Martha Stewart (MSO) missed boths Q1 EPS and revenue estimates, and knocked down guidance for Q1 and 2008, citing an “uncertain economic climate“. It said it would “maintain a close eye on the economy in general and on the advertising marketplace specifically.”
That said, MSO reported okish ad revenue and good growth in its Web properties. It also went ahead and placed a few bets, buying the rights to celebrity chef Emeril Lagasse‘s brand/franchise for $50 million ($45 million cash, $5 M stock) plus up to $20 million more in earnouts. The company also bought a 40% stake in Wedding Wire, a wedding planning/social network site in the Knot.com vein.
Revenue: $118.5 million, up 22% y/y, missed $121.7 million consensus
EPS: 63 cents, up 2x y/y but below 65 cents consensus.
Guidance: Predicts Q1 revs of $66-67 million, vs. $71 million consensus
Conference call at 10am.
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