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Gaiam Reports Second Quarter Revenue Increases 48% To $45.4 Million

Stocks in this article: GAIA

A reconciliation of GAAP net loss to the non-GAAP net loss is set forth below as indicated (unaudited, in millions):

           
Pro Forma RSOLDeconsolidated RSOLConsolidated Pro Forma RSOLDeconsolidated RSOLConsolidated
For theThree MonthsEndedJune 30,2012 For theThree MonthsEndedJune 30,2011 For theThree MonthsEndedJune 30,2011 For theSix MonthsEndedJune 30,2012 For theSix MonthsEndedJune 30,2011 For theSix MonthsEndedJune 30,2011
Net loss attributable to Gaiam, Inc. $ (2.1 ) $ (3.9 ) $ (4.1 ) $ (3.3 ) $ (4.9 ) $ (5.1 )
Exclusion of acquisition-related costs (a) 1.2 1.1 1.2
Exclusion of loss from equity method investment   0.9     0.6         1.6     0.6      
 
Non-GAAP net loss attributable to Gaiam, Inc. $ (1.2 ) $ (3.3 ) $ (2.9 ) $ (0.6 ) $ (4.3 ) $ (3.9 )

A reconciliation of GAAP net loss per share to the non-GAAP net loss per share is set forth below as indicated (unaudited, shares in millions):

           
 
Pro Forma RSOLDeconsolidated RSOLConsolidated Pro Forma RSOLDeconsolidated RSOLConsolidated
For theThree MonthsEndedJune 30,2012 For theThree MonthsEndedJune 30,2011 For theThree MonthsEndedJune 30,2011 For theSix MonthsEndedJune 30,2012 For theSix MonthsEndedJune 30,2011 For theSix MonthsEndedJune 30,2011
Net loss per share attributable to Gaiam, Inc. common shareholders—diluted. $ (0.09 ) $ (0.17 ) $ (0.18 ) $ (0.14 ) $ (0.21 ) $ (0.22 )
Exclusion of acquisition-related costs per share (a) 0.05 0.04 0.05
Exclusion of loss from equity method investment per share   0.04     0.03       0.07   0.03      
 
Non-GAAP net income per share attributable to Gaiam, Inc. common shareholders—diluted $ (0.05 ) $ (0.14 ) $ (0.13 ) $ (0.03 ) $ (0.18 ) $ (0.17 )
 
Weighted average shares used in net loss per share calculations—diluted   22.7     23.3   23.3     22.7   23.3     23.3  

(a)

 

Net of taxes of $0.8 million for the three months ended June 30, 2011 and $0.6 million and $0.8 million for the six months ended June 30, 2012 and 2011, respectively. Income taxes were computed at an effective tax rate of approximately 35.5% for 2012 and 39.5% for 2011.

GAIAM, INC.

2011 RESULTS WITH REAL GOODS SOLAR CONSOLIDATED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(In thousands, except per share data)

       
Three Months Ended Three Months Ended

 

June 30, 2012 June 30, 2011
Net revenue $ 45,446 100.0 % $ 50,709 100.0 %
Cost of goods sold   17,435   38.4 %   28,107   55.4 %
 
Gross profit 28,011 61.6 % 22,602 44.6 %
Selling and operating 26,896 59.2 % 24,966 49.2 %
Corporate, general and administration 3,081 6.7 % 2,800 5.5 %
Acquisition-related costs     %   2,010   4.0 %
 
Loss from operations (1,966 ) -4.3 % (7,174 ) -14.1 %
Interest and other income (expense) (123 ) -0.3 % 61 0.1 %
Loss from equity method investment   (944 ) -2.1 %     0.0 %
 
Loss before income taxes (3,033 ) -6.7 % (7,113 ) -14.0 %
Income tax benefit   (924 ) -2.1 %   (2,135 ) -4.2 %
 
Net loss (2,109 ) -4.6 % (4,978 ) -9.8 %
Net loss attributable to the noncontrolling interest   56   0.1 %   837   1.6 %
 
Net loss attributable to Gaiam, Inc. $ (2,053 ) -4.5 % $ (4,141 ) -8.2 %
 
Weighted-average shares outstanding:
Basic 22,702 23,314
Diluted 22,702 23,314
Net loss per share attributable to Gaiam, Inc. common shareholders:
Basic $ (0.09 ) $ (0.18 )
Diluted $ (0.09 ) $ (0.18 )

GAIAM, INC.

2011 RESULTS WITH REAL GOODS SOLAR CONSOLIDATED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(In thousands, except per share data)

       
Six Months Ended Six Months Ended
June 30, 2012 June 30, 2011
Net revenue $ 92,779 100.0 % $ 105,521 100.0 %
Cost of goods sold   37,662   40.6 %   57,059   54.1 %
 
Gross profit 55,117 59.4 % 48,462 45.9 %
Selling and operating 51,057 55.0 % 49,349 46.8 %
Corporate, general and administration 5,654 6.1 % 5,832 5.5 %
Acquisition-related costs   1,667   1.8 %   2,010   1.9 %
 
Loss from operations (3,261 ) -3.5 % (8,729 ) -8.3 %
Interest and other income (expense) (67 ) -0.1 % 107 0.1 %
Loss from equity method investment   (1,640 ) -1.8 %     0.0 %
 
Loss before income taxes (4,968 ) -5.4 % (8,622 ) -8.2 %
Income tax benefit   (1,561 ) -1.7 %   (2,703 ) -2.6 %
 
Net loss (3,407 ) -3.7 % (5,919 ) -5.6 %
Net loss attributable to the noncontrolling interest   135   0.2 %   778   0.7 %
 
Net loss attributable to Gaiam, Inc. $ (3,272 ) -3.5 % $ (5,141 ) -4.9 %
 
Weighted-average shares outstanding:
Basic 22,700 23,307
Diluted 22,700 23,307
Net loss per share attributable to Gaiam, Inc. common shareholders:
Basic $ (0.14 ) $ (0.22 )
Diluted $ (0.14 ) $ (0.22 )




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