AeroGrow reports revenue gain of 14.2%, slightly higher loss

BOULDER — AeroGrow International Inc. (OTCQB: AERO) a manufacturer of indoor gardening systems, reported $2.5 million in revenue its first fiscal quarter ended June 30, an increase of 14.2 percent from the same period a year ago. The Boulder-based company recorded a loss of $728,000, up from $653,000 in the first quarter a year ago.

“The strong consumer demand and retailer support that we have experienced over the past year has given us an outstanding start to our fiscal year,” said AeroGrow’s president and chief executive, J. Michael Wolfe, in a prepared statement.

Wolfe said increased sales were led by gains in e-commerce platform sales, while “loss from operations came in slightly higher than last year as we increased our advertising-related expenditures and worked to improve our infrastructure, while adding a bit of personnel expense in support of anticipated significant growth later this year.”

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The company also reported $9.2 million in cash on hand and no debt.

Wolfe said the company is focused on the upcoming 2017 holiday selling season, including increasing its presence on Amazon.com and other online retailers, increasing retail distribution and launching new products.

“Beginning later this fall, look for the AeroGarden to be available at not just Bed, Bath & Beyond, QVC and Sur La Table — where we had solid success last year — but also at many other proven retailers such as Macy’s, Kohl’s, Home Depot and others in the U.S.  We’ll also be in Hudson’s Bay and Canadian Tire Stores in Canada and will be expanding our presence on various Amazon platforms throughout Europe,” Wolfe said.