Martha Stewart marks profitable year
February 20, 2008,
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.
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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