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Itronics Year-to-Date Sales up 47 Percent
| Source: Itronics Inc.
RENO, NV--(Marketwire - September 16, 2008) - Itronics Inc. (OTCBB : ITRO ) (FRANKFURT : ITG )
(BERLIN : ITG ) 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.)