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Release Archives: 07/10/2008
Itronics
First Half 2008 Sales up 39 Percent, Including a 35% Increase in
GOLD'n GRO Fertilizer Sales and 64% Increase in Silver Sales
RENO, NV--(MARKET WIRE)--Jul 10, 2008 -- Itronics
Inc. (OTC BB:ITRO.OB - News) (Frankfurt:ITG.F - News) (Berlin:ITG.BE
- News) reported today that first half 2008 sales were $1,914,000
compared to $1,374,000 in the first six months of 2007, a 39 percent
increase. Second quarter 2008 sales were $1,261,000 compared to
$841,600 last year, a 50 percent increase.
GOLD'n GRO liquid fertilizer sales were $1,560,400,
up 35 percent in the first half of 2008. Second quarter sales were
$1,114,900, a 50 percent increase over the 2007 second quarter.
Fertilizer sales growth achieved in the first half is expected to
continue in the second half of the year as on-going fertilizer demand
is at historical highs and is continuing due to global shortages
of food grains. Demand for the environmentally beneficial GOLD'n
GRO liquid fertilizers is being driven by increased effectiveness,
which improves the economics for the crop grower customers during
a period of high and increasing fertilizer prices.
Silver sales were $198,000, up 64 percent
in the first half. Second quarter sales were $81,000, a 56 percent
increase over 2007. The Company is continuing to develop and implement
its silver refinery expansion plans.
Photochemical Services sales were $71,300,
down 19 percent over the prior year first half. Second quarter sales
were $36,700, a 14 percent decline from the 2007 second quarter.
The Company began servicing a new wholesale customer in the second
quarter and expects to expand service to this customer as the year
progresses. Photochemical Services sales are also expected to increase
in the third quarter due to delivery of a new Photochemical Silver
Concentrator to a customer.
Itronics Mining Technical Services sales were
$84,200 in the first half, a 1170 percent increase over the prior
year first half and a 210 percent increase over 2007 full year sales
for this division. Sales in the second quarter were $28,400, a 1,593
percent increase compared to 2007 and a four percent increase over
2007 full year sales. The increase in Technical Services sales is
expected to continue as the Company increases its focus in this
sector.
Itronics expects to report full financial
results for the first half on August 14 when it files its Second
Quarter Form 10-Q. The Company expects to report an increase in
gross profit and a reduction in operating loss in a strong continuation
of improved operating results achieved in the first quarter.
The Company recently announced that it is
proceeding on schedule with the GOLD'n GRO Guardian deer repellent
fertilizer registration in 11 key states. Registration has been
received for Nevada, Rhode Island, and Utah. The Company plans to
have spray kits available for testing in the second half of July.
The product can be purchased at 800-368-1865.
"Silver prices, fertilizer demand and
prices, and gold prices are at all time highs," said Dr. John
Whitney, Itronics President. "Itronics, with its innovative
photochemical recycling technology that completely converts the
waste stream to pure silver and environmentally beneficial, high
quality GOLD'n GRO liquid fertilizers, is benefiting from these
strong markets," said Dr. Whitney. "On-going sales growth,
incremental expansion of Silver refining, continuing successful
acquisition of spent photoliquids to support GOLD'n GRO fertilizer
manufacturing, and completion of the first GOLD'n GRO Guardian Deer
Repellent registration with the U.S. EPA, is a result of continuing
successful implementation of the Company's eight part long term
growth plan."
About Itronics
Headquartered in Reno, Nevada, Itronics Inc.
is a "Creative Environmental Technology" company. 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
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, http://www.insidemetals.com. that 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 beneficial
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 |
