Bakers and snack manufacturers are overwhelmingly positive about the outlook for the industry in 2011, according to an exclusive survey on capital expenditures by Baking & Snack magazine. In addition, a greater number of companies report that their business improved in 2010 compared with 2009.

Specifically, 89% of those surveyed describe the general outlook for 2011 as “positive” for the industry. As the economy appears to be improving, so have many companies’ financial position. In fact, 42% of respondents said their company is “firmly in the black” and are “seeing no ill effects” in 2010 compared with only 26.5% of respondents in 2009.

Another 47% are “financially sound” but their profits took a hit in 2010. That compares to 61.1% who agreed with this sentiment in 2009. The increase in the number of companies that are “firmly in the black” along with a decrease in the percentage of companies whose profits have suffered indicates an overall strengthening of the industry.

Only 11% noted that their businesses were “unstable” and that “profits are turbulent these days.”

Check out our February 2011 issue for more exclusive information from Baking & Snack’s recently conducted survey of the industry.