| Press
Release Archives: 09/16/2008
Itronics
Year-to-Date
Sales up 47 Percent
RENO, NV--(MARKET WIRE)--Sep 16, 2008 -- Itronics
Inc. (OTC BB:ITRO.OB - News) (Frankfurt:ITG.F - News) (Berlin:ITG.BE
- News) today reported that comparable year-to-date sales through
August 2008 are up 47 percent, an increase to $2.2 million from
$1.5 million for the same period in 2007.
GOLD'n GRO liquid fertilizer sales continued to
be strong in July and August, with year-to-date sales up 48 percent.
The Company's year-to-date silver sales are up 49 percent compared
to 2007. Photo services are down about 15 percent for the period,
but photowaste volume is up about 6 percent in the third quarter,
reversing the small decline experienced in the first half of the
year. Mining technical services year-to-date revenues are more than
12 times greater than the same period in 2007 as the Company expands
its revenue base through its mining expertise.
"The trends this year in each of our revenue
segments are solidly positive," said Dr. John Whitney, Itronics
President. "The demand for fertilizers is very strong with
continuing price increases. While there has been a great deal of
price volatility in the precious metals, underlying demand appears
to be strong. With increasing turbulence in the financial and housing
sectors, demand is expected to strengthen as people seek a safe
haven for their assets. The market for photowaste recycling services
remains strong, driven by expanding interest in maximizing use of
natural resources, in clean technology, and because of a continuing
reduction in alternative disposal options for liquid photowaste
throughout the United States."
"In the second quarter of 2008, the parent
company of our distributor acquired a major competitor. Early in
the third quarter the parent company disclosed plans to integrate
the acquired company and its retail outlets into its existing retail
distribution system. Our distributor has been assigned management
and integration of the new retail outlets in its territory, opening
up opportunities for increased GOLD'n GRO liquid fertilizer sales
in California and other western U.S. markets, including Hawaii,
in the fourth quarter of 2008 and in 2009," Dr. Whitney said.
In early September the Company shipped GOLD'n GRO
Guardian spray kits to qualified landscape maintenance companies.
The Company expects to be receiving feedback shortly. There is opportunity
for fall sales for treating plants and trees to reduce deer damage
in the winter.
The Company is now focusing on implementing its
three year funding plan which includes restructuring its balance
sheet. The Company's short term financing goals are to improve liquidity
to support on-going sales growth, and to begin restructuring and
replacing high cost debt with lower cost equity and debt financing.
"Itronics is an expanding clean technology
company with enormous growth potential," said Dr. Whitney.
"We are excited to be operating in strong and growing markets
and to be making a very significant positive improvement for our
environment."
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is
a "Creative Clean 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, 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. |
