International Barrier Technology Reports Overall Sales Revenue Growth of 52% Year-to-Year for the Month of February. |
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International Barrier Technology Inc.
510 4th St., N., P.O. Box 379
Watkins, MN, 55389
USA
Press release date: March 17, 2008
Manufacturer of proprietary fire resistant building materials company realized highest monthly sales volumes since June 2007.
Watkins, MN; Vancouver, BC March 17, 2008 - International Barrier Technology Inc. ("Barrier") (IBTGF: OTCBB; IBH: TSXV), a manufacturer of proprietary fire resistant building materials, is pleased to report double digit growth in overall sales revenue and sales volume for the month of February 2008. Overall sales revenue increased 52% to $464,020 from the $304,581 in February of 2007. Revenues attributed to all product types increased. In February 2008, Multifamily Residential Roof Deck revenues increased 115% to $62,725; Commercial Modular revenues increased 46% to $182,920; and revenue from the Structural Insulated Panel market increased 100% (vs. the $29,245; $125,506, and $0 generated from these respective markets in 2/2007). Sales revenues year to date are $3,112,179, as compared to $4,281,695 year to date in 2007.
Shipments of Blazeguard products into the building industry for the month totaled 717,300 sq. ft. (This is a 60% increase over the 447,600 sq. ft. shipped overall in February 2007.) Of the total, 554,300 sq. ft. was shipped into the Commercial Modular Market (an increase of 46% over the 380,300 sq. ft. in 2/2007), 142,800 sq. ft. went into the Multi-family Residential Roof Deck Market (112% increase over 67,300 sq. ft. in 2/2007), and 20,200 sq. ft. shipped into the Structural Insulated Panel Market. Year to date sales are 4,673,900 sq. ft., in comparison to 5,933,900 sq. ft. during the same period last year.
"Barrier is encouraged by the increase in sales for February," states Michael Huddy, Barrier's President & CEO. "While a single month does not represent a trend, we feel that business is improving in some of the markets and regions we serve. Blazeguard specified and sold into the Ft. Sill military project bodes well for future commercial modular sales and the addition of two independent sales representatives in the south part of Texas should help jump start sales there in the multi-family residential sector. We are cautiously optimistic for continued improvement in shipments during 2008."
About International Barrier Technology Inc. International Barrier Technology Inc. (OTCBB: IBTGF; TSXV: IBH) develops, manufactures, and markets proprietary fire resistant building materials branded as BlazeguardŽ. Barrier's award-winning BlazeguardŽ 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. BlazeguardŽ provides Barrier's customers a premium material choice meeting an increasingly challenging combination of requirements in residential and commercial building construction. BlazeguardŽ customers include many of the top multifamily homebuilders, and commercial modular building manufacturers in the United States.
INTERNATIONAL BARRIER TECHNOLOGY INC. Michael D. Huddy President, Director
Melissa McElwee, Investor Relations Manager International Barrier Technology (866) 735-3519 mmcelwee@intlbarrier.com
For more information please visit: www.intlbarrier.com
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