House & Home
Wed, November 23, 2011
OREM, Utah--([ BUSINESS WIRE ])--ForeverGreen Worldwide Corporation (OTCBB: FVRG), [ www.forevergreen.org ], a leading provider of nutritional foods and other healthy products, announced Q3 2011 earnings. Sales for the quarter ending 9/30/11 were $3,681,901 as compared to $2,638,956 for the quarter ending 9/30/10. This is an increase of 39.5%. Net losses for the quarter were ($39,401) or .00 EPS as compared to a net loss of ($76,718) or (.01) EPS during the corresponding period of 2010.
For the nine months sales were $9,985,916 vs. $7,616,045 in the first nine months of 2011, an increase of 31.1%. Net losses for the first nine months of 2011 were ($587,653) or (.04) EPS compared to ($228,729) or (.01) EPS during the comparable period in 2010. During the first nine months of the year cash increased $106,314 to $284,439 compared to a net decrease in cash of $199,597 to $56,603 for the first nine months of last year.
Paul Frampton, CFO, said, aDuring the 2011 nine month period ending September 30, 2011, we experienced a sales growth trend that is continuing in the third and fourth quarters. We have experienced a significant increase in sales in 2011 as a result of introduction of a new brand line attracting several experienced entrepreneurs in our industry. We anticipate this increase in sales will continue. We are expanding the international markets, and the rewards will include increased sales and diversified market incomes. Most importantly we are proud to have achieved the milestone of monthly positive cash flow and look forward to profitable quarters as we move into 2012.a
About ForeverGreen
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 Azul and FrequenSeaa" whole-food beverages with industry exclusive Marine Phytoplankton, Versativa line of hemp-based whole-food products, A.I.M. Transfer Factor immune support, 03Worlda" weight management products, Pulse-8 powdered L-arginine formula, TRUessencea" Essential Oils and Apothecary, 24Karat Chocolate, and an entire catalog of meals, snacks, household cleaners and personal care products. [ www.forevergreen.org ]
Forward-Looking Statements
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are aforward-looking statementsa 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 companyas actual results could differ materially from expected results.