIP SPORT & REC CLUBS MENS,BOYS FRNSH, WORK CLTHNG METAL DOORS,FRAMES,MOLD,TRIM METAL MINING METALS SERVICE CENTERS-WHSL METALWORKING MACHINERY & EQ MILLWORK,VENEER,PLYWOOD MISC AMUSEMENT & REC SERVICE MISC BUSINESS CREDIT INSTN MISC BUSINESS SERVICES MISC CHEMICAL PRODUCTS MISC DURABLE GOODS-WHSL MISC ELEC MACHY,EQ,SUPPLIES MISC EQUIP RENTAL & LEASING MISC FABRICATED METAL PRODS MISC FOOD PREPS, KINDRED PDS MISC FURNITURE AND FIXTURES MISC HEALTH & ALLIED SVC,NEC MISC MANUFACTURNG INDUSTRIES MISC NONDURABLE GOODS-WHSL MISC PDS OF PETROLEUM & COAL MISC PLASTICS PRODUCTS MISC SHOPPING GOODS STORES MISC TRANSPORTATION EQUIP MISCELLANEOUS METAL ORES SIC Code No. 6799 3320 5944 3910 2253 2250 3826 3821 3100 6311 6163 5211 2400 5031 5080 3695 7330 2082 8742 8741 2761 3829 2011 5047 8071 2833 7997 2320 3442 1000 5051 3540 2430 7990 6159 7380 2890 5090 3690 7350 3490 2090 2590 8090 3990 5190 2990 3080 5940 3790 1090 2013 Ad Spending ($000) 0.441 5.133 638.716 3.785 0.9 161.541 175.78 0.601 227.759 20784.64 184.254 2430.791 852.824 6.144 5.689 5.023 316.869 4394.285 254.992 0.79 0.955 380.785 664.722 56.97 23.553 146.164 20.291 1277.118 25.162 49.17 0.55 409.57 304.869 1043.078 475.437 172.818 266.009 5.942 650.154 185.61 38.051 414.283 7.431 49.91 280.88 7.815 26.601 2.9 1870.945 111.927 4.4 2014 Ad Spending ($000) 0.443 5.369 683.163 7.411 1.042 155.122 185.942 0.613 267.38 16789.16 210.944 2499.715 939.476 6.478 5.082 4.426 369.049 4560.439 264.572 0.617 0.91 423.346 682.504 57.091 24.829 152.745 20.561 1382.442 27.848 0.158 0.45 414.267 313.182 1128.865 574.941 186.146 273.237 6.336 662.272 198.117 38.373 470.678 8.133 52.788 295.213 8.983 32.153 2.977 1833.944 125.712 0 Source: Schonfeld and Associates, Inc. - 2014 Advertising Ratios and Budgets Annual Ad Growth Rate (%) 3.1 18.8 4.5 11.8 -0.8 1.6 12.6 -14 2.8 5.2 6.3 10 3.7 2.4 10.6 12.8 6.7 9.9 -5.9 11.9 96.6 4.3 -0.4 4.7 -1 4.2 0 9.2 4.1 15.7 4.8 4.4 10.3 2.8 -1.4 2.5 39.8 0.4 4.2 4.2 4.8 -4.2 39.9 1.6 14.6 18 7.2 -27.6 8.7 5.5 -100 Annual Sales Growth Rate (%) 5.1 -0.6 5.2 10.8 -2.4 4.1 6 -7.6 -10.6 4.2 -4.2 8.6 3.8 2.4 8.5 11.1 1.7 9.6 -8.5 9.7 0.2 1.3 -1.6 3.3 -1.2 5.3 2.1 4.9 1.8 5 4.6 6.2 11 5.5 2.9 -0.8 4.9 0 5.9 0.6 4.5 2.3 39.2 2.7 15.8 -0.7 -2.2 13.9 5.5 13.1 -2.4 2014 Ad $ as % of Sales 1.7 0.5 5.8 1.7 0.9 3.4 0.5 0.4 3.1 2.2 6.9 1.5 6.1 0.1 0.1 0.7 25.4 3.9 0.6 0 0.2 1.6 1.1 0.2 0.2 3.7 0.6 4.9 1.3 0 0 1.5 3.7 1.8 1 4.7 1.9 0.3 2.2 2 0.2 3.8 0.5 0.1 3.5 0.1 0.6 0.6 3.4 1.2 0 2014 Ad $ as % of Margin 0.4 7.1 3.2 4.9 9.3 1.6 0.2 0.5 0.7 0.9 0.3 2.8 0.2 2 5.6 0.9 1.4 9 2.1 10.3 6.1 19.7 18.6 24.5 11.6 6.7 -2.6 2.1 11.5 7.3 2.6 1.8 36.3 0.3 5.2 5.9 8.2 21.9 4.8 23.5 10.9 1.9 0.6 0.3 1.1 1.3 1.6 0.1 1.4 0.5 0 4 2014 AD-TO-SALES RATIOS Industry Name MISCELLANEOUS PUBLISHING MISCELLANEOUS RETAIL MOBILE HOMES MORTGAGE BANKERS & LOAN CORR MOTION PIC, VIDEOTAPE PRODTN MOTION PICT, VIDEOTAPE DISTR MOTION PICTURE THEATERS MOTOR HOMES MOTOR VEH PARTS, SUPPLY-WHSL MOTOR VEH SUPLY,NEW PTS-WHSL MOTOR VEHICLE PART,ACCESSORY MOTOR VEHICLES & CAR BODIES MOTORCYCLES,BICYCLES & PARTS MOTORS AND GENERATORS NEWSPAPER:PUBG, PUBG & PRINT NON-OPERATING ESTABLISHMENTS OFFICE FURNITURE OIL & GAS FIELD MACHY, EQUIP OIL & GAS FIELD SERVICES,NEC OIL AND GAS FIELD EXPL SVCS OIL ROYALTY TRADERS OPERATIVE BUILDERS OPERATORS-APARTMENT BLDGS OPERATORS-NONRES BLDGS OPHTHALMIC GOODS OPTICAL INSTRUMENTS & LENSES ORDNANCE AND ACCESSORIES ORTHO,PROSTH,SURG APPL,SUPLY PAINTS, VARNISHES, LACQUERS PAPER & PAPER PRODUCTS-WHSL PAPER MILLS PARTITIONS,SHELVING,LOCKERS PATENT OWNERS AND LESSORS PENS,PENCILS,OTH ARTIST MATL PERFUME,COSMETIC,TOILET PREP PERIODICAL:PUBG,PUBG & PRINT PERSONAL CREDIT INSTITUTIONS PERSONAL SERVICES PETROLEUM BULK STATIONS-WHSL PETROLEUM REFINING PETROLEUM,EX BULK STATN-WHSL PHARMACEUTICAL PREPARATIONS PHONE COMM EX RADIOTELEPHONE PHONO RECRDS,AUDIO TAPE,DISK PHOTOFINISHING LABORATORIES PHOTOGRAPHIC EQUIP & SUPPLY PLASTC,SYNTH MATLS;EX GLASS PLASTICS PRODUCTS, NEC PLASTICS,RESINS,ELASTOMERS POULTRY SLAUGHTER & PROCESS PREFAB METAL BLDGS AND COMP SIC Code No. 2741 5900 2451 6162 7812 7822 7830 3716 5010 5013 3714 3711 3751 3621 2711 9995 2520 3533 1389 1382 6792 1531 6513 6512 3851 3827 3480 3842 2851 5110 2621 2540 6794 3950 2844 2721 6141 7200 5171 2911 5172 2834 4813 3652 7384 3861 2820 3089 2821 2015 3448 2013 Ad Spending ($000) 9.8 143.04 0.203 113.221 775.18 3.4 107.773 4.875 6.356 57.9 1670.167 37776.79 91.1 56.718 854.233 12.563 4.249 26.341 255.517 12.167 0.037 316.834 0.041 27.273 705.823 5.597 74.678 433.601 1148.088 0.014 1209.191 0.097 232.46 271.5 16563.84 268.825 1113.438 997.538 1.69 2652.615 258.015 22602.71 14691.73 65.829 87.5 336.589 359.629 279.474 5.489 25.077 6.684 2014 Ad Spending ($000) 9.75 155.711 0.136 138.79 880.109 5.446 116.733 5.414 2.893 62.88 1768.672 40319.52 95.126 60.107 885.255 19.32 4.578 26.614 309.649 14.475 0.041 348.611 0.037 27.838 781.783 5.952 80.423 442.329 1182.44 0.016 1278.055 0.103 242.555 269.791 17332.42 254.89 1100.992 1026.29 2.027 2716.974 257.223 22172.47 15081.25 54.866 114.093 317.219 432.03 286.814 4.641 27.492 7.36 Source: Schonfeld and Associates, Inc. - 2014 Advertising Ratios and Budgets Annual Ad Growth Rate (%) 7.8 0.3 -20.2 8 -16.5 1.5 -5.8 -10.7 -1.9 5.7 24.4 16.5 5.5 5.4 -0.6 9.2 18.3 -0.4 13.7 9.1 2.8 -4 3.6 4.8 5.4 5.3 6.9 3.7 4.6 7.2 7.2 7 6.5 12.6 -8.6 -14.3 -34.2 5.6 4.5 8.1 -0.9 -2 6.7 -2.1 15.5 9.5 6.2 3.3 0 -3.4 20.9 Annual Sales Growth Rate (%) 3.9 4.7 0.3 4.3 -2.6 0.8 -4.3 