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Aerogrow International, Inc. (AERO) SEC Filing 10-K Annual report for the fiscal year ending Monday, March 31, 2014

Aerogrow International, Inc.

HISTORY TOOLS
CIK: 1434265 Ticker: AERO
Exhibit 99.1
 
AeroGrow Reports Results for the Fourth Quarter and Full Year Ended March 31, 2014

Fourth Quarter Revenue Up 44%; Full Year Revenue Increases 28%; Full Year Retail Channel Sales Up 307%

 
BOULDER, CO--(Marketwired – June 30, 2014) -  AeroGrow International, Inc. (OTCQB: AERO) ("AeroGrow" or the "Company"), which sells the Miracle-Gro AeroGarden® line of high-output, soil-free indoor gardens, seed pod kits and hydroponic nutrients, announced results for the fourth quarter and fiscal year ended March 31, 2014.
 
“In fiscal 2014, we began to achieve significant increases in sales, largely through second-half growth in our direct-to-consumer channel and encouraging results with several retail partnerships,” said President and CEO, J. Michael Wolfe.  “Net Sales for the second half of the year were $7.5 million, a 58.4% increase over the prior year period and adjusted EBITDA profitability for the period was $0.6 million, an impressive improvement compared to a loss of $0.2 million in the prior year period.
 
“In the first half of the year, our net sales were actually down 30% year over year due to inventory shortages as we co-branded the product line as the “Miracle-Gro AeroGarden.” Everything changed in the second half of the year as the co-branded products became available beginning in October, and we ended the year with 28% overall growth in sales.
 
“Several factors accounted for the significant improvement in performance including the well-received new LED AeroGardens, the co-branding of the Miracle-Gro AeroGarden line, cost reductions throughout our supply chain, a return to growth in our direct-to-consumer channel, and substantial growth in our retail sales volumes.
 
“Looking forward, I’m even more excited about fiscal 2015.  I’m pleased to report that our efforts to further build the retail channel have been very well received.  We anticipate increasing our presence or engaging in tests with many of the world’s largest retailers this fall, including Amazon, BJ’s, Costco, Meijer, Sam’s Club, True Value, Walmart and others.  This retail expansion, combined with new product introductions and our position as market leaders in the rapidly growing indoor gardening industry, has set the stage for an exciting fiscal 2015 and beyond.”
 
 
 
The following information was filed by Aerogrow International, Inc. (AERO) on Monday, June 30, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Aerogrow International, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2014 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Balance Sheets
Balance Sheets (parentheticals)
Statement Of Changes In Stockholders' Equity (deficit)
Statements Of Cash Flows
Statements Of Operations
Accounting Policies, By Policy (policies)
Document And Entity Information
Note 1 - Description Of The Business And Summary Of Significant Accounting Policies
Note 1 - Description Of The Business And Summary Of Significant Accounting Policies (details)
Note 1 - Description Of The Business And Summary Of Significant Accounting Policies (details) - Schedule Of Advertising Expenses
Note 1 - Description Of The Business And Summary Of Significant Accounting Policies (details) - Schedule Of Earnings Per Share, Basic And Diluted
Note 1 - Description Of The Business And Summary Of Significant Accounting Policies (details) - Schedule Of Employee Service Share-based Compensation, Allocation Of Recognized Period Costs
Note 1 - Description Of The Business And Summary Of Significant Accounting Policies (details) - Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis
Note 1 - Description Of The Business And Summary Of Significant Accounting Policies (details) - Schedule Of Intangible Assets And Goodwill
Note 1 - Description Of The Business And Summary Of Significant Accounting Policies (details) - Schedule Of Inventory
Note 1 - Description Of The Business And Summary Of Significant Accounting Policies (details) - Schedule Of Property, Plant And Equipment
Note 1 - Description Of The Business And Summary Of Significant Accounting Policies (tables)
Note 2 - Notes Payable And Long Term Debt
Note 2 - Notes Payable And Long Term Debt (details)
Note 2 - Notes Payable And Long Term Debt (details) - Schedule Of Debt
Note 2 - Notes Payable And Long Term Debt (tables)
Note 3 - Scotts Miracle-gro Transactions - Convertible Preferred Stock, Warrants And Other Transactions
Note 3 - Scotts Miracle-gro Transactions - Convertible Preferred Stock, Warrants And Other Transactions (details)
Note 4 - Equity Compensation Plans
Note 4 - Equity Compensation Plans (details)
Note 4 - Equity Compensation Plans (details) - Schedule Of Share-based Compensation, Stock Options, Activity
Note 4 - Equity Compensation Plans (details) - Share-based Compensation Arrangement By Share-based Payment Award, Options, Vested And Expected To Vest, Outstanding And Exercisable
Note 4 - Equity Compensation Plans (tables)
Note 5 - Income Taxes
Note 5 - Income Taxes (details)
Note 5 - Income Taxes (details) - Schedule Of Components Of Income Tax Expense (benefit)
Note 5 - Income Taxes (details) - Schedule Of Deferred Tax Assets And Liabilities
Note 5 - Income Taxes (details) - Schedule Of Effective Income Tax Rate Reconciliation
Note 5 - Income Taxes (tables)
Note 6 - Related Party Transactions
Note 7 - Commitments And Contingencies
Note 7 - Commitments And Contingencies (details)
Note 7 - Commitments And Contingencies (details) - Schedule Of Future Minimum Rental Payments For Operating Leases
Note 7 - Commitments And Contingencies (tables)
Note 8 - Stockholders' Equity
Note 8 - Stockholders' Equity (details)
Note 8 - Stockholders' Equity (details) - Schedule Of Preferred Stock Warrant Activity
Note 8 - Stockholders' Equity (details) - Schedule Of Stockholders' Equity Note, Warrants Or Rights
Note 8 - Stockholders' Equity (details) - Schedule Of Warrants Outstanding
Note 8 - Stockholders' Equity (tables)
Note 9 - Subsequent Events

Material Contracts, Statements, Certifications & more

Aerogrow International, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
Ticker: AERO
CIK: 1316644
Form Type: 10-K Annual Report
Accession Number: 0001185185-14-001675
Submitted to the SEC: Mon Jun 30 2014 4:09:15 PM EST
Accepted by the SEC: Mon Jun 30 2014
Period: Monday, March 31, 2014
Industry: Retail Building Materials Hardware Garden Supply

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