Itronics 2008 Revenues Increase 29 Percent to $3 Million; Fourth Quarter Revenues up 46 Percent
January 06 2009 - 5:00AM
Marketwired
Itronics Inc. (OTCBB: ITRO) (FRANKFURT: ITG) (BERLIN: ITG) reported
today that its total revenues for 2008 increased by 29 percent to
$3.02 million from $2.34 million in 2007. Fourth quarter revenues
increased by 46 percent to $605,000 from $413,000 in 2007. Full
year audited financial results are due to be filed in the Company's
Form 10K-SB on or before March 31, 2009.
Unaudited revenues for the fourth quarter, and full year ended
December 31, 2008, together with comparative audited figures for
2007, are presented below:
ITRONICS INC.
For the Quarter For the 12 Months
Ended December 31 Ended December 31
2008 2007 2008 2007
REVENUE
Fertilizer $ 221,729 $ 251,919 $2,142,461 $1,663,361
Silver $ 178,737 $ 108,524 $ 447,680 $ 316,815
Photo Services $ 201,831 $ 40,722 $ 314,060 $ 334,965
Mining Technical
Services $ 2,500 $ 12,198 $ 111,500 $ 27,155
Total Revenues $ 604,797 $ 413,363 $3,015,701 $2,342,296
Full year GOLD'n GRO liquid fertilizer revenue growth was 29
percent despite severe water shortages for agricultural use in the
California's central valley in the fourth quarter. "Even though the
overall U.S. economy is struggling, we are expecting strong
fertilizer revenue growth to continue in 2009 because of both
increased regional and national interest in our products and
because of a significant order backlog. GOLD'n GRO Guardian Deer
Repellent, Itronics' newest product, which is being introduced in a
sector where there has not been a good answer for the damage deer
do to landscaping, is expected to add significantly to the 2009
revenue increase," said Dr. John Whitney, President.
Silver revenues for the quarter increased 65 percent and for the
year increased by 41 percent on a 40 percent increase in ounces
sold. Silver and other heavy metals are stripped from liquid
photowaste as part of Itronics environmentally beneficial
manufacture of award-winning, green fertilizers. Increased silver
ounce output is expected to produce a major increase in silver
sales in 2009.
Photo Services revenue for the quarter increased by 396 percent
due to the sale of a Photochemical Silver Concentrator. A large
increase in receipts of photoliquids for processing and conversion
to fertilizer is underway. Gallons of used photoliquids received in
the fourth quarter were up 19 percent compared to the 2007 fourth
quarter. The increasing volume of used photoliquids is expected to
be more than adequate to support continued strong growth of GOLD'n
GRO liquid fertilizer sales.
Mining Technical Services sales increased significantly for the
full year. This division continues to advance its web based
InsideMetals.com Gold Producer Stocks information portal:
www.insidemetals.com. The recent strengthening of gold and silver
prices is expected to generate continued growth for this division
in 2009.
"Itronics is successfully implementing its long term plan to use
internally developed environmentally green clean technology to
produce excellent products and solid growth. This focused approach
to the use of creative new clean technology has made the vertically
integrated 'Beneficial Use Photochemical, Silver, and Water
Recycling' technology and the GOLD'n GRO brand of environmentally
friendly fertilizers a success," Dr. Whitney said. "Exciting
related technologies and products are being developed for
commercialization. The planned Stage 1 silver refinery expansion
will incorporate some of these and in so doing will expand and
strengthen the Company's core processing operations and improve its
ability to grow profitably."
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 converts used
photoliquids into pure silver and GOLD'n GRO liquid fertilizers.
The Company is developing environmentally compatible mining
technology, provides 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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