SOURCE: Bergio International, Inc.

April 01, 2011 08:00 ET

Bergio International Announces Positive 2010 Year End Results

FAIRFIELD, NJ--(Marketwire - April 1, 2011) - Bergio International, Inc. (OTCBB: BRGO), Bergio International announced today that they are pleased with the positive 2010 year end results ending December 31, 2010.

The company reported 2010 year end sales increased by 48% for total net sales of $1,445,570 compared to $975,354 in sales for 2009. Gross margins improved from 29% to 44% from the comparable period. The company attributes the positive news to our expansion of our customer base outside the United States and the successful results experienced through our Neiman Marcus line and the JCK Show in Las Vegas earlier in the year.

The 10-K Financial Statement, ending December 31, 2010, indicates the company improved its current assets which increased by $542,604 and current Liabilities decreased by $860,002 while working capital increased by $1,402,606 for the year end December 31, 2010.

The company took a one time share-based expense charge for the second quarter of 2010 for $595,160 dollars which was the result of the termination of our securities purchase agreement with Tangiers. The company also took a one time share-based expense charge in the first quarter for $242,900 dollars for a total combined share-based expense charge in the first two quarters of 2010 for $838,060 dollars.

Berge Abajian, CEO of Bergio International, Inc., said, "I am pleased with the positive results for 2010 and direction of the company. This was a direct contribution of all the measures that we took in the beginning of the year. I invite all of our shareholders again to read our financial statements very closely, specifically the section titled, 'Net Loss' found in the Management Discussion and Analysis which explains the turn-around of the company."

About Bergio International, Inc.

Bergio International, Inc. is a leading jeweler creating one of the world's largest diversified jewelry designers and manufacturers through acquisitions and consolidation in the estimated $160 billion a year highly fragmented independently owned Jewelry industry. Bergio currently sells its jewelry to approximately 50 jewelry retailers across the United States. Bergio has manufacturing control over its line as a result of having a manufacturing facility in New Jersey as well as subcontracts with facilities in the United States and Italy.

Forward-Looking Statement:

The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.

Below Footnotes -- data supplied by Berge --

Sales for three month ended 9/30/10 Increased by 35% from the comparable period

Sales for nine month ended 9/30/10 Increased by 26% from the comparable period

Gross margins for 9 month increased from 28% to 52% from the comparable period

Our current assets Increased by $428,927 for 9 month

Our current Liabilities decreased by $1,115,966 for 9 month

Our working capital Increased by $1,544,893 for 9 month

Berge Abajian, CEO of Bergio International, urges all shareholders to read the Net loss section in the MD&A

Contact Information

  • Contact:
    Bergio International, Inc.
    Investor Relations
    John Cole 973-771-3571