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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 SALES ADVANCE MODESTLY
BUT FY '04 LOSSES DISAPPOINT


Irvine, CA February 2, 2005 - InVitro International (OTC, Pink Sheets, IVRO) today reported a 4% annual sales gain ('04 vs.'03) to $596,123, and a net loss of $34,614 compared to profit of $11,014 in '03. IVRO President, W. Richard Ulmer said: "We are disappointed that InVitro could not generate revenue gains large enough to cover the added costs associated with our physical relocation last year. This was a very difficult year for InVitro, and it's people. However, a bright spot was our partnership with INT.E.G.RA, and it's parent organization, Res Pharma, in Europe. As always, we will work toward better company results in the upcoming year.

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
September 30

Twelve months ended
September 30

 

2004

2003

2004

2003

Revenues

125,811

173,580

596,123

571,512

Costs and expenses

167,8351

152,691

632,298

563,743

Income (loss) from operations

(42,023)

20,889

(36,175)

7,769

Other income (loss)

9,677

1,170

1,561

3,245

Net profit (loss)

(32,346)

22,059

(34,614)

11,014

Profit (loss) per common share

(0.002)

(0.001)

(0.002)

(0.001)

Weighted average common
shares outstanding

15,836,562

15,255,059

15,836,562

15,255,059

 


CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 

September 30, 2004

September 30, 2003

Cash, cash equivalents and marketable securities

124,922

148,274

Other current assets

 

 

201,927

199,895

Total current assets

 

 

326,849

348,169

Noncurrent assets

 

 

38,596

50,244

Total assets

 

 

365,445

398,413

Current liabilities

 

 

24,002

37,359

Shareholders' equity

 

 

341,443

361,057

Total liabilities and equity

 

 

365,445

398,413


# # #

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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