MSLO Reports $7.3M Loss
Publishing division down 9 percent year-to-date.
Martha Stewart Living Omnimedia reported its third quarter financials today, announcing a $3.7 million net loss, down slightly from a $4.4 million loss for the same period in 2007. The company generated $66.5 million in revenue, down from $69.2 million during the same period last year.
Year-to-date, MSLO reported a $7.3 million net loss, down from the $23 million loss it reported through the first nine months in 2007. Revenue, however, was $211.4 million, up slightly from $209.4 million during the same period last year.
Meanwhile, MSLO’s publishing division posted $121.6 million in revenue year-to-date, down roughly 9 percent from $134.3 million during the same period last year. Those losses were offset, in part, by the company’s gains in its merchandising ($43.9 million, up 26 percent) and broadcasting ($36.2 million, up 28 percent) businesses.
MSLO attributed third quarter publishing declines to “lower advertising pages, a shift in timing of special issues and the absence of Blueprint [which shuttered late last year].” Those losses, the company said, were partially offset by rate gains.
Digital ad revenue increased 35 percent year-over-year, the company said.
Adjusted third quarter publishing division EBITDA was $3 million, compared to $7.7 million in the prior year’s quarter, the company said.