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Release Archives: 04/23/2008
Itronics
Reports 22% Increase First Quarter 2008 Sales
RENO, NV--(MARKET WIRE)--Apr
23, 2008 -- Itronics Inc. (OTC BB:ITRO.OB - News) (Frankfurt:ITG.F
- News) (Berlin:ITG.BE - News) reported today that total sales were
$650,000, up 22 percent compared to the first quarter of 2007.
First quarter 2007 GOLD'n
GRO fertilizer division sales were $446,000 compared to $414,000
in the comparable quarter last year, an increase of 8 percent. World-wide
demand for fertilizers increased sharply in the first quarter creating
shortages of certain basic fertilizer materials. Because of this,
delays were experienced in obtaining raw materials and some GOLD'n
GRO liquid fertilizer deliveries were delayed to the second quarter.
At the end of the first quarter, Itronics had the largest backlog
of truck load orders since it began fertilizer manufacturing.
Silver sales were $117,000,
up 70 percent in the first quarter. In March the Company successfully
tested its temporary screening machine installation. The Company
expects that this incremental expansion in silver production capacity
will increase silver output in 2008.
Photochemical services
sales were $35,000, down 24 percent over the prior year quarter,
due to a reduction in photoliquids from one supplier. The Company
has a large on-site supply of photoliquids. During the quarter the
Company finalized terms for a new liquid photochemical services
agreement with a large service company and expects to start receiving
liquids for processing in the second quarter. The Company believes
that with agreements in place, or being negotiated, it has sufficient
photographic liquid raw materials to support the GOLD'n GRO liquid
fertilizer sales growth.
Itronics Mining Technical
Services sales were $52,000 in the first quarter, an increase of
958 percent over the prior year's first quarter and a 93 percent
increase over 2007 full year sales. The increase is expected to
continue.
As previously announced,
on March 27, 2008 the Company was informed that its wholly-owned
subsidiary Itronics Metallurgical, Inc. had received label registration
for GOLD'n GRO Guardian Deer Repellent from the U.S. Environmental
Protection Agency (EPA). "The Company is now in the process
of registering the GOLD'n GRO Guardian in 11 states so that sales
development can be started in mid to late May or early June,"
said Dr. John Whitney, President.
Itronics expects to report
full financial results for the first quarter on May 15 when it files
its First Quarter Form 10-QSB.
About Itronics
Headquartered in Reno,
Nevada, Itronics Inc. is a "Creative Environmental Technology"
company. Through its subsidiary, Itronics Metallurgical, Inc., Itronics
is the only company with a fully permitted "Beneficial Use
Photochemical, Silver, and Water Recycling" plant in the United
States that can convert used photoliquids into pure silver and GOLD'n
GRO liquid fertilizers. 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 at 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.
The Company's environmentally friendly GOLD'n GRO liquid fertilizers
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
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