Visant’s Net Income Slumps on Nearly Flat Net Sales

Consolidated adjusted EBITDA totaled $240.0 million for the first six months of fiscal year 2011, a decrease of 4 percent compared to Adjusted EBITDA of $250.9 million for the comparable period in fiscal year 2010.

• Net sales for the Scholastic segment were $135.7 million for the second fiscal quarter of 2011, an increase of 3 percent compared to $131.7 million for the second fiscal quarter of 2010. This increase was primarily attributable to higher volume and prices in our jewelry products.