Visant Corp.’s Income Increases, Sales Flat

Net sales of the Memory Book segment decreased $6.3 million, or 2%, to $276.9 million for the second fiscal quarter of 2010 compared to $283.2 million for the second fiscal quarter of 2009, primarily due to lower volume of memory books.

Net sales of the Marketing and Publishing Services segment increased $2.5 million, or 3%, to $90.5 million for the second fiscal quarter of 2010 from $88.0 million for the second fiscal quarter of 2009. This increase was primarily attributable to higher volume in our sampling operations offset somewhat by lower volume in our direct marketing operations.

Adjusted EBITDA for the Scholastic segment increased $1.2 million, or 4%, to $30.8 million for the second fiscal quarter of 2010 from $29.6 million for the second fiscal quarter of 2009. The increase was primarily due to higher prices in our jewelry and other scholastic products offset somewhat by higher precious metal costs year over year.

Adjusted EBITDA for the Memory Book segment increased $4.0 million, or 3%, to $144.9 million for the second fiscal quarter of 2010 compared to $140.9 million for the prior year comparative period. The increase in Adjusted EBITDA was primarily due to the impact of cost efficiencies.

Adjusted EBITDA for the Marketing and Publishing Services segment increased $4.0 million, or 21%, to $23.1 million during the second fiscal quarter of 2010 from $19.1 million in the second fiscal quarter of 2009. This increase was primarily attributable to higher volume in our sampling operations, synergies from facility consolidations and other operational cost reductions.

Net sales of our Scholastic segment for the six months ended July 3, 2010 increased by $7.6 million, or 3%, to $289.4 million compared to $281.8 million for the six months ended July 4, 2009. The increase was primarily attributable to higher prices in our jewelry and other scholastic products as well as the incremental impact from acquisitions completed during 2009 and 2010. The increase was offset somewhat by lower volume in our other scholastic products.

Companies:
Related Content
Comments