Profit declines at Courier

Book manufacturer and publisher Courier Corp. said today its first-quarter profit fell about 10 percent.

The company said the decline was mainly due to a slowdown in textbook demands and a disappointing holiday season

Quarterly earnings fell about 10 percent to $4 million, or 32 cents per share, from $4.5 million, or 36 cents per share, during the same period last year.

Revenue for the quarter rose nearly 12 percent to $64.3 million from $57.7 million.

The company, which is based in North Chelmsford, said textbook orders slowed in the fall, which affected its manufacturing margins, but a sharp upturn helped stem losses in the quarter.

"A pause in textbook orders in the early fall and a cautious holiday retail environment put pressure on both sides of our business this quarter," said Courier chairman and chief executive James F. Conway III. "Yet a closer look at our performance reveals grounds for optimism about the next several quarters."

Conway maintained its 2007 guidance for between $2.20 and $2.30 in per-share earnings, and between $304 million and $311 million in revenue. (AP)