Martha Stewart Living Omnimedia reported a 25 percent rise in third-quarter earnings yesterday, which it said resulted from new lines of business and cost controls.
The book, magazine and catalog publisher also announced multi-year merchandising partnerships with Bernhardt Furniture and Shaw Industries to design and market home furniture and floor coverings bearing the Martha Stewart Signature label.
According to MSO, its third-quarter net income jumped to $4.8 million, or 10 cents per share, from $3.8 million, or 8 cents per share, for the same period last year. It announced a revenue increase of 13 percent to $69.6 million.
For the nine months ended Sept. 30, 2001, revenue rose 5 percent to $210.6 million from $200.2 million in the comparable period last year. Earnings per share for the first nine months of 2001 were 33 cents, up from 31 cents for the first nine months of 2000.
Income from operations for third-quarter 2001 increased 41 percent to $7.4 million from $5.2 million.
For the nine-month period, net income rose 5 percent to $16.2 million, up from $15.4 million in 2000.