Martha Stewart Living Omnimedia Revenues Up 60 Percent

Martha Stewart Living Omnimedia Inc., New York, today reported that its revenues for the first quarter ended March 31 were $61.8 million, up 60 percent from $38.7 million in the prior year's first quarter. Susan Lyne, president and CEO, said in a statement: "The year is off to a robust start. Revenues are up 60 percent and every business segment is showing strong year-over-year gains in profitability. With the Macy's partnership, along with the successful launch of our KB Home initiative and the start up of our Martha Stewart Crafts business with EK Success, we are well on our way to executing our strategy to diversify our mix of merchandise and channels of distribution. These new businesses will create predictable, high-margin revenue streams, positioning the company for the long term and creating value for shareholders." The company also announced that next month, it will introduce the first test issue of Blueprint, a new magazine aimed at women aged 25-45. Blueprint will augment Martha Stewart Living's central focus with coverage of fashion, beauty, health, fitness, travel, technology and culture. The first issue will be on newsstands May 1.