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Profits drop at Visant in 2Q

August
13

Visant Corp., an Armonk-based marketer of class rings and high school graduation products, reported net income of $84.5 million for the second quarter, down from net income of $94.2 million a year earlier.

Net sales of $498.8 million dropped from $567.6 million a year earlier.

Chief Executive Officer Marc Reisch said that the company’s marketing and publishing services business was hurt by lower advertising spending. He added that dramatically lower spending by state and local governments “has significantly eroded demand for elementary/high school book components from our publishing services operations. We expect these trends to continue in the third quarter.”

This entry was posted on Thursday, August 13th, 2009 at 12:56 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Earnings

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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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