Visant Reports 2.4% Decrease in 2013 FY Net Sales

Adjusted EBITDA for the Scholastic segment decreased $2.4 million to $18.8 million for the fourth fiscal quarter of 2013, compared to a $21.2 million for the fourth fiscal quarter of 2012, primarily due to lower sales volume.

Adjusted EBITDA for the Memory Book segment for the fourth fiscal quarter of 2013 was a loss of $3.2 million compared to a loss of $3.6 million for the fourth fiscal quarter of 2012. This slight improvement in Adjusted EBITDA was primarily attributable to the impact of cost saving initiatives and lower pension expense.