Valassis, Livonia, MI, reported a 40% gain in third quarter net income, from $23.4 million to $32.7 million. Its revenue grew from $198.4 million to $214.3 million during the same period. The quarter ended on Sept. 30.
Mass-distributed products, such as free-standing inserts and run-of-press circulars, generated $146 million during the quarter, up 3.5% from third-quarter 2001. Cluster-targeted products saw the biggest year-over-year gains: They pulled in $43.7 million, up 17.2% from last year.
The One-to-One products division, which includes PreVision Marketing, a CRM agency, Valassis Relationship Marketing Systems (VMRS), which encompass promotions based on grocery store frequent shopper programs, and Promotion Watch sweepstakes security generated $11 million, up 13.4% from last year. Much of the gain was attributed to the consolidation of VMRS, a joint venture with Netherlands-based VNU, into Valassis financials.
Valassis also said that its market share had declined, and that it expected 2003 earnings to be off by between 8% and 18%.
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