Message #18 From:
TheMachine Date: August 10, 2009 09:45:13 AM
ITRO Stock News : Itronics 2009 First Half Revenues Increase 19 Percent to $2.3 Million; Silver Sales up 144 Percent, GOLD'n GRO Fertilizer Sales up 8 Percent
Strong Growth Being Driven by Environmentally Green Clean Technology
RENO, NV -- (Marketwire) -- 07/23/09 -- Itronics Inc. (PINKSHEETS: ITRO) (FRANKFURT: ITG)
(BERLIN: ITG) reported today that total Revenues for the first half of 2009
increased by 19 percent to $2.3 million from $1.9 million in 2008. Revenue
growth in the first half continued to be driven by increases in silver, up
144 percent, and GOLD'n GRO fertilizers, up 8 percent.
Unaudited Revenues for the second quarter, and first half ended June 30,
2009, together with comparative figures for 2008 are presented below:
ITRONICS INC.
For the Quarter For the 6 Months Ended June 30 Ended June 30 2009 2008 2009 2008 REVENUE Fertilizer $1,212,492 $1,114,865 $1,691,252 $1,560,443 Silver $ 155,188 $ 80,953 $ 483,803 $ 198,018 Photo Services $ 28,939 $ 36,672 $ 71,053 $ 71,318 Mining Technical Services $ 4,768 $ 31,373 $ 27,909 $ 87,215
Total Revenues $1,401,387 $1,263,863 $2,274,017 $1,916,994
"Half year GOLD'n GRO liquid fertilizer revenue growth of 8 percent is
strong in a market where fertilizer sales have generally declined this
year," said Dr. John Whitney, Itronics President. "GOLD'n GRO Guardian
Deer Repellent, a unqiue product now being introduced, which both repels
the animals from eating valuable landscaping and also fertilizes, is
expected to add to the revenue increase in the second half of 2009."
Silver revenues for the quarter increased 92 percent and for the year
increased by 144 percent on a 243 percent increase in ounces sold. A
combination of sale of on site inventories and improved recovery technology
is producing this growth.
Photo Services revenues were flat for the first half and down by 21 percent
in the second quarter. Receipts of spent photoliquids were cut back in the
second quarter as photo liquid volumes have been exceeding the quantities
needed for GOLD'n GRO liquid fertilizer manufacturing.
Mining Technical Services sales declined, but are expected to increase in
the second half as a result of new project work. This division is working
with outside investors to form a new gold and minerals exploration company
which will contract with the division for management and technical
services. The division is expected to receive a significant equity
ownership in the new company. Details will be announced in a subsequent
press release. This division continues to advance its web based
InsideMetals.com Gold Producer Stocks information portal:
www.insidemetals.com. The recent strengthening of gold, silver, and base
metal prices is generating increased interest in mining companies and
minerals projects.
Itronics, through its subsidiary Itronics Metallurgical, is the inventor
and operator of award winning recycling technology that converts spent
photographic liquids into pure silver and GOLD'n GRO fertilizers.
Commercialization of this technology has created a "Green Consumer Option"
for photo and x-ray processors and "Green fertilizers" for horticulture and
agriculture. The fertilizers incorporate the "essence" of green because of
how they are sourced and because of their excellent performance in the
field.
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a "Creative Clean
Technology" company that produces GOLD'n GRO liquid fertilizers and pure
silver bullion. 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
converts spent photoliquids into pure silver and GOLD'n GRO liquid
fertilizers. The Company is developing environmentally compatible mining
technology, provides 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.
("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.)
