(RTTNews) - Wednesday, Martha Stewart Living Omnimedia, Inc. (MSO: News ) reported a wider net loss for the third quarter as the recessionary environment continued to impact advertising revenue.

The New York-based company's net loss widened to to $12.11 million or $0.22 per share from $3.75 million or $0.07 per share a year ago. On average, five analysts polled by Thomson Reuters estimated a loss of $0.09 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the third quarter of 2009 decreased to $49.8 million from $66.5 million from last year. Analysts expected revenues of $51.31 million for the quarter. The decline in revenue is primarily attributable to declines in advertising revenue and lower merchandising revenues partially due to the final revenue true-up from Sears Canada in last year's third quarter.

Segment wise, revenue from publishing decreased to $27.1 million from $34.5 million in the prior year quarter, due to a decline in advertising pages, subscription revenue, and lower newsstand sales. Broadcasting revenue dropped to $11 million from $14.3 million due to certain one-time payments in the prior-year period related to Emeril programming and a decrease in overall advertising revenue.
Internet revenue fell to $2.8 million from $3 million as revenues declined modestly due to timing of advertiser spending and lower advertising rates. Merchandising revenues decreased to $8.9 million from $14.6 million in the prior-year quarter.

The company's operating loss for the third quarter widened to $11.7 million from $3.5 million in the year-earlier quarter.

MSO is losing $0.29 or 5.49%, and is trading at $4.99 on a volume of 22 thousand shares on the New York Stock Exchange.

To receive FREE breaking news email alerts for Martha Stewart Living Omnimedia Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com