Courier Reports Sales Increase, Return to Profitability

For fiscal 2010 overall, Courier sales were $257.1 million, up 3 percent from $248.8 million in fiscal 2009. Net income for the year was $7.1 million, vs. a loss of $3.1 million last year. Excluding the fourth-quarter impairment charge, net income for fiscal 2010 would have been $10.2 million,

“In the current economy, we knew that sales growth would be hard to achieve,” said Courier Chairman and CEO James F. Conway III. “But we did it, returning to profitability while achieving higher sales in all three of our major book manufacturing markets and two of our three publishing brands. Once again we benefited from our balanced portfolio of markets and complementary businesses. Building on our strong customer relationships, we were able to grow share in key markets and secure additional business for the future. In addition, we made investments in our book manufacturing segment that have already begun improving performance in publishing as well.