paidContent - Earnings: Martha Stewart Swings To $6.1 Million Loss; Digital Ad Dollars Rise 28 Percent
This story was written by David Kaplan.
A soft retail market and the generally poor state of magazine advertising were reflected in Martha Stewart Living Omnimedia’s earnings in Q2. The company swung to a $6.1 million loss on a $5.5 million impairment charge tied to an equity investment. And while total revenues fell 27 percent to $56.9 million, digital ad dollars grew 28 percent to $4.1 million. That’s not to say all is well for MSLO’s online business, but it appears to be improving. The internet segment posted an smaller operating loss in Q2 of $500,000 versus a loss of $2 million the year before. On the print side, the story is the same throughout the industry, as MSLO’s publishing revenues declined 27 percent to $33.5 million, as ad pages continued fall.
| 2Q 2009 | 2Q 2008 | |
|---|---|---|
| EPS | -$0.12 | $0.01 |
| Net Income | -$6.1M | -$1.7M |
| Revenue | $56.9M | $77.1M |
Earnings release | Webcast (10:00 AM EDT)
By David Kaplan