SOURCE: AXcess News

October 05, 2007 13:17 ET

AXcess News: Enviro-Ag Company Continues to Show Gains in Third-Quarter Results

HOUSTON, TX--(Marketwire - October 5, 2007) - Itronics, Inc. (OTCBB: ITRO) reported an 82% gain in third-quarter sales late Thursday and though the enviro-ag maker of environmentally friendly liquid fertilizer is only first starting to show reasonably strong growth, the time-to-market in wading through a host of environmental regulations state-by-state before it could even begin selling its GOLD'n GRO brand, is beginning to take root.

The Reno, Nevada-based company has had several years of wading through red tape on a state-by-state basis in getting its GOLD'n GRO liquid fertilizer ok'd by state environmental agencies and in the second-half of this year Itronics has been building on that momentum, racking up higher and higher levels of sales as a result.

Itronics said late Thursday that sales of liquid fertilizer grew 82% in the third-quarter in comparison to the same period last year, noting that, "liquid fertilizer sales increased due to an expanded customer base."

What makes Itronics so newsworthy is the fact that it operates the only plant in the US approved by the EPA in removing heavy metals from waste photochemicals in which it manufactures GOLD'n GRO brand liquid fertilizers and pure 5-ounce silver bars from the heavy metals, selling both precious metals and environmentally friendly fertilizers.

While Itronics built its business on a "green" foundation, it's expanding its product line and awaiting EPA approval of its newest product GOLD'n GRO Guardian, a systemic that is taken up through the roots, both fertilizing plants while repelling deer. Itronics said the market for this new product could exceed $50 million and that it expects to be able to begin selling it in the Northeast region of the Country next year.

Nine months results shows sales of Itronics GOLD'n GRO fertilizer division were $1.914 million compared to $1.393 million in the comparable period last year, an increase of 37%. While sales are small, its only taken Itronics a decade and about $20 million to get to a starting point where its brand is showing a here-to-stay appeal. Most of that development was in the way of research and the long process of environmental approval before it could even sell one pint. But with development behind it, "Itronics is growing," says founder Dr. John Whitney.

Dr. Whitney noted in Thursday's third-quarter results announcement that, "sales increases demonstrate that Itronics eight part long term growth plan continues to be successfully implemented."

While the maker of "green" fertilizer emphasized that it stuck to its business plan, the fact that it did is showing up through the introduction of niche products like its deer repellent and for that, Whitney has a lot to boast about as Itronics enters a new era of market growth verses development.

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