Visant’s Net Income Slumps on Nearly Flat Net Sales

The Scholastic segment reported adjusted EBITDA of $30.0 million, a decrease of $0.8 million compared to $30.8 million for the second fiscal quarter of 2010. This decrease was primarily due to higher precious metal costs.

Adjusted EBITDA for the Memory Book segment was $141.7 million, a decrease of $3.2 million compared to $144.9 million for the second fiscal quarter of 2010. This decrease was primarily attributable to lower volume.