| Press
Release Archives: 02/05/2008
Itronics
Reports 25 Percent Increase in 2007 Sales; Says 2008 Sales Prospects
Are Excellent
RENO, NV--(MARKET
WIRE)--Feb 5, 2008 -- Itronics Inc. (OTC BB:ITRO.OB - News) (Frankfurt:ITG.F
- News) (Berlin:ITG.BE - News) reported today that its sales in
2007 totaled $2.3 million, a 25 percent increase compared to 2006.
Full year audited financial results are due to be filed in the Company's
Form 10K-SB on March 31, 2008.
Revenues for
the fourth quarter and full year ended December 31, 2007 together
with comparative figures for 2006 are attached below:
Fourth
quarter and full year ended December 31, 2007 together with comparative
figures for 2006
"Much of
each year's sales for the last three years has been repeat business,
which is very positive," said Dr. John Whitney, Itronics President.
"Overall GOLD'n GRO sales growth for the full year reflects
expanding grower demand for our fertilizers."
The Company
expects to achieve further GOLD'n GRO liquid fertilizer sales growth
in 2008 as a result of expansion of bulk blends for application
through drip irrigation systems. Increasing water shortages are
causing California farmers to convert their fields to drip irrigation
which uses less water to produce a crop. The GOLD'n GRO fertilizers
are being used by an increasing number of growers, because the fertilizers
work well in drip irrigation by reducing chemical precipitation
in the lines that causes plugging of the drippers, while at the
same time producing measurable fertilization response in the crops.
Silver sales
for the quarter and for the year decreased due to refinery shut
down for part of the first quarter while waiting for the operating
permit for the new air scrubbing system, and due to external power
supply problems in the second, third, and fourth quarters. Two pieces
of equipment needed to expand silver output were received early
in January and, after installation, are expected to make it possible
to expand troy ounces of silver produced in 2008. Increased silver
ounce output combined with sharply increased silver prices is expected
to produce a major increase in silver sales in 2008.
"The Company
expects to sell at least one Photochemical Concentrator in 2008,
and to acquire additional supplies of used photochemicals for processing
into GOLD'n GRO liquid fertilizer base liquids. This will expand
photochemical volumes in 2008 sufficient to provide raw materials
needed to support fertilizer sales growth, while at the same time
producing further meaningful growth in revenues," Dr. Whitney
said.
Mining Technical
Services sales increased in the fourth quarter while this division
continues to advance its web based InsideMetals.com Gold Producer
Stocks information portal: http://www.insidemetals.com. Visitor
traffic on the InsideMetals.com web page is increasing and the site
is now generating subscription income. This increased activity is
primarily due to the high prices of gold and silver which are driving
more and more investors to examine gold and silver mining stocks
as investments. Whitney & Whitney, Inc. is also receiving inquiries
about consultant services and has begun selectively accepting mining
technical services consulting assignments which will contribute
to revenue growth in 2008.
The Company
filed a registration application for GOLD'n GRO Guardian deer repellent
in the fourth quarter. The Company has been told that the registration
is on a path to be issued towards the end of the second quarter
of this year. If the registration is received, the Company expects
that sales could begin late in the third quarter. This will be a
new revenue source for the Company and internal market studies suggest
that sales of this product could grow quite rapidly. The gross profit
margin for this product line is about twice that of the GOLD'n GRO
liquid fertilizers. Because of this, GOLD'n GRO Guardian deer repellent
fertilizer sales are expected to rapidly produce a significant increase
in the Company's profitability.
About Itronics
Itronics, through
its subsidiary, Itronics Metallurgical, Inc., is the only company
in the world with a fully permitted "Beneficial Use Photochemical,
Silver, and Water Recycling" plant located in the United States
which can convert used photoliquids into pure silver and liquid
fertilizers. At the Company's Reno, Nevada factory more than 99
percent of the silver and virtually all the other toxic heavy metals
are extracted from used photoliquids. The purified liquids are converted
into environmentally beneficial, chelated, micronutrient and multinutrient
liquid fertilizers sold under the GOLD'n GRO trademark. The silver
is refined and sold as bullion and 5 troy ounce, 0.999 pure, Silver
Nevada Miner numismatic bars. The environmentally friendly liquid
fertilizers can be used for lawns and houseplants, and are available,
along with GOLD'n GRO 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.
Headquartered
in Reno, Nevada, Itronics Inc. is a "Creative Environmental
Technology" company and a world leader in photochemical recycling.
The Company also provides environmentally compatible mining technology
development, 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 compatible recycling and
fertilizer technologies.
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.
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