SOURCE: Bergio International
FAIRFIELD, NJ--(Marketwire - Nov 13, 2012) - Bergio International, Inc. (OTCQB: BRGO) ("Bergio" or the "Company") announced a record third quarter profit ended September 30, 2012.
The Company reported a net income of $112,196 for its 3rd quarter ending September 30, 2012 compared to a loss of ($9,304) for the same period last year. This is an increase of 1,300%. The 9 month net income ending September 30, 2012 was ($99,890) compared to ($261,565) for same period last year. This is an improvement of 62% in net income for the 9 months ending September 30, 2012.
Bergio had a net profit from operations of $46,569 for the 3rd quarter ending September 30, 2012 compared to a loss of ($112,996) for the same period in 2011. Net profit from operations for the 9 months ending September 30, 2012 was $63,187 compared to a loss of ($279,671) for the same period in 2011.
The Company also reports an increase in revenue of 33% for the 3rd quarter ending September 30, 2012 with total net sales of $525,609 as compared to $394,562 for same period last year. The 9 month sales ending September 30, 2012 were $1,306,109 compared to $1,029,774 for the same period last year, this is a 27% increase. The gross profit for the 3rd quarter ending September 30, 2012 was $417,844 compared to $31,141 same period last year. The 9 month gross profit ending September 30, 2012 was $891,682 compared to $363,010 the same period last year.
Bergio's assets for the 9 months ending September 30, 2012 was up by $319,117 that is an increase of 13%. The working capital for the 9 months ending September 30, 2012 is up by $350,053, an increase of 27%. The asset to liability has increased to a 2:3 ratio for the 9 month period ending September 30, 2012. The stockholders equity is up by 14% to $1,597,675 for the 9 month period ending September 30, 2012.
Berge Abajian, CEO of Bergio, stated, "This is what we've been waiting for! Bergio has turned the corner but we still have additional work to do. I am pleased that in these tough economic times, we were able to improve the company's financial position. I would like to announce that we have signed the mega deal which was mentioned in a previous press release. Due to our contractual agreement, we cannot disclose any information until the product is launched. This should take place in February 2013."
Berge Abajian continues, "I would like to thank all our shareholders for supporting Bergio, good things take time. I repeat again, we are extremely undervalued and I still personally believe our stock price should be a minimum of 15-20 times what it is today. These quarterly results will eventually be reflected in the stock price. My goal is to keep improving our stockholder equity and asset to liability ratio, this is a great barometer to gauge Bergio's financial strengths."
About Bergio International, Inc.
Bergio International, Inc. is a leading jeweler creating a diversified jewelry designer and manufacturer 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 through its manufacturing facility in New Jersey, as well as subcontracts with facilities in the United States and Italy.
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.