April 10, 2006
International Barrier Technology - Fire Resistant Building Materials Company Reports Record Year-to-Date Revenue
Record Monthly and Quarterly Sales Volume for March, 2006
Year to Date Sales at ``All Time High'' of US $4,780,494
WATKINS, Minn. & VANCOUVER, Bristish Columbia, April 10, 2006 - International Barrier Technology Inc. ("Barrier") (OTCBB: IBTGF; TSX VENTURE: IBH), a manufacturer of proprietary fire resistant building materials, is pleased to report record shipments for the month and quarter ending March 2006. Eight hundred fifty-one thousand, six hundred sq. ft. (851,600) of Blazeguard products were shipped in March eclipsing the previous monthly record of 693,700 sq.ft. set in December 2005 by 23%. Two million one hundred fifty-five thousand, four hundred sq. ft. (2,155,400) of Blazeguard products were shipped for the quarter ending March 31, 2006 which surpassed the previous quarterly record of 1,820,200 sq. ft. shipped in the quarter ending December 31, 2005.
Year to year March sales were 60% higher in 2006 relative to 2005 sales of 531,700 sq. ft. Year to year quarterly sales for the three month period ending March 31, 2006 were 58% higher than the 1,361,100 sq. ft. shipped for the same quarter in 2005.
Fiscal year to date sales revenue has increased to $4,780,494 an increase of 45%, from 2005.
Sales growth has been realized in both multifamily residential markets as well as the commercial modular market. Blazeguard® sales volumes into Florida, for instance, have increased to 1,118,000 square feet, an increase of 119% over the 510,000 square feet shipped there during the same quarter in 2005. Commercial modular sales to Mule-Hide increased 48% from 539,500 to 801,000 square feet.
In addition, Barrier's sales force has begun to achieve sales into the Midwest region multifamily residential market through the conversion of builders previously using alternative methods of attaining the required fire code. Sales orders continue to outpace last year's rate at record levels.
"Barrier is well positioned to sustain growth at a rapid, but manageable rate. Our focus for 2006 continues to be directed at sales volume growth and to shift the majority of our required production to the new manufacturing line. The new line is an integral and important step in achieving our goals of new market development and improved efficiencies of production. Attainment of these goals will provide a significantly positive impact to our bottom line. We anticipate continued success in the start-up process and the ability to shift more and more of our production to the new line in the days ahead," states Dr. Michael Huddy, President and CEO.
About International Barrier Technology Inc.
International Barrier Technology Inc. (OTCBB: IBTGF; TSX VENTURE: IBH) develops, manufactures, and markets proprietary fire resistant building materials branded as Blazeguard®. Barrier's award-winning Blazeguard® wood panels use a patented, non-toxic, non-combustible coating with an extraordinary capability: it releases water in the heat of fire. The panels exceed "model" building code requirements in every targeted fire test and application, and are unique in combining properties that increase panel strength and minimize environmental and human impact. Blazeguard® provides Barrier's customers a premium material choice meeting an increasingly challenging combination of requirements in residential and commercial building construction. Blazeguard® customers include four of the five top US homebuilders.
INTERNATIONAL BARRIER TECHNOLOGY INC.
David J. Corcoran
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.
Forward-Looking Information: The statements in this news release contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve certain risks, assumptions and uncertainties, including but not limited to the ability to generate and secure product sales. In each case actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized.
International Barrier Technology
1-866-735-3519, (320) 764-5797
Source: International Barrier Technology
« back to news releases page