Irvine, Aug. 20, 2013 (GLOBE NEWSWIRE) -- Terra Tech Corp (TRTC), an urban agricultural company, is pleased to announce the filing of its Second Quarter 2013, financial results for the quarter ending June 30, 2013. The full 10Q filing is available on the SEC's website http://edgar.sec.gov/.
Total revenues generated from sales of the Company's products for the quarter ended June 30, 2013 totaled $665,365, an increase of $582,180 from the quarter ended June 30, 2012, which totaled $83,185. The growth in the second quarter is primarily attributable to the acquisition of Edible Garden, a premier brand of local and sustainably grown hydroponic produce.
"We are excited about our growth particularly because we didn't close the acquisition and begin to realize the revenue until we were well into the quarter," explains Derek Peterson, CEO Terra Tech Corp. "In addition we will begin to realize revenue from Palm Creek Produce in Florida by late Q3 or early Q4 2013 and we anticipate our new 5-acre facility to be finished by year end. We are looking forward to 2014 when we should be able to realize revenue from multiple projects."
Edible Garden is a premier brand of local and sustainably grown hydroponic produce, sold at major grocery stores such as Shoprite, Food Emporium and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, and Pennsylvania.
Palm Creek Produce, a hydroponic greenhouse grower of specialty plants, is cultivating living basil under the Edible Garden brand for sale throughout the Florida market. Palm Creek's 1.25-acre facility is capable of producing up to 10,000 units of living basil per week.
Furthermore, the company is making significant progress on the construction of their new 5-acre facility in Belvidere, NJ. Pictures of the build can be viewed on their Facebook page at: https://www.facebook.com/ediblefarms. The company plans on releasing a corporate update later in the week to inform shareholders on multiple aspects of the companies operations.
For more information about Terra Tech Corp visit: www.terratechcorp.com
Visit us on Facebook @ http://www.facebook.com/terratechcorp
Follow us on Twitter @terratechcorp
For more information about Edible Garden visit: http://www.eatherbs.com
Visit Edible Garden on Facebook @ https://www.facebook.com/ediblefarms
About Terra Tech
Terra Tech Corp. (TRTC) through its wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies. The company integrates best-of-breed hydroponic equipment with proprietary software and hardware to provide sustainable solutions for indoor agriculture enterprises and home practitioners. Our complete product line is available at specialty retailers throughout the United States, and via our website. Through its wholly-owned subsidiary Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as Shoprite, Food Emporium and others throughout New Jersey, New York, Delaware, Maryland, Connecticut, and Pennsylvania.
Cautionary Language Concerning Forward-Looking Statements
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Terra Tech Corp.'s filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to Terra Tech Corp.'s (i) product demand, market and customer acceptance of its equipment and other goods, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified sales representatives, (iv) competition, pricing and development difficulties, (v) ability to integrate GrowOp Technology Ltd. into its operations as a reporting issuer with the Securities and Exchange Commission, and (vi) general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on Terra Tech Corp.'s website does not constitute a part of this release.