Itronics Reports 2013 First Quarter Fertilizer Revenues up 60 Percent
April 23 2013 - 12:27PM
Marketwired
Itronics Inc. (PINKSHEETS: ITRO) reported today that its total
Revenues for the first quarter 2013 increased by 9 percent to
$637,951 from $585,920 in 2012 with GOLD'n GRO fertilizer sales up
60 percent and silver sales down 61 percent due partially to lower
worldwide silver prices.
Unaudited Revenues for the first quarter ended March 31, 2013
together with comparative unaudited figures for the 2012 first
quarter are presented below:
ITRONICS INC.
For the Quarter
Ended March 31
2013 2012
REVENUE
Fertilizer $ 469,234 $ 294,132
Silver $ 90,302 $ 231,272
Photo Service $ 14,695 $ 16,424
Mining Technical Services $ 61,796 $ 44,092
Total Revenues $ 637,951 $ 585,920
GOLD'n GRO liquid fertilizer sales for the first quarter of 2013
were 60 percent higher than in the same period in 2012. Sales are
expected to continue to increase in the second quarter. Customer
demand for the GOLD'n GRO fertilizers is continuing to expand due
to its improved effectiveness and environmental advantages when
compared to other fertilizers.
Silver sales for the quarter decreased by 61 percent on a
reduction in ounces sold and lower realized silver prices. One
unsettled silver shipment was outstanding at the end of the quarter
and is expected to be settled in the second quarter.
The Company's receipts of silver-bearing photographic liquids
continue to be adequate to meet the requirements for GOLD'n GRO
fertilizer sales increases.
Itronics' Mining Technical Services sales were up in the first
quarter due to an increase in consulting services for a long term
client.
Itronics owns the strategically located 6,000 acre Fulstone
Project, which is an Iron Oxide Copper Gold (IOCG) mineral
exploration property in the Yerington Copper Mining District in
northwestern Nevada where there are now four major near-by copper
projects under active development. Two of these are "elephants" on
a world scale with drill measured resources exceeding 800 million
tons and with on-going drilling still expanding the respective
resources. The Company believes that this near-by active
development is significantly improving the attractiveness of the
Fulstone Project.
"On-going implementation of Itronics' five-year plan to put
internally developed clean technology into commercial use by
expanding GOLD'n GRO fertilizer sales is progressing well, as is
the plan to capitalize on proprietary mineral property acquisition
and ownership. We are very positive about our future," said Dr.
John Whitney, Itronics President. Itronics' technologies maximize
sustainability and the Company's goal is to achieve profitable
large scale clean technology driven growth in specialty
fertilizers, silver, and related technologies and products.
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.
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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