Itronics Reports 22% Increase First Quarter 2008 Sales
April 23 2008 - 5:00AM
Marketwired
RENO, NV (FRANKFURT: ITG) (BERLIN: ITG) reported today that
total sales were $650,000, up 22 percent compared to the first
quarter of 2007.
First quarter 2007 GOLD'n GRO fertilizer division sales were
$446,000 compared to $414,000 in the comparable quarter last year,
an increase of 8 percent. World-wide demand for fertilizers
increased sharply in the first quarter creating shortages of
certain basic fertilizer materials. Because of this, delays were
experienced in obtaining raw materials and some GOLD'n GRO liquid
fertilizer deliveries were delayed to the second quarter. At the
end of the first quarter, Itronics had the largest backlog of truck
load orders since it began fertilizer manufacturing.
Silver sales were $117,000, up 70 percent in the first quarter.
In March the Company successfully tested its temporary screening
machine installation. The Company expects that this incremental
expansion in silver production capacity will increase silver output
in 2008.
Photochemical services sales were $35,000, down 24 percent over
the prior year quarter, due to a reduction in photoliquids from one
supplier. The Company has a large on-site supply of photoliquids.
During the quarter the Company finalized terms for a new liquid
photochemical services agreement with a large service company and
expects to start receiving liquids for processing in the second
quarter. The Company believes that with agreements in place, or
being negotiated, it has sufficient photographic liquid raw
materials to support the GOLD'n GRO liquid fertilizer sales
growth.
Itronics Mining Technical Services sales were $52,000 in the
first quarter, an increase of 958 percent over the prior year's
first quarter and a 93 percent increase over 2007 full year sales.
The increase is expected to continue.
As previously announced, on March 27, 2008 the Company was
informed that its wholly-owned subsidiary Itronics Metallurgical,
Inc. had received label registration for GOLD'n GRO Guardian Deer
Repellent from the U.S. Environmental Protection Agency (EPA). "The
Company is now in the process of registering the GOLD'n GRO
Guardian in 11 states so that sales development can be started in
mid to late May or early June," said Dr. John Whitney,
President.
Itronics expects to report full financial results for the first
quarter on May 15 when it files its First Quarter Form 10-QSB.
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a "Creative
Environmental Technology" company. Through its subsidiary, Itronics
Metallurgical, Inc., Itronics is the only company with a fully
permitted "Beneficial Use Photochemical, Silver, and Water
Recycling" plant in the United States that can convert used
photoliquids into pure silver and GOLD'n GRO liquid fertilizers.
The Company also provides environmentally compatible mining
technology development, project planning, and technical services to
the gold mining industry and operates the popular InsideMetals.com
web site at http://www.insidemetals.com, which provides a
value-added WORLD VIEW of Gold Producer Stocks, Mineral Producer
Stocks, Junior Gold Stocks, and Junior Mineral Stocks. Itronics has
received numerous domestic and international awards that recognize
its ability to successfully create and implement new
environmentally compatible recycling and fertilizer technologies.
The Company's environmentally friendly GOLD'n GRO liquid
fertilizers can be used for lawns and houseplants, and are
available, along with liquid fertilizer injectors, at the Company's
"e-store" catalog at http://goldngro.com. The popular Silver Nevada
Miner bars are available at the Company's "e-store" catalog at
http://www.itromet.com.
VISIT OUR WEB SITE: http://www.itronics.com
("Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains or may contain
forward-looking statements such as statements regarding the
Company's growth and profitability, growth strategy, liquidity and
access to public markets, operating expense reduction, and trends
in the industry in which the Company operates. The forward-looking
statements contained in this press release are also subject to
other risks and uncertainties, including those more fully described
in the Company's filings with the Securities and Exchange
Commission. The Company assumes no obligation to update these
forward-looking statements to reflect actual results, changes in
risks, uncertainties or assumptions underlying or affecting such
statements, or for prospective events that may have a retroactive
effect.)
Contact: Paul Knopick 888-795-6336
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