Martha Stewart Living Omnimedia
beat Wall Street's estimates in the fourth quarter and said it expects earnings per share in 2001 to grow 20% to 25%.
The media and merchandising company reported earnings of $5.9 million, or 12 cents a share. In the same quarter a year ago, the company earned $2.4 million, or 5 cents a share. Six analysts polled by
First Call/Thomson Financial
offered a consensus estimate of 10 cents a share for the latest quarter.
Martha Stewart, which is based in New York, saw fourth-quarter revenue rise 20.5% to $85.5 million from $71 million in the year-ago period.
The company expects revenue to grow 10% in 2001, up from $285.8 million last year. In 2000, the company earned 43 cents a share, and the projected earnings growth range would imply a profit of 52 cents to 54 cents a share in 2001. Analysts expect the company to earn 55 cents for the year.
Martha Stewart lost 7 cents, or 0.3%, to $21.99 in recent
New York Stock Exchange