Itronics 2010 Second Quarter Revenues Are Second Best Quarter in Company History
August 10 2010 - 10:20AM
Marketwired
Itronics Inc. (PINKSHEETS: ITRO) reported today that silver
revenues for the second quarter increased 24 percent, primarily due
to higher prices of the commodity, compared to the 2009 second
quarter. Recently the Company announced that it expects between a
50 percent and 100 percent increase in the third quarter compared
to the 2009 third quarter, depending upon silver prices and the
timing of silver settlements. Also, this expected increase does not
include a contribution from the Stage I refinery expansion which is
expected to be in start up mode in September.
The Company announced that 2010 second quarter revenues are the
second best quarter in the Company's history. Revenue growth for
fertilizer in the second quarter was affected by wet soil
conditions in California's central valley and coastal areas, the
Company's primary fertilizer market.
"This year the Company was able to fill fertilizer orders on a
timely basis during the spring season for the first time since
2007. This was a real operational success. GOLD'n GRO fertilizer
sales for the third quarter are expected to increase compared to
the 2009 third quarter," said Dr. John Whitney, Itronics President.
"An expanded customer base is expected to produce GOLD'n GRO
fertilizer sales increases in the second half of 2010."
Unaudited revenues for the second quarter and first half ended
June 30, 2010, together with comparative figures for 2009, are
presented below:
ITRONICS INC.
For the Quarter For the 6 Months
Ended June 30 Ended June 30
2010 2009 2010 2009
REVENUE
Fertilizer $1,121,507 $1,212,499 $1,477,756 $1,691,259
Silver $ 193,188 $ 155,188 $ 217,084 $ 483,803
Photo Services $ 27,259 $ 28,939 $ 50,807 $ 71,053
Mining Technical Services $ 633 $ 4,550 $ 3,163 $ 27,691
Total Revenues $1,342,587 $1,401,176 $1,748,810 $2,273,806
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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