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ITRONICS REPORTS 76 PERCENT
INCREASE IN 2020 FIRST QUARTER TOTAL REVENUES
Sales Still
Expected To More Than
Double In
2020
RENO, NV --
April 9, 2020 --
InvestorsHub NewsWire -- Itronics Inc. (OTC:ITRO),
an emerging "Clean Tech Materials" growth Company that manufactures
GOLD'n GRO Multi-Nutrient Fertilizers and produces Silver,
today announced sales results for the first quarter which ended
March 31, 2020.
Total Revenues for the three months ended March 31,
2020
were
$669,021, up 76 percent
compared to $380,531, in the same period in 2019. The
increase was produced by a 68 percent increase in fertilizer sales
and a 298 percent increase in silver sales compared to the prior
year period.
The Company believes it is still
on a path
to more than double sales for the full year 2020, driven by a
strong fertilizer
marketing
program and solid field demonstrations showing improved crop
quality and yield. The outlook for silver sales is for a further
increase in 2020 due to ongoing pilot scale circuit board refining
operations continuing to produce
bullion for periodic shipment.
March GOLD'n GRO fertilizer sales growth was reduced against
forecast due to cool rainy weather in our markets, delaying those
sales into the second quarter. Uncertainties created by the
Covid-19 virus pandemic may be negatively affecting sales to an
unknown degree. "In spite of the enormous uncertainties which
emerged in mid-February and
continued through March, the fact that our sales increased by 76
percent is very positive," said Dr. John Whitney, Itronics'
President. "We are confident that the Company is still on a
path to more than double sales in 2020"
During the first quarter the Company announced completion of a
detailed three-year growth plan for Reno manufacturing operations,
and a 10-year growth plan for consolidated operations that include
expansion to the new "Itronics Clean Materials Technology
Campus near Yerington,
NV." Itronics is
expecting to achieve rapid growth over the next several years,
driven by GOLD'n GRO fertilizer sales and supported by development
of additional technologies from the Company's portfolio of "Zero
Waste Energy Saving
Technologies".
2020 First Quarter Sales Results
Unaudited
Revenues for the first quarter ended March 31, 2020 together with
comparative unaudited figures for the 2019 first quarter are
presented below:
|
|
|
ITRONICS INC. REVENUES
|
|
2020
|
|
2019
|
REVENUE
|
|
|
|
|
|
Fertilizer
|
|
|
$
594,128
|
|
$
354,377
|
Silver
|
|
|
$
68,445
|
|
$
17,186
|
Photo Services
|
|
$ 4,461
|
|
$
5,644
|
Mining Technical
Services
|
$
1,987
|
|
$
3,324 |
|
|
Total Revenues
|
|
$669,021
|
|
$380,531
|
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
multi-nutrient 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.
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 http://www.amazon.com/s/ref=bl_sr_lawn-garden?ie+UTF8&field-brandtextbin=GOLD%27n+GRO&node+2972638011.
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: https://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