Martha Stewart Living Omnimedia Inc.’s income rose, but direct marketing revenue fell in the second quarter.
The company reported net income of $6.74 million for the second quarter ended June 30, up from $5.2 million for the same period last year.
The New York-based firm posted revenues of $78.6 million, up 16% from $67.8 million from the year-ago period.
But revenue for its direct and Internet marketing unit fell 27.1% to $8.1 million for the quarter from $11.6 million in 2001.
The company attributed the DM results to lower circulation of its Martha-by-Mail catalog.
While these overall results beat Wall Street expectations, continued probes into Stewart’s alleged insider stock trading have driven down the price of the company’s stock.
In addition, at least one other lawsuit alleging financial improprieties has been filed against the company, according to Newsday.
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