Valassis reported net earnings of $19.7 million for the second quarter, off $22.9% from net earnings of $25.5 million last year.
The developer of freestanding inserts reported revenue of $260.6 million for the quarter ended June 30, off 5.7% from revenue of $276.4 million last year.
“The first half of 2006 has been disappointing for our business and the industry in general,” said Alan F. Schultz CEO of the Livonia, MI firm in a statement. “We are excited about the prospects of our pending acquisition of Advo and the positive impact we believe the combination will have in creating value for both customers and shareholders.”
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