AeroGrow’s revenue, income increases

BOULDER AeroGrow International Inc. (OTCQB: AERO), a maker of indoor-gardening supplies, reported $5 million in revenue for its third fiscal quarter ending Dec. 31, a 67-percent increase compared with the same period a year ago.

The Boulder-based company’s bottom line also improved, going from a $297,000 net loss for the same period last year to net income of $302,000, or 1 cent per share, this year.

AeroGrow sells the Miracle-Gro AeroGarden line of soil-free indoor gardens, seed pod kits and accessories.

SPONSORED CONTENT

Select your Republic Services residential cart now!

In preparation for Republic Services becoming the primary provider of residential recycling, yard trimmings, and trash, residents should now select the best cart size and service schedule for their household needs.

The increase in revenue was due largely to a 289 percent year-over-year increase in retail channel revenue to $2.4 million. Direct-to-consumer revenue also increased 8 percent to $2.5 million.

AeroGrow president Mike Wolfe said successful launches at Costco.com and The Home Depot and growth at Amazon helped drive the retail sales.

In April, The Scotts Miracle-Gro Co. made a $4.5 million equity investment and intellectual property acquisition that resulted in a 30 percent ownership interest in AeroGrow. The agreement also allowed AeroGrow to use the Miracle-Gro brand name.

“This holiday season marked the first real selling opportunity since we formed our partnership with The Scotts Miracle-Gro Company, and I’m proud to report our strong growth across all key sales channels,” Wolfe said.