International Barrier Technology Releases Fiscal Year-End Results; Double Digit Growth in Sales Revenue and Sales Volumes of ...
October 14 2011 - 9:00AM
Marketwired
International Barrier Technology Inc. ("Barrier") (OTCBB: IBTGF)
(TSX-V: IBH), a manufacturer of proprietary fire-resistant building
materials, is pleased to release Fiscal Year End 2011 financial
results. Sales revenue generated for the fiscal period increased
25% from $2,606,254 to $3,256,019. Barrier is reporting net income
of $895,811, or $0.02 per share, compared to a net loss of
($2,329,567), or ($0.07) per share fully diluted in the prior
fiscal year period.
Sales volume of shipments of Barrier products for the fiscal
year ending June 30, 2011 was 6,962,300 sq. ft. This is an increase
of 39% over the 5,002,700 sq. ft. that was shipped during fiscal
2010. Shipments into the Residential Roof Deck/Wall
Assembly/Structural Insulated Panel Market, distributed as LP®
FlameBlock® Fire-Rated OSB Sheathing, increased 55% and shipments
into the Commercial Modular Market, distributed as MuleHide FR Deck
Panel, increased 29%.
Achievements during the fiscal year ended June 30, 2011:
*January 18, 2011 -- Barrier and LP® Building Products (LP)
extended their Supply Agreement through December 31, 2013. The
agreement gives LP the exclusive right to sell Pyrotite® treated
panels in North America to all markets other than Commercial
Modular (Mule-Hide Products) under their brand name LP® FlameBlock®
Fire-Rated OSB Sheathing.
*Barrier and LP successfully certified and listed a fire-rated
air plenum product with the International Code Council
(ICC-ES).
*New product labels were approved in Canada, enabling more
effective marketing and utilization in Canada.
*Barrier and LP successfully certified and listed a 7/16"
performance grade panel which has proven more competitive to FRT
plywood in many market regions.
*June, 2011 -- LP® FlameBlock® was approved by CAL FIRE for use
in Wildland-Urban Interface (WUI) zones as exterior wall sheathing
behind LP® SmartSide® lap and panel siding, along with cedar
shingles and lap siding.
*New product approval in Honolulu, HI for LP® FlameBlock® with
LP® SmartGuard which helps resist decay, fungi, and termites.
"Barrier's partnerships with both LP and Mule-Hide have
increased our market share and growth for our proprietary
technology during a year with continued weakness in the building
industry," states Barrier's President and CEO, Dr. Michael Huddy.
"As the construction industry gradually improves, the company is
well positioned, both in market share penetration and manufacturing
efficiencies, to respond quickly and effectively."
About International Barrier Technology
Inc. International Barrier Technology Inc. (OTCBB: IBTGF)
(TSX-V: IBH) develops, manufactures, and markets proprietary
fire-resistant building materials branded as LP® FlameBlock®
Fire-Rated OSB Sheathing and Mule-Hide FR Deck Panel. Barrier's
award-winning fire-resistant wood panels use a patented, non-toxic,
non-combustible coating with an extraordinary capability: it
releases water in the heat of fire. The panels exceed "model"
building code requirements in every targeted fire test and
application, and are unique in combining properties that increase
panel strength and minimize environmental and human impact.
Barrier's family of products provides customers a premium material
choice meeting an increasingly challenging combination of
requirements in residential and commercial building construction.
For more information please visit www.intlbarrier.com.
INTERNATIONAL BARRIER TECHNOLOGY INC.
_______________________ Michael D. Huddy President, Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS
PRESS RELEASE.
Forward-Looking Information: The statements in this news release
contain forward-looking information within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve certain risks, assumptions and
uncertainties, including but not limited to the ability to generate
and secure product sales. In each case actual results may differ
materially from such forward-looking statements. The company does
not undertake to publicly update or revise its forward-looking
statements even if experience or future changes make it clear that
any projected results (expressed or modified) will not be
realized.
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Tom Corcoran Investor Relations Manager International Barrier
Technology (866) 735-3519 Email Contact For more information
please visit: www.intlbarrier.com