WOODLAND HILLS, Calif., April 2, 2013 (GLOBE NEWSWIRE) -- GrowLife, Inc. (OTCQB:PHOT), a provider of highly effective indoor growing technologies and unique lifestyle brands, is pleased to announce the timely filing of its audited results for the fourth quarter 2012, as well as the fiscal year ending December 31, 2012. The full 10K filing is available at http:// www.GrowLifeInc.com / or on the SEC's website http://edgar.sec.gov/. Highlights include:
- Sales of $675,000 in Q4 2012
- 300% + revenue improvement compared to Q4 2011
- 42% revenue improvement compared to Q3 2012
- Acquisition of Greners.com – Online Hydro Superstore
- GrowLife was established as the name for our holding company (formerly Phototron Holdings) as we expanded from a single product line to a more broadly based company with many product lines
- Acquisition of Urban Garden – Retail Hydro Store
- GrowLife securities established as DTC eligible to facilitate electronic transfer of certificates by our shareholders
- High Times Cover: SG Sensors – Cutting Edge Remote Grow Technology
- High Times Cover: Stealth Grow LED – "Game Changer" in LED Technology
- GrowLife Productions, Inc., a wholly owned subsidiary, launched to focus on branding and entertainment industry promotions for GrowLife
- GrowLife Hydroponics, Inc., a wholly owned subsidiary, launched to focus on brick and mortar hydroponics retailing launched
- Initiated the first stage of GrowLife's push into therapeutic applications of Cannabis with Medicus Research
GrowLife's FY 2013 Guidance
For 2013, GrowLife's management provides the following forward-looking guidance, which is limited to revenue from sales, consistent with our current visibility into operations. Management projects sales in 2013 in the range between $3.9 million and $4.3 million, exclusive of any expansion of GrowLife business through potential acquisitions. These projections are explicitly based upon past results and extrapolating that data. For details regarding our business, our detailed financial statements, significant accounting policies and notes to our detailed financial statements, we refer interested parties to our 10K report filed on this date with the SEC. About GrowLife, Inc. GrowLife, Inc. ( PHOT) (formerly Phototron Holdings, Inc.) ( www.growlifeinc.com ) is a company with core holdings in innovative technology-based products and services for the indoor gardening industry and specialty markets. These brands include Stealth Grow, a producer of grow room automation equipment and hi-powered LED grow light products for indoor horticulture ( www.sgsensors.com and www.stealthgrow.com ), Greners.com, the online hydroponics superstore ( www.greners.com ) and Phototron, producer of hydroponic grow containers, which are designed to grow vegetables, herbs, flowers and fruits in any environment ( www.phototron.com ). GrowLife is also the US distributor for the Urban Cultivator brand—the greens machine ( www.urbancultivator.net ). Cautionary Language Concerning Forward-Looking Statements Information set forth in this press release contains financial estimates and other forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties, and actual results might differ materially. Examples of such forward-looking statements include management's projected 2013 revenue guidance, references to potential acquisitions, and other references to potential growth in the business. A discussion of factors that may affect future results is contained in GrowLife's filings with the Securities and Exchange Commission. In addition, all industry products are subject to additional uncertainty, including the risks of delay, cancellation and poor critical or financial reception. GrowLife disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.CONTACT: Company Contact: GrowLife Inc. Kyle Tracey, (800) 977-5255 kylet@growlifeinc.com IR Contact: Integrity Media Kurt Divich, (702) 396-1000 kurt@integrityir.com