Courier Records Modest Declines in Q4, Net Loss for Fiscal Year

Outlook
“While we are encouraged by positive indicators in some areas of the economy, we have yet to see them in our own,” said Mr. Conway. “Consumers and retailers are still skittish, which affects all of our publishing businesses as well as many of our book manufacturing customers. School budgets will be hard pressed to grow in the near term, the environment for charitable donations remains uncertain at best, and pricing pressure everywhere is intense.