Itronics Year-to-Date Sales up 47 Percent
September 16 2008 - 5:00AM
Marketwired
Itronics Inc. (OTCBB: ITRO) (FRANKFURT: ITG) (BERLIN: ITG) today
reported that comparable year-to-date sales through August 2008 are
up 47 percent, an increase to $2.2 million from $1.5 million for
the same period in 2007.
GOLD'n GRO liquid fertilizer sales continued to be strong in
July and August, with year-to-date sales up 48 percent. The
Company's year-to-date silver sales are up 49 percent compared to
2007. Photo services are down about 15 percent for the period, but
photowaste volume is up about 6 percent in the third quarter,
reversing the small decline experienced in the first half of the
year. Mining technical services year-to-date revenues are more than
12 times greater than the same period in 2007 as the Company
expands its revenue base through its mining expertise.
"The trends this year in each of our revenue segments are
solidly positive," said Dr. John Whitney, Itronics President. "The
demand for fertilizers is very strong with continuing price
increases. While there has been a great deal of price volatility in
the precious metals, underlying demand appears to be strong. With
increasing turbulence in the financial and housing sectors, demand
is expected to strengthen as people seek a safe haven for their
assets. The market for photowaste recycling services remains
strong, driven by expanding interest in maximizing use of natural
resources, in clean technology, and because of a continuing
reduction in alternative disposal options for liquid photowaste
throughout the United States."
"In the second quarter of 2008, the parent company of our
distributor acquired a major competitor. Early in the third quarter
the parent company disclosed plans to integrate the acquired
company and its retail outlets into its existing retail
distribution system. Our distributor has been assigned management
and integration of the new retail outlets in its territory, opening
up opportunities for increased GOLD'n GRO liquid fertilizer sales
in California and other western U.S. markets, including Hawaii, in
the fourth quarter of 2008 and in 2009," Dr. Whitney said.
In early September the Company shipped GOLD'n GRO Guardian spray
kits to qualified landscape maintenance companies. The Company
expects to be receiving feedback shortly. There is opportunity for
fall sales for treating plants and trees to reduce deer damage in
the winter.
The Company is now focusing on implementing its three year
funding plan which includes restructuring its balance sheet. The
Company's short term financing goals are to improve liquidity to
support on-going sales growth, and to begin restructuring and
replacing high cost debt with lower cost equity and debt
financing.
"Itronics is an expanding clean technology company with enormous
growth potential," said Dr. Whitney. "We are excited to be
operating in strong and growing markets and to be making a very
significant positive improvement for our environment."
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a "Creative
Clean Technology" company. Itronics, through its subsidiary,
Itronics Metallurgical, Inc. 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, 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
clean recycling and fertilizer technologies.
The Company's environmentally friendly GOLD'n GRO liquid
fertilizers, which are extensively used in agriculture, 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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