Vertis Communications posted a net loss of $41 million for the first quarter, compared to a $25.2 million net loss for the same period in the prior year.
The direct marketing services firm attributed this to “restructuring costs” and to volume declines in advertising inserts and direct mail.
The Baltimore-based company reported revenue of $303.7 million for the quarter ended March 31, an 8.2% decrease from $330.7 million last year.
The firm said its earnings before interest, taxes, depreciation and amortization declined to $7.1 million from $21.3 million last year primarily because of increases in restructuring related costs of $11.1 million.
Vertis said this reduced volume was offset by “improved pricing.”
