Itronics Inc (ITRO)

[$oldier Hard]

Results of Operations

.005 per share.


We reported consolidated revenues of $1,263,863 for the quarter ended June 30, 2008, compared to $841,585 for the prior year quarter, an increase of 50%. The increase was due to a combination of increases in GOLD’n GRO Fertilizer segment revenue of $392,600, or 47% and Mining Technical Services segment revenue of $29,700, or 1,773%. Consolidated net income was $5,552,772, or $0.005 per share, for the quarter ended June 30, 2008, compared to a net loss of $1,235,605 or $0.003 per share for the comparable 2007 period, an improvement of $6,788,400. The significant change from a loss to a profit is due to an increase in sales and related gross profit, reduction in operating costs, and to a non-cash gain on derivative instruments related to our financing.