Martha Stewart Living Omnimedia, Inc. today announced its results for the third quarter ended September 30, 2011. The Company reported revenue for the third quarter of $52.2 million.
Revenues were $52.2 million in the third quarter of 2011, compared to $49.7 million in the third quarter of 2010, as higher merchandising revenue was mostly offset by modest declines in publishing revenue.
Adjusted EBITDA for the third quarter of 2011 was a loss of $(2.3) million, compared to a loss of $(5.6) million in the prior year period.
Operating loss for the third quarter of 2011 amounted to $(9.3) million, which included a $(3.8) million restructuring charge in the quarter related to changes in executive management and professional fees. Operating loss for the third quarter of 2010 was $(7.9) million. Absent the restructuring charge, operating loss improved year-over-year helped by higher merchandising profits and a reduced operating loss in broadcasting.
Net loss per share was $(0.18) for the third quarter of 2011, compared to a net loss per share of $(0.16) for the third quarter of 2010.