Overall, Martha Stewart Living Omnimedia’s (NYSE: MSO) Q3 earnings results showed improvement, as its net loss narrowed to a negative $4.9 million from a negative $7.9 million a year ago, largely on the renewed strength of its publishing unit and its merchandising deals. The company’s revenues were up 13 percent to $69.3 million in Q3, compared to $61.1 million for the same period last year, thanks to growing advertising as well as a book deal.
And while revenues for the MSLO’s internet segment were were up a healthy 17.9 percent, coming in at $3.3 million from to $2.8 million in Q306, expenses related to its revamped site caused a greater operating loss of $2.1 million, versus last year’s loss of $0.8 million. Other details from MSLO’s Q3 results included:
– Broadcasting: The end of a cable deal and the erosion of the daytime TV audience led to a 12.9 percent decrease in Q3 of $8.8 million from $10.1 million.
– Publishing: Q3 revenues rose 27 percent to $46.2 million from $36.3 million in the prior year’s quarter, led by strong gains at Living. Operating income jumped 181.8 percent to $6.2 million in Q3, from $2.2 million last year.