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

Net sales for the Scholastic segment for the nine-month period ended September 28, 2013 decreased by $7.9 million, or 2.4 percent, to $317.2 million compared to $325.1 million for the nine-month period ended September 29, 2012. This decrease was primarily attributable to lower volume in our announcement products and lower revenue from professional championship jewelry compared to 2012. Partially offsetting the decrease was the shift of approximately $4.0 million of jewelry sales to the 2013 fiscal year from the fall of 2012.