Itronics 2009 First Half Revenues Increase 19 Percent to $2.3 Million; Silver Sales up 144 Percent, GOLD'n GRO Fertilizer Sales
July 23 2009 - 5:00AM
Marketwired
Itronics Inc. (PINKSHEETS: ITRO) (FRANKFURT: ITG) (BERLIN: ITG)
reported today that total Revenues for the first half of 2009
increased by 19 percent to $2.3 million from $1.9 million in 2008.
Revenue growth in the first half continued to be driven by
increases in silver, up 144 percent, and GOLD'n GRO fertilizers, up
8 percent.
Unaudited Revenues for the second quarter, and first half ended
June 30, 2009, together with comparative figures for 2008 are
presented below:
ITRONICS INC.
For the Quarter For the 6 Months
Ended June 30 Ended June 30
2009 2008 2009 2008
REVENUE
Fertilizer $1,212,492 $1,114,865 $1,691,252 $1,560,443
Silver $ 155,188 $ 80,953 $ 483,803 $ 198,018
Photo Services $ 28,939 $ 36,672 $ 71,053 $ 71,318
Mining Technical Services $ 4,768 $ 31,373 $ 27,909 $ 87,215
Total Revenues $1,401,387 $1,263,863 $2,274,017 $1,916,994
"Half year GOLD'n GRO liquid fertilizer revenue growth of 8
percent is strong in a market where fertilizer sales have generally
declined this year," said Dr. John Whitney, Itronics President.
"GOLD'n GRO Guardian Deer Repellent, a unqiue product now being
introduced, which both repels the animals from eating valuable
landscaping and also fertilizes, is expected to add to the revenue
increase in the second half of 2009."
Silver revenues for the quarter increased 92 percent and for the
year increased by 144 percent on a 243 percent increase in ounces
sold. A combination of sale of on site inventories and improved
recovery technology is producing this growth.
Photo Services revenues were flat for the first half and down by
21 percent in the second quarter. Receipts of spent photoliquids
were cut back in the second quarter as photo liquid volumes have
been exceeding the quantities needed for GOLD'n GRO liquid
fertilizer manufacturing.
Mining Technical Services sales declined, but are expected to
increase in the second half as a result of new project work. This
division is working with outside investors to form a new gold and
minerals exploration company which will contract with the division
for management and technical services. The division is expected to
receive a significant equity ownership in the new company. Details
will be announced in a subsequent press release. This division
continues to advance its web based InsideMetals.com Gold Producer
Stocks information portal: www.insidemetals.com. The recent
strengthening of gold, silver, and base metal prices is generating
increased interest in mining companies and minerals projects.
Itronics, through its subsidiary Itronics Metallurgical, is the
inventor and operator of award winning recycling technology that
converts spent photographic liquids into pure silver and GOLD'n GRO
fertilizers. Commercialization of this technology has created a
"Green Consumer Option" for photo and x-ray processors and "Green
fertilizers" for horticulture and agriculture. The fertilizers
incorporate the "essence" of green because of how they are sourced
and because of their excellent performance in the field.
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 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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