AeroGrow reports improved second-quarter results

BOULDER — AeroGrow International Inc. (OTCQB:AERO) a Boulder-based manufacturer and distributor of indoor-gardening systems. increased revenue and cut losses for the second quarter of its fiscal year 2018  that ended Sept. 30, compared with the same period a year ago.

Aerogrow recorded revenue of $5.7 million, an increase of 156 percent compared with the same period a year ago. Loss from operations was $129,000, down from a loss of $627,000 in the prior year period.

Michael Wolfe, AeroGrow’s president and chief executive, attributed the improvement to a growing list of retail partners and continued gains in its e-commerce sales platforms.

Wolfe said the company had no debt as of Sept. 30, and already had purchased inventory in support of the holiday selling season.  

“We’ve successfully launched several new and innovative products,” Wolfe said. “You’ll see more Wi-Fi enabled AeroGardens this fall, including the Harvest Wi-Fi, which is planned to be featured by Amazon.com as its Cyber Monday Deal of the Day.  

Two new products that are hitting the market include the AeroGrow Farm with 24 pods, auto-adjusting LED grow lights and 24 inches of growing space; and the AeroGarden Herbie, the first AeroGarden designed exclusively for kids, that will have a “soft launch” this fall.

 


 

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