Contact Information: Contact: Paul Knopick 888-795-6336
Itronics Reports 22% Increase First Quarter 2008 Sales
| Source: Itronics Inc
RENO, NV--(Marketwire - April 23, 2008) - Itronics Inc. (OTCBB : ITRO ) (FRANKFURT : ITG )
(BERLIN : ITG ) reported today that total sales were $650,000, up 22 percent
compared to the first quarter of 2007.
First quarter 2007 GOLD'n GRO fertilizer division sales were $446,000
compared to $414,000 in the comparable quarter last year, an increase of 8
percent. World-wide demand for fertilizers increased sharply in the first
quarter creating shortages of certain basic fertilizer materials. Because
of this, delays were experienced in obtaining raw materials and some GOLD'n
GRO liquid fertilizer deliveries were delayed to the second quarter. At
the end of the first quarter, Itronics had the largest backlog of truck
load orders since it began fertilizer manufacturing.
Silver sales were $117,000, up 70 percent in the first quarter. In March
the Company successfully tested its temporary screening machine
installation. The Company expects that this incremental expansion in silver
production capacity will increase silver output in 2008.
Photochemical services sales were $35,000, down 24 percent over the prior
year quarter, due to a reduction in photoliquids from one supplier. The
Company has a large on-site supply of photoliquids. During the quarter the
Company finalized terms for a new liquid photochemical services agreement
with a large service company and expects to start receiving liquids for
processing in the second quarter. The Company believes that with
agreements in place, or being negotiated, it has sufficient photographic
liquid raw materials to support the GOLD'n GRO liquid fertilizer sales
growth.
Itronics Mining Technical Services sales were $52,000 in the first quarter,
an increase of 958 percent over the prior year's first quarter and a 93
percent increase over 2007 full year sales. The increase is expected to
continue.
As previously announced, on March 27, 2008 the Company was informed that
its wholly-owned subsidiary Itronics Metallurgical, Inc. had received label
registration for GOLD'n GRO Guardian Deer Repellent from the U.S.
Environmental Protection Agency (EPA). "The Company is now in the process
of registering the GOLD'n GRO Guardian in 11 states so that sales
development can be started in mid to late May or early June," said Dr. John
Whitney, President.
Itronics expects to report full financial results for the first quarter on
May 15 when it files its First Quarter Form 10-QSB.
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a "Creative Environmental
Technology" company. Through its subsidiary, Itronics Metallurgical, Inc.,
Itronics is the only company with a fully permitted "Beneficial Use
Photochemical, Silver, and Water Recycling" plant in the United States that
can convert used photoliquids into pure silver and GOLD'n GRO liquid
fertilizers. 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 at
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. The Company's environmentally friendly GOLD'n GRO liquid
fertilizers 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.
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.)