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 REPORTS RETURN TO
INCREASED SALES & PROFITS IN FY 2011



Irvine, CA January 18, 2012 - Today InVitro International (OTC, Pink Sheets, IVRO) reported FY 2011 sales of $796,673 and net profits of $34,091. These results when compared to FY 2010 are nearly $80,000 higher in sales and nearly $30,000 higher in net profits. IVRO CEO & President, W. Richard Ulmer, said: "FY 2011 sales of almost $800,000 were our highest in 15 years; we feel both pleased and gratified with the return to solid gains in sales and profits. Timing was very important to us as we continued heavy R&D spending on multi-laboratory European Regulatory testing. Although somewhat delayed, our goal remains submission and government acceptance of our more than 20 year old non-animal eye and skin irritation test 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.


CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS


Three months ended
September 30

Twelve months ended
September 30


2011

2010

2011

2010

Revenues

181,614

157,276

796,673

716,881

Costs and expenses

195,364

225,617

764,624

730,069

Income (loss) from operations

 (13,750)

  (68,342)

32,049

(13,188)

Other income (loss)

6,963

5,240

13,483

19,409

Net profit (loss)

(6,787)

(63,102)

45,532

6,221

Profit (loss) per common share

(0.0003)

(0.004)

0.0023

0.0001

Weighted average common
shares outstanding

19,689,658

17,824,809

19,689,658

17,824,809



CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 

September 30, 2011

September 30, 2010

Cash, cash equivalents and marketable securities

394,895

369,685

Other current assets



224,491

209,341

Total current assets



619,386

579,026

Noncurrent assets



56,689

52,801

Total assets



676,075

631,827

Current liabilities



51,395

59,188

Shareholders' equity



624,680

572,639

Total liabilities and equity



676,075

631,827


# # #

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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