WATKINS, MN and VANCOUVER, BC -- (MARKET WIRE) -- January 10, 2007 -- International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), a manufacturer of
proprietary fire resistant building materials, is pleased to report record
year to date sales revenue and sales volume shipped. Two million, two
hundred fifty one thousand, eight hundred sq. ft. (2,251,800) of
Blazeguard products were shipped for the quarter ending December 31, 2006.
This is a 24% increase from the same period in the previous year. Four
million, nine hundred forty three thousand, seven hundred sq. ft.
(4,943,700) of Blazeguard products have been shipped year to date, which is
an increase of 42% over the 3,471,600 shipped year to date ending December
31, 2005.
Year to date sales revenue increased 23% from $2,954,968 to $3,631,028.
During this period sheathing costs, which are a pass through commodity,
continue near all-time lows. This kept top-line sales revenue lower that
what it could have been had sheathing prices been at or above average
historical prices.
Growth in the residential roof deck market was impressive with an increase
of 24% quarter to quarter (from 1,068,900 sq. ft. to 1,327,400 sq. ft.) and
53% year to date at 2,830,900 sq. ft. In addition, sales volumes into the
commercial modular industry rose 23% to 924,400 sq. ft. for the quarter and
30% to 2,112,800 sq. ft. year to date.
"Top-line revenue growth continues to be impressive, despite December
softness in the multifamily residential building market," reports Dr.
Michael Huddy, President. "Growth in commercial modular markets is
providing fuel to sales volume growth and positions Barrier to profit
significantly as housing starts recover strength in 2007. While Barrier
continues to focus on improving market share and sales volume growth,
additional emphasis has been placed upon activities designed to improve
efficiencies and bottom line revenue during 2007 and beyond. These
initiatives, driven by the continued utilization and streamlining of the
new manufacturing line at the Watkins, Minnesota facility, will facilitate
a strong finish to fiscal year 2007."
About International Barrier Technology Inc.
International Barrier Technology Inc. (
OTCBB:
IBTGF) (
TSX-V:
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.
Michael D. Huddy
President, Director
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.
Contact Information: Contact:
Melissa McElwee
Investor Relations Manager
International Barrier Technology
(866) 735-3519
Email Contact
For more information please visit:
www.intlbarrier.com