Courier Reports Sales Up, Earnings Down Due to Plant Closure

Book manufacturing: religious sales rebound

Courier’s book manufacturing segment had second-quarter sales of $55.6 million, up 11 percent from $50.0 million in last year’s second quarter. The segment’s second-quarter operating income was $2.4 million, excluding restructuring costs, versus $2.8 million a year ago. Gross profit in the segment, excluding restructuring costs, was $8.9 million or 16.1 percent of sales, versus $9.7 million or 19.5 percent of sales in fiscal 2010, reflecting $1.1 million in increased depreciation related to the addition of new capacity in anticipation of future growth, as well as frictional costs related to the closing of the Stoughton plant and the transfer of existing one-color jobs to other facilities.