| News Releases
April 04, 2005
Fire Resistant Building Materials Company Reports Record Sales Volume And Record Q3 Revenue of $1,197,181 (US)
Third Quarter Fiscal Year Shipments At All Time High
Watkins, MN; Vancouver, BC April 4, 2005 - International Barrier Technology Inc. (“Barrier”) (IBTGF: OTCBB; IBH: TSXV), a manufacturer of proprietary fire resistant building materials, is pleased to report record sales volume for the period of January - March, 2005 of 1,361,100 square feet, a 19.4 percent increase over the same period the previous year and an “all time” record quarterly volume. Sales volume for the nine month period increased to 3,858,000 sq.ft. from 2,103,400 the previous year, an increase of 83 percent. The previous quarterly sales volume record was 1,290,600 sq.ft. for the quarter ending December 31, 2004.
Sales revenue was $1,197,181 (US), for the quarter (Q3 2005) and $3,299,944 (US) for the nine month period ending March 31, 2005. Last year sales for these periods were $997,801 and $1,853,628 respectfully. The new sales volumes represent percentage increases of 20.0 percent for the three month period and 78 percent for the six month period. Each of these figures marks another record for both third quarter and first nine month period sales.
“Barrier is extremely pleased with the strong start to calendar year 2005,” said Michael Huddy, Ph.D., International Barrier’s President and CEO. “The period of January through March is traditionally one of the slowest of the year. Our strong showing was more a reflection of increasing market share than it is a reflection of the building industry as a whole. We could not be more exited about the prospects for the improved efficiency and capacity being planned as a result of the new production line starting up later this year. Until that time, we will continue to press capacity limitations on the existing line and feed sales growth with existing technology.”
Mule-Hide and its distribution affiliate, ABC Supply, Inc., continue to aggressively promote UL-listed Class A and Class C roof deck assemblies and are systematically adding new manufacturing customers to the group of facilities currently utilizing the Blazeguard® based system. Mule-Hide and Barrier jointly participated in the annual Modular Builders Institute (MBI) convention and trade show held in Las Vegas, Nevada in March 2005. “The excitement for Mule- Hide’s FR Deck Panel System was palpable” observed Huddy. “I have great confidence that as the year progresses our rate of growth will continue. We are already beginning to test additional roof membranes in the quest to gain additional applications, market share, and to begin to add residential customer to the existing base of commercial users.”
About International Barrier Technology Inc.
International Barrier Technology, Inc. develops, manufactures, and markets proprietary fire resistant building materials. Its patented, non-combustible, non-toxic Pyrotite formulation has an extraordinary capability: it releases water when exposed to the heat of fire. Barrier's award-winning Blazeguard wood panels exceed International Building Code requirements in every targeted fire test and application, and uniquely combine properties that increase panel strength and minimize environmental and human impact. Blazeguard customers include D.R. Horton (DHI: NYSE), KB Home (KBH: NYSE), and Lennar (LEN: NYSE). Lowe's Companies (LOW: NYSE), Stock Building Supply, and Mule-Hide Products Co., Inc. are Blazeguard distributors. Pyrotite has potential applications with engineered wood products, paint, plastics, and expanded polystyrene
Barrier is part of the DJ Building Materials Index (US)
INTERNATIONAL BARRIER TECHNOLOGY INC.
Per: "David J. Corcoran"
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 Inc.
Richard Angle, 866-735-3519
ECON Investor Relations, Inc.
Peter Kletas, 866-948-0848
Source: International Barrier Technology Inc.
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