Courier Reports Education Sales Up, Borders Fallout Induces Loss

For the first nine months of fiscal 2011, Courier revenues were $185.7 million vs. $186.9 in fiscal 2010. Its net loss for the year-to-date period was $6.3 million, compared to net income of $6 million in the first nine months of fiscal 2010. Excluding the third-quarter impairment charge and second-quarter charges for restructuring following a plant closing and a bad-debt provision related to Borders, adjusted net income for the first nine months of fiscal 2011 was $4 million.