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.