WATKINS, MN and VANCOUVER, BC--(Marketwire - April 14, 2008) - International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), a manufacturer of
proprietary fire-resistant building materials is pleased to release revenue
and sales volumes results for the quarter (Q3 Fiscal 08) and month ending
March 31, 2008. Overall revenue generated for the quarter was $1,214,196,
a 14% increase over the $1,068,583 during the same period in 2007. Revenue
into the Residential Roof Deck Market grew 22% - $160,893 vs. $131,540 in
2007. Revenue attributable to the Commercial Modular industry grew 13% to
$499,509 (vs. $441,684 in Q3 07) and revenue from the Structural Insulated
Panel market was $10,181. Revenue for the month of March 2008 was
$416,682, slightly higher than the $415,949 during the same period in 2007.
Sales volume of shipments of Blazeguard products for the quarter ending
March 31, 2008 was 1,893,200 sq. ft. This is an increase of 15% over the
1,642,800 sq. ft. that was shipped during the same period last year.
Residential Roof Deck sales were higher by 15% (374,900 sq. ft. vs. 327,000
sq. ft. in Q3 Fiscal 07). Quarterly Commercial Modular shipments increased
14% year over year to 1,498,100 sq. ft. vs. 1,315,800 sq. ft. Shipments
into the Structural Insulated Panel market for the quarter were 20,200 sq.
ft.
Shipment volumes for the month ending March 31, 2008 were 657,888 sq. ft.
This compares to the 652,512 sq. ft. that was shipped during the same
period one year ago. Commercial Modular shipments grew 12% to 538,272 sq.
ft. vs. 479,616 sq. ft. shipped during the same month last year. The
demand in this market has remained strong. Shipments into the Residential
Roof Deck Market were 119,616 sq. ft. vs. 172,896 sq. ft., which included
shipments into Florida, the Midwest and the East. The residential housing
market remains quiet, but there are new building projects where Blazeguard
is being used. Our wholesaler and stocking dealers are slowly moving
through their inventory and placing new orders (on a smaller scale) to
replenish their stock. With spring upon us, we are optimistic the demand
will remain steady and hope to see an upturn in this market segment.
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
For more information please visit:
www.intlbarrier.com