Visant Posts Declines in Net Sales Across All Three Market Segments

Net sales for the Memory Book segment were $257.6 million, a decrease of 4 percent compared to $268.8 million for the second fiscal quarter of 2011. This decrease was primarily attributable to lower volume.

Net sales for the Marketing and Publishing Services segment decreased $9.3 million, or 10 percent, to $79.4 million from $88.7 million for the second fiscal quarter of 2011. This decrease was attributable to lower volume in our direct mail and publishing services operations partially offset by higher volume in our sampling operations.

The Scholastic segment reported Adjusted EBITDA of $26.4 million, a decrease of $3.6 million compared to $30.0 million for the second fiscal quarter of 2011. This decrease was primarily due to lower overall volumes in our jewelry and announcement products.