Martha Stewart Living Omnimedia announced its results for the fourth quarter and full-year period ended December 31, 2004.
Revenues for the fourth quarter of 2004 were $60.2 million, compared to $70.9 million in the prior year’s quarter.
Susan Lyne, President and CEO, said, “2004 was a year of significant challenge for MSO, and we look at the coming year with both realistic expectations and optimism for the future.”
Operating loss for the fourth quarter was $(9.5) million, compared to operating income of $2.3 million for the fourth quarter of 2003. Operating income before depreciation and amortization, and the amortization of non-cash stock compensation (“OIDA”) for the fourth quarter of 2004 was a loss of $(1.8) million, compared to OIDA of $7.0 million in the same period last year.
“We will focus our efforts on our greatest assets: the Martha Stewart brand, our content and our creative capabilities. As the most comprehensive and trusted source of ‘how-to’ information for the home, we are actively exploring opportunities to develop new content, launch new brands and leverage our existing asset library through new distribution channels. We see opportunities to use our brand strengths and design capabilities to forge new merchandising and marketing partnerships,” said Lyne.
Loss per share from continuing operations was $(0.14) for the fourth quarter of 2004, compared to income per share from continuing operations of $0.05 in the fourth quarter of 2003.
Lyne continued, “The vitality of our brands is underscored by the positive circulation trends for both Martha Stewart Living and Everyday Food magazines, both of which outperformed industry metrics. We will focus on profitable business prospects, and our exit from the online and print catalog business during the fourth quarter of 2004 speaks to that.”
“As March approaches, all of us at MSO — just like our business partners and our many millions of loyal consumers — are eager to welcome Martha back. Both station affiliates and advertisers have embraced MSO’s new syndicated television program featuring Martha Stewart. Come fall, we’re certain viewers will too.”
Murdok | Breaking eBusiness News
Your source for investigative ebusiness reporting and breaking news.
