Martha Stewart Living Omnimedia Inc. reported a net loss of $2 million for the fourth quarter, off 134% from net income of $5.7 million the year before.
Revenue for the quarter ended Dec. 31, 2002 was $77.6 million, down from $82.7 million the past year.
Revenue from direct and online operations during the quarter was $13.7 million, off 17.7% from 16.7 the previous year.
The direct marketing and publishing firm attributed these results to charges during the quarter involved with restructuring its direct and online marketing operations.
The New York firm reported net income of $7.2 million for 2002, down 66.8% from $21.9 million in 2001. Revenue for the year was $295 million, up 2% from $288.62 million in 2001.
Revenue from direct and online operations for the year was $36.9 million, off 20% from $46.1 million in 2001.
According to news reports, the company suffered from both the restructuring and the investigations of CEO Martha Stewart over alleged financial impropriety.
Stewart reportedly said late Tuesday that the investigations were winding down.
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