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Gaiam's, Real Goods' revenues increase

by Business Report Staff
Boulder County Business Report

LOUISVILLE - Gaiam Inc. and its subsidiary Real Goods Solar Inc. both reported higher revenue and improved income for first-quarter 2010.

Lifestyle media and product company Gaiam's (Nasdaq: GAIA) revenue increased 11.2 percent to $62.2 million in the first quarter, compared to $55.9 million during the same period a year ago. The Louisville-based company reported a quarterly net loss of $319,000, which is an improvement from a loss of $3.9 million during the same period a year ago.

The increase in revenue mostly was driven by the business segment, which experienced a 20.7 percent increase in demand from retailers, company officials said.

"Our focus on growth strategies and cost saving initiatives enabled us to deliver a significant improvement in results in a seasonally weak quarter," Gaiam President and Chief Executive Officer Lynn Powers said in a press release. "While our earnings are typically concentrated in the latter half of the year, we will continue to drive down costs and add new content and products that diversify our offerings, ultimately lessening this seasonality impact on our business model over time. We have already begun to see the benefits from adding nontheatrical content with Discovery, and we will leverage our success in fitness with the exciting launch of Reebok accessories and content beginning in June, expanding our store within store presentation at Target by an additional 12 feet."

Solar-energy integrator Real Goods Solar (Nasdaq: RSOL) reported revenue of $15 million for the first quarter - up 57.4 percent from $9.5 million during the same period a year ago. Net income for the quarter came in at $17,000, compared a net loss of $1.4 million a year ago.

"We are optimistic about both residential and commercial demand for the remainder of the year," said John Schaeffer, Real Goods Solar's president. "Our balance sheet remained strong at the end of the year with a cash balance of $11.8 million and no debt."