Bergio International Announces First Quarter Results
May 16 2014 - 9:00AM
Marketwired
Bergio International Announces First Quarter Results
FAIRFIELD, NJ--(Marketwired - May 16, 2014) - Bergio
International, Inc. (OTCQB: BRGO) ("Bergio" or the "Company")
announced today its results for the first quarter.
For the first quarter, which ended on March 31st, 2014, the
Company reported revenues of $263,552 as compared to $316,717 for
the same period in the prior year.
Our asset to liability ratio is being maintained at 4:1, which
is the highest in the company's history. The company's current
liabilities have decreased by $57,761, which is the lowest it has
ever been. Our working capital has increased by $33,548 to
$1,758,107 as of March 31st, 2014. We have been maintaining steady
and improved stockholder equity by $39,141.
Berge Abajian, CEO of Bergio, stated, "Our revenue numbers are
slightly below what we expected, due to an economic slowdown in the
jewelry industry during the first quarter in the United States.
Historically, the first quarter tends to be the slowest of the
year. Our balance sheet is also the strongest it has ever been,
giving us a lot of leverage with financial institutions."
He continued, "As I have mentioned in previous press releases,
we are looking at new directions for Bergio so that we may control
our own destiny. I eagerly await our new venture, opening the very
first Bergio Boutique. Scheduled to open in September, the store
will be located in New Jersey. This is a stepping-stone toward
Bergio's future expansion. I am also excited about the upcoming JCK
show with many meetings lined up with major department stores. This
year we will be launching 24 brand new designs for Bergio Bridal,
as well as featuring additions to our successful Sistina, Safari
and Faccia a Faccia collections."
He concluded, "I am honored to accept an invitation to the CIBJO
Congress, which features members of national jewelry and gemstone
associations from more than 40 countries as well as representatives
of many of the industry's most important commercial bodies. The
conference will be held in Moscow May 19-21. This will give Bergio
a great opportunity to network with the largest and most powerful
associations and manufacturing individuals in the world."
We encourage everyone to read our full results of operations
contained in our Form 10-Q filed on May 15th, 2014 at sec.gov.
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.
Contact: Bergio International, Inc. Investor Relations
973-227-3230 Ext13 www.bergio.com
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