Martha Stewart Living Omnimedia reported their fourth quarter and full year financials this morning, beating Wall Street estimate and once again has shown a profit. Stronger revenue from the broadcasting, digital and merchandising businesses contributed to the successful quarter. The dip in publishing revenue was attributed to lower subscriptions revenues, which offset the segment’s first ad gains since the 2nd quarter of 2008.
MSLO reported 4th quarter revenue of $87.6 mln vs a Wall Street estimate of $84.94 mln. Revenue rose 20 percent over the same quarter last year. The company reported a net income of $20.8 million, or .37 cents a share, compared with a loss of $8 million, or .15 cents a share, a year earlier.
This quarter marks a significant turnaround for the company. For the quarter, consumer engagement across MSLO’s website showed continued strength with page views up 85% year-over-year and monthly unique visitors up 73% in the same period. This significant increase in traffic helped push the 31% increase in ad revenue for the digital division.
Charles Koppelman, Executive Chairman and Principal Executive Officer, said, “In 2009, we continued to execute on our strategic goal of diversifying and expanding our Merchandising business with the addition of The Home Depot and other best-in-class partnerships. We are focused on strengthening our Broadcasting presence as evidenced by our recent announcement to offer a range of Martha Stewart-branded programming on the Hallmark Channel and the addition of “The Emeril Lagasse Show” in primetime on Ion Television. We see many opportunities before us as we focus on building our strong foundation and taking our Company into a new era.”
This post will be updated periodically through the trading day. -Kenn