Courier Q2 Revenues Flat Due to Failure of Book Distribution Customer, Slow FastPencil Sales

Second-quarter revenues for the segment were $9.0 million, down from $9.4 million last year, with sales up at REA but lower at the other two publishing companies. The segment’s operating loss for the quarter was $1.2 million, versus $368,000 for the second quarter of fiscal 2013, with the difference almost entirely attributable to the $825,000 write-off associated with the closing of Creative Homeowner’s largest distribution customer. Publishing revenues for the first six months of the year were $18 million, down 2 percent from last year; the segment’s loss for the year to date was $1.8 million, versus $1.5 million in fiscal 2013.