Gaiam posts loss despite revenue gain
Last Updated: 14:28 March 19, 2013
Louisville-based Gaiam Inc. (Nasdaq: GAIA), a producer and marketer of lifestyle media and fitness accessories, posted revenue of $202 million for the year, an increase of 22 percent compared with $165 million in 2011, the company reported Monday.
The amounts do not include Gaiam's subsidiary Real Goods Solar Inc. (Nasdaq: RSOL).
"The improvement in our operating results reflects double-digit internal revenue growth in our business segment and the benefit from our acquisition of Vivendi Entertainment," Gaiam's chief executive Lynn Powers said in a prepared statement
"In order to optimize our direct-to-consumer business, we recently appointed accomplished industry veteran, Andrew Davison, as president of Gaiam Brands following his award-winning tenure as chief marketing officer at Crocs Inc.," Powers said. "We look forward to the value of his expertise and the benefit from our recently relaunched e-commerce site to support growth in our catalog and Internet businesses going forward."
Gaiam's stock was trading at $3.94 per share at midday Tuesday.
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