News Source: Press Release
"OREM, Utah--ForeverGreen Worldwide Corporation, a leading provider of nutritional foods and other healthy products, today announced significant revenue growth when compared to the same quarter last year. Revenue for Q2 2011 was $3,481,814 compared to $2,423,082, an increase of 43.7%. Six month revenue grew to $6,304,015 versus $4,967,563, an increase of 26.9%.
Net income for the quarter was a loss $205,468 or (.01) EPS compared to a loss of $95,427 or (.01) EPS during the same time frame in 2010.
Paul Frampton, CFO, stated, “We are proud of our growth of our sales. Due to some non-recurring charges during Q2, we expect expenses as a percentage of sales to decrease, and gross and net profit margins to increase going forward. In fact, as mentioned in a prior release, we are currently cash flow positive. During the three and six month periods ended June 30, 2011, we experienced a sales growth trend that is continuing into the third quarter of 2011. This increase in sales comes primarily as the result of the introduction of our new brand line ‘VERSATIVA,' which is designed to improve our business opportunity for our independent distributors. The new brand line introduction of ‘VERSATIVA' was critical to the enrollment of several experienced entrepreneurs in our industry. We anticipate that the increase in sales will continue in the upcoming quarters. With the newly released product ‘Inspirin,' we expect to hit our yearly forecast growth revenues of over 50%.”
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