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PRESS RELEASE
FOR IMMEDIATE
RELEASE
CONTACT
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Invitro International
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Contact: W. Richard Ulmer
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17751 Sky Park East, Suite G
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(800) 2-INVITRO
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Irvine, CA 92614
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http://www.invitrointl.com
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INVITRO INTERNATIONAL POSTS 4TH CONSECUTIVE
PROFITABLE QUARTER;
Full year ’99 sales up 16%, net profit at 9.4%
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Irvine,
CA January 27, 2000 -- InVitro International (OTC IVRO)
announced that its 4th quarter ended September 30, 1999
produced sales of $169,806 and net profits of $11,801. For
full fiscal year ’99, IVRO saw its audited sales reach
$648,517, up 16%; its annual profits of nearly $61,000 were
the first since the company went public in 1991. President
& CEO, W. Richard Ulmer, said "We were very pleased
that the 4th quarter was our top sales quarter
in the year; but perhaps just as rewarding were the increases
in both cash and new customers throughout the year. These
increases allowed us to meet or exceed each of our ’99
financial objectives. Now it is our challenge to make profit
a yearly habit!"
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CONDENSED CONSOLIDATED
STATEMENT OF OPERATIONS
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Three months ended
September 30
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Twelve months ended
September 30
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1999
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1998
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1999
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1998
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Revenues
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169,806
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152,517
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648,517
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560,091
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Costs and expenses
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153,599
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388,846
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600,513
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981,994
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Income (loss) from operations
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16,207
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(236,329)
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48,004
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(421,903)
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Other income (loss)
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(4,406)
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48,534
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12,880
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50,035
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Net income (loss)
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11,801
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(187,795)
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60,884
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(371,868)
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Income (loss) per common share
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0.0008
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(0.0133)
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0.0042
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(0.0262)
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Weighted average common
shares outstanding
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14,453,300
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14,169,968
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14,453,300
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14,169,968
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CONDENSED CONSOLIDATED
BALANCE SHEET
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September 30, 1999
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September 30, 1998
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Cash, cash equivalents and marketable securities
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104,593
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59,960
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Other current assets
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217,126
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268,571
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Total current assets
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321,719
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328,531
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Noncurrent assets
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202,249
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154,479
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Total assets
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523,968
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483,010
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Current liabilities
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34,930
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54,856
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Shareholders' equity
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489,038
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428,154
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Total liabilities and equity
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523,968
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483,010
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# # #
InVitro International
17751 Sky Park East, Suite G
Irvine, CA 92614
800-2-INVITRO (800-246-8487)
949-851-8356 (International callers)
949- 851-4985 Fax
invitro@invitrointl.com
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