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

Courier’s book manufacturing segment reported second-quarter sales of $55.4 million, down 1 percent from $55.9 million in last year’s second quarter. The segment’s operating loss was $718,000, including a loss of $900,000 at FastPencil, versus operating income of $1.4 million a year ago. Additional factors affecting earnings included a tight pricing environment and over $1 million of additional depreciation and amortization expense, primarily due to recent investments in digital capacity in anticipation of future demand.