RENO, Nev., April 12, 2012 /PRNewswire/ -- Itronics Inc.
(OTC: ITRO) reported today that its total Revenues for the first
quarter 2012 increased by 12 percent to $572,500 from $511,000 in 2011. While GOLD'n GRO
fertilizer sales were down, silver sales were up 226 percent on a
three times increase in ounces sold.
Unaudited Revenues for the first quarter ended March 31, 2012 together with comparative
unaudited figures for the 2011 first quarter are presented
below:
ITRONICS
INC.
|
|
|
|
|
For
the Quarter
|
|
Ended
March 31
|
|
2012
|
2011
|
REVENUE
|
|
|
Fertilizer
|
$
294,132
|
$
419,291
|
Silver
|
$
231,272
|
$
70,962
|
Photo Services
|
$
16,424
|
$
20,698
|
Mining Technical
Services
|
$
30,672
|
$
431
|
|
|
|
Total
Revenues
|
$
572,500
|
$
511,382
|
GOLD'n GRO liquid fertilizer sales for the first quarter 2012
were 30 percent lower than the 2011 first quarter, since fertilizer
sales for the first quarter of 2011 included approximately
$172,000 in orders carried over from
the fourth quarter of 2010. Without these sales, the
comparable 2012 first quarter fertilizer sales would be up 19
percent.
Silver sales for the quarter increased by 226 percent on a three
times increase in ounces sold. The Company has improved the
efficiency of its refining operations, which, with silver trading
at $32 per troy ounce, is strongly
benefiting the company. The Company's receipts of
silver-bearing photographic liquids continue to be more than
adequate to meet the requirements for a large increase in GOLD'n
GRO fertilizer sales.
Mining Technical Services sales were up in the first quarter due
to an increase in consulting services for a long term client.
Itronics owns the strategically located 6,000 acre Fulstone
Project which is an Iron Oxide Copper Gold (IOCG) mineral
exploration property in the Yerington Copper Mining District in
northwestern Nevada. There are now four major near-by copper
projects under active development. Two of these are
"elephants" on a world scale with drill measured resources
exceeding 800 million tons and with on-going drilling still
expanding the respective resources. The Company believes that
this near-by active development is improving the attractiveness of
its Fulstone Project.
"Itronics outlook for the second quarter is bullish," said Dr.
John Whitney, Itronics President.
"On-going implementation of Itronics five-year plan to put
internally developed clean technology into commercial use is
progressing well, as is the plan to capitalize on proprietary
mineral property acquisition and ownership."
Itronics' technologies maximize sustainability. The Company's
goal is to achieve profitable large scale clean technology driven
growth in specialty fertilizers, silver, and related technologies
and products.
About Itronics
Headquartered in Reno, Nevada,
Itronics Inc. is a "Creative Clean Technology" company. 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 used photoliquids into pure
silver and GOLD'n GRO liquid fertilizers. The Company is developing
environmentally compatible mining technology, provides project
planning and technical services to the gold mining industry, and
operates the popular InsideMetals.com web site,
http://www.insidemetals.com, which provides a value-added WORLD
VIEW of Gold Producer Stocks, Mineral Producer Stocks, Junior Gold Stocks, and Junior Mineral
Stocks.
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
|
SOURCE Itronics Inc.