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

For the first six months of fiscal 2014, Courier revenues were $134.2 million, an increase of 6 percent from $126.5 million last year. The company reported a loss for the six-month period of $0.7 million or $.06 per diluted share, including the second-quarter impairment charge and receivable write-off; excluding those items, income through six months was $1.7 million or $.14 per diluted share, versus net income of $2.8 million or $.24 per diluted share for the first half of fiscal 2014. Details of the impairment charge and other items, including reconciliations of non-GAAP measures to GAAP, can be found in the tables at the end of this release.