ITRO Itronics Inc (CE)

HOUSTON, TX just released its third-quarter results reporting a 65.7% increase in fertilizer sales compared to the same period last year. For the nine months ending Sept 30, 2007, Itronics reported a 34.9% increase. Itronics also reported the first-ever earnings per share.

While sales overall for the Reno-based manufacturer of Green fertilizers is small in comparison to Monsanto Corp, Itronics owns the only plant in the United States approved by the EPA to recycle photochemicals, removing the heavy metals and manufacturing pure silver bars from the waste and using the leftover liquids to manufacture its line of environmentally friendly fertilizers sold under the GOLD'n GRO brand.

Itronics' founder, Dr. John Whitney, noted, "This is the first time Itronics has achieved a positive gross profit in the third quarter which is normally the lowest sales quarter of the year."

An overlooked comment in last week's earnings report was the fact that "restrictions on alternative methods of liquid photochemical disposal continue to tighten." Itronics noted in that release that two new waste photochemical processing agreements were in play which when concluded would "provide sufficient photoliquids to support GOLD'n GRO fertilizer sales growth in 2008 and beyond." Dr. Whitney was tight-lipped later when asked in a telephone interview to provide details on those sources, preferring to wait until the contracts were concluded before disclosing that information. But he did explain that environmental rules throughout the Country were making it more difficult for companies to find ways of safely disposing of the waste liquids created in photo processing and that because of it, Itronics was fast becoming a more viable solution.

More traditional fertilizers are creating nitrate buildup in the soil and contaminating groundwater as well, which environmentalists are combating, but costs have also gone up and because of that, farmers are looking for answers and in Itronics' Green fertilizers it appears they're finding it as repeat sales push demand for GOLD'n GRO fertilizers higher. Now, Itronics looks to replenish raw material supplies to meet that demand and along with it has launched a new systemic fertilizer that promises to repel deer while providing environmentally friendly plant nutrients. GOLD'n GRO Guardian is due out on the market early next year.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Contact: Eric Stevenson 502-868-9007

Itronics (CE) (USOTC:ITRO)
Historical Stock Chart
From Jun 2024 to Jul 2024

Itronics (CE) (USOTC:ITRO)
Historical Stock Chart
From Jul 2023 to Jul 2024