Martha Stewart Living Omnimedia, Inc., had fourth-quarter revenue of $71 million, a 39% increase over fourth-quarter 1998’s $51.2 million. For the quarter, the company had net income of $7.9million, up 240% over 1998’s $2.3 million.
For the entire year, the firm’s total revenue increased 29% to $232.3 million, compared to $180 million in fiscal 1998. Net income rose 7.4%, from $23.8 million to $25.6 million. The increase was led by an 89% increase in Internet/Direct Commerce segment revenues, while Television segment revenues increased 59% and Publishing segment revenues grew 27%.
The quarter and the year ended Dec. 31.
Publishing segment revenues grew to $145 million from $127 million, up 15% over all of 1998’s level. Television segment revenues grew to $31 million from $23 million, up 31%. Merchandising segment revenues grew to $20 million from $15 million, up 35%. Internet/Direct commerce segment revenues posted gain of 145%, growing from $15 million to $36 million. The gains were the result of higher catalog circulation and increased Internet traffic.
Growth in the Television segment was largely due to the addition of a second half-hour to the syndicated daily program and a successful prime-time holiday special. Revenue growth in the Merchandising segment was due to the launch of three new branded product lines, including the launch of the Martha Stewart Everyday Garden line of tools and outdoor furniture products, Martha Stewart Home decorative fabrics, and Martha Stewart Everyday Baby baby line of nursery basics.
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