Courier Reports Education Sales Up, Borders Fallout Induces Loss

For fiscal 2011 to date, book manufacturing sales were $163.6 million, up slightly from $161.7 million in fiscal 2010. The segment’s operating income through nine months was $11.3 million, versus $12.2 million in fiscal 2010, excluding the second-quarter restructuring costs.

The book manufacturing segment focuses on three publishing markets: education, religious and specialty trade. Sales to the education market were up 10 percent in the quarter and up 6 percent through nine months, reflecting higher sales of four-color textbooks for colleges and universities. Sales to the religious market were down 3 percent from fiscal 2010’s third quarter, but up 6 percent at the company’s largest religious customer.