In a press statement released yesterday, Itronics Inc. reported a healthy increase in sales for the first half of 2008 over the same period in 2007. The total figure was recorded at $1.91 million, representing a 39-percent increase over first half 2007’s $1.37 million. Second quarter 2008 sales jumped an impressive fifty percent from $841,600 to $1,261,000.
Itronics’ GOLD’n GRO liquid fertilizer comprised the majority of first-half sales, at a staggering $1.56 million out of the total $1.91 million, or 35-percent greater than those of the first half of 2007. The company expects the second half of 2008 to yield similar results, as demand for the product has been increasing steadily.
This set of preliminary figures from the first half was enough to boost Itronics’ share price fifty percent on Thursday, although full financial data for the period will not be released until the 14th of August. The company has speculated further rises in gross profit, coupled with a reduced operating loss. In all, the remainder of 2008 looks promising for Itronics.
Dr. John Whitney, president of Itronics stated: “On-going sales growth, incremental expansion of Silver refining, continuing successful acquisition of spent photoliquids to support GOLD’n GRO fertilizer manufacturing, and completion of the first GOLD’n GRO Guardian Deer Repellent registration with the U.S. EPA, is a result of continuing successful implementation of the Company’s eight part long term growth plan.”
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