Visant Posts a Larger Net Loss for Latest Quarter on Lower Net Sales

• Net sales for the Scholastic segment for the nine-month period ended Sept. 29, 2012 decreased by $15.9 million, or 5 percent, to $325.1 million vs. $340.9 million for the nine-month period ended Oct. 1, 2011. This decrease was primarily attributable to lower overall volume in our jewelry and announcement products, as well as a shift in jewelry sales metal mix to lower priced metals.