Martha Stewart Living Omnimedia Q1 Loss Narrows - Quick Facts

(RTTNews) - Martha Stewart Living Omnimedia Inc. (MSO) said that its net loss for the first quarter of 2014 narrowed to $2.60 million from $3.27 million in the first quarter of 2013. But, net loss per share was $0.05, same with last year. Included in the latest-quarter results was the planned $2.1 million accelerated amortization related to vacating space in the Company's headquarters.

Total operating loss for the first quarter was $2.2 million compared to a loss of $3.0 million in the prior-year period. The first quarter of 2013 included a net gain on the sale of a subscriber list of $2.7 million.

Revenues for the quarter declined to $33.3 million, from the prior year's $37.2 million, due largely to lower digital and print advertising revenues.

Dan Dienst, Chief Executive Officer, said, "First quarter results reflect the current transition underway at the Company as we start to benefit from the significant changes we made at the end of 2013 to realign our business. We still have work to do but are encouraged by the early results of these decisions. Our efforts in 2014 are now keenly focused on growing our business across all verticals and with existing and new partners. As a company of ideas and inspirations, we are excited about the future growth for our peerless brand."