ForeverGreen Worldwide Corp. (OTCBB:FVRG) today announced fourth quarter and its 2009 full year financial results.
“Like many companies, we have utilized the economic downturn as an opportunity to become much more efficient. By downsizing our employee base, increasing our automation and focusing on fewer products, ForeverGreen has achieved significantly more profit per dollar revenue. Our break-even level has decreased by approximately 50% during 2009.”
The company reported revenues of $12,090,051 with an earnings loss per share of $.08 for the fiscal year ended December 31, 2009. Gross Profit Margins increased to 30.5% for FY2009 compared to 24.6% for year ending 12/31/08.
For Q4 2009 the company reported revenue of $2,664,172 versus $5,206,218 for Q4 2008. Gross Profit Margins increased to 46.0% for Q4 2009 compared to 16.1% in Q4 2008. The company reported net earnings of .01, or $91,921 in Q4 2009 compared to a net loss of $874,987 or (.07) during Q4 2008.
ForeverGreen CEO Ron Williams stated, "Like many companies, we have utilized the economic downturn as an opportunity to become much more efficient. By downsizing our employee base, increasing our automation and focusing on fewer products, ForeverGreen has achieved significantly more profit per dollar revenue. Our break-even level has decreased by approximately 50% during 2009." He continued, "Now that the Company is trending month over month sales growth and experiencing momentum in its markets, the Company looks forward to creating similar growth results in each quarter of 2010 and beyond."
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