SOURCE: Bergio International

Bergio International

May 14, 2015 08:00 ET

Bergio International Reports Strong Q1 2015 Financial Results

Company Reports YoY Growth in Income, Revenue and Gross Profit and a Reduction of Expenses

FAIRFIELD, NJ--(Marketwired - May 14, 2015) - Bergio International, Inc. (OTCQB: BRGO),"Bergio" today announced the filing of its Q1 2015 financial results, reporting an increase in revenue, income and gross profit accompanied by a decrease in expenses compared to Q1 2014.

During the first quarter of 2015, Bergio reported $3,247 in income from operations compared to a loss of $256,346 during the same period last year. Management attributes the significant income growth primarily to a surge in the Company's gross profits and a reduction in expenses during Q1 2015 versus Q1 2014. Bergio also reported a slight increase in revenue during Q1 of this year over 2014, reporting sales of $264,136 versus $263,552 respectively.

Bergio experienced a 51% YoY increase in gross profit during the first quarter of 2015 compared to the first quarter of 2014, reporting $155,489 in gross profit versus $102,753 respectively, as a result of the change in product mix. Concurrently, Bergio International's gross margin percentage reached 59% as compared to only 39% in the same quarter last year.

These figures can be seen in the "Results of Operations" section on page 14 of the Company's most recent 10-Q filing. The Company experienced a 58% decrease in "Selling, General and Administrative Expenses" in Q1 2015 compared to Q1 2014, reporting expenses of $152,242 versus $359,099 respectively.

"Management is very pleased to report positive financial results for the first quarter of 2015 to Bergio International's shareholders. In 2014, the Company endured many challenges, mainly as a result of the shutdown of our Russian operations. Bergio has proven its resilience by making bold strategic decisions that led to a slight increase in sales revenue last quarter compared to 2014, despite losing an established revenue stream from Russian operations. While retail sales attributed to our retail store have not grown as expected, we believe that sales will grow as the store gains reputation in the community. We were able to accomplish this sales growth mainly by increasing the amount of revenue coming from special orders, which have a very high profit margin," commented Chief Executive Officer of Bergio International, Berge Abajian.

Abajian added, "We have also implemented an aggressive growth strategy that has the Company well positioned to increase the retail and wholesale distribution of Bergio's fine jewelry collections across the United States. In addition, we are pleased to report a significant decrease of almost 60% YoY in its S,G&A expenses during the first quarter, primarily due to lower advertising and travel costs that were associated with our Russian operations as well as lower marketing costs and lower professional fees."

"Management continues to work diligently to finalize our acquisitions in progress that will further increase Bergio's distribution, revenue and gross margins, leading to an increase in shareholder value," concluded Abajian.

About Bergio International, Inc.

Bergio International, Inc. is a leading jeweler that has become a reputable purveyor of rare and exquisite diamonds and precious stones from around the world. Bergio currently sells its jewelry to approximately 50 retailers across the United States and owns a manufacturing facility in New Jersey. The Company is increasing its footprint as a diversified global jewelry designer and manufacturer through acquisitions and consolidation in highly fragmented jewelry industry estimated to generate $160 billion per year.
For more information, visit www.bergio.com.

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.

Contact Information

  • Contact:

    Bergio International, Inc.
    Investor Relations
    973-227-3230 Ext 30
    Email contact