Itronics 2009 First Quarter Revenues Increase 33 Percent; Silver Sales Up 181 Percent; Green Pays Dividends for Reno Fertilizer
April 07 2009 - 5:00AM
Marketwired
Itronics Inc. (OTCBB: ITRO) (FRANKFURT: ITG) (BERLIN: ITG),
inventor and operator of award winning recycling technology that
converts spent photographic liquids into pure silver and GOLD'n GRO
fertilizers, creating a "Green Consumer Option" for photo and x-ray
processors, reported today that its total revenues for the first
quarter 2009 increased by 33 percent to $872,000 from $653,000 in
2008. Silver revenues increased by 181 percent to $329,000 from
$117,000 in 2008.
Unaudited revenues for the first quarter ended March 31, 2009
together with comparative figures for the 2008 first quarter are
presented below:
ITRONICS INC.
For the Quarter
Ended March 31
2009 2008
REVENUE
Fertilizer $ 479,274 $ 445,578
Silver $ 328,739 $ 117,065
Photo Services $ 40,606 $ 34,646
Mining Technical Services $ 23,274 $ 55,842
Total Revenues $ 871,893 $ 653,131
First quarter GOLD'n GRO liquid fertilizer revenue growth of 8
percent was capped by severe water shortages for agricultural use
in the California's central valley in the first quarter. "Even
though the overall U.S. economy is struggling, we are expecting
strong 2009 fertilizer revenue growth to be driven by sales of
GOLD'n GRO Guardian Deer Repellent, the only product that is
systemic and which both repels deer and fertilizes in combination
with GOLD'n GRO fertilizer. The repellent does no harm to the
deer," said Dr. John Whitney, Itronics President.
Silver revenues for the quarter increased 181 percent on a 324
percent increase in ounces sold. Improved silver extraction
technologies are expected to increase silver available for sale by
more than 200 percent for the full year. Silver and other
non-nutrient metals are stripped from the liquid photowaste as part
of Itronics' environmentally beneficial manufacture of
award-winning green fertilizers.
Photo Services revenue for the quarter increased by 17 percent
due to a large increase in receipts of spent photoliquids for
processing and conversion to fertilizer. Gallons of spent
photoliquids received in the first quarter were up 28 percent
compared to the 2008 first quarter. The increasing volume of spent
photoliquids is expected to be more than adequate to support
continued strong growth of GOLD'n GRO liquid fertilizer sales.
Mining Technical Services sales declined in the first quarter
due to a decrease in consulting. 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' ongoing implementation of its 5-year plan to put
internally developed environmentally green clean technology into
commercial use is producing solid profitable growth. This focused
approach to the development and 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.
Itronics' revolutionary technologies create a cost-effective "Green
Consumer Option" for photo and x-ray processors that continue to
use silver halide photo technologies to make prints and x-rays, and
an economical "Green Fertilizer Option" for farmers and
consumers.
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a "Creative
Clean Technology" Company that produces GOLD'n GRO liquid
fertilizers and pure silver bullion. 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 spent
photoliquids into pure silver and GOLD'n GRO liquid fertilizers.
The Company has established and is now commercializing a pipeline
of integrated recycling technologies and environmentally compatible
silver/gold mining technologies. It also 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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