In reporting second quarter earnings, Courier took a non-cash $15.6 million impairment charge related to performance at their Dover Publications unit, representing 100 percent of Dover’s goodwill. The company cites “the recent reduction in valuation multiples in the publishing industry and the US government’s projection of continued weakness in consumer spending for several quarters to come” in their “assessment of potential impairment in Dover’s business.” Sales at the book publishing division were $12.1 million for the quarter, down 28 percent from a year ago, with an operating loss of $556,000. But CEO James F. Conway III says, “After a long […]
