By: E&P Staff Valassis reported on Tuesday it expects low-to-mid single digit pro-forma revenue growth in the second half of 2008. Executives with the company are anticipating an increased adjusted 2008 EBITDA of between $260 and $280 million. In 2008, expected adjusted cash earnings per share is forecasted to be between $2.14 and $2.39.
"The ADVO integration cost synergies have exceeded our 2007 targets and our shared mail optimization efforts have improved margins," Alan Schultz, Valassis chairman president, and CEO, said in a statement. "We expect to continue driving cost synergies and optimization in the first half of 2008. In the second half of 2008, we will transition our focus to revenue synergies. This is expected to set the stage for long-term revenue and earnings growth."
Management with the company said it expects cost synergies to increase to $36 million in the next year. Though it warned it anticipates increased paper, selling, general and administrative costs as well as a decrease in free-standing insert margin.
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