Total reported sales for all switch categories in North America for Q1 of 2015 were about equal to the previous quarter and 1% below the first quarter of 2014. Sales units for Q1 2015 came in 6% above Q4 2014 and 3% less than the first quarter of 2014.
The total booking dollars reported for all switch categories in North America for Q1 ran 7% lower than the previous quarter and above Q1 2014’s by 4%. The first quarter’s book-to-bill ratio for dollars was 0.985. Booking units in Q1 2015 were down 10% from the quarter before. The first quarter’s book-to-bill ratio for units was 0.835.
The first quarter versus the fourth showed total sales dollars held steady and units were 6% higher. Four of eight categories saw better dollars and units. Prices were down 5% in total with only three categories improving. The comparison to the first quarter of 2014 yielded dollars down in five of eight categories and 1% in total. Units were down for half the categories and lower in total by 3%. Pricing from a year ago was up in five categories and in total by 2%.
Sales Growth by Switch Category
| Q1 2015 Versus Q4 2014 | Q1 2015 Versus Q1 2014 | |||||
|---|---|---|---|---|---|---|
| Category | Dollars | Units | ASP | Dollars | Units | ASP |
| DIP | 0.0% | -11.2% | 12.6% | 25.7% | 20.5% | 4.3% |
| Keylock | -12.7% | 5.1% | -16.9 % | -17.5 | 1.2% | -18.5% |
| Push Button | -14.4% | -2.3% | -12.4% | 7.1% | 20.2% | -10.9% |
| Rocker | -8.8% | -3.5% | -5.5% | -6.5% | -13.7% | 8.3% |
| Slide | 6.9% | 19.2% | -10.3% | -3.8% | 7.4% | -10.4% |
| Snap Action | 6.6% | 6.0% | 0.6% | -12.3% | -10.6% | -2.0% |
| Tact | 7.3% | 11.3% | -3.6% | -4.7% | -11.6% | 7.9% |
| Toggle | 0.9% | -15.2% | 19.0% | 10.1% | -15.9% | 30.8% |
| Total | 0.3% | 5.6% | -5.0% | -0.7% | -2.9% | 2.3% |
When compared to last quarter total booking dollars and units decreased. Dollars were up in three of eight categories and down 7% while units were down 10%. Booked prices were up in most categories up 4% in total. Booked dollars in Q1 against the same quarter of 2014 were up for half the categories and in total by 4%. Units were down for the majority of the categories and 13% lower in total. Prices were up for five of the eight categories and increased 19% in total.
Bookings Growth by Switch Category
Bookings Growth by Switch Category
| Q1 2015 Versus Q4 2014 | Q1 2015 Versus Q1 2014 | |||||
|---|---|---|---|---|---|---|
| Category | Dollars | Units | ABP | Dollars | Units | ABP |
| DIP | -24.9% | -32.7% | 11.5% | -2.9% | -10.1% | 8.0% |
| Keylock | 28.5% | 5.3% | 22.0 % | 39.5% | 107% | -32.6% |
| Push Button | -13.6% | -15.1% | 1.7% | 2.5% | -5.4% | 8.3% |
| Rocker | -3.6% | -0.7% | -2.9% | 23.8% | 19.1% | 4.0% |
| Slide | 1.1% | 22.8% | -17.7% | -8.0% | 7.1% | -14.1% |
| Snap Action | -4.3% | -9.3% | 5.4% | -3.4% | 0.2% | -3.6% |
| Tact | -8.9% | -5.8% | -3.3% | -12.1% | -27.5% | 21.3% |
| Toggle | 5.7% | -41.2% | 79.8% | 4.4% | -20.8% | 31.9% |
| Total | -6.6% | -10.1% | 3.9% | 3.9% | -12.8% | 19.2% |
The graph below shows total quarterly indexed sales and bookings in dollars and units for the reported data since Q1 CY 2013. All measures set two-year highs Q2 and Q3 of 2013 and had been improving over the previous three quarters. In Q3 of 2013, sales measures continued to improve as booking measures eased down the next three quarters and improved in Q2 of 2014. Booked units have generally declined since Q3 of 2013. In Q4 of last year booking dollars were near a two year high. Sales measures dropped in Q4 of 2013 but rebounded in Q1 of 2014 only to slip the balance of the year.
Book-to-bill units generally have trended lower over the last two years. Book-to-bill dollars have oscillated above and below 1.0 over the last two years. The booking to selling price ratio has trended higher over the past two years.
Booking prices peaked in 2012 and trended lower until moving higher the last six quarters. Selling prices reached an apex Q3 of 2012 then moved mostly lower through Q2 of last year and higher since then.
Statements of fact and or opinions expressed in MarketEYE by its contributors are the responsibility of the authors alone and do not imply an opinion of the officers or the representatives of TTI, Inc.
