Itronics Reports 25 Percent Increase in 2007 Sales; Says 2008 Sales Prospects Are Excellent
February 05 2008 - 4:00AM
Marketwired
RENO, NV (FRANKFURT: ITG) (BERLIN: ITG) reported today that its
sales in 2007 totaled $2.3 million, a 25 percent increase compared
to 2006. Full year audited financial results are due to be filed in
the Company's Form 10K-SB on March 31, 2008.
Revenues for the fourth quarter and full year ended December 31,
2007 together with comparative figures for 2006 are presented
below:
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: Paul Knopick 888-795-6336
Itronics (CE) (USOTC:ITRO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Itronics (CE) (USOTC:ITRO)
Historical Stock Chart
From Jul 2023 to Jul 2024