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ITRONICS YEAR-TO-DATE SALES UP 47 PERCENT
RENO, Nevada, September 16, 2008 -- Itronics Inc. (OTC BB: ITRO; Frankfurt and Berlin Stock Exchanges: ITG) today reported that comparable year-to-date sales through August 2008 are up 47 percent, an increase to $2.2 million from $1.5 million for the same period in 2007.
GOLD?n GRO liquid fertilizer sales continued to be strong in July and August, with year-to-date sales up 48 percent. The Company?s year-to-date silver sales are up 49 percent compared to 2007. Photo services are down about 15 percent for the period, but photowaste volume is up about 6 percent in the third quarter, reversing the small decline experienced in the first half of the year. Mining technical services year-to-date revenues are more than 12 times greater than the same period in 2007 as the Company expands it revenue base through its mining expertise.
?The trends this year in each of our revenue segments are solidly positive,? said Dr. John Whitney, Itronics President. ?The demand for fertilizers is very strong with continuing price increases. While there has been a great deal of price volatility in the precious metals, underlying demand appears to be strong. With increasing turbulence in the financial and housing sectors, demand is expected to strengthen as people seek a safe haven for their assets. The market for photowaste recycling services remains strong, driven by expanding interest in maximizing use of natural resources, in clean technology, and because of a continuing reduction in alternative disposal options for liquid photowaste throughout the United States.?
?In the second quarter of 2008, the parent company of our distributor acquired a major competitor. Early in the third quarter the parent company disclosed plans to integrate the acquired company and its retail outlets into its existing retail distribution system. Our distributor has been assigned management and integration of the new retail outlets in its territory, opening up opportunities for increased GOLD?n GRO liquid fertilizer sales in California and other western U.S. markets, including Hawaii, in the fourth quarter of 2008 and in 2009,? Dr. Whitney said.
In early September the Company shipped GOLD?n GRO Guardian spray kits to qualified landscape maintenance companies. The Company expects to be receiving feedback shortly. There is opportunity for fall sales for treating plants and trees to reduce deer damage in the winter.
The Company is now focusing on implementing its three year funding plan which includes restructuring its balance sheet. The Company?s short term financing goals are to improve liquidity to support on-going sales growth, and to begin restructuring and replacing high cost debt with lower cost equity and debt financing.
?Itronics is an expanding clean technology company with enormous growth potential,? said Dr. Whitney. ?We are excited to be operating in strong and growing markets and to be making a very significant positive improvement for our environment.?
About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a "Creative Clean Technology" company. Itronics, through its subsidiary, Itronics Metallurgical, Inc. 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, 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 clean recycling and fertilizer technologies.
The Company?s environmentally friendly GOLD?n GRO liquid fertilizers, which are extensively used in agriculture, 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
("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.)