Book manufacturer and specialty publisher Courier Corporation (Nasdaq:CRRC) is down more than 15% today after announcing ahead of the opening it had a net loss for the third quarter. The North Chelmsford, Mass.-based company reported a net loss for the quarter ended June 28 of $12.4 million, or $1 per share, compared with a profit of $6.7 million, or $0.53 per share, for the same quarter a year earlier. Revenues were $73.4 million, unchanged from a year ago. Courier said the net loss was the result of a non-cash impairment charge of $23.9 million, or $1.25 per share, the product of weak performance at Creative Homeowner, one of its subsidiaries.

In today’s trading, Courier shares are down $3.45 at $18.96 at 9:42 a.m. ET, a 52-week low for the company.

For access to the full article, you must be a registered member - it's FREE.