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PRESS RELEASE
FOR IMMEDIATE RELEASE
CONTACT
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InVitro International |
Contact: W. Richard Ulmer |
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17751 Sky Park East, Suite G |
(800) 2-INVITRO |
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Irvine, CA 92614 |
http://www.invitrointl.com |
INVITRO INTERNATIONAL FY 2009 SALES REACH HIGHEST LEVEL IN 12 YEARS
Irvine, CA January 13, 2010 - Today InVitro International (OTC, Pink Sheets, IVRO) reported FY 2009 sales of $755,513 and net profits of $50,859. These results when compared to FY 2008 were up 8.5% in sales, and 26% lower in profits. IVRO CEO & President, W. Richard Ulmer, summarized the year by saying: "We were very pleased to show a solid sales increase given the conditions of the U.S. and global economies. Such progress, we believe, reflects the increases in non-animal testing in general and more specifically acceptance of our InVitro International offerings. Furthermore, such gains allow us to continue our increased R&D and Regulatory spending. We made good progress in 2009 with our European regulatory submission and acknowledge with much gratitude the contribution made by our partner, ResPharma, in Italy. We remain optimistic regarding both our current and the future acceptance of our now 25 year old company technologies".
This 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 |
Twelve months ended
September 30 |
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2009 |
2008 |
2009 |
2008 |
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Revenues |
215,900 |
213,386 |
755,513 |
696,560 |
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Costs and expenses |
237,087 |
200,493 |
713,082 |
640,359 |
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Income (loss) from operations |
(21,187) |
12,892 |
42,431 |
56,201 |
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Other income (loss) |
2,698 |
2,310 |
8,428 |
11,230 |
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Net profit (loss) |
(18,489) |
15,203 |
50,859 |
67,431 |
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Profit (loss) per common share |
(0.001) |
0.001 |
0.003 |
0.004 |
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Weighted average common
shares outstanding |
16,885,803 |
16,824,809 |
16,885,083 |
16,824,809 |
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CONDENSED CONSOLIDATED BALANCE SHEET
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September 30, 2009 |
September 30, 2008 |
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Cash, cash equivalents and marketable securities |
360,660 |
332,665 |
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Other current assets |
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204,837 |
201,949 |
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Total current assets |
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565,497 |
534,614 |
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Noncurrent assets |
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52,886 |
47,814 |
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Total assets |
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618,383 |
582,428 |
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Current liabilities |
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51,965 |
74,371 |
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Shareholders' equity |
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566,418 |
508,057 |
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Total liabilities and equity |
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618,383 |
582,428 |
# # #
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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