Bergio International Reports Second Quarter Results With Increase In Revenue & Improved Balance Sheet

Rhea-AI Summary

Bergio International, Inc. (OTC PINK:BRGO) reported a strong financial performance for Q2 2022. Worldwide gross sales reached $2,459,197, marking a 15% increase year-over-year, while total sales for the first half of the year rose by 34% to $4,554,748. The company achieved a net profit increase of over 100% compared to Q2 2021, with liabilities decreasing by over $2.6 million and stockholder equity rising by more than $1.7 million to $5,514,662. CEO Berge Abajian expressed confidence in continued growth and improved stockholder value.

Positive

• Q2 worldwide gross sales increased by 15% year-over-year.
• First half gross sales rose by 34% compared to the previous year.
• Net profit increased by over 100% compared to Q2 2021.
• Total liabilities decreased by over $2.6 million.
• Stockholder equity increased by over $1.7 million.

Negative

• None.

FAIRFIELD, NJ / ACCESSWIRE / August 1, 2022 / Bergio International, Inc. ("Bergio," or the "Company") (OTC PINK:BRGO), an American holding corporation and global leader in eCommerce and fashion tech, has announced its financial results for the second quarter of 2022. During the second quarter, worldwide gross sales were $2,459,197, an approximate 15% increase compared to $2,137,320 the prior year. And, for 6 months ending June 30, 2022, worldwide gross sales were $4,554,748 compared to $3,286,634, an approximate 34% increase from the prior year.

The company posted a net percentage profit attributable for Bergio International for the second quarter of over 100% from the same period last year. And, currently, the firm is continuing its positive upward trajectory of profitability quarter over quarter.

In the second quarter, total liability decreased by over $2,600,000. And, stockholder equity increased by over $1,700,000 to $5,514,662.

Berge Abajian, CEO of Bergio International Inc., states, "I'm pleased with the results of the second quarter taking into consideration the economic condition in the world. Our stockholder equity has drastically improved as has our profitability. And, our liabilities have decreased significantly, by almost 40%."

He continues, "Looking at these financials for the second quarter, it clearly shows the turnaround of the company after all these acquisition costs. I'm thrilled with the performance of our eCommerce marketplaces like Amazon which continues to exceed sales projections. And, I'm confident that our year-end results will be very favorable and our best yet."

"The decrease in liabilities and increase in stockholder equity should positively reflect in our stock price. The market cap of the company does not reflect the present stockholder equity value."

Second Quarter 2022 Highlights

• Worldwide gross sales were $2,459,197, an approximate 15% increase compared to $2,137,320 the prior year.
• And, for 6 months ending June 30, 2022, worldwide gross sales were $4,554,748 compared to $3,286,634, an approximate 34% increase from the prior year.
• A net percentage profit attributable to Bergio International for the second quarter of over 100%.
• In the second quarter, total liability decreased by over $2,600,000. And, stockholder equity increased by over $1,700,000 to $5,514,662.

About Bergio International, Inc.

The Bergio brand, the primary portfolio asset, is associated with high-quality, handcrafted, and individually designed pieces with a European sensibility, Italian craftsmanship, and a bold flair for the unexpected. Established in 1995, Bergio's signature innovative design, coupled with extraordinary diamonds and precious stones, earned the company recognition as a highly sought-after purveyor of rare and exquisite treasures from around the globe. With family jewelry roots reaching back to the 1930s, founder, CEO, and designer Berge Abajian is a third-generation jeweler, blending superior knowledge in design and manufacturing to create unparalleled collections in craftsmanship and style. The Bergio brand features fine jewelry, silver fashion jewelry, bridal, couture, and leather accessories, ranging in price from $50 to $250,000. For further information, please visit www.bergio.com.

This press release includes forward-looking statements regarding our business strategy and plans as well as expectations of future growth, all of which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical in nature and include those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company's outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors, including changes in the general economy; changes in demand for the Company's products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company's previous filings with the U.S. Securities and Exchange Commission, including those detailed under the caption "Risk Factors" in our Annual Report for the year ended December 31, 2019 filed with the SEC. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 (the "Act") protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Media Contact

Alina Keo
alina@aphrodites.com
(952) 681-0406

Investor Relations

John Guercio
jpguercio@aol.com
(845) 216-3100

SOURCE: Bergio International, Inc.

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https://www.accesswire.com/710274/Bergio-International-Reports-Second-Quarter-Results-With-Increase-InRevenue-Improved-Balance-Sheet

FAQ

What were Bergio International's gross sales for Q2 2022?

Bergio International's gross sales for Q2 2022 were $2,459,197, a 15% increase from the previous year.

How much did Bergio International's stockholder equity increase in Q2 2022?

Bergio International's stockholder equity increased by over $1.7 million to $5,514,662 during Q2 2022.

What is the outlook for Bergio International's year-end results?

The CEO of Bergio International expressed confidence that the year-end results would be very favorable and the best yet.

What are the total liabilities reported by Bergio International for Q2 2022?

Bergio International reported a decrease in total liabilities by over $2.6 million for Q2 2022.