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15-01-2010 22:00:00

Courier Boosts Customized Textbook Capabilities With Acquisition of Highcrest Media

Relateret indhold

Courier Corporation (Nasdaq: CRRC), one of America’s leading book

manufacturers and specialty publishers, today announced that it has

acquired Highcrest Media LLC, a provider of software and solutions that

streamline the production of customized textbooks for use in colleges,

universities and businesses. Founded in 2006 and based in Wilmington,

Massachusetts, Highcrest has grown quickly through its combination of

easy-to-use Web-based technology and strong focus on the highest-growth

segment of the textbook market.

Courier’s acquisition of Highcrest complements its recent investment in

digital printing technology, which is also ideally suited to the

capacity and efficiency needs of this growing market. Together, the two

initiatives significantly strengthen Courier’s capabilities in digital

book manufacturing. Highcrest’s largest customer is also a Courier

customer.

“College professors around the country are flocking to this new

technology,” said Courier Chairman and Chief Executive Officer James F.

Conway III. “Using Highcrest’s software, they can create a textbook that

contains only the information they want to teach from—eliminating waste

and reducing costs. By bringing Highcrest Media to Courier, we are

placing ourselves at the forefront of this trend as a strategic resource

for a key customer base. Highcrest’s expertise fits perfectly into our

vision and portfolio.”

Highcrest President Michael Shea has been spearheading advances in

on-demand and Web-based technology for over a decade. “Our software has

won wide acceptance by making it easy for users to control the whole

process of generating customized content,” said Shea. “By joining forces

with Courier, we will extend our production capabilities by an order of

magnitude. At the same time, we add a significant capability to

Courier’s already industry-leading credentials in the textbook market.”

The acquisition is expected to be modestly accretive to Courier earnings

for its 2010 fiscal year. Acquisition terms were not disclosed.

About Courier Corporation

Courier Corporation prints, publishes and sells books. Headquartered in

North Chelmsford, Massachusetts, Courier has two business segments,

full-service book manufacturing and specialty book publishing. For more

information, visit www.courier.com.

This news release includes forward-looking statements. Statements

that describe future expectations, plans or strategies are considered

“forward-looking statements” as that term is defined under the Private

Securities Litigation Reform Act of 1995 and releases issued by the

Securities and Exchange Commission.

The words “believe,”

“expect,” “anticipate,” “intend,” “estimate” and other expressions which

are predictions of or indicate future events and trends and which do not

relate to historical matters identify forward-looking statements.

Such

statements are subject to risks and uncertainties that could cause

actual results to differ materially from those currently anticipated.

Factors that could affect actual results include, among others,

changes in customers’ demand for the Company’s products, including

seasonal changes in customer orders and shifting orders to lower cost

regions, changes in market growth rates, changes in raw material costs

and availability, pricing actions by competitors and other competitive

pressures in the markets in which the Company competes, consolidation

among customers and competitors, success in the execution of

acquisitions and the performance and integration of acquired businesses

including carrying value of intangible assets, restructuring and

impairment charges required under generally accepted accounting

principles, changes in operating expenses including medical and energy

costs, changes in technology including migration from paper-based books

to digital, difficulties in the start up of new equipment or information

technology systems, changes in copyright laws, changes in consumer

product safety regulations, changes in environmental regulations,

changes in tax regulations, changes in the Company’s effective income

tax rate and general changes in economic conditions, including currency

fluctuations, changes in interest rates, changes in consumer confidence,

changes in the housing market, and tightness in the credit markets.

Although

the Company believes that the assumptions underlying the forward-looking

statements are reasonable, any of the assumptions could be inaccurate,

and therefore, there can be no assurance that the forward-looking

statements will prove to be accurate.

The forward-looking

statements included herein are made as of the date hereof, and the

Company undertakes no obligation to update publicly such statements to

reflect subsequent events or circumstances.

Courier Corporation

James F. Conway III, Chairman,

President

and Chief Executive Officer

or

Peter M. Folger

Senior

Vice President and

Chief Financial Officer

978-251-6000

www.courier.com

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