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

The Memory Book segment reported Adjusted EBITDA of $147.3 million for the nine-month period, a decrease of $13.8 million, or 9 percent, compared to $161.1 million for the nine-month period ended October 1, 2011. This decrease was primarily due to lower volume and increased pension expense, partially offset by savings from previously announced facility consolidations.