It's because USB 2.0 has a max speed of 480 megabits, not megabytes. Also, you don't say what you're sending it to... other factors come into it aswell, such as the read/write speed of the storage media being used and whatnot.
A lot of people seem to have trouble getting USB2 to sustain high transfer rates... I found on my current rig any one USB2 port would cap out at about 25-30MB/s (200Mbit or so) but if I was using 2 ports at the same time, even if they were connected to the same root hub, I could get a combined transfer rate of 380-400Mbit/s sustained (when backing up my raid0 array to 2 different external HDDs)
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