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Langley, BC / PRNewswire / – Bevo Agro Inc. (TSXV: VOD) announced sales for the three months to September 30, 2011 were $ 1,700,825. This compares with sales of $ 1,961,694 for the same period last year. The reduction in sales is the result of customer requests to be reassigned at different times.

The first quarter is historically low income-producing for years, the greenhouses are the change of bedding plants and flowers delivered in the fourth quarter of propagating plants vegetables for delivery in the second and third quarters.

Gross margin for the quarter was $ 253,353 (14.90% of sales), compared to $ 260,329 (13.27% of sales) in the previous year.Despite lower sales, the company has managed to maintain levels of gross margin due to lower purchasing and labor costs.

The expenses for the quarter ended September 30, 2011 was $ 1,032,798 compared to $ 959,822 the same quarter last year.

Net loss and comprehensive loss for the quarter was $ 536,905 compared to a loss of $ 475 653 for the same quarter last year.

Highlights of Q1
Bevo adopted and approved the International Financial Reporting Standards (“IFRS”). These interim consolidated financial statements of companies are the first financial statements prepared in accordance with IFRS. The amount of opening statements, the Company has adjusted previously reported in the financial statements prepared in accordance with GAAP.Transition to IFRS has no impact on cash flows generated by the company.

IFRS, an entity shall make a political decision in real estate, machinery and equipment (“PPE”), the historical cost method and revaluation (fair value) method. This policy choice is made for each asset class included in the EPP. The company chose to use the revaluation (fair value) the method of their lands, and historical cost for all other items of PPE.

Previously announced five hectares is nearing completion and will be used for plant growth in the second quarter. This expansion was financed by a term loan and the company of new funds valentines flowers delivery.