Itronics Inc. (Itronics) has reported total revenues of $3.02 million for the year-end 2008, up 29%, compared with total revenues of $2.34 million in the previous year-end. It has also reported total revenues of $604,797 for the fourth quarter of 2008, up 46%, compared with the total revenues of $413,363 in the year-ago quatrer.
Full year GOLD’n GRO liquid fertilizer revenue growth was 29% in spite of severe water shortages for the agricultural use in the California’s central valley in fourth quarter. Even though the overall US economy is struggling, we are expecting strong fertilizer revenue growth to continue in 2009 because of both increased regional and national interest in our products and because of a significant order backlog. GOLD’n GRO Guardian Deer Repellent, Itronics’ newest product, which is being introduced in a sector where there has not been a good answer for the damage deer do to landscaping, is expected to add significantly to the 2009 revenue increase, said Dr. John Whitney, president.
Silver revenues for quarter increased to 65% and for the year increased by 41% on a 40% increase in the ounces sold. Silver and the other heavy metals are stripped from liquid photowaste as part of the company’s environmentally beneficial manufacture of the award-winning, green fertilizers. The increased silver ounce output is anticipated to produce a major increase in the silver sales in 2009.
Photo Services revenue for the fourth quarter increased by 396% due to sale of a Photochemical Silver Concentrator. A large increase in the receipts of photoliquids for the processing and conversion to the fertilizer is underway. Gallons of used photoliquids received in fourth quarter were up 19% compared to the fourth quarter of 2007. The increasing volume of the used photoliquids is anticipated to be more than adequate to support continued strong growth of the GOLD’n GRO liquid fertilizer sales.
Mining Technical Services sales has increased considerably for the full year. The recent strengthening of the gold and silver prices is likely to generate continued growth for this division in the year 2009.
Itronics is successfully implementing its long term plan to use internally developed environmentally green clean technology to produce excellent products and solid growth. This focused approach to the use of creative new clean technology has made the vertically integrated ‘Beneficial Use Photochemical, Silver, and Water Recycling’ technology and the GOLD’n GRO brand of environmentally friendly fertilizers a success, Whitney said. Exciting related technologies and products are being developed for commercialization. The planned Stage 1 silver refinery expansion will incorporate some of these and in so doing will expand and strengthen the Company’s core processing operations and improve its ability to grow profitably.