LEWISTON – Reflecting the slowed growth of its company, Geiger employees will receive smaller bonuses this year than in recent years.

The 450 or so associates in the company’s manufacturing division – headquartered at the Geiger plant on Mount Hope Avenue – will share a $650,000 bonus. Last year, the same group received a $1 million bonus.

“On a consolidated basis, our revenue didn’t hit our budget, and neither did our profits,” said Jo-an Lantz, executive vice president. She said Geiger began to see signs of a stalling national economy last August, when work at the promotional products company began to slow.

By year’s end, Geiger managed a 5 percent increase in sales in 2007 over 2006. The year before, sales had grown almost 25 percent.

The distribution arm of the company – 21 field offices outside of Maine – received a $1.2 million bonus, roughly the same it received last year. Lantz said the distribution network, comprising hundreds of independent sales representatives, has its bonus based on sales. Manufacturing employees have their bonuses based on profits.

Each employee can decide how much of the profit-sharing bonus to take in cash and how much to invest in the company’s 401(k) plan. To encourage employees to save, Geiger adds a 25 percent match to the retirement benefit plan. Employees were notified of the bonuses last Thursday and Friday during the company’s annual Fireside Chat.

In 2005, local bonuses were $628,000, with sales bonuses of $750,000. In 2006, they were $900,000 for each division.

Lantz said the company is working with a conservative forecast for 2008, anticipating gains of 5 percent.

“It’s a much different economy this year than last,” Lantz said.

Additionally, the company expects to see its growth concentrated in its distribution side, rather than manufacturing. It laid 10 employees off from the Lewiston plant in January in anticipation of a slower year.

Lantz said much of the manufacturing work over the years has shifted from production of calendars, planners and other promotional products made from raw materials to more finishing work of items made offshore.

Geiger is the largest privately held promotional products distributor in the country, and the publisher of the Farmers’ Almanac. It has offered profit-sharing to its employees as part of its corporate philosophy since 1955.