Itronics 2009 Nine Month Revenues Increase 10 Percent to $2.6 Million; Silver Sales up 101 Percent
November 05 2009 - 9:15AM
Marketwired
Itronics Inc. (PINKSHEETS: ITRO) (FRANKFURT: ITG) (BERLIN: ITG)
reported today that its total revenues for the first nine months of
2009 increased by 10 percent to $2.6 million from $2.4 million in
2008. Revenue growth in the first nine months continued to be
driven by increases in silver, up 101 percent, and GOLD'n GRO
fertilizers, up 3 percent.
Unaudited revenues for the third quarter, and first nine months
ended September 30, 2009 together with comparative figures for 2008
are presented below:
ITRONICS INC.
For the Quarter For the 9 Months
Ended September 30 Ended September 30
2009 2008 2009 2008
REVENUE
Fertilizer $ 283,983 $ 360,288 $ 1,975,242 $ 1,920,731
Silver $ 56,228 $ 70,925 $ 540,031 $ 268,943
Photo Services $ 27,699 $ 40,911 $ 98,751 $ 112,229
Mining Technical
Services $ 6,292 $ 21,784 $ 33,983 $ 108,999
Total Revenues $ 374,202 $ 493,908 $ 2,648,007 $ 2,410,902
"Our nine month GOLD'n GRO liquid fertilizer revenue growth is
strong in a market where fertilizer sales for most fertilizer
companies have sharply declined," said Dr. John Whitney, Itronics
President. "The Company recently announced that orders on hand in
October were 33 percent greater than 2008 total fourth quarter
sales. This is a solid indication of continuing growth for GOLD'n
GRO fertilizer sales."
Silver revenues for the first 9 months increased 101 percent on
a 136 percent increase in ounces sold. Full year 2009 sales are now
expected to be up about 60 percent over 2008, with fourth quarter
2009 sales approximately equaling fourth quarter 2008 sales. A
combination of sale of on site silver inventories and improved
recovery technology is producing this growth.
Photo Services revenues were down 12 percent in the first 9
months because receipt of spent photoliquids was cut back in the
second quarter. Photoliquid volumes are still exceeding the
quantities needed for GOLD'n GRO liquid fertilizer
manufacturing.
Whitney & Whitney Mining Technical Services sales declined
in the third quarter and first nine months. This division is
working with outside investors and has formed a new gold and
mineral company called Auric Gold & Minerals, Inc. (Auric),
majority owned by Whitney & Whitney, which is currently
assisting Auric with the acquisition of a polymetallic gold project
in Nevada. Auric is contracting with Whitney & Whitney for
management and technical services.
Whitney & Whitney 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 mineral projects.
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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