Martha Stewart up 3% on Q4 earnings beat

• Martha Stewart Living Omnimedia (MSO) has gained 3.1% after hours as it posted Q4 results beating on the top and bottom line.
• Operating income was $7M. For the full year, revenues were $141.9M vs. an expected $135.6M.
• Revenues by segment: Publishing, $24.6M (down 13.4%); Merchandising, $15.9M (down 12.8%); Broadcasting, $0.9M (up 19.2%).
• CEO Dan Dienst pointed to an improvement in operating income from streamlining spurred by the November partnership with Meredith Corp., which licensed Martha Stewart Living and Martha Stewart Weddings magazines.
• Yesterday, FBN Securities initiated coverage of MSO at Sector Perform.
• Conference call at 4:30 p.m. ET.
• Press release