Martha Stewart Living Omnimedia Inc. said Thursday that its fourth-quarter profit rose 2.3 percent, boosted by a gain on the sale of its stake in a website.
For the quarter ended Dec. 31, the lifestyle, media and merchandising company reported net income of $4.2 million, or 7 cents per share, up from $4.1 million, or 7 cents per share, a year ago.
The recent quarter’s results included $4.7 million in “other” income, compared with $784,000 in the same period last year, largely as a result of the company’s sale of its interest in the WeddingWire website.
Revenue fell 15 percent to $61.7 million from $72.6 million on drops in advertising revenue at both its publishing and broadcasting divisions. Merchandising revenue increased 13 percent to $13.1 million.
For the full year 2011, Martha Stewart Living posted a net loss of $15.5 million, or 28 cents per share, compared with a loss of $9.6 million, or 18 cents per share, in 2010. Revenue fell to $221.4 million from $230.8 million.
Martha Stewart Living Omnimedia Inc., Martha Stewart Living, merchandising company, advertising revenue, net income
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