Valassis' shared mail, FSI, neighborhood targeted businesses see Q4 growth

Valassis reported fourth-quarter revenues from shared mail of $341.9 million, an increase of 2% compared with the prior year. Full-year 2010 revenues in the segment were $1.3 billion, a 2.2% increase year-over-year.

The marketing services company's neighborhood targeted business saw Q4 2010 revenue of $149.9 million, an increase of 6.2% compared with the prior fourth quarter. Full-year 2010 revenues in the segment were $479.9 million, representing growth of 7.9% year-over-year.

The neighborhood targeted segment was negatively impacted when client Ultimate Acquisition Partners filed for Chapter 11 bankruptcy protection in January, said Valassis.

The marketing services provider reported free standing insert revenue of $86.3 million for the fourth quarter, a year-over-year increase of 3.7%. For the full year, FSI revenue increased 1.7% compared with 2009 to $367.6 million.

Revenue from the company's international, digital media and services business grew 16.4% year-over-year to $53.1 million in the fourth quarter. Full-year revenue for the business increased 12.5% year-over-year to $178.8 million.

The company's overall Q4 2010 revenue grew 4.3% compared with 2009 to $631.2 million, while its full-year revenue increased 4% year-over-year to $2.3 billion.

“Overall results were consistent with our long-term growth goals to drive single-digit revenue growth,” said Alan Schultz, the company's president and CEO, on an earnings call.

Fourth-quarter net earnings increased 3.3% to $24.8 million, while net earnings for the full-year grew 477% year-over-year to $385.4 million. Operating income dropped 9.2% year-over-year to $56.2 million in Q4, but increased $290% to $715 million for the full year.