WATKINS, MN and VANCOUVER, BC -- (MARKET WIRE) -- April 16, 2007 -- International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), a manufacturer of
proprietary fire resistant building materials, is pleased to report record
quarterly sales revenue and sales volume shipped into the Commercial
Modular Industry. For the quarter ending March 31, 2007, Barrier shipped
1,642,800 sq. ft. of Blazeguard products into the building industry. Of
the total sq. ft. shipped, a new quarterly record of 1,315,800 sq. ft. was
shipped into the commercial modular sector. This record volume led to
modular revenue of $441,684, an increase of 85% for the quarter ending
March 31, 2007.
The continued softness in the residential housing industry is reflected in
a decline in Blazeguard sales into the residential roof deck market for the
quarter. However, total sales volume year-to-date is still up 17% to
6,586,500 sq. ft. Sales revenue year-to-date is $4,715,140, slightly lower
than the $4,780,633 reported during the same time frame last year. Our
top-line revenue has been negatively impacted by a pass through commodity,
sheathing cost. Due to lack of demand in the housing market for past six
to nine months, sheathing prices have been at historical lows.
As the residential market slowly begins to recover and the commercial
modular remains strong, Barrier is well positioned to continue on its path
to growth and profitability. Dutton and Associates recently issued an
independent research report covering International Barrier Technology. To
view the report and rating assigned to IBTGF, please visit our website,
www.intlbarrier.com and select "Investors, Investment Analysis."
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 many of
the top multifamily homebuilders, and commercial modular building
manufacturers in the United States.
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