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Martha Stewart Living Posts Wider Q2 Loss

Jul 27, 2005  •  Post A Comment

Martha Stewart Living Omnimedia reported a mixed bag of financial results Wednesday, as gains in its publishing division were offset by weakness in its television and Internet commerce operations.

The company reported a widened loss of $33.5 million versus a year-earlier loss of $17.8 million, hurt in part by a $16.8 million noncash charge related to the vesting of certain warrants granted in connection with the company’s new syndicated television show, as well as employee-related charges of $3.2 million.

The company’s television operation, which has struggled since the money-generating syndicated series “Martha Stewart Living” ceased production last September, reported a 40 percent revenue decline to $1.8 million, while the operating loss widened to $20 million from a year-earlier loss of $3.5 million.