Enter Our Monthly Contest!
 

 

PRESS RELEASE

FOR IMMEDIATE RELEASE

CONTACT

Invitro International

Contact: W. Richard Ulmer

17751 Sky Park East, Suite G

(800) 2-INVITRO

Irvine, CA 92614

http://www.invitrointl.com

 

INVITRO INTERNATIONAL'S 1st HALF FY 2001 PRODUCES
NET PROFIT VS. PRIOR YEAR LOSS;
Website Data Base Sales To Start Soon

     Irvine, CA May 1, 2001- InVitro International (OTC, IVRO) reported today that first six months sales results were $297,858, 11% under the same period in FY 2000. However, net profit for first half 2001 of $9,370 compared favorably to a net loss of $$95,249 a year ago. IVRO CEO & President, W. Richard Ulmer said:"We bounced back from a financially disappointing first fiscal quarter with second quarter sales results as strong as any since 1996. That allowed us to post a small net profit with increased prospects for a strong second half. Our cash remains strong; we're debt free; we've increased our advertising spend; and we just completed a program in China where we were invited to speak to nearly 50 prospect companies and a university, all of whom were interested in minimizing animal testing there."

In other company news, InVitro announced previously that Transport Canada has fully accepted Corrositex as a replacement for animal testing. This recent approval (Jan '01) combines well with the company's plans to expand its e-commerce capabilities by offering a significant portion of the Corrositex data base on its website. Each should help increase Corrositex global sales volume in the coming months.

This press release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: acceptance of the Company's technology by customers or regulatory agencies, changes in market conditions and other competitive factors. Any such forward-looking statements are not guarantees of future performance.

 

 

 

 


CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

 

Three months ended
March 31

Twelve months ended
March 31

 

2001

2000

2001

2000

Revenues

168,761

168,126

297,858

366,704

Costs and expenses

164,382

154,159

294,484

314,950

Income (loss) from operations

4,380

13,967

3,374

21,754

Other income (loss)

1,525

(5,018)

(5,996)

(117,003)

Net income (loss)

5,905

8,949

9,370

(95,249)

Income (loss) per common share

0.000

0.001

(0.006)

(0.007)

Weighted average common
shares outstanding

14,507,304

14,507,304

14,507,304

14,507,304

 


CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 

 

 

 

 

 

 

 

 

March 31, 2001

March 31, 2000

Cash, cash equivalents and marketable securities

165,212

177,106

Other current assets

 

 

237,652

199,686

Total current assets

 

 

402,864

376,792

Noncurrent assets

 

 

48,354

60,587

Total assets

 

 

451,218

437,379

Current liabilities

 

 

43,137

37,030

Shareholders' equity

 

 

408,082

400,349

Total liabilities and equity

 

 

451,218

437,379


# # #

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

pink sheets quote
Stock Quote, Chart, News

 

 

Recent News
 
Order Products Directly!

Purchase Corrositex Database Test Results Online!