Courier Swings from Loss to Net Income of $1.6 Million on Sales of $59 Million

As previously mentioned, the results for fiscal 2012 included restructuring costs for severance and post-retirement benefits, while last year’s second-quarter results included plant closing costs. Excluding these restructuring costs, the segment’s third-quarter operating income was $4.2 million, versus $5.1 million a year ago. On a year-to-date basis, operating income was $11.7 million, up 4 percent from $11.3 million for the first nine months of last year.