FAIRFIELD, NJ - (NewMediaWire) - November 27, 2017 - Bergio International, Inc. ("Bergio", or the "Company") (OTC PINK: BRGO), a leading diversified jewelry designer and manufacturer of fine jewelry, today reported its financial results for the third quarter of fiscal year 2017 ended September 30, 2017.
During the three month ending September 30, 2017, the Company showed total revenue of $225,980 compared to $88,986 for the same period last year, which is an approximate increase of 250%. The gross profit for 3 months increased to 30% compared to a .7% for the same period last year. The gross profit for the nine months ending September 30, 2017 increased to 42% compared to 22.1% for the same period last year.
Also, the total sales for the nine month period ending September 30, 2017 is $408,648 compared to $395,195 for the same period last year. This is an increase of approximately 3%. For the first time in many years, the company showed a net profit for 3 months of $32,322 compared to a loss of ($144,537) for the same period last year. For nine months ending September 30, 2017, there was a loss ($99,267) compared to a loss ($374,142) for the same period last year. This is an improvement of 375% for the same period last year.
The convertible notes as of today are less than what was reported in the 3rd quarter due to conversions that occurred in the fourth quarter.
Mr. Berge Abajian, President and CEO of Bergio International, Inc., stated, "I am very happy with the 3 and 9 month results. This shows all the effort that we have been putting into turning this company around has been achieved. We still have work to do but I can see light at the end of the tunnel." He adds, "As mentioned previously, our new direction will give us total control of our destiny which will improve our revenue and gross margins. We are trying to finalize on our meeting that we had a couple of months back to expand in the retail space, additionally we are in the early stages of discussion with one of the largest diamond manufacturers to become there exclusive distributor in the US," he concluded. "We are exploring all opportunities that are presented to us to forge Bergio forward."
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