Visant Announces Q3 Results, Reports Consolidated Net Loss of $27 Million

Adjusted EBITDA for the Scholastic segment was a loss of $8.7 million for the third fiscal quarter of 2013, compared to a loss of $9.1 million for the third fiscal quarter of 2012, due to higher professional championship volume and lower overall costs.

Adjusted EBITDA for the Memory Book segment for the third fiscal quarter of 2013 was $21.6 million, a decrease of $1.4 million, compared to $23.0 million for the third fiscal quarter of 2012. This decrease was primarily attributable to lower volume and higher variable compensation costs, partially offset by the impact of cost saving initiatives and lower pension expense.