Courier’s Strong Quarter for Book Manufacturing Boosts Its Results

Fourth-quarter revenues for the segment were $10.1 million, down 15 percent from last year’s fourth quarter, reflecting a combination of direct and indirect effects of the Borders Group bankruptcy and liquidation. The direct impact came from the loss of $900,000 in sales to Borders itself; indirect consequences included reduced consumer purchasing at other bookstores and reduced remainder sales in a market temporarily saturated by the Borders liquidation, resulting in an increase in Courier’s obsolescence reserve.