Gaiam 1Q revenue down, loss widens

Lifestyle media firm Gaiam, which also owns Spri fitness products, reported lower revenue and a loss for the first quarter 2011 due to falling sales.
Author:
Publish date:

Gaiam Inc. (Nasdaq:GAIA) reported lower revenue and a loss for the first quarter 2011, as its sales declined on reduced advertising and retailer Borders’ bankruptcy reorganization.

The Boulder Colo.-based healthy lifestyle media company and owner of Spri fitness products reported first-quarter revenue of $54.8 million – down 12 percent from $62.2 million during the same quarter a year ago.

Gaiam reported a quarterly net loss of $1 million, or a loss of $0.04 per share, compared to a loss of $300,000, or a loss of $0.01 per share a year ago.

“The decrease in net revenue was primarily attributable to a $7.7 million sales decline resulting from the company's previously disclosed plans to lower direct response television advertising spend, as well as unusually low in-stock levels at the company's largest retail customer as a result of the retailer's replenishment delays and reduced sales to Borders resulting from its reorganization,” company officials said in a statement. “These were partially offset by positive comparables in the company's catalog and Internet businesses and solar segment.”

-- Compiled by David Clucas


For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/stockreport

Related

gaiam.jpg

Gaiam Q1 sales up, loss widens

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 ...read more