ITRONICS
REPORTS A 48 PERCENT INCREASE IN 2019 SALES
Forecasting
a $1 million Increase in 2020 First Quarter GOLD'n GRO
Sales
RENO, NV
-- January 7, 2020 -- InvestorsHub NewsWire -- Itronics Inc.
(OTC:ITRO)
a Cleantech Multi-Nutrient Fertilizer
and Silver Producer reported today that its total sales for 2019
were $1,944,000 up from $1,313,000 in 2018 for an increase of
$631,000 or 48 percent.
Full year
GOLD'n GRO fertilizer sales were $1,839,000 in 2019 up from
$1,245,000 in the prior year
period for an increase of $594,000, or 48 percent. Full year
silver bullion sales were $43,700 up from $19,547 in the same
period last year for an increase of $24,153, or an increase of 124
percent.
Fourth
quarter GOLD'n GRO fertilizer sales
increased by 10 percent. The Company had a backlog of
unshipped orders at year end that were not included in
the sales increase.
Silver bullion sales were flat in the fourth quarter, but are
expected to increase 100 percent in the first quarter due to
settlement of a November 2019 silver bullion shipment and a
December 2019 silver-bearing glass shipment. Final settlement
results will be dependant upon silver and gold prices which are
currently increasing strongly.
Itronics
recently completed a
detailed 2020 GOLD'n GRO sales plan which indicates that 2020 first
quarter sales could approach $1.4 million for an increase of more
than $1.0 million from the 2019 first quarter. Full year
sales are projected to double to $4.0 million of
which
$2.8 million is forecasted for the first 6 months. The
Company believes that the second half sales forecast will need to
be revised substantially higher if sales development in the
California coastal vegetable and berry markets progresses as
expected.
"It is
unusual for us to publish forecasted sales, but this year the
forecasted sales increases are so large right at the beginning of
the year that we felt compelled to inform our shareholders and
other stakeholders as soon as possible. Our
GOLD'n GRO sales team has
been very successful in meeting internal forecasts for the past
several months giving us a high confidence level in the sales
forecasts going forward," said Dr. John Whitney, Itronics
President.
"The
expansion from 2019 sales growth of 48 percent to
a very large uptick of 40 percent in January compared to 2019
January and a further projected nearly 4 times increase in February
from January alone is lifting the Company to an entirely new sales
level. We are starting an exciting and happy new year,"
said Dr. Whitney.
1/7/2020
ITRONICS REPORTS A 48 PERCENT INCREASE IN 2019 SALES
The
forecasted sales increase is being driven by several very
successful field trials conducted by the GOLD'n GRO sales team in
2019. The field trials are
demonstrating that the GOLD'n GRO fertilizers are able to resolve
crop micro-nutrient and secondary nutrient deficiencies by
improving nutrient transfer from the soil to the plants. The
2020 sales growth is expected to be obtained through
expanded sales of
additional GOLD'n GRO fertilizers and increased sales participation
by several of our distributor's retail branches. The farm
customers are continuing to see meaningful improvement in crop
health, quality, and yield, which is being
attributed to improved
nutrient levels and balance within the plants. This is the
ultimate driver for sales growth.
"The
GOLD'n GRO fertilizer sales growth achieved in 2019 is continuing
on an expanding sales base in 2020", said Dr. John Whitney,
Itronics' President. "Our GOLD'n GRO sales team is establishing
sales in the California coastal vegetable and berry markets
as
a result of successful field trials on vegetables and strawberries
that were conducted in the second half of 2019 to obtain
nutrition and crop response data. Our plan is to
continue field trials in 2020 to obtain additional base line data
on nutrition uptake and crop
response. Increasing sales in the coastal California
vegetable and berry markets will greatly reduce the seasonality of
the fertilizer line of business in 2020 and future
years".
Whitney
& Whitney, Inc., the Company's technical
services subsidiary, has
completed a research contract to evaluate the potential for silver
tailings reprocessing for a silver mining company. The research
project successfully used the Company's newly developed Rock Kleen
Technology, which is an upgraded replacement for KAM Thio, to
accomplish the reprocessing. This first phase of testing
successfully demonstrated use of Rock Kleen Technology for the
reprocessing concept and a final report was submitted to the client
prior to year end. The Company is expecting
to meet
with the client early in 2020 to review the results and project
status.
Whitney
& Whitney, Inc. has
also been soliciting and negotiating confidentiality agreements
with potential mining companies that might become joint venture
partners for developing the polymetallic silver/gold/zinc/copper
Auric Fulstone Advanced Stage Exploration Project. Two
mining companies are currently conducting due diligence on the
property. The Company has high expectations that one or more
mining companies will express an interest in co-developing the
Auric Fulstone project in 2020, especially if silver,
gold, zinc, and copper
prices continue to rise.
The
Company's Reno-Stead manufacturing facility is fully operational
and acquisition of the Wabuska facility has been completed.
The Company's operating infrastructure is being expanded to support
increased sales growth in
2020 and future years.
About
Itronics
Headquartered
in Reno, Nevada, Itronics Inc. is an emerging Cleantech Growth
Company that uses proprietary multi-nutrient fertilizer
manufacturing technologies to produce GOLD'n GRO
multinutrient fertilizers and
breakthrough Zero Waste Technologies to recover fertilizer
ingredients, silver bullion, and silver-bearing glass from waste
streams that contain silver, gold, copper, zinc, tin, and other
metals. The Company's goal is to achieve
profitable green
technology driven organic growth in specialty GOLD'n GRO
fertilizers, silver, zinc, and minerals. The Company's
technologies maximize the recovery and uses of metals and minerals
and by doing this maximize sustainability.
1/7/2020
ITRONICS REPORTS A 48 PERCENT
INCREASE IN 2019 SALES
The
Company's environmentally friendly award winning GOLD'n GRO liquid
fertilizers, which are extensively used in agriculture, can be used
for lawns and houseplants, and are available at the Company's
"e-store" on Amazon.Com
at
https://www.amazon.com/s?rh=n%3A2972638011%2Cp_4%3AGOLD%27n+GRO&ref=bl_sr_lawn-garden.
Due to
expanded retail customer interest, GOLD'n GRO fertilizer may now be
purchased in Reno, Nevada at "Buy Nevada First Gift Shop", 4001 S.
Virginia St.
Follow
Itronics on
Facebook: https://www.facebook.com/itronicsinc
Follow
Itronics on Twitter: https://twitter.com/itronicsinc
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VISIT
OUR WEB SITE: http://www.itronics.com
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("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