Thursday, January 06, 2005
Fire Resistant Building Materials Company Reports Record Sales Volume And Record Q2 Revenue Of $1,032,853 (US)
Second Quarter Fiscal Year Shipments At All Time High
Watkins, MN; Vancouver, BC January 5, 2005 - International Barrier Technology Inc. (“Barrier”) (IBTGF: OTCBB; IBH: TSXV), a manufacturer of proprietary fire resistant building materials, is pleased to report sales volume for the three month period of October - December, 2004 of 1,290,600 sq.ft., a 155 percent increase over the same period the previous year and an “all time” record quarterly volume. Sales volume for the six month period increased to 2,496,400 sq.ft. from 963,600 sq.ft., the previous 6 month period. The previous quarterly sales volume record was 1,267,100 (adjusted) for the quarter ending June 30, 2004.
Sales revenue was $1,032,853 (US), for the quarter (Q2 2005) and $2,102,763 (US) for the six month period ending December 31, 2004. Last year sales for these periods were $446,344 and $855,827 respectfully. The new sales volumes represent percentage increases of 131 percent for the three month period and 146 percent for the six month period. Each of these figures marks another record for both second quarter and first six month period sales.
“Barrier is extremely pleased with the strong finish to calendar year 2004,” said Michael Huddy, International Barrier’s President and CEO. “After the hurricane activity which impacted the beginning of this quarter, sales surged enabling us to end the calendar year with very positive momentum. We expect this level of volume to not only continue, but to continue to grow as we begin calendar year 2005”.
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. Two modular customers have been added in Southern California enabling Barrier to begin carload volume shipments to the area. “Carload volume shipments to California will greatly impact landed cost to our customers, helping the Mule-Hide system be even more competitive with current roof system alternatives, further helping Barrier to increase sales volume to the region,” says Dr. Huddy. “With each new manufacturing company converted to the Blazeguard based system, Barrier is presented with a long-term, consistent customer helping to not only increase sales volume but to provide consistency in month to month business.”
With these sales volumes, the company is well positioned to achieve consistent profitability. Positive cash flow will help fund building and production line improvements which are underway and are expected to begin to impact production volumes and efficiency as early as September of 2005. Increased capacity is needed to keep pace with increasing product demand. New efficiencies expected with the new line configuration will further enhance margins and profitability.
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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