Martha Stewart Living Omnimedia Inc. (MSO: Quote) Tuesday released the financial results for the fourth quarter, reporting a decline in profit to $1.11 million, or $0.02 per share, from $4.19 million, or $0.07 per share reported for the corresponding quarter last year.
The results for the latest quarter reflected the absence of a gain on sale of a cost-based investment totaling $7.6 million in the year-ago quarter.
Meanwhile, total revenues for the quarter declined to $56.4 million from $61.7 million in the prior year, echoing lower revenues in the publishing and broadcasting segments.
Analysts polled by Thomson Reuters expected the company to record revenues of $56.85 million for the quarter. Analysts’ estimates typically exclude special items.
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by RTT Staff Writer
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