Gaiam posts modest increase in 1Q revenue
Last Updated: 17:39 May 8, 2014
The revenue marked a 2.5 percent increase compared with the same period in 2013, not counting revenue last year from Gaiam's discontinued operations. The company last fall sold its entertainment media distribution operations and shuttered its direct response television marketing operations.
The company's most recent loss was up about $1.8 million from the same period last year.
Gaiam chief executive Lynn Powers noted in the company's earnings report that significant revenue growth by GaiamTV, a subscription-based video streaming service, helped fuel Gaiam's overall revenue growth in the first quarter.
In March, Gaiam announced plans to pursue the separation of GaiamTV into a separate publicly traded company.
"We believe that the proposed separation of GaiamTV, expected to occur in the fourth quarter of this year, will unlock new value for our shareholders," Powers said.
Gaiam's earnings report came after the markets closed. The company's stock price dipped 6.5 percent Thursday to $6.57 per share.
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