ForeverGreen Recaps Conference Call
OREM, Utah--(BUSINESS WIRE)-- ForeverGreen Worldwide Corporation (OTCBB: FVRG), a leading provider of nutritional foods and other healthy products, today announced highlights of the May 21, 2013, Q1 conference call.
Revenue for Q1 2013 was $2,694,478, a decrease from Q1 2012, but an increase from Q4 2012. The company reported a net operating loss of $95,691 and an EPS loss of $0.01 versus an EPS loss of $0.01 during Q1 2012. The comparative decrease in revenues was due primarily to the transition of focus to new higher margin products during late 2012/early 2013.
Q1 2013 earnings report shows cost cutting measures implemented during late 2012, decreasing fixed costs.
An increase in gross profit margin from 26% to 29%, a number expected to increase to 40%+ during 2013 as sales of higher margin products continue to escalate.
The company is currently experiencing revenue growth of 25-30% monthly. Q2 2013 will show a significant increase in revenue and net earnings both sequentially, over Q1 2013, and comparatively, over Q2 2012. Monthly sales are more than double what they were at the beginning of 2013.
Company reaffirms guidance of $16-$18 million and $0.05-$0.07 EPS for 2013.
ForeverGreen has removed borders and now does business in nearly 100 countries.
The costs spent on developing the company's unique IT infrastructure allow the company to do business in nearly every language and currency. This will facilitate the company growing at historic rates and entering regions and countries where there will be almost no competition.
"The company is pleased, but not satisfied, with results for Q1 2013. The current quarter, Q2 2013, will showcase the strong progress the company is experiencing. We see very few limits to our growth moving forward as infrastructure issues such as inventory control, information technology and automation of delivery are not only in place, but are very scalable to be able to handle our tens of thousands of customers as well as the anticipated increase moving forward. The new geographic regions are causing the company to expand exponentially. We have enhanced our leadership team and will be able to accommodate and manage our newfound growth appropriately. As mentioned on the call our goal is to achieve $7-$9 million in monthly revenue by the end of 2014, a goal which we feel is very reasonable and attainable."
ForeverGreen Worldwide Corporation develops, manufactures and distributes an expansive line of all natural whole foods and products to North America, Australia, Europe, Asia and South America. Offerings include their new global offering, Power Strips. Additionally, they offer Azul and FrequenSea™ whole-food beverages with industry exclusive Marine Phytoplankton, Versativa line of hemp-based whole-food products, A.I.M. Transfer Factor immune support, 03World™ weight management products, Pulse-8 powdered L-arginine formula, TRUessence™ Essential Oils and Apothecary, 24Karat Chocolate®, and an entire catalog of meals, snacks, household cleaners and personal care products. www.forevergreen.org
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include among others, certain risks associated with the operation of the company described above. The company's actual results could differ materially from expected results.
KEYWORDS: United States North America Utah
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