Valassis sees fourth quarter revenue drop

Media and marketing services company Valassis Communication Inc. reported a fourth quarter revenue of $626.3 million, down 5.3% from $661.5 million for the prior year. The company said the drop was due “primarily to the impact of the continued uncertainty in the global macroeconomic environment.”

The company reported a quarterly net loss of $222 million, or $4.63 per share, compared to net earnings of $20.6 million, or 43 cents per share, in the prior year quarter.

For the full year 2008, Valassis saw a net loss of $207.5 million, or $4.32 per share, as compared to full year 2007 net earnings of $58 million