|
Press
Release Archives: 05/15/2007
Itronics Reports Total Sales Up 52 Percent in First
Quarter 2007; Positive Gross Profit; Sales Expected to
Double in 2007
RENO, Nevada, May 15 /PRNewswire-FirstCall/ -- Itronics
Inc. (OTC Bulletin Board: ITRO; Frankfurt and Berlin
Stock Exchanges: ITG) today reported a positive gross
profit of $16,253 for the first quarter of 2007, the
first time the Company has reported a positive first
quarter gross profit since initiating its GOLD'n GRO
fertilizer segment. Total sales increased by 52 percent
in the first quarter to $536,187. The Company has said
it expects sales to double in 2007. The Form 10QSB
filing is available on the U.S. Securities & Exchange
Commission web site at sec.gov.
The Company achieved a 74 percent increase in GOLD'n GRO
sales in the first quarter of 2007 compared to the same
period in 2006. Silver sales decreased by 5 percent to
$68,847 while photochemical recycling increased by 134
percent to $45,332 in 2007 compared to 2006.
Mining Technical Services declined in the first quarter
while the division continued to make a transition from
deriving its income from technical services to an
internet based revenue model through the newly launched
Insidemetals.com internet information portal, which is
now generating revenue that is expected to continue to
increase as the year progresses.
Itronics also reported that in the first quarter it
received $344,291 in cash and stock in a publicly traded
company in exchange for its member interest in its
workers compensation carrier. This amount has been
reported as a gain in the first quarter 2007 and reduced
net loss accordingly. During the quarter the Company
obtained an additional $1 million in financing.
The 10Q filing reviews progress in implementing the
Company's eight part long term growth plan. The
Company's primary focus remains on expanding GOLD'n GRO
fertilizer sales. Incremental manufacturing facility
expansion to support GOLD'n GRO fertilizer and silver
sales growth is underway and the report presents a
description of the steps being taken.
Operating loss increased 20 percent compared to the
prior year's first quarter primarily due to increased
sales and marketing and research and development
expenses. Net loss increased by 68 percent, primarily
due to a decrease in the gain on derivative instruments.
Results for first quarter ended March 31, 2007 and the
same period in 2006 can be referenced
here
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 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.)
Contact: Paul Knopick
888-795-6336 |
