October 04, 2005
International Barrier Reports Continued Increase in Sales Volume
July-September Sales Represent the Best Quarter Performance in Corporate History
Watkins, MN; Vancouver, BC October 4, 2005International Barrier Technology Inc. (“Barrier”) (IBTGF: OTCBB; IBH: TSXV) has reported sales volume for the period of July - September, 2005 of 1,651,400 sq.ft., a 36.9 percent increase over the same period the previous year. Sales revenue was $1,344,145 (US), a $274,235 gain from last year’s first fiscal quarter total of $1,069,910. Commercial modular sales revenue was up 121 percent from the same period in the pervious year and accounted for 51.5 percent of first quarter sales volume.
“Sales continue to be strong in our key target markets of multi-family residential and commercial modular construction,” said Dr. Michael Huddy, International Barrier’s President. “Barrier is extremely pleased with the growth in sales to the commercial modular segment and we anticipate sustained growth, in-part, because of the increased demand for modular structures created by the devastating and unfortunate effects of Hurricanes Katrina and Rita. Our current strategy is to continue to support commercial modular growth but to establish a further priority in developing multifamily residential business in the western US.”
With the ICC-ES model code report complete, sales destined for multifamily residential construction have already begun in the Midwest region of the US. Mr James Kleinke, Barrier’s newly hired Sales and Marketing Manager, has made initial presentations to most Minneapolis area builders and building product distributors. Stock Lumber Company, the largest supplier of building products in the US, and a stocking distributor of Blazeguard in Florida and Virginia, has begun to inventory Blazeguard® in two yards in the Minneapolis area and has delivered Blazeguard to at least two projects in the region. Mr. Kleinke will be instrumental in helping to set up sales and marketing operations in other western US geographies, such as Texas and Southern California, as the year progresses.
With these sales volumes, the company is positioned to achieve consistent profitability. Positive cash flow will provide funds for ongoing building and production line improvements that are expected to be complete during the second fiscal quarter. These improvements will not only improve product uniformity and production efficiencies, but also serve to quadruple production capacity. Increased capacity is critical to enable Barrier to meet increasing demand.
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
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