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AeroGrow International, Inc. (OTCMKTS:AERO) ‘s Last Financial Filing, Would it Continue?

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AeroGrow International, Inc. (OTCMKTS:AERO) last filed its Form 8-K, on February 11, reporting its 3Q2015 results. The FY2015 and 4Q2015 results are expected to be filed soon, by the company. AeroGrow had reported an 8.3% increase in sales, which amounted to $11.9 million, for its 3Q2015. However, the highlight of the quarter was an improvement of 37.7% in gross margins, which indicated improve efficiency within the company.

The CEO of AeroGrow, J. Michael Wolfe, stated that the company had three strategic goals for the period, which were successfully achieved. He clarified that the first was to record a growth in sales, which was mainly due to a 100% increase in online sales, while other channels demonstrated some growth as well. The second goal was to record improvements in gross margin. The CEO stated that this was achieved through improving efficiency in the supply chain, revision of product pricing and a change in retail partners.

Mr. Wolfe stated that the final goal was to increase brand awareness, which was achieved through large advertising campaigns, across a wide variety of media. The CEO believes that this would help AeroGrow in the long run. In addition to making significant progress on the marketing front, AERO also launched a new line of AeroGarden products. The new product line accounted for 46% of the total sales for the quarter.

At the announcement of the report, the CEO had announced that he plans to continue this growth, in the upcoming quarters. He also hinted at the expansion of sales channels and build up of new brands, in the upcoming quarter. Although the quarter reported a net income, AERO still had a loss for the nine-months ended December 31, 2015.

AeroGrow International, Inc. (OTCMKTS:AERO) reported a share price of $2.52, at the end of the April 25 trading session, indicating a loss of 1.18% in value, after having a trade volume of 9,340.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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