MSLO Narrows Second-Quarter Net Loss
July 30, 2012,
NEW YORK-Martha Stewart Living Omnimedia (MSLO) reported a second-quarter net loss of $2.7 million, compared to a net loss of $2.9 million from the second quarter of last year.
The company was able to reduce its bottom-line loss through slimming down its expenses. As a dollar total, operating costs and expenses dropped 11.5 percent--although as a percentage of sales they increased 149 basis points to 106 percent.
Lisa Gersh, MSLO president and CEO, said the second-quarter results were "in line with our expectations for the quarter." Gersh added that the weakness in the publishing segment "will slow our planned return to profitability, but we continue to anticipate improving performance for the company in 2012."