Martha Stewart Q3 Loss Narrows

(RTTNews) - Martha Stewart Living Omnimedia, Inc (MSO) Tuesday reported a narrower third-quarter loss in the absence of goodwill impairment and restructuring charges, despite lower revenues.

For the three-month period, the company reported net loss of $4.2 million or $0.06 per share, compared with $50.8 million or $0.76 per share last year. The company said its last year results included a $44.3 million non-cash impairment charge reflecting the write-down of goodwill related to the company's publishing segment.

On average, two analysts polled by Thomson Reuters expected the company to report loss per share of $0.05 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues were $33.8 million, down from prior year's $43.5 million, as growth in merchandising revenues was offset by lower revenues from Publishing and Broadcasting. Analysts expected the company to generate revenues of $40.35 million.