Courier Corporation CRRC, one of America’s leading book manufacturers and specialty publishers, today announced results for the quarter ended December 27, 2008, the first quarter of its 2009 fiscal year.
“Against this dark picture, we had isolated successes in publishing and a generally positive quarter in book manufacturing, with a small gain in the religious market and robust growth in sales of four-color textbooks and trade books. Unfortunately, we also saw a continuing decline in demand for one- and two-color work, which led to reduced capacity utilization at several plants. As a result, with great regret, earlier this week we announced the closing of the smallest of these facilities, Book-mart Press in North Bergen, New Jersey.
The book manufacturing segment focuses on three publishing markets: education, religious, and specialty trade. Sales to the education market were up 4% in the quarter, primarily from sales of four-color textbooks for colleges and universities. Sales to the specialty trade market were up 10%, again driven by increased four-color demand. Sales to the religious market were up 1% from last year’s first quarter, in keeping with long-term growth expectations in the low single digits.
Read the full article at http://news.moneycentral.msn.com/ticker/article.aspx?symbol=US:CRRC&feed=BW&date=20090114&id=9512947
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225 Million-Strong Religious Market (USA)
About Me
- kevinjwright
- Denver, Colorado, United States
- Kevin J. Wright is one of the world's most recognized religious travel and hospitality authorities. He founded and served as President of the World Religious Travel Association, the leading organization dedicated to the 300 million traveler faith tourism industry. He also served as Chairman of the World Religious Travel Expo, drawing more than 30 countries from around the world. Wright has been interviewed by the CBS Early Show, TIME Magazine, USA TODAY, Wall Street Journal, The New York Times, National Public Radio (NPR), National Geographic, Forbes Traveler, Los Angeles Times, Boston Globe, and dozens of other media outlets. He is the author of four travel guidebooks.
