SOURCE: AeroGrow International, Inc.

January 07, 2008 08:00 ET

AeroGrow Announces Quarterly Revenue Guidance

Revenue for the Three Months Ending December 2007: $14 to $14.5 Million

BOULDER, CO--(Marketwire - January 7, 2008) - AeroGrow International, Inc. (NASDAQ: AERO) ("AeroGrow" or the "Company"), makers of the AeroGarden® line of indoor gardening products, today announced its revenue guidance for the three months ended December 31, 2007, its third fiscal quarter.

AeroGrow anticipates revenue of approximately $14 million to $14.5 million for the three months ended December 31, 2007, a 185% increase over the $4.9 million in revenue in the same quarter one year ago and a 124% increase over last quarter's revenue.

"I'm pleased to announce a record quarter for AeroGrow," said Michael Bissonnette, AeroGrow's Founder and CEO. "We have succeeded in every retail channel of distribution we've rolled into, including independent culinary stores, national department store chains, independent lawn & garden and hardware chains, and have just concluded successful tests with multiple big box retailers, including Target. This last quarter, we sold into more storefronts, in more channels, with a wider variety of products than ever before, and I believe we now have significant traction in the marketplace. In addition, since launching our in-house catalog business, we've mailed more than 1.25 million catalogs, and it's proving to be a significant and highly profitable portion of our business."

"Given the strong revenue performance across the board, we will continue to drive four major expansion opportunities in 2008," said Jerry Perkins, President and COO of AeroGrow. "First, we intend to significantly expand the number of storefronts for our current product line. Second, we'll be continuing to open new channels of distribution, with a substantial number of new storefronts, through mass distribution into big box, garden, office supply, florist, crafts and other retailers. We'll open these new channels with the introduction of new, lower-priced products targeting the flower, culinary and gardening markets. Third, we'll aggressively expand our international sales into the U.K., Germany, France and other European markets, as well as Japan, Korea and other sizeable markets. And finally, we'll continue the expansion of our direct-to-the-consumer businesses including our own direct-mail catalog business, TV spots and infomercials, and web sales. The large number of storefronts and consumer markets that we can target using the products already on our drawing boards is incredible, and we're in full pursuit of the opportunities."

About AeroGrow International, Inc.

Founded in 2002 in Boulder, Colorado, AeroGrow International, Inc. is dedicated to the research, development and marketing of the AeroGarden®, the world's first kitchen garden appliance. The AeroGarden features NASA-proven, dirt-free aeroponic technology, allowing anyone to grow farmer's market fresh herbs, salad greens, tomatoes, chili peppers, strawberries and more, indoors, year-round, so simply and easily that no green thumb is required. See www.aerogrow.com.

FORWARD-LOOKING STATEMENTS

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements by Michael Bissonnette and/or the Company, statements regarding growth of the AeroGarden product line, optimism related to the business, expanding sales and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many factors including continued market acceptance of the Company's products or the need to raise additional capital. In addition, actual results could vary materially based on changes or slower growth in the kitchen garden appliance market; the potential inability to realize expected benefits and synergies; domestic and international business and economic conditions; changes in customer demand or ordering patterns; changes in the competitive environment including pricing pressures or technological changes; technological advances; shortages of manufacturing capacity; future production variables impacting excess inventory and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

Contact Information

  • CONTACTS:
    Corporate
    John Thompson
    AeroGrow International, Inc.
    (303) 444-7755
    Email Contact

    Investor
    Budd Zuckerman
    Genesis Select Corporation
    (303) 415-0200
    Email Contact