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Quarterly Results of Operations (Unaudited) | 12 Months Ended
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Dec. 31, 2012
Quarterly Results of Operations (Unaudited) | 14. Quarterly Results of Operations (Unaudited) The following tables set forth our unaudited results of operations for each of the quarters in 2012 and 2011. Since RSOL was not deconsolidated until December 31, 2011, for better comparison purposes, we have presented the 2011 quarters both on a pro forma basis assuming RSOL instead had been deconsolidated on January 1, 2011 (RSOL Deconsolidated) and on a US GAAP basis with RSOL deconsolidated on December 31, 2011 (RSOL Consolidated). In our opinion, this unaudited financial information includes all adjustments, consisting solely of normal recurring accruals and adjustments, necessary for a fair presentation of the results of operations for the quarters presented. Additionally, we have made pro forma adjustments based on currently available information, estimates and assumptions that we believe are reasonable in order to reflect, on a pro forma basis, the impact of this deconsolidation on our historical financial information.
|  | RSOL Deconsolidated |
|  | Year 2012 Quarters Ended |
(in thousands, except per share data) |  | March 31 |  |  | June 30 |  |  | September 30 (a) |  |  | December 31 |
Net revenue |  | $ | 47,333 |  |  | $ | 45,446 |  |  | $ | 42,983 |  |  | $ | 66,713 |
Gross profit |  |  | 27,106 |  |  |  | 28,011 |  |  |  | 24,071 |  |  |  | 36,916 |
Loss from equity method investment |  |  | (696 | ) |  |  | (944 | ) |  |  | (15,940 | ) |  |  | (830 | )
Income (loss) before income taxes and noncontrolling interests |  |  | (1,935 | ) |  |  | (3,033 | ) |  |  | (16,303 | ) |  |  | 3,019 |
Net income (loss) |  |  | (1,298 | ) |  |  | (2,109 | ) |  |  | (10,926 | ) |  |  | 1,756 |
Net income (loss) attributable to Gaiam, Inc. |  |  | (1,219 | ) |  |  | (2,053 | ) |  |  | (11,157 | ) |  |  | 1,547 |
Diluted net income (loss) per share attributable to Gaiam, Inc. common shareholders |  | $ | (0.05 | ) |  | $ | (0.09 | ) |  | $ | (0.49 | ) |  | $ | 0.07 |
Weighted average shares outstanding-diluted |  |  | 22,698 |  |  |  | 22,702 |  |  |  | 22,704 |  |  |  | 22,706 |
|  | RSOL Deconsolidated |
|  | Year 2011 Quarters Ended |
(in thousands, except per share data) |  | March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 (b) |
Net revenue |  | $ | 37,387 |  |  | $ | 30,755 |  |  | $ | 41,747 |  |  | $ | 55,627 |
Gross profit |  |  | 20,831 |  |  |  | 17,242 |  |  |  | 24,061 |  |  |  | 26,867 |
Loss before income taxes and noncontrolling interests |  |  | (1,563 | ) |  |  | (5,821 | ) |  |  | (1,095 | ) |  |  | (21,151 | )
Net loss |  |  | (964 | ) |  |  | (3,994 | ) |  |  | (890 | ) |  |  | (20,834 | )
Net loss attributable to Gaiam, Inc. |  |  | (1,006 | ) |  |  | (3,868 | ) |  |  | (1,142 | ) |  |  | (21,120 | )
Diluted net loss per share attributable to Gaiam, Inc. common shareholders |  | $ | (0.04 | ) |  | $ | (0.17 | ) |  | $ | (0.05 | ) |  | $ | (0.93 | )
Weighted average shares outstanding-diluted |  |  | 23,301 |  |  |  | 23,314 |  |  |  | 23,205 |  |  |  | 22,691 |
|  | RSOL Consolidated |
|  | Year 2011 Quarters Ended |
(in thousands, except per share data) |  | March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 (b) |
Net revenue |  | $ | 54,812 |  |  | $ | 50,709 |  |  | $ | 73,333 |  |  | $ | 95,919 |
Gross profit |  |  | 25,860 |  |  |  | 22,602 |  |  |  | 31,914 |  |  |  | 36,485 |
Loss before income taxes and noncontrolling interests |  |  | (1,509 | ) |  |  | (7,113 | ) |  |  | (1,655 | ) |  |  | (25,650 | )
Net loss |  |  | (941 | ) |  |  | (4,978 | ) |  |  | (1,189 | ) |  |  | (18,162 | )
Net loss attributable to Gaiam, Inc. |  |  | (1,000 | ) |  |  | (4,141 | ) |  |  | (1,229 | ) |  |  | (18,502 | )
Diluted net loss per share attributable to Gaiam, Inc. common shareholders |  | $ | (0.04 | ) |  | $ | (0.18 | ) |  | $ | (0.05 | ) |  | $ | (0.82 | )
Weighted average shares outstanding-diluted |  |  | 23,301 |  |  |  | 23,314 |  |  |  | 23,205 |  |  |  | 22,691 |
(a) | During the quarter ended September 30, 2012, we recorded a noncash loss from our equity method investment in RSOL of $15.9 million and related income tax benefits of $5.7 million. See Note 3. Equity Method Investment and Receivable From Investee.
(b) | During the quarter ended December 31, 2011, we recorded a noncash, goodwill impairment charge of $22.5 million, a noncash loss on deconsolidation of subsidiary of $4.5 million, and an income tax benefit of $7.1 million related to the remeasurement to fair value of our equity method investment in Real Goods Solar. See Notes 3 and 6 to our consolidated financial statements for 2011.

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