Martha Stewart Living Omnimedia announced its results today for the first quarter of 2005.
With Stewart now out of prison, her company still took a net loss for the first quarter, but sees some improvements.
According to a press release:
Revenues for the first quarter of 2005 were $38.7 million, compared to $44.5 million in the prior year’s quarter. Operating loss for the first quarter was $(19.8) million, compared to an operating loss of $(16.5) million for the first quarter of 2004. Operating income before depreciation and amortization, and the amortization of non-cash equity compensation (“OIDA”) for the first quarter of 2005 was a loss of $(14.9) million, compared to OIDA of $(13.4) million in the same period last year. Loss per share from continuing operations was $(0.37) for the first quarter of 2005, compared to a loss per share from continuing operations of $(0.39) in the first quarter of 2004.
The company recognizes the potential for more losses, but remains optimistic.
Susan Lyne, President and CEO, said: “We see early signs of improvement in our core publishing business, and while this will not be an overnight recovery, we believe this trend will continue over the long term.”
The company is also showing some excitement for its recent deals with SIRIUS and Warner Home Video.
Lyne said, “Our recent announcements of exclusive deals with SIRIUS Satellite Radio to launch the first channel dedicated to women’s lifestyles and with Warner Home Video to distribute a full line of how-to DVDs demonstrate our ability to leverage the brand, our content, and our strong consumer relationships to create long-term value. Both partnerships present a tremendous opportunity to make our content more accessible to our loyal customer base and reach out to a new audience.”
The company’s quarterly revenue decreased to $38.7 million, from $44.5 million the previous year.
Chris is a staff writer for Murdok. Visit Murdok for the latest ebusiness news.
