Courier Reports Sales Up, Earnings Down Due to Plant Closure

Outlook

“While the first half of fiscal 2011 has not lived up to expectations, we continue to believe in the long-term strength of our major markets," said Mr. Conway. "Our steady investment in state-of-the-art manufacturing capacity reduced our earnings in the second quarter, but has placed us in an excellent position to meet the higher textbook demand we foresee. At the same time, we continue to take on more languages and more countries for our key religious customer in keeping with our long-term agreement. In addition, we expect annualized cost savings of approximately $4.5 million as the work of our Stoughton plant is absorbed into other Courier facilities.