Aerogrow International, Inc Launches New Garden Bundle According to BAC Report20 Nov 2013 • by Natalie Aster
LONDON – Beginning of November AeroGrow International announced official launch of a new product series, Miracle-Gro AeroGarden ULTRA Indoor Garden Bundle, created together with its new business partner The Scotts Miracle-Gro Company. This year in April Scotts made a capital investment in AeroGrow. The latter got access to required investments and a broad retail distribution network. The first result of this investment is Miracle-Gro AeroGarden ULTRA, an innovative indoor garden system. Fast plant growth and big yields are the calling card for this new product line. Featuring advanced hydroponics, the system allows easy and fast growth of salad greens, fresh herbs, flowers and tomatoes.
AeroGrow International is still struggling to deliver positive results, but in 2012 its financial position worsened. Revenue and gross profit declined by 11% and 19.5% respectively, scoring USD 7.3 M and USD 3.3 M. Operating and net loss deepened, ending up equal USD (1.1) M and USD (8.3) M, respectively. The results the first two quarters of FY 2013/14 are optimistic, though. Quarter ended September 2013 brought revenue of USD 0.7 M, gross profit of USD 0.3 M, operating income of (0.5) M, net income of USD (0.6) M. Direct-to-consumer sales comprised 76% of total revenues, Retail and International sector generated 23% and 1%. AeroGardens brought 21% of total revenue, while Seed kits and accessories got the remaining 79%.
Founded in 2002 and headquartered in Boulder, CO (USA) AeroGrow International engages in design, development and distribution of indoor gardening solutions and kits. The company has its own research team which is striving to bring more offerings to the company’s portfolio. In 2006 AeroGrow went public, and that was also the year when the first retail package was shipped. Today the company is still struggling to find its place on the market.
More details on the company’s present activities, SWOT and experts’ forecasts can be found in the report “Aerogrow International, Inc. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: Aerogrow International, Inc. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Nov, 2013
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