AXcess News: Specialty "Green" Fertilizer Maker Sees Positive Growth Prospects This Year
January 15 2010 - 4:31PM
Marketwired
Reno-based Itronics Inc. (PINKSHEETS: ITRO) reported an 11 percent
increase in full-year revenue Thursday, though its fourth quarter
results indicate an even stronger prospect in 2010, mostly due to
the popularity of its environmentally friendly line of specialty
liquid fertilizers which are used as supplements in conjunction
with other fertilizers.
According to the International Fertilizer Association (IFA)
Fertilizer Outlook 2009-2013, the beginning of 2009 was dim for the
fertilizer industry with disappointing sales prospects and weak
demand recovery during the year.
Yet, the IFA's Outlook also indicated that "market conditions
could improve steadily in 2010."
While the Report indicates a 3.5% global increase in fertilizer
sales in 2010 -- Itronics recorded a 16% increase in 2009 and in
the fourth quarter sales of its GOLD'n GRO brand of environmentally
friendly liquid fertilizers shot up 133%.
In Thursday's press release, Itronics' founding President Dr.
John Whitney stated that "The strong growth experienced in the
fourth quarter is expected to continue in 2010."
Whitney attributed those results to the Company's line of
chelated liquid micro-nutrient fertilizers. "These advanced
technology micronutrient fertilizers are used as supplements in
grower fertilization programs, and are now driving GOLD'n GRO sales
growth," Whitney said.
Fertilizer supplements are seen as money-saving resources that
can improve soil conditions and in some cases reduce the amount of
other fertilizers farmers use, such as Phosphorous or
Potassium.
Field tests conducted over several years have helped boost
Itronics' GOLD'n GRO sales. Even Dr. Whitney credited the value of
Itronics' family of environmentally friendly line of fertilizers to
customers who are seeing results as to why sales have improved,
though he would not comment on actual trials, citing on-going
development and research.
"Itronics has become an important western U.S. manufacturer,"
Whitney stated.
Note to Editors: "News Features" are stories provided to
publishers copyright-free for print or online display at no charge.
All we ask is that publishers include our byline (AXcess News) as
the source, or if online, link to our Web site:
http://www.axcessnews.com. If you are interested in displaying our
news on a regular basis, please contact our editorial department
at: 865-766-5741 or by email at: editor@axcessnews.com.
Add to Digg Bookmark with del.icio.us Add to Newsvine
AXcess News 865-766-5741 http://www.axcessnews.com Email
Contact
Itronics (CE) (USOTC:ITRO)
Historical Stock Chart
From May 2024 to Jun 2024
Itronics (CE) (USOTC:ITRO)
Historical Stock Chart
From Jun 2023 to Jun 2024