Visant Corp. Reports Dip in Net Sales and Income

Net sales for the Memory Book segment were $375.9 million, a decrease of 3 percent compared to $386.8 million for the 2009 fiscal year. This decrease was primarily attributable to lower volume.

Net sales for the Marketing and Publishing Services segment decreased $10.7 million, or 3 percent, to $395.3 million during the fiscal year ended Jan. 1, 2011 from $406.0 million for fiscal 2009. This decrease was primarily attributable to lower volume in our publishing services operations offset in part by higher volume in our sampling and direct marketing operations.

The Scholastic segment reported Adjusted EBITDA of $79.4 million, a decrease of $1.8 million compared to $81.2 million for fiscal 2009. This slight decrease was primarily due to the impact of higher precious metal costs year-over-year offset somewhat by higher prices.

The Memory Book segment reported Adjusted EBITDA of $163.4 million, an increase of $8.2 million, or 5 percent, compared to $155.2 million for fiscal 2009. This increase was primarily due to the impact of cost reduction initiatives and efficiencies.

The Marketing and Publishing Services segment reported Adjusted EBITDA of $97.3 million, an increase of $3.5 million, or 4 precent, compared to $93.8 million during the full fiscal year 2009. This increase was primarily due to higher volume in our sampling and direct marketing operations and the impact of cost reduction initiatives, offset in part by lower volume in our publishing services operations.

Fourth Fiscal Quarter 2010 by Segment

Net sales of the Scholastic segment increased slightly to $137.8 million for the fiscal quarter ended Jan. 1, 2011, up from $137.7 million for the fourth quarter ended Jan. 2, 2010.

Net sales of the Memory Book segment increased slightly to $17.5 million vs. $17.4 million for the fourth quarter of 2009.

Net sales of the Marketing and Publishing Services segment decreased $3.7 million, or 4 percent, to $96.2 million for the fourth quarter of 2010 from $99.9 million for the fourth quarter of 2009. This decrease was primarily attributable to lower volume in our publishing services operations offset in part by higher volume in our direct marketing operations.

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