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Press Release
Archives: 01/14/2010
Itronics'
2009 Revenues Increase 11 Percent to $3.3 Million, Top Year Ever
for Environmentally Green Company
Revenue Growth Driven by 53 Percent Increase
in 2009 Silver Sales and 133 Percent Increase in Fourth Quarter
GOLD'n GRO Fertilizer Sales
RENO,
NV, Jan 14, 2010 (MARKETWIRE via COMTEX) -- Itronics Inc. (PINKSHEETS:
ITRO) (FRANKFURT: ITG) (BERLIN: ITG) reported today that total revenues
for 2009 increased 11 percent to $3.3 million from $3.0 million
in 2008, making this the best sales year in Itronics' history. Fourth
quarter revenues increased by 16 percent to $697,000 from $601,000
in 2008, marking the best fourth quarter ever for the Company. Full
year 2009 revenue growth was driven by a 53 percent increase in
silver sales and a 133 percent increase in fourth quarter GOLD'n
GRO fertilizer sales.
Unaudited
revenues for the fourth quarter, and full year ended December 31,
2009 together with comparative figures for 2008 are presented below:
"Full year GOLD'n GRO liquid fertilizer
revenue growth of 16 percent was boosted by fourth quarter sales
growth of 133 percent," said Dr. John Whitney, Itronics President.
"Our subsidiary, Itronics Metallurgical, has become an important
western U.S. manufacturer of chelated liquid micro-nutrient fertilizers.
These advanced technology micronutrient fertilizers are used as
supplements in grower fertilization programs, and are now driving
GOLD'n GRO sales growth. The strong growth experienced in the fourth
quarter is expected to continue in 2010."
Silver revenues for the year increased 53 percent on a 48 percent
increase in ounces sold. Silver sales growth is expected to continue
in 2010 after the Stage I silver refinery expansion is completed
in the second quarter.
Ongoing Photo Services revenue for year was
down compared to 2008. Most of the decline was due to the fact that
a Photochemical Silver Concentrator was sold in the fourth quarter
2008, while there was no comparable sale in 2009. The supply of
spent photoliquids needed for GOLD'n GRO fertilizer sales continues
to be more than adequate to support on-going sales growth. While
the photographic industry continues to change, the available supply
of spent photoliquids is still large, and is expected to continue
to be large relative to Itronics needs for manufacturing GOLD'n
GRO fertilizers.
During 2009, Itronics changed the focus of
its Mining Technical Services division from consulting to using
its library resources and the proprietary InsideMetals data base
to identify and facilitate the acquisition of potentially viable
gold and mineral properties. This division continues to advance
its web-based Gold Producer Stocks information portal: www.insidemetals.com.
Itronics believes that the Whitney & Whitney expertise applied
to mineral property acquisition and development will generate gold
and mineral asset growth for the Company and provide opportunities
to apply its creative environmental technologies in mine projects.
In the second half of 2009 Whitney & Whitney
participated in the formation of Auric Gold & Minerals, an affiliated
company, and helped Auric identify a suitable polymetallic gold
property and begin acquiring the mineral rights through a claim
staking project which is on-going. The longer term plan is to take
Auric public to provide an exit strategy for its initial investors
and to monetize the asset value to benefit Itronics and its shareholders.
About Itronics
Headquartered in Reno, Nevada, Itronics Inc.
is a "Creative Clean Technology" Company that produces
GOLD'n GRO liquid fertilizers and pure silver bullion. 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 spent 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.
Itronics has received numerous domestic and
international awards that recognize its ability to successfully
create and implement new environmentally clean recycling and fertilizer
technologies.
The Company's environmentally friendly GOLD'n
GRO liquid fertilizers, which are extensively used in agriculture,
can be used for lawns and houseplants, and are available, along
with liquid fertilizer injectors, at the Company's "e-store"
catalog at http://goldngro.com. The popular Silver Nevada Miner
bars are available at the Company's "e-store" catalog
at http://www.itromet.com.
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.
Agriculture:Farming
Chemicals:Specialty Chemicals
Agriculture:Equipment and Supplies
Manufacturing and Production:Mining and Metals
Environment:Hazardous Materials Management |
