Martha Stewart Living 1st-quarter loss narrows

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News,Business

NEW YORK (AP) — Martha Stewart Living Omnimedia Inc.'s first-quarter loss narrowed, but softness in its publishing and broadcasting units persisted as revenue dropped.

For the three months ended March 31, the New York-based media and merchandising company lost $2.6 million, or 5 cents per share. That compares with a loss of $3.3 million, or 5 cents per share, a year earlier

Revenue fell 11 percent to $33.3 million from $37.2 million as publishing and broadcasting revenue declined.

The drop in publishing revenue is because of lower digital advertising revenue and the decision not to print Whole Living, a supplement issue of Everyday Food and a special issue publication in the quarter.

Merchandising revenue climbed 14 percent to $13.08 billion from $11.51 billion.

Its shares slipped 2 cents to $4.09 on morning trading. They have fallen more than 2 percent so far this year.

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