Martha Stewart Living Omnimedia Inc.’s profit shot up more than fivefold in the fourth quarter from a year ago amid a resurgence across its businesses which range from magazines and TV shows to home fashions.
Martha Stewart Living said Wednesday it earned $16.21 million, or 31 cents per share, for the three-month period ended Dec. 31, compared to $2.95 million, or 6 cents per share, in the year-ago period.
Revenue rose to $97.04 million from $84.64 million in the year-ago period.
Analysts polled by Thomson Financial expected earnings of 25 cents per share on $95 million in revenue.
“We head into 2007 with tremendous confidence in our strategic direction, creative vitality and ability to execute on plan,” Susan Lyne, president and CEO, said in a statement. “We have moved from a period of recovery to one of expansive growth, and remain focused on investing and delivering for our shareholders.”
Stewart, the namesake founder, completed her prison sentence in March 2005 for lying to investigators about a stock sale. Since then, Martha Stewart Living has stepped up a number of initiatives, from new magazines to developing branded homes with builder KB Home and photo products with Eastman Kodak Co. The company is also preparing for the fall launch of Martha Stewart Collection of home products that will be sold exclusively at Macy’s stores.
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