Updated from 7:50 a.m. EDT
Martha Stewart Living
posted a wider first-quarter loss but said ad revenue rose 20%.
For the quarter ended March 31, the New York publishing company lost $12 million, or 23 cents a share, compared with the year-ago $7 million, or 13 cents a share. The latest-quarter loss included 11 cents a share in costs tied to the warrant issued in connection with a syndicated TV show. Excluding those costs, the quarterly loss was 12 cents a share.
Analysts surveyed by Thomson Financial were looking for a 17-cent loss.
Revenue rose 7% from a year ago to $66 million. Advertising revenue rose 20% to $21.4 million. The company said advertising revenue growth continues to exceed page growth, "a strong trend from last year that continued through this quarter."
The company guided to second-quarter revenue of $69 million to $72 million and full-year revenue of $330 million to $340 million. Analysts were looking for $340 million for the year.
The company also announced an agreement with warehouse club giant
to sell co-branded food. The move is the latest in a series of licensing deals for Martha Stewart, which is looking to expand its branded products beyond its prior offerings with