Losses at Itronics decline in 2002

Reno-based Itronics Inc.

lost $2.58 million on revenues of $1.28 million in 2002.

This compares with an operating loss of $2.99 million on revenues of $1.14 million a year earlier.

The company, which is publicly held, converts wastes from photochemical processes into lawn and garden fertilizer.

It also provides mining technical services.

The company said the photochemical unit lost $2.25 million during the year, while the mining services unit lost $338,483.

In a filing with the Securities and Exchange Commission last week, Itronics said its cash position is very tight but creditors continue to work with it.