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August 30, 2015 3:28 AM ET

Media

Company Overview of VISANT Corporation

Company Overview

Visant Corporation, together with its subsidiaries, provides marketing and publishing services for the school affinity, and educational and trade publishing and packaging markets. The company operates in three segments: Scholastic, Memory Book, and Publishing and Packaging Services. The Scholastic segment produces, markets, and sells class rings, as well as various graduation products, including caps, gowns, diplomas and announcements, graduation-related accessories, and other scholastic affinity products to students and administrators in high schools, colleges, and universities through retail channel and online. This segment also offers championship rings for professional sports teams and a...

357 Main Street

Armonk, NY 10504

United States

Founded in 2003

3,404 Employees

Phone:

914-595-8200

Key Executives for VISANT Corporation

Chief Financial Officer and Senior Vice President
Age: 54
Director, Chief Executive Officer of Jostens, Inc and President of Jostens, Inc
Age: 54
Compensation as of Fiscal Year 2015.

VISANT Corporation Key Developments

VISANT Corporation Announces Retirement of MarcL. Reisch, President and Chief Executive Officer and Chairman

Mr. MarcL. Reisch, President and Chief Executive Officer and Chairman of Visant Corporation gave notice of his retirement from Visant on August 21, 2015, effective immediately. Mr. Reisch has been appointed to the role of Non-Executive Chairman Director to ensure that his experience, advice and assistance remain available to Visant. In addition to retaining a role with the company’s Board of Directors and the Executive Committee of the Board, the Compensation Committee of the Board of Directors approved the entry into a consulting agreement between Visant Holding Corp., Registrant’s parent, with Mr. Reisch under which he will provide strategic advisory services as requested, with a term through July 2, 2017, unless earlier terminated. His consulting services will be compensated with a monthly consulting fee and the opportunity for a cash bonus, subject to the occurrence of certain events, including a change in control.

VISANT Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 4, 2015; Announces Impairment Charges for the Second Quarter Ended July 4, 2015

VISANT Corporation announced unaudited consolidated earnings results for the second quarter and six months ended July 4, 2015. For the quarter, the company announced net sales of $380,369,000 compared to $389,444,000 for the same period a year ago. Operating income was $91,909,000 compared to $142,606,000 for the same period a year ago. Income before income taxes was $63,297,000 compared to $103,991,000 for the same period a year ago. Income from continuing operations was $21,997,000 compared to $56,472,000 for the same period a year ago. Net income was $22,064,000 compared to $64,141,000 for the same period a year ago. EBITDA was $111,742,000 compared to $155,437,000 for the same period a year ago. Adjusted EBITDA was $162,007,000 compared to $162,309,000 for the same period a year ago. The decrease in net income was primarily attributable to a $52.1 million non-cash impairment charge associated with the sale of Phoenix Color Corp. in the Publishing and Packaging Services segment. Capital expenditures from continuing operations were $6.9 million. Net debt was $1.456 billion at the end of second quarter 2015. For the six months, the company announced net sales of $549,979,000 compared to $558,012,000 for the same period a year ago. Operating income was $106,392,000 compared to $155,981,000 for the same period a year ago. Income before income taxes was $40,601,000 compared to $78,583,000 for the same period a year ago. Income from continuing operations was $7,467,000 compared to $42,956,000 for the same period a year ago. Net income was $7,640,000 compared to $54,240,000 for the same period a year ago. EBITDA was $137,798,000 compared to $181,450,000 for the same period a year ago. Adjusted EBITDA was $193,424,000 compared to $194,032,000 for the same period a year ago. Capital expenditures from continuing operations were $16.5 million. For the second quarter ended July 4, 2015, the decrease in net income attributable to a $52.1 million non-cash impairment charge associated with the sale of Phoenix Color Corp. in the Publishing and Packaging Services segment. The company also announced that additionally, included in other special charges for the three months ended July 4, 2015, were $53.3 million of goodwill impairment charges associated with the sale of Phoenix Color Corp. in the Publishing and Packaging Services segment.

VISANT Corporation to Report Q2, 2015 Results on Aug 14, 2015

VISANT Corporation announced that they will report Q2, 2015 results at 10:00 AM, Eastern Standard Time on Aug 14, 2015

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 12, 2015
Phoenix Color Corp.
 

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