ForeverGreen Worldwide Corporation (FVRG), a leading direct marketing company and provider of health-centered products, announced financial results for the first quarter ended March 31, 2015.
First Quarter Financial Highlights
Total revenues increased 63.2% to $17,198,940, compared to $10,536,402 in the first quarter last year. The company has deferred revenue of $389,672 versus $171,885 in the comparable quarter of 2014.
Gross Profit for the quarter increased to $13,005,739 compared to $7,977,397 and Gross Profit Margins held stable at 75.6%.
Operating income was $411,813 compared to $267,002 during the quarter in 2014, a 54% increase.
Net income increased 85.2% to $335,378 or $0.01 EPS, versus $181,052 or $0.01 EPS, in Q1 2014. Net income margins increased slightly to 1.9% from 1.7%.
Net cash provided by operating activities was $186,356 for the quarter compared to $193,016 in net cash used during