Visant Corp., the scholastic goods direct marketer, reported net income of $4.1 million for the first quarter, compared to a net loss of $2.7 million last year.
The Armonk, NY firm posted net sales of $265.5 million for the quarter ended April 4, a 7% increase over $247 million in the prior year.
Management attributed these results partly to income from the company’s acquisition of Phoenix Color Corp last year.
“We are quite pleased with our first quarter performance, driven by strong results in our scholastic segment, and the benefit of the acquisition of Phoenix Color,” said CEO Marc Reisch, in a statement. “However, we continue to see challenges in our marketing and publishing services segment due to the weak advertising environment as well as a significant spending decline in elementary/high school publishing which we expect to continue in the second quarter.”
