IT Companies Optimistic About 2010's Second Half

The economy and job market may not be bouncing back the way most people had hoped they would by now. But a recent survey from CompTIA shows IT companies optimistic that the second half of the year will see a more robust rebound.

Six out of ten professionals surveyed at IT firms for CompTIA’s (News - Alert) IT Industry Business Confidence Index expect their revenue during the second half of 2010 to significantly or moderately exceed revenue from the first six months.

Confidence in business has struggled so far this year with CompTIA’s index down 1.4 points in June compared with March. All three components measured by the index—overall economy, IT industry, and individual companies—inched lower.

But in an expectation of better times ahead, the individuals surveyed believe the index will rise 5.4 points during the rest of the year. Overall, CompTIA found a “two steps forward, one step back” scenario with IT companies confident about the tech sector and the prospects of their own companies but concerned about the health of the U.S. economy.

The IT job market could finally see a bit of an upturn with 37 percent of IT companies saying they expect to boost hiring over the next six months, according to the index. Among all of those surveyed, 47 percent said they’re fully staffed but would like to add new employees to grow their business, while 53 percent indicated they’re understaffed by between 5 percent and 20 percent. Those companies that do plan to hire will be on the lookout for programmers, developers, support staff and help desk personnel, sales staff, project managers, and network engineers, CompTIA said.

IT industry professionals are also less worried about other sore spots. Among those surveyed, fear of a stalled economic recovery dropped to 46 percent in June from 58 percent last December. The percentage of those concerned about weak consumer demand fell to 40 percent from 56 percent. And executives leery about their own access to credit and capital went down to 26 percent from 41 percent last December.

Smaller technology companies seem more worried than their larger counterparts, notes CompTIA. Access to credit and capital is still tough for small businesses, so any interruption in cash flow, such as slow payments from customers or a need for new financing, could be problematic.

To compile its IT Industry Business Confidence Index, CompTIA surveyed 306 IT companies in the U.S. during the middle of June.