ForeverGreen Worldwide Corporation Raises Guidance for 2014
Company anticipates sales of $56-$60 million, nearly 25% higher than previously anticipated
“During 2013, the company achieved $17.7 million in revenue, a 41% increase from the prior year. For the third time during 2014, the company is raising its sales guidance. Based on results during the first half of the year and the continued success into July and August, the company is prepared to increase this previously announced guidance. During Q2, the company suggested sales for the year would increase to $41-$50 million, approximately tripling 2013 sales. Due to recent success, the company is now expecting sales of $56-$60 million. We also expect net margins during H2 2014 to increase and full year margins of 4-7%. With the introduction of additional new products during late 2014, we hope to continue to exceed expectations for both revenue and profitability,” said Jack Eldridge, CFO of ForeverGreen Worldwide Corporation.
“We have key infrastructure, personnel and product lines to become a leader in the industry. With no border restrictions for multiple products, our growth rate should continue at a high rate for the foreseeable future. Increasing shareholder value remains our top priority, and we will keep our investors aware of all key developments moving forward,” stated Eldridge.
ForeverGreen Worldwide Corporation develops, manufactures and distributes an expansive line of all natural whole foods and products to North America, Australia, Europe, Asia and South America, including their new global offering, PowerStrips. They also offer Azul and FrequenSea™ whole-food beverages with industry exclusive Marine Phytoplankton, the Versativa line of hemp-based whole-food products, immune support and weight management products, Pulse-8 powdered L-arginine formula, TRUessence™ Essential Oils and Apothecary, 24Karat Chocolate® and an entire catalog of meals, snacks, household cleaners and personal care products.
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include among others, certain risks associated with the operation of the company described above. The company's actual results could differ materially from expected results.