Martha Stewart Living Omnimedia Inc's (MSO) quarterly sales missed expectations, hurt by lower advertising revenue at its broadcasting and publishing businesses.
Continue Reading Below
For the fourth quarter, a diversified media and merchandising company posted a net income of $4.2 million, or 7 cents a share, compared with $4.1 million, or 7 cents a share, a year ago.
Total revenue fell to $61.7 million.
Publishing revenue fell by 13% to $38.8 million while broadcasting revenue declined 40% to $9.8 million.
Analysts had expected the company to earn 6 cents share, excluding items, on revenue of $63.9 million, according to Thomson Reuters I/B/E/S.
Shares of the company closed at $4.50 on Wednesday on the New York Stock Exchange.