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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 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.
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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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2004
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2003
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2004
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2003
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Revenues
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125,811
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173,580
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596,123
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571,512
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Costs and expenses
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167,8351
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152,691
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632,298
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563,743
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Income (loss) from operations
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(42,023)
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20,889
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(36,175)
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7,769
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Other income (loss)
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9,677
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1,170
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1,561
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3,245
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Net profit (loss)
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(32,346)
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22,059
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(34,614)
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11,014
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Profit (loss) per common share
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(0.002)
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(0.001)
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(0.002)
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(0.001)
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Weighted average common
shares outstanding
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15,836,562
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15,255,059
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15,836,562
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15,255,059
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CONDENSED CONSOLIDATED BALANCE SHEET
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September 30, 2004
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September 30, 2003
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Cash, cash equivalents and marketable securities
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124,922
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148,274
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Other current assets
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201,927
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199,895
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Total current assets
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326,849
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348,169
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Noncurrent assets
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38,596
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50,244
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Total assets
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365,445
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398,413
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Current liabilities
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24,002
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37,359
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Shareholders' equity
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341,443
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361,057
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Total liabilities and equity
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365,445
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398,413
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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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