WATKINS, MN and VANCOUVER, BC--(Marketwire - June 13, 2008) - International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), 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 May
2008. Overall monthly sales revenue increased 25% to $580,579 from
$465,169 in May of 2008. Of that total, Multifamily Residential Roof Deck
revenues increased substantially to $118,971 from $21,479; while Commercial
Modular revenues decreased slightly from $236,621 to $201,647. Sales
revenues year-to-date, July 1, 2007 - May 31, 2008, are $4,447,961 as
compared to $5,665,649 year-to-date in 2007.
Shipments of Blazeguard products into the building industry for the month
of May 2008 grew 17% over May 2007 (874,400 sq. ft. vs. 744,400 sq. ft.)
Of the total, 591,000 sq. ft. was shipped into the Commercial Modular
market, and 283,400 sq. ft. went into the Multi-family Residential Roof
Deck market. Year-to-date sales are 6,763,100 sq. ft., in comparison to
8,113,800 sq. ft. during the same period last year.
"While the building industry remains impacted by the current economic
conditions, Barrier is optimistic with the results from the first five
months of calendar year 2008," states Dr. Michael Huddy, President and CEO.
"Sales revenue from January 2008 through May 2008 is $126,704 higher over
the same period last year ($2,163,292 vs. $2,036,589). Sales volumes of
shipments have increased 154,400 sq. ft. from 3,170,200 sq. ft. to
3,324,600 sq. ft. Our Multi-family Residential Roof Deck business has been
steadily growing in most regions: the South, Mid-Atlantic, and Midwest.
In addition, the Commercial Modular market has remained consistent and we
are looking for additional growth in that business over the next six
months."
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