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| CRRC > SEC Filings for CRRC > Form 8-K on 16-Apr-2009 | All Recent SEC Filings |
16-Apr-2009
Results of Operations and Financial Condition, Material Impairments, Other Events, F
On April 16, 2009, Courier Corporation issued a press release announcing its financial results for the second quarter ended March 28, 2009. The full text of the press release is furnished as Exhibit 99.1 hereto.
On April 15, 2009, Courier Corporation concluded that a material charge to the goodwill associated with its wholly-owned subsidiary Dover Publications, Inc. ("Dover Publications") was required under generally accepted accounting principles in the United States of America. Due to a decline in sales and profits at Dover Publications in the first and second quarters resulting from the continued downturn in the economic environment and in consumer spending, the Company conducted an impairment test that indicated that the estimated fair value of Dover Publications' goodwill was less than its carrying amount. The pre-tax amount of the impairment charge was approximately $15.6 million, none of which will result in future cash expenditures.
On April 16, 2009, Courier Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.21 per share on its Common Stock. The full text of the press release is furnished as Exhibit 99.2 hereto.
(d) Exhibits.
99.1 Press release of Courier Corporation dated April 16, 2009 announcing financial results for the quarter ended March 28, 2009.
99.2 Press release of Courier Corporation dated April 16, 2009 announcing declaration of cash dividend.
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