Itronics Reports 2013 First Half Revenues; Total Revenues Up: Fertilizer Sales Up 8 Percent
July 31 2013 - 9:10AM
Marketwired
Itronics Inc. (PINKSHEETS: ITRO) reported today that its total
Revenues for the 2013 first half increased by 3 percent to $1.707
million from $1.658 million in 2012. First half GOLD'n GRO
Fertilizer Revenue increased 8 percent and Silver Revenue decreased
40 percent. Second quarter silver revenue increased 33 percent
compared to the prior year quarter.
GOLD'n GRO fertilizer sales in the first half were up 8 percent
compared to 2012. Itronics is working with its distributor to
continue to expand GOLD'n GRO sales by increasing the use of
individual fertilizers within the established customer base, and by
expanding geographically within our distributor's exclusive
territory.
Second quarter troy ounces of silver sold were up 62 percent but
the realized price was down 18 percent resulting in a 33 percent
revenue increase compared to the prior year second quarter. Troy
ounces of silver sold in the first half were down 28 percent
compared to the prior year first half, and the realized silver
price was down 16 percent resulting in a 40 percent revenue
decrease compared to the prior year first half. The Company
believes that silver prices may stabilize and perhaps establish an
uptrend in coming months, although they could continue to be
volatile.
The volume of silver-bearing photographic liquids received by
the Company from its established suppliers in the second quarter
increased by 13 percent compared to the prior year second quarter
and continue to be more than adequate to meet the requirements for
anticipated GOLD'n GRO fertilizer sales increases.
The silver refined by Itronics is recovered from spent photo
liquids, a highly acclaimed environmentally "Green" and beneficial
process. The de-silvered photo liquids are converted to ingredients
for use in manufacturing the Award Winning line of GOLD'n GRO
liquid fertilizers. This technology maximizes sustainability by
converting all of the silver-bearing photographic liquid waste into
commercial goods for sale. There is no waste of any raw materials,
including water, when this process is used. Itronics' manufacturing
plant which operates this technology is a fully permitted "zero
discharge" facility.
Whitney & Whitney, Inc. technical services Revenue was up
155 percent in the second quarter and up 90 percent in the first
half as a result of providing services for a long term client.
Whitney & Whitney is receiving inquiries from potential new
clients regarding provision of planning and development services
for specific mine development projects. These inquiries may lead to
new services contracts which would produce additional services
revenues for the Company.
During the first half, work on the Auric Gold & Minerals
Fulstone Iron Oxide Copper Gold project continued to focus on
gaining a better understanding of the project area structural
geology with the objective of defining specific targets for initial
exploratory drilling. A separate report on this work will be made
during the third quarter. The Yerington Mining District has major
nearby copper gold silver deposits that are actively being
developed by others, making the Fulstone Project area strategically
attractive. Whitney & Whitney, Inc., Itronics wholly-owned
technical & administrative services subsidiary, currently owns
more than 60 percent of Auric.
Unaudited Revenues for the second quarter, and first half ended
June 30, 2013 together with comparative figures for 2012 are
presented below:
ITRONICS INC.
For the Quarter For the 6 Months
Ended June 30 Ended June 30
2013 2012 2013 2012
REVENUE
Fertilizer $ 882,075 $ 955,774 $ 1,351,309 $ 1,249,906
Silver $ 88,797 $ 66,977 $ 179,099 $ 298,249
Photo Services $ 14,485 $ 15,769 $ 29,179 $ 32,192
Mining Technical Services $ 84,611 $ 33,244 $ 146,948 $ 77,336
Total Revenues $ 1,069,968 $ 1,071,764 $ 1,706,535 $ 1,657,683
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, and is developing the Fulstone Iron Oxide Copper Gold
exploration property in Nevada.
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. Its 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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