Courier Reports Sales Up, Earnings Down Due to Plant Closure

Second-quarter revenues for the segment were $10.1 million, down 14 percent from $11.7 million in last year’s second quarter, with lower sales to Borders accounting for the largest part of the shortfall. The segment’s operating loss for the quarter was $1.2 million, excluding the bad-debt provision for Borders, compared to breakeven last year. For fiscal 2011 to date, segment sales were $20.9 million, vs. $23.3 million for the first half of last year. The segment’s operating loss through six months was $2.0 million, excluding the bad-debt provision for Borders, vs. $0.5 million for the corresponding period last year.