SOURCE: AXcess News

November 28, 2005 06:00 ET

One Wet Season Won't Stop This Enviro-Ag Company

RENO, NV -- (MARKET WIRE) -- November 28, 2005 -- AXcess News released a story covering an enviro-ag company's potential following one of the worst growing seasons in California, its largest market for liquid fertilizers manufactured from recycled photochemicals.

Itronics, Inc. (OTC BB: ITRO) results for the third quarter ending Sept 30, 2005, showed a decline in revenue of 16% for the quarter and 16% for nine months ending. The Reno-based enviro-ag company attributed the decline to poor weather conditions in California. While revenue declined, the photochemical recycler said that one of the wettest springs on record in California drastically affected its bulk liquid fertilizer sales to the tune of 29%, though it indicated that fourth quarter revenue has exceeded the same period last year by 30% already.

According to outlooks provided by industry leaders for the 24th annual Agribusiness Management Conference held in Fresno, Calif., growers there suffered widely mixed results that are affecting commodities prices as the season draws to a close. For suppliers like Itronics, the hit to their largest fertilizer market was significant, though that's the good news because the Reno-based company had opened markets in several states whose sales helped offset the decline that otherwise could have cut revenues another 20%. Should the spring season fair as well as its indicating the fourth quarter of this year is, 2006 could prove to be much better.

Itronics developed a process to recycle photochemicals, removing the heavy, toxic metals and creating varieties of liquid fertilizer that it processes at its plant in North Reno. It also recovers the silver and is the only manufacturer in the United States of a 5oz pure silver bar.

Itronics silver sales in the third quarter would make a mining stock enthusiast's eyes sparkle, reporting a 271% increase in the third quarter, or $46,800. That's a lot of silver bars by anyone's standards.

Commodity prices for silver have been rising, closing at $8.325, up $0.096 cents on the NYMEX Friday. While Itronics buys the bulk of its silver to meet demand, its margin for finished 5 oz silver bars is improving with Silver's increase and so is the demand from collectors and investors looking to hedge their portfolio.

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