Converted Organics Reports Record Organic Fertilizer Sales for April 2011
May 03 2011 - 9:30AM
- Company Sees Record Sales of Organic Fertilizer in
April
- 1st Quarter Sales Flat, 52% Increase in April 2011 Over
Prior Year
Converted Organics Inc. (Nasdaq:COIN) announced today that organic
fertilizer sales from its Gonzales, CA facility for the quarter
ended March 31, 2011 were $564,000, relatively flat compared to the
prior year. However, the Company reported record sales for the
month of April 2011 of $464,000, a $159,000 or 52% increase over
sales in April 2010. For the four month period ended April
30, 2011, sales of organic fertilizer were $1,028,000, a $129,000
or 14% increase over the same period in 2010.
The Company attributes its continued growth to broader coverage
of the Western U.S. agriculture market, including Idaho and the
Pacific Northwest, as well as deeper penetration of its core
California and Arizona market. "We continue to see strong growth
not only in the USDA Certified Organic Crop Production market, but
also in the conventional market, where leading agriculture
retailers are blending our fertilizers with synthetic fertilizers
to significantly improve yields for a wide variety of
conventionally-grown crops. The return on investment for
growers using our fertilizers is very attractive and that word is
getting out," says Edward J. Gildea, President and CEO of Converted
Organics Inc.
About Converted Organics
Converted Organics' (Nasdaq:COIN) mission is to promote,
develop and operate profitable innovative clean technologies that
contribute to the improvement of our environment by use of
sustainable business practices and the judicious use of natural
resources. Converted Organics Inc. is currently
composed of three primary lines of business at the intersection of
Agriculture, Water and Waste Recycling. Each business
contributes to our mission and uses sustainable business practices
that protect and value the environment. The three lines
of business are Organic Fertilizer (Converted Organics), Vertical
Farming (TerraSphere Systems - www.terraspheresystems.com), and
Industrial Wastewater Treatment (Industrial Wastewater
Resources).
The Converted Organics Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7431
This press release contains forward-looking statements that are
subject to risks and uncertainties. These forward-looking
statements include information about possible or assumed future
results of our business, financial condition, liquidity, results of
operations, plans and objectives. In some cases, you may identify
forward-looking statements by words such as "may," "should,"
"plan," "intend," "potential," "continue," "believe," "expect,"
"predict," "anticipate" and "estimate," the negative of these words
or other comparable words. These statements are only predictions.
One should not place undue reliance on these forward-looking
statements. The forward-looking statements are qualified by their
terms and/or important factors, many of which are outside the
Company's control, involve a number of risks, uncertainties and
other factors that could cause actual results and events to differ
materially from the statements made. The forward-looking statements
are based on the Company's beliefs, assumptions and expectations of
our future performance, taking into account information currently
available to the Company. These beliefs, assumptions and
expectations can change as a result of many possible events or
factors, including those events and factors, not all of which are
known to the company, described most recently in the "Risk Factors"
section in the Company's most recently filed annual report on Form
10-K. Neither the Company nor any other person assumes
responsibility for the accuracy or completeness of these
statements. The Company will update the information in this press
release only to the extent required under applicable securities
laws. If a change occurs, the company's business, financial
condition, liquidity and results of operations may vary materially
from those expressed in the aforementioned forward-looking
statements.
COIN-G
CONTACT: Investor Contacts:
George McIntyre
CEOcast, Inc.
212-732-4300
Gmcintyre@ceocast.com
Jim Blackman, 713-256-0369
PR Financial Marketing
jim@prfmonline.com
Converted Organics Inc.
info@convertedorganics.com
617.624.0111
Coinbase Global (NASDAQ:COIN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Coinbase Global (NASDAQ:COIN)
Historical Stock Chart
From Jul 2023 to Jul 2024