SOURCE: AXcess News

AXcess News

January 15, 2010 16:31 ET

AXcess News: Specialty "Green" Fertilizer Maker Sees Positive Growth Prospects This Year

HOUSTON, TX--(Marketwire - January 15, 2010) - Reno-based Itronics Inc. (PINKSHEETS: ITRO) reported an 11 percent increase in full-year revenue Thursday, though its fourth quarter results indicate an even stronger prospect in 2010, mostly due to the popularity of its environmentally friendly line of specialty liquid fertilizers which are used as supplements in conjunction with other fertilizers.

According to the International Fertilizer Association (IFA) Fertilizer Outlook 2009-2013, the beginning of 2009 was dim for the fertilizer industry with disappointing sales prospects and weak demand recovery during the year.

Yet, the IFA's Outlook also indicated that "market conditions could improve steadily in 2010."

While the Report indicates a 3.5% global increase in fertilizer sales in 2010 -- Itronics recorded a 16% increase in 2009 and in the fourth quarter sales of its GOLD'n GRO brand of environmentally friendly liquid fertilizers shot up 133%.

In Thursday's press release, Itronics' founding President Dr. John Whitney stated that "The strong growth experienced in the fourth quarter is expected to continue in 2010."

Whitney attributed those results to the Company's line of chelated liquid micro-nutrient fertilizers. "These advanced technology micronutrient fertilizers are used as supplements in grower fertilization programs, and are now driving GOLD'n GRO sales growth," Whitney said.

Fertilizer supplements are seen as money-saving resources that can improve soil conditions and in some cases reduce the amount of other fertilizers farmers use, such as Phosphorous or Potassium.

Field tests conducted over several years have helped boost Itronics' GOLD'n GRO sales. Even Dr. Whitney credited the value of Itronics' family of environmentally friendly line of fertilizers to customers who are seeing results as to why sales have improved, though he would not comment on actual trials, citing on-going development and research.

"Itronics has become an important western U.S. manufacturer," Whitney stated.

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