Itronics Reports 2010 First Quarter Revenues
May 21 2010 - 5:00PM
Marketwired
Itronics Inc. (PINKSHEETS: ITRO) (FRANKFURT: ITG) (BERLIN: ITG)
reported today that its total revenues for the first quarter 2010
decreased by 53 percent to $406,000 from $873,000 in 2009. Adverse
weather in central California and northern Nevada in January and
February were the key reasons for this decline in sales. However
the Company said that the second quarter of 2010 could be the best
in Itronics' history.
Unaudited revenues for the first quarter ended March 31, 2010
together with comparative unaudited figures for the 2009 first
quarter are presented below:
ITRONICS INC.
For the Quarter
Ended March 31
2010 2009
REVENUE
Fertilizer $ 356,249 $ 479,255
Silver $ 23,896 $ 328,616
Photo Services $ 23,548 $ 41,620
Mining Technical Services $ 2,530 $ 23,141
Total Revenues $ 406,223 $ 872,632
The first quarter GOLD'n GRO liquid fertilizer revenue decline
occurred in January and February. GOLD'n GRO sales rebounded in
March and were 40 percent greater than March 2009.
Silver revenues for the quarter were sharply reduced due to
severe cold weather damage to the refinery sprinkler system and to
the wet scrubbing system. Also contributing to the reduction was
that in the first quarter 2009 the Company was able to sell silver
bearing solids that had been accumulated in prior years while there
were no comparable materials to sell in the first quarter of 2010.
April 2010 silver sales exceeded April 2009 silver sales by 18
percent.
The Company said receipts of silver-bearing photographic liquids
continue to be more than adequate to meet the requirements for a
large increase in GOLD'n GRO fertilizer sales. Its Mining Technical
Services sales declined in the first quarter as the Company focuses
on the Auric Gold & Minerals, Inc. polymetallic gold project,
which it is confident will produce a much larger increase in value
than consulting services.
"Itronics' outlook for the second quarter is that it could be
the best in the Company's history," said Dr. John Whitney, Itronics
President. "On-going implementation of Itronics' five-year plan to
put internally developed, environmentally green clean technology
into commercial use is producing increasingly profitable growth
that is expected to continue indefinitely."
About Itronics Headquartered in Reno,
Nevada, Itronics is a Cleantech Specialty Fertilizer and Silver
Company that produces the Award Winning 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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