Courier’s Strong Quarter for Book Manufacturing Boosts Its Results

For the year as a whole, specialty publishing sales were $40.8 million, down 11 percent from $46.0 million in fiscal 2010, with $3.3 million, or more than 60 percent of the decline, attributable to lost sales to Borders. The segment’s operating loss for the year was $4.1 million, excluding the second quarter bad-debt provision for Borders, versus a loss of $714,000 last year. In addition to lower sales, key factors in the loss included increased returns and the increased allowance for inventory obsolescence.