Courier’s Strong Quarter for Book Manufacturing Boosts Its Results

For the full year, book manufacturing sales were $230.2 million, up 3 percent from $222.8 million in fiscal 2010. The segment’s full-year operating income was up 18 percent to $22.5 million, excluding the restructuring costs, versus $19.1 million in fiscal 2010.

The segment’s gross profit was $17.8 million or 26.7 percent of sales in the fourth quarter, versus $14.0 million or 22.8 percent a year ago. Gross profit for fiscal 2011 was $49.8 million or 21.7 percent of sales, excluding restructuring costs, versus $46.8 million or 21.0 percent of sales last year. The improvement in margins in a competitive pricing environment reflected an improved sales mix, operating efficiencies made possible by recent technology investments and the closing of the Stoughton plant, and increased recycling income.