Gaiam revenue held down by solar stake
Last Updated: 15:09 November 6, 2012
Gaiam's (Nasdaq: GAIA) revenue increased to $43 million in the third quarter, up from $41.8 million in the same quarter in 2011. The company's net loss per diluted share was 49 cents, up from a 5-cent loss last year.
Gaiam owns about 38 percent of Real Goods Solar (Nasdaq: RSOL), a turnkey solar-power installer also based in Louisville, and its equity in the company resulted in a $15.9 million loss.
Gaiam executives said the company's performance has improved since it deconsolidated with Real Goods Solar on Dec. 31.
Gaiam is focusing its efforts on media production and distribution, and that unit performed well, chief executive Lynn Powers said in the earnings statement.
In October, Gaiam signed a multiyear deal with The Jim Henson Co. to distribute DVDs and digital media in the United States and Canada. On Monday, Gaiam announced an exclusive three-year distribution agreement with Crown Media Family Networks, owner of the Hallmark Channel and the Hallmark Movie Channel. The deal gives Gaiam exclusive distribution rights to select originally family programming produced by the channels.
More breaking news...
Wobbekind to give econ forecast Monday
Colorado Gives Day set for Tuesday, Dec. 10
Ball Corp.'s chairman cashes in on stock
Colorado Gives Day is an initiative to increase
On Dec. 3, Hayes sold the stock at an average price of $49.47 for $989,400. Following the completion of the