Courier Reports Sales Up, Earnings Down Due to Plant Closure

Overall, Courier reported a net loss for the quarter of $4.8 million, compared to net income of $1.4 million in the second quarter of fiscal 2010. Excluding the restructuring costs and bad-debt provision, net income for the quarter was $350,000.

For the first six months of fiscal 2011, Courier’s revenues were $123.8 million, up 2 percent from fiscal 2010. Net loss for the year to date was $3.2 million vs. net income of $4.2 million in the first half of fiscal 2010. Excluding the second-quarter restructuring costs and bad-debt provision, net income for the first six months of fiscal 2011 was $2.0 million.