Martha Stewart Reports Increases in Publishing Revenue, Income for Third Quarter (posted 10/31)
Martha Stewart Living Omnimedia Inc. today reported increases in third quarter revenue across its publishing sector and overall business. The company’s overall revenue grew 48 percent in the third quarter to $61.1 million, up from $41.3 in the third quarter of 2005, while publishing revenue was up 32 percent to $36.3 million, from $27.6 million in the same period last year.
Increases in Martha Stewart’s publishing division were driven by higher advertising pages and rates, led by a 39 percent increase in ad pages at Martha Stewart Living and an 81 percent increase in pages at Everyday Food, the company said in a statement.
Operating income in publishing was $2.2 million for the quarter, up from a loss of $2.3 million last year. The increase in income was driven by a 75 percent increase in advertising revenue, the company said. Adjusted EBITDA was $2.9 million, compared to an adjusted EBITDA loss of $1.6 million in the third quarter of 2005. Overall, Martha Stewart Living Omnimedia reported an improved operating loss for the third quarter of $7.9 million, from $26.9 million a year ago.