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

Book manufacturing revenues were down 8%, reflecting declines in educational and religious sales. In education, solid growth in college textbook sales was offset by the effects of widespread budget shortfalls at the elementary and high school levels. Religious sales were also down for the year, reflecting the recession’s impact on religious donations. In specialty trade, the company’s successful pursuit of new customers enabled a modest rise in sales despite overall market weakness.