Quarterly revenues were $572.4 million, an increase of 5.2 percent compared to $544.1 million for the prior year quarter. Third-quarter net earnings were $27.0 million, an increase of 95.7 percent compared to $13.8 million in the prior year quarter. “Our strong results this quarter are consistent with our long-term plan to deliver annual mid-single-digit revenue growth and double-digit EPS growth,” said Alan F. Schultz, Valassis Chairman, President and CEO.
Alan F. Schultz
Under the terms of the settlement, News America Marketing will also enter into a 10-year shared mail distribution agreement with Valassis Direct Mail. In addition, the judge will issue a permanent injunction related to certain business practices at issue in the lawsuits.