WATKINS, MN and VANCOUVER, BC--(Marketwire - July 19, 2007) - International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), a manufacturer of
proprietary fire-resistant building materials, is pleased to report record
sales volumes for both the fourth quarter and the fiscal year.
The fiscal year was closed with a strong fourth quarter. Record Q4
shipments were achieved as 2,273,000 sq. ft. shipped Apr-Jun 2007 in
comparison to the 2,267,100 sq. ft. during the same period last year.
Commercial Modular represented 1,944,300 sq. ft. and Residential Roof Deck
was 328,700 sq. ft. Revenues reported for the quarter were $1,435,254
($680,559 from Commercial Modular and $109,192 from Residential Roof Deck).
Record Blazeguard sales volumes of 8,859,400 sq. ft. were shipped for the
fiscal year ending June 30, 2007. This was an increase of 12% (despite the
prolonged weakness in the residential housing market) from the 7,894,000
sq. ft. shipped in Fiscal 2006. Commercial Modular business surpassed five
million sq. ft. (5,372,900 sq. ft.) for the fiscal year, representing a 61%
growth in business year to year. The residential roof deck market
represented 3,486,500 sq. ft. of total shipments vs. 4,559,800 sq. ft. into
that market last year.
Fiscal year to date sales revenue was $6,132,897, a decline of $477,904
from the $6,610,801 reported last year. However, after adjusting $733,613
for the decrease in pass through sheathing costs, sales revenues actually
increased by 4%. The revenue generated from Commercial Modular was
$1,797,534 and $1,423,082 from Residential Roof Deck.
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: Melissa McElwee
Investor Relations Manager
International Barrier Technology
(866) 735-3519
For more information please visit:
www.intlbarrier.com