BOSTON, June 2, 2011 (GLOBE NEWSWIRE) -- Converted Organics Inc. (Nasdaq:COIN) announced today that sales of its all-natural, organic liquid fertilizer products for the two months of April and May, 2011 increased 14% over sales for the same period in the prior year. Year-to-date sales of Converted Organics liquid fertilizer have increased 4% compared to same period sales in 2010.
"The sales increase is the result of the increasing recognition nationwide concerning the efficacy of organic fertilizer products in agriculture, and to the growing number of new markets that we have established this year. Through various research trials being conducted on new crops and in new geographic regions, we've been able to open up new markets for the sale of our organic liquid fertilizers," said Edward J. Gildea, President and CEO of Converted Organics. Gildea continued, "Our continued sales growth is a reflection of the strength of our line of fertilizer products and the positive results that growers are reporting regarding the effectiveness of our products. We're seeing an increasing demand for our high quality organic fertilizer products and this should allow our Company to continue to have record sales levels of our organic fertilizers in 2011."
About Converted Organics
Converted Organics' (Nasdaq:COIN) mission is to promote, develop and operate profitable, innovative, clean technologies that contribute to the improvement of our environment by use of sustainable business practices and the judicious use of natural resources. Converted Organics Inc. is currently composed of three primary lines of business at the intersection of Agriculture, Water and Waste Recycling. Each business contributes to our mission and uses sustainable business practices that protect and value the environment. The three lines of business are Organic Fertilizer (Converted Organics), Vertical Farming (TerraSphere Systems - www.terraspheresystems.com ), and Industrial Wastewater Treatment (Industrial Wastewater Resources).
The Converted Organics Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7431
This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. Forward-looking statements include the ongoing customer demand for the Company's products and the Company's ability to continue to become more efficient in its operations. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors described in the "Risk Factors" section in the Company's most recently filed annual report on Form 10-K, as updated in the Company's quarterly reports on Form 10-Q filed since the annual report, not all of which are known to the Company. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these statements. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.
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CONTACT: Investor Contacts: George McIntyre, 212-732-4300 CEOcast, Inc. Gmcintyre@ceocast.com or Jim Blackman, 713-256-0369 PR Financial Marketing jim@prfmonline.com or Converted Organics Inc. investor@convertedorganics.com 617-624-0111
