RENO,
Nev., Nov. 16 /PRNewswire-FirstCall/ -- Itronics Inc.
(OTC Bulletin Board: ITRO; Frankfurt and Berlin Stock
Exchanges: ITG) reported today that first nine months
revenue totaled $1,322,744, a 34 percent increase
compared to the first nine months of 2003.
Photochemical Recycling revenues in the first nine
months increased 66 percent, driven by a GOLD'n GRO
fertilizer revenue increase of 103 percent. The
Company had a consolidated net loss of $2,283,245 for
the nine months ended September 30, 2004, a larger
loss than in 2003. This is primarily due to a swing
from profit to loss in the Company's Mining Technical
Services segment, and an increase in sales and
marketing expenses due to significant expansion in the
Photochemical Recycling segment.
"We are
very pleased to report the increased sales of the
Company's GOLD'n GRO liquid fertilizer, up 195 percent
compared to the prior year third quarter and 103
percent for the first nine months," said Dr. John
Whitney, Itronics President. "The Company's GOLD'n GRO
liquid fertilizer geographic expansion into three
states in the northwest and seven states in the
northeastern U.S. is going well and is expected to
begin contributing to GOLD'n GRO sales increases in
2005."
The
Company's Form 10-QSB which was filed on November 15
presents an eight part, long term growth strategy for
Itronics Metallurgical, Inc., the Company's
wholly-owned Photochemical Recycling subsidiary, and a
two part long term growth plan for Whitney & Whitney,
Inc., Itronics' wholly-owned mining technical services
subsidiary. A new "e-commerce" plan being implemented
by Whitney & Whitney, Inc. is described for the first
time as one component of this business plan.
Itronics, through its subsidiary, Itronics
Metallurgical, Inc., is the only company in the world
with the technology to extract more than 99 percent of
the silver and virtually all the other toxic heavy
metals from used photoliquids and to use this
"Beneficial Use Photochemical, Silver, and Water
Recycling" technology to convert the resulting liquids
into environmentally beneficial, chelated,
multinutrient liquid fertilizer products sold under
the trademark GOLD'n GRO, and 5 troy ounce, 0.999
pure, Silver Nevada Miner numismatic bars. The
environmentally friendly liquid fertilizers, which can
be used for lawns and houseplants and GOLD'n GRO
liquid fertilizer injectors are available at the
Company's "e-store" catalog at
http://goldngro.com .
The Silver Nevada Miner bars, a popular souvenir of
Nevada's mining history, are available at the
Company's 'e-store' catalog at
http://www.itromet.com
.
Headquartered in Reno, Nevada, Itronics Inc. is
Nevada's leading "Beneficial Use Recycling" technology
company and a world leader in photochemical recycling.
The Company also provides project planning and
technical services to the mining industry. Dr. John
Whitney, Itronics President, was selected as Nevada's
Inventor of the Year for 2000 and is a member of the
Inventor's Hall of Fame at the University of Nevada,
Reno. Itronics was one of five finalists for the 2001
Kirkpatrick Chemical Engineering Award, the most
prestigious worldwide award in chemical engineering
technologies.
ITRONICS INC.
For the Quarter For the 9 Months
Ended September 30 Ended September 30
2004 2003 2004 2003
Revenue $289,734 $308,192 $1,322,744 $986,623
Gross Profit(Loss) $(52,787) $(57,674) $(48,948) $(76,739)
Operating Income
(Loss) $(617,605) $(625,083) $(1,817,014) $(1,623,247)
Net Income
(Loss) $(769,956) $(671,638) $(2,283,245) $(1,979,171)
Net Income
(Loss) Per Share $(0.005) $(0.006) $(0.017) $(0.020)
Average
Weighted
Outstanding
Shares 144,755,000 107,481,000 136,715,000 98,960,000
VISIT OUR WEB SITE: www.itronics.com
(Statements in this press release may constitute
forward-looking statements and are subject to numerous
risks and uncertainties, including the failure to
complete successfully the development of new or
enhanced products, the Company's future capital needs,
the lack of market demand for any new or enhanced
products the Company may develop, any actions by the
Company's partners that may be adverse to the Company,
the success of competitive products, other economic
factors affecting the Company and its markets, and
other risks detailed from time to time in the
Company's filings with the Securities and Exchange
Commission. The actual results may differ materially
from those contained in this press release. The
Company disclaims any obligation to update any
statements in this press release.)
