Itronics Reports 27 Percent Increase in Revenue in First Quarter

ARCHIVED 2002–2016: Originally distributed via the eWire press wire service. Preserved as historical record.

SUBSCRIBE/UNSUBSCRIBE |

Conservation & Wildlife

Corporate Responsibility

Science & Technology

Syndication Partners

**************************************************************************

E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE

**************************************************************************

For Immediate Release

Itronics Reports 27 Percent Increase in Revenue in First Quarter

NEVADA, RENO, May. 17 -/E-Wire/-- Itronics Inc. (OTCBB: ITRO) today reported revenue totaled $358,219 for the first quarter ended March 31, 2001, a 27.2 percent increase compared to revenue of $281,638 for the comparable period in 2000. Itronics reported a loss of ($0.01) per share for the first quarter of 2001, equal to the loss of ($0.01) per share for the same period of 2000.

"GOLD'n GRO fertilizer sales more than doubled in the first quarter with a 104 percent increase,' said Dr. John Whitney, Itronics President. "Silver and gold sales increased 293 percent, photochemical services were up 3 percent, and total sales for the photobyproduct fertilizer segment increased 124 percent during the first quarter while technical service revenues decreased by 20 percent.'

"GOLD'n GRO fertilizer product sales development and administrative expenses increased in the first quarter. These increased expenses are now at needed operational levels and are required to establish full scale commercial sales of our fertilizer products,' Dr. Whitney said.

During the first quarter of 2001, Itronics' subsidiary, Itronics Metallurgical, Inc., received its first sales order from Hawaii and expanded its field trials using GOLD'n GRO fertilizer products on cut flowers, herbs, sweet corn, and alfalfa.

"These trials continue to show significant improvements in crop production and quality. The trials are providing agronomic data that is being used to develop GOLD'n GRO nutrition programs for the crops being tested. The citrus trial started in the fourth quarter of 2000 is producing significant positive results that will be detailed later in the quarter," Dr. Whitney said.

During the first quarter the need for two new "chloride free' products was identified as the result of discussions with the Company's primary distributor and potential customers. Itronics subsequently developed a new chloride free "plant starter' product for the nursery, greenhouse, and vegetable markets which along with a new chloride free "general-purpose' product for the nursery, greenhouse and golf course markets is being readied for introduction during the current quarter.

Itronics Metallurgical, through a proprietary technology, extracts silver and other heavy metals from liquid photographic waste and manufactures environmentally compatible liquid fertilizers from the remaining material. Itronics Metallurgical offers 13 multinutrient liquid fertilizer formulas under the tradename GOLD'n GRO which, when used in different combinations, satisfythe nutritional needs of almost every horticultural crop. The fertilizers are prepared using distilled water.

Itronics Inc. is one of Nevada's leading process technology development companies and a world leader in photochemical recycling. Headquartered in Reno, Nevada, it specializes in recycling technology development, photobyproduct recycling, silver refining, and technical services for the mining and recycling industries. Dr. John Whitney, Itronics President, was selected as Nevada's Inventor of the Year for 2000 and is a member of the Inventor's Hall of Fame at the University of Nevada, Reno.

For the Quarter Ended March 31 2001 2000

Revenue $ 358,219 $ 281,638

Net Income (Loss) $ (948,744) $ (804,750)

Net Income (Loss) Per Share $ (0.01) $ (0.01)

Fully Diluted Income (Loss) Per Share $ (0.01) $ (0.01)

Average Weighted Outstanding Shares 76,246,000 71,809,000

VISIT OUR WEB SITE: www.itronics.com

(The statements in this news release that are not historical facts or statements of current status are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 that involve risk and uncertainties. Actual results may differ materially)

http://www.itronics.com

**************************************************************************

To Transmit Your News Over E-Wire, visit http://www.ewire.com or

call 1-[REDACTED-PHONE]. E-Wire Is Broadcast To Millions Of Readers Worldwide

**************************************************************************