Martha Stewart Living
Omnimedia Inc. (NYSE: MSO) today announced its results for the
first quarter ended March 31, 2013. The Company reported revenue for
the first quarter of $37.2 million.
Dan Taitz, Interim Principal Executive Officer, said, "First quarter results were a bit better than expected on the bottom line but overall in line with our plans as we position MSLO for the future. Our restructured Publishing business delivered solid digital advertising growth and reduced expenses. Our Merchandising business is performing as anticipated and we recently began offering initial products in JC Penney stores and on jcp.com. Overall we remain focused on taking the right steps to drive more profitable revenue from our strong brands and return the Company to sustainable growth."
First Quarter 2013 Summary
Total revenues were $37.2 million in the first quarter of 2013, compared to $49.8 million in the first quarter of 2012. Approximately $9 million of the revenue decline reflects the restructuring initiatives undertaken in our media business last year.
Total operating loss for the first quarter of 2013 was $(3.0) million, compared with a loss of $(4.2) million in the prior-year period. The first quarter of 2013 included a net gain on the sale of a subscriber list of $2.7 million.
Adjusted EBITDA was a loss of $(1.0) million for the first quarter of 2013, compared to a loss of $(1.8) million in the prior year period.
Basic and diluted net income per share was $(0.05) for both the first quarter of 2013 and 2012.
SOURCE Martha Stewart Living Omnimedia, Inc.
Originally published by Martha Stewart Living Omnimedia, Inc..
(c) 2013 PRNewswire. Provided by ProQuest LLC. All rights Reserved.
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