Converted Organics (NASDAQ: COIN) $35M (MarketCap) Reports 90% Increase in Sales

Converted Organics (NASDAQ: COIN) is a producer of all-natural, organic fertilizer and soil amendment products combining disease suppression and nutrition characteristics from food waste and other raw materials. The company sells and distributes its products in agribusiness, turf management, and retail markets that include Home Depot and Whole Food locations. On May 24th, it announced 80% sales growth for the first quarter of 2010. Yesterday, Coin received OMRI certification for its Converted Organics 8-1-4(TM) and Converted Organics 4-1-8(TM) all natural, granular organic fertilizers. The company expects this certification to both allow them to sell products into the agricultural market for certified organic crop production and to help drive consumer market growth through inclusion in organic labeling programs.

Today, the company announced a continued growth in sales of its products to $1.85 million from January 1- May 31, 2010, an increase of 90% over the same period in 2009. This year-over-year sales growth is largely attributable to continued increase in customer demand for organic fertilizer programs that reduce both the environmental and health risks associated with synthetic, chemical-based fertilizer products. Its stock is currently trading at .8583, up .0283 or 3.41%.

"The growth in our fertilizer business is a direct result of increased recognition of our products as a safe, natural, effective way to improve crop yields while lowering costs," commented David Flannery, Converted Organics' Vice President of Marketing. "During the past several months, we have seen a significant increase in interest across each of our primary target markets -- major growers, specialty agricultural retailers, professional lawn care providers and consumers -- which speaks not only to the quality of our products, but to the success of our targeted marketing program."