Valassis Q3 Profit Declines; Lowers Full-year 2013 Guidance - Quick Facts

(RTTNews) - Valassis (VCI) reported that its third-quarter net earnings decreased to $27.71 million or $0.70 per share, from $36.74 million or $0.90 per share, last year. Adjusted net earnings were $28.3 million or $0.72 per share, for the quarter.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.85 for the quarter. Analysts' estimates typically exclude special items. Revenues decreased to $489.38 million, from $523.82 million, a year ago. The company said the decrease in revenue was due primarily to an anticipated decline in revenues in the Neighborhood Targeted segment resulting from the change in certain client contracts to a fee-based media placement model, as well as the discontinuance of the sampling and solo direct mail products. Without the effect of these changes, adjusted revenues increased 4.3%. Analysts expected revenue of $494.90 million for the quarter.

The company revised its full-year 2013 guidance for earnings per share of between $2.74 and $2.84, from its prior guidance range of $3.05 and $3.20. Analysts expect the company to report full year 2013 profit per share of $3.09.