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Bergio International Announces Year End Results
http://ih.advfn.com/p.php?pid=nmona&article=51902607
The Company reported an increase in revenue of 12% for total net sales of $ 1,621,000 for the year ended December 31, 2011, as compared to $1,445,000 for year ended December 31, 2010. Further, the Company reported that stockholders' equity increased by 11% from $1,096,000 for the fiscal year ended December 31, 2010, to $1,223,000 for the fiscal year ended December 31, 2011. The company also reports an Asset to Liability ratio of 2 to 1.
The Company's net loss for the year ended December 31, 2011 was $408,328, as compared to a net loss of $838,999 for the year ended December 31, 2010, a 51% decrease.
Berge Abajian, CEO of Bergio, stated, "I am pleased with the year end results. I believe our numbers would have been even better had we not had to make some reserves on a doubtful account that I believe is collectible." He continued, "The Company is definitely on the right track. Our expansion overseas is steadily increasing while our stockholders' equity continues to increase on a yearly basis. We are seeing the 1st quarter aligning with our expectations and our plans and visions for our company are becoming a reality."
About Bergio International, Inc.
Bergio International, Inc. 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.
Forward-Looking Statements:
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.
