Yearbook, direct mail and fragrance and cosmetic sample printer Visant Corp., Armonk, NY reported a Q3 net loss of $1.9 million, compared to a net loss of $2.8 million a year earlier. Net sales increased 8% to $256.7 million. Sales increased in business "memory book" unit that sells school yearbooks, and in class rings.
CEO Marc Reisch says Visant has been focused on cost reduction and containment. “By the end of the year, we will have completed four facility consolidations. The significant cost savings from these consolidations will provide important cushion in this difficult economic environment.”
Net sales in its memory book segment increased $2.8 million, or 4%, to $74.9 million in the quarter over the prior year, due to account growth and the acquisition of assets from Publishing Enterprises, Inc. made in Q4 2007.
Marketing and publishing services segment sales were up $13.5 million, or 11%, to $136.2 million. This increase was attributed to incremental volume from the Phoenix Color Corp. acquisition, completed in April. The increase was offset by lower volume in our educational book component and direct mail operations.
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