Advo Plans New In-Home Ad Programs
The Philadelphia program will be delivered on Tuesdays and Wednesdays and will cover 1 million households to start. The Akron-Canton program will cover 500,000 households and be delivered on Fridays and Saturdays.
Meanwhile, Advo lowered its estimate for first-quarter earnings ending Dec. 29, 2001, partly as a result of retail advertising softness in the pre-Christmas December period.
The company said it expects revenue for the first quarter of fiscal 2002 to be $285 million to $287 million. Advo also said the estimate included about $2.2 million of incremental expenses related to organizational realignments and additional security costs.
The revision also was caused by lower revenue during the holiday season, Advo said, as retailers trimmed advertising.
Advo also tempered its outlook for the rest of fiscal 2002, expecting revenue for the full fiscal year to grow in the low single digits.