Valassis Reports Net Earnings Increase, Revenue Decline

International, Digital Media & Services: Revenue for the third quarter was $40.0 million, up 4.4% compared to the prior year quarter. Excluding revenue from previously announced divested and discontinued operations of $3.8 million and a $0.9 million impact of currency fluctuations, revenue was up 18.6% compared to the prior year quarter. Segment profit for the quarter was $6.9 million compared to a loss of $4.0 million in the prior year quarter due primarily to the increase in U.S. coupon clearing volume and the discontinuance of underperforming businesses. According to NCH Marketing Services, Inc. (our coupon-processing and analytics subsidiary), year-to-date reports show consumer packaged goods coupon distribution up 11% and coupon redemption up 23% compared to the same period last year.