Visant’s Net Income Slumps on Nearly Flat Net Sales

The Marketing and Publishing Services segment reported Adjusted EBITDA of $19.5 million, a decrease of $3.6 million compared to $23.1 million for the second fiscal quarter of 2010. This decrease was primarily due to lower volume in our publishing services operations.

Net sales of our Scholastic segment for the six months ended July 2, 2011 increased by $2.6 million, or 1 percent, to $292.0 million compared to $289.4 million for the six months ended July 3, 2010. This increase was primarily attributable to higher volume and prices in our jewelry products.