7.6 13.4 6.8 25.8 10.1 3.8 3.6 5.7 7.8 9.9 5.5 8.6 8.5 4.1 -3.6 3.4 10.6 3.4 3.1 6.8 4.5 5.3 4 5.6 6.3 6.8 14.2 -10.7 -3 -15.5 4.3 3.5 2.8 12 -0.1 4.6 -2.9 12.7 6.5 -1.6 7.9 6.9 11.3 -1.4 2014 Ad $ as % of Sales 0.1 1.1 0.6 2.2 8.7 2.1 0.7 0.5 0 0.4 0.7 2.6 1.4 0.4 5 1.9 0.2 0 0.3 0.2 35.3 0.6 0.1 0.1 6 0.2 1.1 1.4 2.3 0.1 1.4 0.7 7.5 4.8 21.1 3.8 1.7 10 0 0.1 0.3 3.7 2.8 1.9 12.1 0.9 0.5 1.5 0 0.2 0.5 2014 Ad $ as % of Margin 5.7 0.8 1.2 0.9 0 1.1 15.8 0.3 1.8 1 2.4 0.1 1.4 7.7 9.1 1 0.2 2.9 0.7 3.8 4.3 14 3.3 6 3.2 1.3 4.7 2.5 7.4 8.9 5.4 6.1 9.4 15.8 10 1.7 2.2 5.9 10.2 2.7 1.8 11.9 11.7 9.9 12.8 8.9 2.5 12.6 3.7 10.1 1.7 5 2014 AD-TO-SALES RATIOS Industry Name PREFAB WOOD BLDGS,COMPONENTS PREP FRESH,FROZN FISH, SEAFD PREPACKAGED SOFTWARE PRIM SMELT,REFIN NONFER METL PRINTED CIRCUIT BOARDS PROF & COML EQ & SUPPLY-WHSL PUBLIC BLDG & REL FURNITURE PUMPS AND PUMPING EQUIPMENT PWR,DISTR,SPECL TRANSFORMERS RACING,INCL TRACK OPERATIONS RADIO BROADCASTING STATIONS RADIO, TV BROADCAST, COMM EQ RADIO,TV,CONS ELECTR STORES RADIOTELEPHONE COMMUNICATION REAL ESTATE REAL ESTATE AGENTS & MGRS REAL ESTATE INVESTMENT TRUST REAL ESTATE OPERATORS,LESSOR RECORD AND TAPE STORES REFRIG & SERVICE IND MACHINE REFUSE SYSTEMS RETAIL STORES, NEC ROLLING & DRAW NONFER METAL RUBBER AND PLASTICS FOOTWEAR SANITARY SERVICES SAUSAGE,OTH PREPARED MEAT PD SAWMILLS, PLANING MILLS, GEN SECURITY & COMMODITY BROKERS SECURITY BROKERS & DEALERS SEMICONDUCTOR,RELATED DEVICE SHIP & BOAT BLDG & REPAIRING SHOE STORES SHORT-TERM BUS CREDIT, EX AG SKILLED NURSING CARE FAC SOAP,DETERGENT,TOILET PREPS SOCIAL SERVICES SPEC OUTPATIENT FACILITY,NEC SPECIAL CLEAN,POLISH PREPS SPECIAL INDUSTRY MACHINERY SPECIAL INDUSTRY MACHY, NEC SPORTING & ATHLETIC GDS, NEC SRCH,DET,NAV,GUID,AERO SYS STEEL WORKS & BLAST FURNACES STEEL WRK, ROLL&FINISH MILL SUBDIVIDE, DEV, EX CEMETERY SUGAR & CONFECTIONERY PRODS SURGICAL,MED INSTR,APPARATUS SVCS TO DWELLINGS, OTH BLDGS SWITCHGEAR & SWITCHBOARD APP TELE & TELEGRAPH APPARATUS TELEVISION BROADCAST STATION SIC Code No. 2452 2092 7372 3330 3672 5040 2531 3561 3612 7948 4832 3663 5731 4812 6500 6531 6798 6510 5735 3580 4953 5990 3350 3021 4950 2013 2421 6200 6211 3674 3730 5661 6153 8051 2840 8300 8093 2842 3550 3559 3949 3812 3312 3310 6552 2060 3841 7340 3613 3661 4833 2013 Ad Spending ($000) 7.772 24.469 7348.234 52.419 0.03 0.012 0.876 285.763 1.002 43.068 573.631 3524.25 996.502 24686.35 160.457 837.203 3803.88 6.791 7.401 24.757 32.561 577.534 154.077 3032 0.029 3.382 0.716 473.527 4037.668 4605.867 2.113 341.634 516.901 0.428 19851.84 10.5 0.244 1957.766 0.895 201.006 196.862 1391.865 494.917 16.469 60.27 665.445 37.568 230.399 1.6 254.064 3413.903 2014 Ad Spending ($000) 9.464 28.892 7764.621 51.467 0.031 