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Press
Release Archives: 04/17/2007
Itronics Reports 2006 Results; Positive Gross Profit;
Fertilizer Sales Up 27 Percent; Sales Total $1.88
Million
RENO, Nev., April 17 /PRNewswire-FirstCall/ -- Itronics
Inc. (OTC Bulletin Board: ITRO; Frankfurt and Berlin
Stock Exchanges: ITG) today reported a positive gross
profit of $87,687 for the fiscal year 2006. This gross
profit was generated by the GOLD'n GRO fertilizer
segment, an historical first for the Company. Total
sales increased by 54 percent in the fourth quarter to
$465,978, and by 38 percent to $1.88 million for the
full year.
The annual
report for the year 2006 on Form 10KSB is available on
the U.S. Securities & Exchange web site at http://www.sec.gov.
Itronics achieved a 14 percent increase in GOLD'n GRO
sales in the fourth quarter and a 27 percent increase in
GOLD'n GRO fertilizer sales in 2006 compared to 2005.
The Company increased silver sales in the final quarter
of 2006 by 255 percent and total silver sales for 2006
increased by 185 percent over the prior year.
"Fertilizer and silver sales growth is expected to
continue in 2007," said Dr. John Whitney, President.
Operating loss decreased 15 percent in 2006 compared to
2005 and net loss decreased by 22 percent.
Photo Service sales increased by 209 percent in the
fourth quarter, due to acquisition of two new used
photochemical supply contracts in the fourth quarter,
and by 4 percent for the full year 2006. In 2007 the
Company plans to continue to expand used photochemical
supplies which will expand revenues further.
Mining Technical Services declined in 2006 while the
division was making a transition from deriving its
income from technical services to an internet based
revenue model through the newly launched http://www.Insidemetals.com
internet information portal. Mining Technical Services
is also seeking new technical services contracts in 2007
and both initiatives are expected to increase revenues.
Goals outlined for 2007 include expanding GOLD'n GRO
liquid fertilizer sales and silver sales; expanding used
photochemical raw material supplies by acquiring new
photoservices contracts; implementing the GOLD'n GRO
Guardian liquid animal repellant fertilizer registration
with the U.S. Environmental Protection Agency as a
biopesticide with a goal of completing the process in
the first quarter 2008; and continuing to acquire
prudent financing to support growth.
The report also reviews significant progress in
implementing the Company's eight part long term growth
plan. Itronics' primary focus is on expanding fertilizer
sales which are now the driver for overall sales growth
in the GOLD'n GRO fertilizer segment.
In the fourth quarter of 2006, the Company acquired two
substantial photoservices customers that are expected to
significantly expand used photochemical supplies to
support on-going growth in GOLD'n GRO fertilizers sales
in 2007. During the year the Company also obtained an
additional $2 million in financing.
Results for the year 2006 and the fourth quarter ended
December 31, 2006, together with comparative figures for
2005 are summarized at the following link:
http://biz.yahoo.com/prnews/070417/latu087.html?.v=87
Contact: Paul Knopick
888-795-6336
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 project planning and technical services to the
gold mining industry and operates the global Gold
Producing Stocks web site, http://www.insidemetals.com.
Itronics has received numerous domestic and
international awards that recognize its ability to
successfully create and implement new 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.)
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Source: Itronics Inc. |
