2008 Architectural Study Now Available

DiCicco, Gulman & Company Continues to Build Reputation in A&E Niche with Architectural Study

Woburn, MA   September 9, 2008 - DiCicco, Gulman & Company LLP (DGC), a CPA and business consulting firm specializing in the accounting and financial matters of private companies, has released its 2008 Architectural Study, which demonstrates the firmfs depth of experience in the architecture and engineering industry. The study incorporates five years of financial data from twenty-six prominent firms in the Boston marketplace. The annual study analyzes and evaluates operational performance metrics, then identifies emerging trends in the Boston market. DGC clients who participate in the study receive a complimentary copy of the report highlighting their own financial standings. A public version of the study, which does not disclose individual firm names, is available in PDF format at www.dgccpa.com.

Survey results show that 2007 was a record-breaking year for the architectural industry. Utilization rates, project profitability, and hourly wage rates hit all-time highs. Indicators of emerging trends were:

• 56% of architecture firms are doing business internationally
• 44% of architecture firms are utilizing building information modeling (BIM) technology
•  25% of architecture firms operate multiple offices
•  25% outsource design work

The study examines financial and operational statistics that allows firms to benchmark their performance against the average of firms in the survey. Management can use it as a tool to identify strengths and weaknesses, and set realistic financial and operational goals.

According to Dave Sullivan, CPA and partner in charge of the A&E practice within the firm, "This year's study was a little different, in that, we had to take into account the profound economic factors that will have an impact on this industry well into 2009. We discuss the importance of globalization, outsourcing, and technology, all areas firms must pay close attention to in order to stay competitive. However, the study remains an in-depth examination of financial and operational strategies across the board."

With over twenty years of experience, Sullivan and his team have worked closely with leading architectural firms on matters such as financial and tax planning, mergers and acquisitions, due diligence services, ownership transition, and more. "Regardless of their size or area of specialization, architectural firms share important underlying operational characteristics," explains Sullivan. "Our clients represent architectural firms in the top 2% of the Boston marketplace, they are truly market leaders. This financial data effectively represents the general A&E industry in this area and is an important reference for all growing firms."