0 0.759 314.677 1.32 44.129 776.186 3343.067 915.162 24964.87 134.22 951.947 4035.535 8.499 5.303 27.574 33.093 635.244 133.023 3183.932 0.043 3.518 0.677 524.261 4145.016 4815.465 2.595 366.294 488.455 0.491 20626.91 12.048 0.308 2406.852 0.882 187.912 206.228 1380.345 500.788 17.451 61.982 726.828 38.988 263.441 1.721 242.511 3399.191 Source: Schonfeld and Associates, Inc. - 2014 Advertising Ratios and Budgets Annual Ad Growth Rate (%) 19.3 14.2 11.7 8.9 3.7 6.7 -19.3 5 5.9 6.1 10.2 -8.2 25 1.8 -13.7 12.9 4.4 10.7 4.4 5.7 -1.3 1.7 2 1.9 2.4 -8.2 1.9 15.3 13.7 12.6 5.7 -5.5 8.5 8.7 12.8 -5.9 5.4 11.8 7 7.4 2 25.1 -5.2 13.3 10.6 13.2 48.4 8.3 16.6 5.3 2.3 Annual Sales Growth Rate (%) 23 29.3 -7.6 1.8 -3.2 6.2 6.2 3.4 9.9 4.6 5.8 9.7 16.2 10.7 -1.8 9.6 6.2 -8.7 2.5 7.8 19.4 4.6 4.4 -3.4 2.1 5.4 -1.4 12.9 8.5 4.5 10.5 6.8 7.3 1.2 8.3 11.3 7.3 -0.6 3.7 4.2 -7.7 18.4 2 16.2 9.1 5.8 28 9.1 12.4 9.2 0.9 2014 Ad $ as % of Sales 0.4 0.8 2.8 0.4 0.1 0 0.6 1 0.2 2.3 4.4 3.3 2.2 2.5 1.5 4.4 3.1 8.3 0.8 0.9 0.1 3.5 0.2 9.7 0 2.6 0.3 4 2.1 1.6 1.3 2.3 6.7 0.2 12.3 3.1 0.3 10 0.2 1 10.3 2.6 0.2 0.4 0.7 4.6 0.1 2.4 0.2 0.8 12.1 2014 Ad $ as % of Margin 4.9 15.8 3.4 9.8 6.5 8.6 9.7 4.1 2 3.1 1.1 8 -5.4 0.2 0.2 13.2 1.8 39.7 10.4 8.9 3.9 0.8 4.9 26.1 3.8 0 2.6 35.8 12 9.6 2.8 2.8 1.7 2.2 9.6 0 3.6 0.6 0.5 5.3 0 19.3 2.5 0.8 3.3 22.3 9.3 3 12.1 11.5 5.7 6 2014 AD-TO-SALES RATIOS Industry Name TESTING LABORATORIES TEXTILE MILL PRODUCTS TIRES AND INNER TUBES TOTALIZING FLUID METERS TRANSPORTATION SERVICES TRUCK AND BUS BODIES TRUCKING, EXCEPT LOCAL TRUCKING,COURIER SVC,EX AIR VARIETY STORES VIDEO TAPE RENTAL WATCHES, CLOCKS AND PARTS WATER TRANSPORTATION WATER,SEWER,PIPELINE CONSTR WINE,BRANDY & BRANDY SPIRITS WMNS,MISS,CHLD,INFNT UNDGRMT WOMEN'S CLOTHING STORES WOMENS,MISSES,JRS OUTERWEAR WOOD HSHLD FURN, EX UPHOLSRD X-RAY & RELATED APPARATUS SIC Code No. 8734 2200 3011 3824 4700 3713 4213 4210 5331 7841 3873 4400 1623 2084 2340 5621 2330 2511 3844 2013 Ad Spending ($000) 1.371 4.206 456.989 5.609 2246.26 0.081 71.817 268.504 5783.224 437.9 197.2 1604.954 3.527 376.629 167.179 1181.134 5069.136 107.854 14.709 2014 Ad Spending ($000) 1.544 5.183 422.027 4.828 2481.13 0.078 79.178 268.428 5999.444 520.147 222.874 1674.466 3.604 435.079 165.428 1268.754 5654.46 116.988 16.714 Source: Schonfeld and Associates, Inc. - 2014 Advertising Ratios and Budgets Annual Ad Growth Rate (%) 7.9 2.5 1.5 12.8 8.4 5.7 2.3 6.3 25.3 -4.4 13 1.5 12.9 4.1 12 -22.3 3.7 49.3 7.9 Annual Sales Growth Rate (%) 7.5 4.5 6.1 1.3 8.7 1.1 -1.3 10.9 7.3 -6.2 12.3 3.2 2.3 8.5 8.9 13.2 5.1 274.2 5.7 2014 Ad $ as % of Sales 0.9 0.7 2 0.2 26.7 0 0.3 0.2 0.9 10.5 6.2 3.6 0 5.5 5.5 4.3 10.3 3.1 0.6 2014 Ad $ as % of Margin 4.2 12.5 1.9 1.4 1 0.4 3.4 0.5 -10000 22.2 12.7 0.7 1 1.9 1.5 0.1 1.8 6 4.1 7 2012 AD-TO-SALES RATIOS AND GROSS MARGINS NOTES: Advertising Ratios & Budgets are based on data from government filings and published financial records. Three accounting measures are reviewed: Advertising Expenditures, Net Sales and Cost of Goods Sold. SIC No. = Standard Industrial Classification Number as established by the U.S. Department of Commerce. Ad Dollars as Percent of Sales = Advertising Expense Divided by Net Sales (after returns, allowances, discounts). For practical purposes, Net Sales can be thought of as the "Top Line" of the company's income statement. The ratio shown is an estimate for the current year based on forecastsing models. It can be thought of as the "most likely" advertising-to-sales ratio for the specified industry. Ad Dollars as Percent of Margin - Advertising Expense Divided by Net Sales Minus Cost of Goods Sold. (Includes production, labor, materials, and appropriate overhead; does not include non-production expenses, taxes, interest, depreciation, amortization, selling, general, and administrative expenses. For Non-Manufacturing companies, cost of goods sold represent total operating costs.) The ratio shown is an estimate for the current year based on forecasting models. It can be thought of as the "most likely" advertising-to-gross margin ratiio for the specified industry. Annual Ad Growth Rate (%) and Annual Sales Growth Rate (%): Two growth rates are reported for each industry. These growth rates are based on forecasted advertising spending and forecasted sales from the models applied to historical data. They are the average annual compound growth rate in advertising and in net sales expressed as a percentage, calculated over the current period, last year to next year. In some instances, the growth rate of advertising and the growth rate of net sales will be the same. This event indicates that the Constant Ratio Model was mainly or entirely used to estimate advertising spending. Since this model uses forecasted sales to estimate advertising spending, the growth rates will b the same or similar. In this report, a zero value such as 0 or 0.0 are "legitimate" numeric values which indicate that spending for the year was under $1,000. N/A is used to indicate missing data (ad spending not published or released; or the forecasting models were not able to derive estimates). In the industry summary tables, where figures are composites of data values for the set of all firms in the industry, the difference between N/A and "zero" is important. In calculating industry summary figures, N/A values are omitted from the calculations while "zero" values are included. Source: Schonfeld & Associates - 2014 Advertising Ratios & Budgets