Gaiam Cuts Q2 Loss in Half9 Aug, 2012 By: Erik Gruenwedel
Gaiam Aug. 9 reported a second-quarter (ended June 30) loss of $1.2 million, which amounted to a 63% improvement from a loss of $3.3 million during the previous-year period.
The Boulder, Colo.-based lifestyle and fitness media distributor said the recent acquisition of Vivendi Entertainment contributed $6.3 million in sales to its net revenue of $45.4 million — the latter up nearly 48% from $30.7 million in net revenue last year.
Gaiam said the increase in gross margin in the quarter primarily reflected a shift in the sales mix to a higher margin direct-response television marketing business, as well as the higher margin Gaiam Vivendi Entertainment business. The company doesn’t break out separate operating results for Gaiam Vivendi Entertainment.
It also announced that certain of its subsidiaries secured a new three-year, $35 million asset-based lending facility from PNC Bank, N.A. The new facility replaced a $15 million revolving line of credit that was due to expire in November.