Outdoor Systems, Valassis, Advo, report earnings

Published on .

Three major players in outdoor advertising or marketing services reported profit increases of as much as 74%: Outdoor Systems, Phoenix, saw net income soar 74.1% to $4.8 million in the first quarter. Net revenue was up 17.4% from a year ago, to $172.2 million. "We are particularly proud of the strides we have made in preparing our company for the loss of tobacco, and we are excited about the bright future of our industry and our company,'' said Arte Moreno, president-CEO of the U.S.' largest out-of-home media company.

Valassis Communications, Livonia, Mich., reported a 30.4% increase in net earnings for the first quarter vs. a year ago. Net earnings hit $33.9 million, on 8% higher revenue of $222.2 million. The marketing services company attributed the results primarily to the continued strength of its free-standing insert (sales up 7% to $167.7 million) and Valassis Impact Promotions (up 16% to $34.8 million) businesses.

Advo, the direct shared-mail company based in Windsor, Conn., said it had net income of $6.1 million for the second quarter, ended March 27, up 13% from the previous year. Revenue was flat at $253.5 million. The quarter's results were affected by a one-time severance charge of $1.8 million.

Copyright April 1999, Crain Communications Inc.

Most Popular
In this article: