Gaiam, Inc. revenue for the second quarter decreased 6.7% to $56.4 million from $60.5 million recorded in the comp period last year. Weakening in the consumer environment and the timing of some orders from retailers, combined with planned reductions in catalog circulation and the closure of unprofitable businesses during last 12 months, were cited as reasons for the decline.
Gross margin dipped 70 basis points to 51.3% of net revenue for the second quarter from 52.0% of net revenue in the comparable quarter last year. The change in gross margin resulted primarily from increased revenues in the lower margin solar segment. Excluding the solar segment, gross profit, as a percentage of net revenue, increased to 61.4% for the second quarter from 59.0% during the comparable quarter last year.
The company posted a net loss of $500,000, or 2 cents per share, during the quarter, compared to a net loss of $1.0 million, or 4 cents per share, during the second quarter last year. Expenses decreased 230 basis points as a percentage of net revenue to 53.3% of net revenue in Q2 from 55.6% of net revenue in Q2 last year.
