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 on Wednesday also projected revenue for the current year above analysts' forecasts.
Its shares rose 30 cents to $18.35 in afternoon trading on the New York Stock Exchange. They have traded in a 52-week range of $14.76 to $23.21.
Martha Stewart Living said 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 15 percent 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.(Source)
RELATED: Martha Stewart has just purchased a condo on Charles Street in Manhattan for $16 million. The 4,800 square-foot space boasts five bedrooms, six baths and two terraces.
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