ITRONICS INC.
For the Quarter For the 12 Months
Ended December 31 Ended December 31
2007 2006 2007 2006
REVENUE
Fertilizer $ 264,458 $ 261,012 $ 1,663,362 $ 1,297,282
Silver $ 108,524 $ 131,455 $ 316,814 $ 418,265
Photo Services $ 40,722 $ 67,723 $ 334,964 $ 128,033
Mining Technical
Services $ 13,151 $ 3,127 $ 28,110 $ 28,338
Total Revenues $ 426,855 $ 463,317 $ 2,343,250 $ 1,871,918
"Much of each year's sales for the last three years has been repeat
business, which is very positive," said Dr. John Whitney, Itronics
President. "Overall GOLD'n GRO sales growth for the full year reflects
expanding grower demand for our fertilizers."
The Company expects to achieve further GOLD'n GRO liquid fertilizer sales
growth in 2008 as a result of expansion of bulk blends for application
through drip irrigation systems. Increasing water shortages are causing
California farmers to convert their fields to drip irrigation which uses
less water to produce a crop. The GOLD'n GRO fertilizers are being used by
an increasing number of growers, because the fertilizers work well in drip
irrigation by reducing chemical precipitation in the lines that causes
plugging of the drippers, while at the same time producing measurable
fertilization response in the crops.
Silver sales for the quarter and for the year decreased due to refinery
shut down for part of the first quarter while waiting for the operating
permit for the new air scrubbing system, and due to external power supply
problems in the second, third, and fourth quarters. Two pieces of equipment
needed to expand silver output were received early in January and,
after installation, are expected to make it possible to expand
troy ounces of silver produced in 2008. Increased silver ounce output
combined with sharply increased silver prices is expected to produce a
major increase in silver sales in 2008.
"The Company expects to sell at least one Photochemical Concentrator in
2008, and to acquire additional supplies of used photochemicals for
processing into GOLD'n GRO liquid fertilizer base liquids. This will
expand photochemical volumes in 2008 sufficient to provide raw materials
needed to support fertilizer sales growth, while at the same time producing
further meaningful growth in revenues," Dr. Whitney said.
Mining Technical Services sales increased in the fourth quarter while this
division continues to advance its web based InsideMetals.com Gold Producer
Stocks information portal: http://www.insidemetals.com. Visitor traffic on
the InsideMetals.com web page is increasing and the site is now generating
subscription income. This increased activity is primarily due to the high
prices of gold and silver which are driving more and more investors to
examine gold and silver mining stocks as investments. Whitney & Whitney,
Inc. is also receiving inquiries about consultant services and has begun
selectively accepting mining technical services consulting assignments
which will contribute to revenue growth in 2008.
The Company filed a registration application for GOLD'n GRO Guardian deer
repellent in the fourth quarter. The Company has been told that the
registration is on a path to be issued towards the end of the second
quarter of this year. If the registration is received, the Company expects
that sales could begin late in the third quarter. This will be a new
revenue source for the Company and internal market studies suggest that
sales of this product could grow quite rapidly. The gross profit margin
for this product line is about twice that of the GOLD'n GRO liquid
fertilizers. Because of this, GOLD'n GRO Guardian deer repellent
fertilizer sales are expected to rapidly produce a significant increase in
the Company's profitability.
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 Inc. is a "Creative Environmental
Technology" company and a world leader in photochemical recycling. 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 compatible 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 Information: Contact: Paul Knopick 888-795-6336