BOULDER, Colo., April 6 /PRNewswire-FirstCall/ -- Gaiam, Inc. , a lifestyle media company announced today that the Company repurchased 932,000 shares of its common stock. The purchase was a negotiated transaction in which the Company, its director James Argyropoulos and Mill Road Capital acquired in aggregate 1,863,310 shares from the Company's second largest shareholder.
This purchase brings the total number of shares repurchased by the Company, since its share repurchase initiative begun approximately two years ago, to 4.8 million shares which is 20.9% of the 23.0 million shares currently outstanding. The Company still has 2.7 million shares remaining in its authorized share repurchase program.
"Our goal for 2009 is to grow revenue and focus on free cash flow," said Jirka Rysavy, Gaiam Chairman. "We ended 2008 with $32.0 million in cash, no debt and a current ratio of 3.9. Our cash position, even after this stock repurchase, has increased since December 31, 2008."
For more information about Gaiam, please visit http://www.gaiam.com/, or call 1-800-869-3603.
This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as "expect," "intend," "believe," "will," "should" or comparable terminology or by discussions of strategy. While Gaiam believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Gaiam's filings with the Securities and Exchange Commission. Gaiam assumes no duty to update any forward-looking statements.
Contacts: Carole Buyers VP Corporate Finance and Investor Relations 303-222-3808 carole.buyers@gaiam.com John Mills Senior Managing Director, ICR 310-954-1105 jmills@icrinc.com
Gaiam, Inc.
CONTACT: Carole Buyers, VP Corporate Finance and Investor Relations, of
Gaiam, Inc., +1-303-222-3808, carole.buyers@gaiam.com; or John Mills, Senior
Managing Director of ICR, +1-310-954-1105, jmills@icrinc.com, for Gaiam, Inc.
Web Site: http://www.gaiam.com/
