AXcess News: Demand for Green Fertilizers Increases
November 19 2007 - 10:56AM
Marketwired
HOUSTON, TX just released its third-quarter results reporting a
65.7% increase in fertilizer sales compared to the same period last
year. For the nine months ending Sept 30, 2007, Itronics reported a
34.9% increase. Itronics also reported the first-ever earnings per
share.
While sales overall for the Reno-based manufacturer of Green
fertilizers is small in comparison to Monsanto Corp, Itronics owns
the only plant in the United States approved by the EPA to recycle
photochemicals, removing the heavy metals and manufacturing pure
silver bars from the waste and using the leftover liquids to
manufacture its line of environmentally friendly fertilizers sold
under the GOLD'n GRO brand.
Itronics' founder, Dr. John Whitney, noted, "This is the first
time Itronics has achieved a positive gross profit in the third
quarter which is normally the lowest sales quarter of the
year."
An overlooked comment in last week's earnings report was the
fact that "restrictions on alternative methods of liquid
photochemical disposal continue to tighten." Itronics noted in that
release that two new waste photochemical processing agreements were
in play which when concluded would "provide sufficient photoliquids
to support GOLD'n GRO fertilizer sales growth in 2008 and beyond."
Dr. Whitney was tight-lipped later when asked in a telephone
interview to provide details on those sources, preferring to wait
until the contracts were concluded before disclosing that
information. But he did explain that environmental rules throughout
the Country were making it more difficult for companies to find
ways of safely disposing of the waste liquids created in photo
processing and that because of it, Itronics was fast becoming a
more viable solution.
More traditional fertilizers are creating nitrate buildup in the
soil and contaminating groundwater as well, which environmentalists
are combating, but costs have also gone up and because of that,
farmers are looking for answers and in Itronics' Green fertilizers
it appears they're finding it as repeat sales push demand for
GOLD'n GRO fertilizers higher. Now, Itronics looks to replenish raw
material supplies to meet that demand and along with it has
launched a new systemic fertilizer that promises to repel deer
while providing environmentally friendly plant nutrients. GOLD'n
GRO Guardian is due out on the market early next year.
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Contact: Eric Stevenson 502-868-9007
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