Bergio International Announces Positive 2010 Year End Results
April 01 2011 - 8:00AM
Marketwired
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: Bergio International, Inc. Investor Relations
John Cole 973-771-3571 www.bergio.com
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