WATKINS, MN and VANCOUVER, BC--(Marketwire - October 16, 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 (Q1 Fiscal 09) and month ending
September 30, 2008. Overall revenue generated for the quarter was
$1,588,598, a 27% increase over the $1,249,555 during the same period in
2007. Revenue into the Residential Roof Deck Market grew 56% - $227,820
vs. $145,730 in 2007. Revenue attributable to the Commercial Modular
industry grew 7% to $556,826 (vs. $522,636 in Q1 08) and revenue from the
Structural Insulated Panel market was $17,606. Revenue for the month of
September 2008 was $451,189, slightly higher than the $443,065 during the
same period in 2007.
Sales volume of shipments of Blazeguard products for the quarter ending
September 30, 2008 was 2,105,500 sq. ft. This is an increase of 12% over
the 1,883,300 sq. ft. that was shipped during the same period last year.
In addition, it was higher than any of the individual four quarters in
Fiscal 2007 (Jul 07 - Jun 08). Residential Roof Deck sales were higher by
67% (524,700 sq. ft. vs. 314,700 sq. ft. in Q1 Fiscal 08). Quarterly
Commercial Modular shipments were about equal year over year at 1,545,000
sq. ft. vs. 1,550,700 sq. ft. Shipments into the Structural Insulated
Panel market for the quarter were 35,800 sq. ft. vs. 17,900 sq. ft. in the
prior year.
Shipment volumes for the month ending September 30, 2008 were 604,300 sq.
ft. This compares to the 696,100 sq. ft. shipped during the same period
one year ago. Commercial Modular shipments were 547,200 sq. ft. vs.
584,600 sq. ft. shipped during September 2007. Shipments into the
Residential Roof Deck Market for the month were 53,000 sq. ft. vs. 111,500
sq. ft., and 4,100 sq. ft. was shipped into the Structural Insulated Panel
Market.
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