Valassis Sees 2011 EPS of $2.76

Valassis VCI today provided financial guidance for 2011, expecting full-year diluted earnings per share (EPS) of $2.76 and a revenue increase in the mid-single digits from 2010. "We expect diluted cash EPS* of $3.71 and adjusted EBITDA* of approximately $355.0 million for 2011. We believe diluted EPS and diluted cash EPS* are the most relevant performance measures for our business, and we are calculating these based on an estimated 53.1 million in fully diluted shares outstanding as of Dec. 31, 2010." "Our full-year 2011 guidance excludes the effect of any potential stock repurchases during 2011. We expect 2011 capital expenditures of approximately $30 million to be used primarily for technology and new business initiatives."