Summary:

A soft retail market and the generally poor state of magazine advertising were reflected in Martha Stewart Living Omnimedia’s earnings in Q2…

Martha Stewart
photo: Splash News

A soft retail market and the generally poor state of magazine advertising were reflected in Martha Stewart Living Omnimedia’s earnings in Q2. The company swung to a $6.1 million loss on a $5.5 million impairment charge tied to an equity investment. And while total revenues fell 27 percent to $56.9 million, digital ad dollars grew 28 percent to $4.1 million.

That’s not to say all is well for MSLO’s online business, but it appears to be improving. The internet segment posted an smaller operating loss in Q2 of $500,000 versus a loss of $2 million the year before. On the print side, the story is the same throughout the industry, as MSLO’s publishing revenues declined 27 percent to $33.5 million, as ad pages continued fall.

2Q 2009 2Q 2008
EPS -$0.12 $0.01
Net Income -$6.1M -$1.7M
Revenue $56.9M $77.1M

Earnings release | Webcast (10:00 AM EDT) | Transcript (via Seeking Alpha)

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