ForeverGreen Worldwide Corp. (FVRG—OTC.BB), a provider of nutritional foods and other healthy products, reported Thursday record Q2 revenues of $14.1 million, an increase of 253 percent from $4.0 million for Q2 2013.
For the quarter ended June 30, 2014, the company achieved its fifth consecutive quarter of operating profitability and second consecutive quarter of growth in operating and net income.
Gross profit rose to $11.2 million compared to $2.9 million during Q2 2013, a 294 percent increase. Gross profit margins increased to 79.5 percent versus 71.1 percent during the comparable quarter during 2013. Operating income was $412,360 compared to $92,653, a 345 percent increase. Net income totaled $454,856 or 2 cents EPS versus a net loss of $5,383.
“Gross margins, operating margins and net profit margins all continue to improve,” said CFO Jack Eldridge. “We believe during the next 12-18 months our operating margins will improve to 12-15% and our net margins will increase to 7-9% as we continue to benefit from overall efficiencies and lower COGS. We remain on track to meet or exceed our previously announced revenue guidance of $41-50 million, anticipating net margins of 4-7%. We will continue to develop ForeverGreen into one of the largest and most diversified global companies in our industry.”