Boulder-based AeroGrow’s annual sales up 37% to $32.3M

BOULDER — AeroGrow International Inc. on Thursday reported that sales for its fiscal year that ended March 31 were up 37 percent, and its loss was up slightly compared with the previous year.

Boulder-based AeroGrow (OTCQB: AERO) manufactures and distributes in-home garden systems.

The company recorded total revenue of $32.3 million and an operating loss of $448,000 for the year.

The increased loss was attributed primarily to increased investments in marketing, and research and development, the company said in its earnings report.

AeroGrow’s president and chief executive, J. Michael Wolfe, said the company had several “successful” product launches and increased its channels of distribution.

“Our focus this past year was to continue the growth in our highly successful online channels while building on our successful distribution with prominent national retailers,” Wolfe said in a prepared statement. “The results were exceptional as we achieved 35 percent growth on our Amazon platforms and an impressive + 70 percent growth in our portfolio of retail companies —  including continued success at Bed, Bath & Beyond and Sur La Table, and successful launches at Kohl’s and Macy’s.”

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