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Diamond Ranch Foods, Ltd. Reports Record First Quarter Profits

Posted on: Wednesday, 23 August 2006, 09:00 CDT

Diamond Ranch Foods, Ltd. (Pink Sheets: DFDR), a custom meat processing and distribution conglomerate, reported today that its first quarter ended June 30, 2006 generated record net operating profits on sales of $2,747,447.00.

Louis Vucci, Jr., President of Diamond Ranch Foods, Ltd., announced that the net operating profits for the first quarter ended June 30, 2006 were $108,701, as compared to a net operating loss of $178,120 for the company's first quarter ended June 30, 2005.

"These favorable results reflect the changes implemented by myself and Joseph Maggio, Chairman and CEO effective April 1, 2006. The results reflect current and continuing cost-cutting measures that we have put in place along with the additional higher gross profit margin products that we have added to our diverse product line," stated Mr. Vucci. "Our payroll expense was cut by nearly 50% and our operating expenses were reduced by 30%. We have begun to run our company more efficiently and we are focusing on improving our profitability and net earnings," added Mr. Vucci.

As previously announced, the company's strategy is to maintain profitable revenue and earnings growth through the next quarter and then begin to acquire other smaller regional distributors, growing the company through acquisitions and the broadening of its branded product lines.

About Diamond Ranch Foods, Ltd.

Diamond Ranch Foods, Ltd., a processor and distributor of meats and fresh cut portion controlled poultry, is located in the historic Gansevoort meatpacking district in lower Manhattan, NY. Operations include packing, processing, labeling and distribution of products. The company's diversified customer base includes in-home food service businesses, retailers, hotels, restaurants, and institutions, deli and catering operators and industry suppliers. Specific customers include Madison Square Garden, TGI Friday's, Sloan Kettering Hospital, and the Hilton Group. The company also provides portion controlled meats, custom meat cutting, and private labeling.

Safe Harbor Forward-Looking Statements

Statements contained in this release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are made based on information available as of the date hereof, and the company assumes no obligation to update such forward-looking statements. Editors and investors are cautioned that such forward-looking statements invoke risk and uncertainties and the company's actual results may differ from these forward-looking statements. Such risks and uncertainties include but are not limited to demand for the company's products and services, our ability to continue to develop markets, general economic conditions, our ability to secure additional financing for the company and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.

Source: Business Wire

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