Gaiam Q1 sales up, loss widens
Broomfield, Colo.-based Gaiam reported a boost in revenue, but a slightly steeper loss for the first quarter 2012. Sales to businesses and direct-to-consumers were up.
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Gaiam (Nasdaq:GAIA) reported a boost in revenue, but a slightly steeper loss for the first quarter 2012. Sales to businesses and direct-to-consumers were up both more than 30 percent.
The Broomfield, Colo.-based lifestyle media firm, which owns Spri Fitness products and recently acquired Vivendi Entertainment, reported net revenue up 26.6 percent to $47.3 million in the first quarter. The figures include $300,000 from less than a week of owning Vivendi Entertainment.
Gaiam’s business segment grew by 30.7 percent, and its direct-to-consumer segement rose 32.6 percent.
The company’s quarterly net loss widened to $1.2 million (including $1.7 million in acquisition-related costs), versus a net loss of about $1 million a year ago.
“Our aggregator role with Target, as well as solid growth with several other large retailers, including Amazon and Wal-Mart, are driving growth in our business segment, CEO Lynn Powers said in the earnings release. “Our repositioned direct response television operations are also a catalyst for growth in our direct-to-consumer segment, as reflected by the success we are generating with our Jillian Michaels media fitness program.”
Chairman Jirka Rysavy projected increased profitability throughout the rest of the year.
–Ana Trujillo
