Martha Stewart marks profitable year
February 20, 2008-- Home Textiles Today,
New York – A strong fourth quarter helped Martha Stewart Living Omnimedia cross into black ink for its full year results, posting 2007 net income of $10.3 million compared to a net loss of $17.0 million in the prior year.
Revenues for MSLO were up 14% to $327.9 million.
The fourth quarter included initial royalties from the Martha Stewart Collection at Macy’s, the size of which the company did not specify. Overall merchandising revenues for the quarter were $49.8 million, up 41.5% over $35.2 million in the prior-year period.
The company expects to make more profit on lower revenues in the current year. MSLO cfo Howard Hochhauser said 2008 guidance is for revenues of about $300 million and adjusted EBITDA from $23 million to $28 million.
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