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Press Release
Archives: 05/21/2010
Itronics
Reports 2010 First Quarter Revenues
RENO,
NV, May 21, 2010 (MARKETWIRE via COMTEX) -- Itronics Inc. (PINKSHEETS:
ITRO) (FRANKFURT: ITG) (BERLIN: ITG) reported today that its total
revenues for the first quarter 2010 decreased by 53 percent to $406,000
from $873,000 in 2009. Adverse weather in central California and
northern Nevada in January and February were the key reasons for
this decline in sales. However the Company said that the second
quarter of 2010 could be the best in Itronics' history.
Unaudited
revenues for the first quarter ended March 31, 2010 together with
comparative unaudited figures for the 2009 first quarter are presented
below:
The first quarter GOLD'n GRO liquid fertilizer
revenue decline occurred in January and February. GOLD'n GRO sales
rebounded in March and were 40 percent greater than March 2009.
Silver revenues for the quarter were sharply reduced due to severe
cold weather damage to the refinery sprinkler system and to the
wet scrubbing system. Also contributing to the reduction was that
in the first quarter 2009 the Company was able to sell silver bearing
solids that had been accumulated in prior years while there were
no comparable materials to sell in the first quarter of 2010. April
2010 silver sales exceeded April 2009 silver sales by 18 percent.
The Company said receipts of silver-bearing
photographic liquids continue to be more than adequate to meet the
requirements for a large increase in GOLD'n GRO fertilizer sales.
Its Mining Technical Services sales declined in the first quarter
as the Company focuses on the Auric Gold & Minerals, Inc. polymetallic
gold project, which it is confident will produce a much larger increase
in value than consulting services.
"Itronics' outlook for the second quarter
is that it could be the best in the Company's history," said
Dr. John Whitney, Itronics President. "On-going implementation
of Itronics' five-year plan to put internally developed, environmentally
green clean technology into commercial use is producing increasingly
profitable growth that is expected to continue indefinitely."
About Itronics Headquartered in Reno, Nevada,
Itronics is a Cleantech Specialty Fertilizer and Silver Company
that produces the Award Winning 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.
Copyright 2010 Marketwire, Inc., All rights
reserved.
SUBJECT CODE:
Agriculture:Equipment and Supplies
Chemicals:Commodity Chemicals
Chemicals:Petrochemicals
Chemicals:Specialty Chemicals
Manufacturing and Production:Mining and Metals
Environment:Hazardous Materials Management
Environment:Natural Resource Management
Environment:Waste Management
Lifestyle and Leisure:Home and Garden
Chemicals:Wholesalers and Distributors |
