Martha Stewart Profit Dips as Ad Sales Drop
Bloomberg News
Martha Stewart Living Omnimedia Inc. said fourth-quarter earnings fell as advertising slumped and 2002 profit may miss estimates.
Net income dropped 3.3% to $5.73 million, or 12 cents a share, from $5.93 million, or 12 cents, in the year-earlier period. Sales fell less than 1% to $85.1million.
Sales were hurt by a drop in Shares of Martha Stewart Living rose 64 cents to $16.20 on the NYSE.
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