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ITRONICS REPORTS 22% INCREASE FIRST QUARTER
2008 SALES
RENO, Nevada,
April 23, 2008 -- Itronics Inc. (OTCBB: ITRO; Frankfurt and Berlin Stock Exchanges: 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 Itronics successfully tested its temporary screening
machine installation. Itronics 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.
However Itronics has a large on-site supply of photoliquids, so this reduction did not affect GOLD’n GRO fertilizer manufacturing. During the
quarter Itronics 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. Itronics believes that with agreements in place, and being
negotiated, it has sufficient photographic liquid raw materials to support 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 Itronics 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). “Itronics Metallurgical is now in
the process of registering 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 ..
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VISIT OUR WEB SITE: http://www.itronics.com