Financial Report: Martha Stewart Posts Sales Gain

New York–Martha Stewart Living Omnimedia (NYSE: MSO) announced its results for the third quarter ended Sept. 30. Revenues for the quarter increased 13% to $69.6 million, and EBITDA increased 38% to $10.4 million. Revenues in the Internet/Direct Commerce segment increased 5%, to $9.9 million, reflecting revenues from The Wedding List business, partially offset by lower commerce and advertising revenues. Third quarter earnings before interest, taxes, depreciation and amortization, (EBITDA) increased 38%, to $10.4 million, compared to $7.5 million in the third quarter of 2000.

The Internet/Direct Commerce segment’s loss of $6.0 million was impacted by lower commerce and advertising revenues, as well as losses incurred by The Wedding List, acquired in March 2001. Depreciation and amortization increased to $3.0 million, primarily as a result of the occupancy of the Company’s new office facility in late 2000. Income from operations for the third quarter of 2001 increased 41% to $7.4 million, compared to $5.2 million last year.

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