Martha Stewart Living Omnimedia generated fourth quarter revenue of $118.5 million, up from $97 million in fourth-quarter 2006. The company’s net income more than doubled during that period, from $16.2 million to $33.3 million.
Among its individual segments, merchandising and Internet sales saw the biggest growth, although online sales make up a relatively small part of the company’s sales -- $7.2 million during fourth-quarter 2007, up from $5.4 million a year earlier.
For the year ending Dec. 31, the company generated $327.9 million, up from $288.3 million a year earlier, and turned a $17 million net loss into $10.3 million in net income. In 2006, Martha Stewart’s income took a $17.1 million hit due to a legal settlement.
During both the fourth quarter and the full year, the company’s expenses and operating costs grew more slowly than its revenue.
Separately, the company inked a deal with WeddingWire, an online nuptial destination. Under the terms of the agreement, Martha Stewart will acquire 40% of WeddingWire’s equity, and will share software, content and media sales. The company did not disclose what it paid for the equity stake.
Specifically, WeddingWire will offer its proprietary social network tools to the Weddings section of www.marthastewart.com, as well as sharing access to local vendors and wedding-planning tools. Some of WeddingWire’s technology may also appear on other Martha Stewart pages. Additionally, WeddingWire will feature Martha Stewart content. WeddingWire also named Martha Stewart its exclusive national advertising sales force.
