AeroGrow International Inc. posted a $4.4 million loss for the third quarter, compared to a loss of $1.7 million the prior year.
The horticultural direct marketer reported revenue of $11million for the quarter ended Dec.31, a 25% decrease from $14.6 million the last year.
The Boulder, CO firm posted direct marketing sales of $4.9 million for the quarter, a 5% decline from E5.1 million in the prior year.
The firm reported gross margin of 31.4% for the quarter, a decrease from 38.9% in the prior year.
“In our direct business, revenue increased almost 50% in Web marketing and 70% in catalog, as sales to new and existing customers remained strong,” said Jerry Perkins, CEO, in a statement. “These gains were offset by a significant decrease in our direct TV revenue in the quarter as we dialed back media spending in light of the rapidly deteriorating economic conditions.”
