Courier’s Sales Off Overall, but Digital Business Up Sharply
“We were also pleased to see signs of a potential sales turnaround at Creative Homeowner after the long drought of the nationwide housing slump. In addition, thanks to its greatly reduced cost structure, most of Creative Homeowner’s sales increase went straight to its bottom line. With more hopeful signs appearing elsewhere in the U.S. economy, we look forward to a stronger spring throughout the segment.”
“Over the years we have learned to take quarter-to-quarter fluctuations in stride as we pursue our long-term goals,” said Conway. “One of the most valuable assets we bring to the task is the exceptional strength of our key customer relationships, as illustrated by our recent agreements. With the steps we have taken early in fiscal 2011, we are confident that we will be able to reap the rewards throughout the remainder of the year and beyond. For this reason we are raising our guidance for fiscal 2011 as a whole.
“For fiscal 2011 overall, we expect to achieve total sales of between $271 million and $283 million, an increase of between 5 percent and 10 percent over fiscal 2010. We expect earnings per diluted share of between $.90 and $1.20, versus our fiscal 2010 earnings of $.85 per diluted share, excluding last year’s impairment charge.
“In addition to measuring our performance by generally accepted accounting principles, we also track several non-GAAP measures including EBITDA (earnings before interest, taxes, depreciation and amortization) as an additional indicator of the company’s operating cash flow performance. This measure should be considered in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. In fiscal 2011, we expect EBITDA to be between $42 million and $47 million, compared to $38 million in fiscal 2010, excluding last year’s impairment charge.
“Factors not incorporated into our guidance include the possibility of future impairment or restructuring charges."