Martha Stewart Living Omnimedia's Net Income Drops 80% in Q4
But with its broadcasting segment showing improvement, the company's stock posts a 9% increase on the news.
The broadcasting segment at Martha Stewart Living Omnimedia improved while the company overall posted fourth-quarter net income that dropped 80%.
Investors viewed the financial metrics made public Wednesday as positive, and the company’s stock rose 9% during the regular session to $4.19 and was a bit higher in the after-hours session as well.
Income at Martha Stewart was $4.1 million on revenue that fell 17% to $72.6 million, with declines in both merchandising and publishing revenue. Also, year-ago figures included sales from a relationship with Kmart that has ended.
For the full year, Martha Stewart posted a $9.6 million loss, an improvement over last year's $14.6 million loss.