SOURCE: US Farms, Inc.

April 22, 2008 07:00 ET

US Farms, Inc. Announces First Quarter 2008 Sales Increase 42% to $2.4 Million

SAN DIEGO, CA--(Marketwire - April 22, 2008) - US Farms, Inc. (OTCBB: USFI), a diversified commercial Farming and Nursery company, today announced its unaudited revenues for the first quarter ended March 31, 2008.

US Farms, Inc. reported unaudited revenue of $2,380,294 for the quarter ended March 31, 2008, an increase of 42% compared to $1,673,949 for the same period last year. This increase is primarily attributable to the addition of bulk Tomato and Garlic revenues generated through the Company's California Produce Exchange business segment along with its existing Asparagus and Aloe Vera sales. California Produce Exchange distributes a variety of bulk vegetables and fruits to brokers, distributors, food converters and Retail and Wholesale grocery stores.

Yan Skwara, President and Chief Executive Officer, US Farms, Inc., stated, "In the first quarter, we achieved key milestones that position the Company for continued revenue growth for the remainder of fiscal year 2008 and into 2009."

The Company's first quarter achievements included entering into a fulfillment agreement with Morgan Creek Tropicals, a modern wholesale supplier of indoor Tropical Plants and Nursery Stock. The agreement calls for US Farms, Inc. to immediately establish a fulfillment center at its 100,000 square foot green house facility to effectively house plant inventory and service a large retail Nursery customer of Morgan Creek Tropicals. Shipments have already been initiated and are proceeding accordingly.

About US Farms, Inc.

US Farms, Inc. is a diversified commercial Farming and Nursery company. The company grows, markets and distributes horticultural products through a number of wholly owned subsidiaries. The horticultural products are sold through supermarkets, home centers, retail merchandisers, garden centers, re-wholesalers, and landscapers throughout the United States and Canada. Through internal growth and strategic acquisitions the company is expanding its market share in its nursery and specialty produce businesses. Currently the company has subsidiaries which provide a full range of products including Aloe Vera, Cactus, Succulents, Jade, Rare and Exotic Palm Trees and Cycads along with Produce products that include Aloe Vera, Asparagus, Tomatoes and Garlic.

For more information on US Farms, Inc., please visit US Farms, Inc. is publicly traded on the over-the-counter market under the ticker symbol USFI.

Safe Harbor

Forward-looking statement: Except for historical information, this press release contains forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions and other risks detailed from time to time in the Company's ongoing quarterly filings, annual information form, and annual reports. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in this press release might not occur.

Contact Information

  • Contact:
    US Farms, Inc.
    Tel: 858-488-7775 Ext 101
    or 800-845-9133
    Fax: 858-488-2828

    Investor Relations
    Chuck Cibulka