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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 REPORTS RETURN TO
INCREASED SALES & PROFITS IN FY 2011
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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. |
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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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2011 |
2010 |
2011 |
2010 |
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Revenues |
181,614 |
157,276 |
796,673 |
716,881 |
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Costs and expenses |
195,364 |
225,617 |
764,624 |
730,069 |
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Income (loss) from operations |
(13,750) |
(68,342) |
32,049 |
(13,188) |
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Other income (loss) |
6,963 |
5,240 |
2,042 |
19,409 |
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Net profit (loss) |
(6,787) |
(63,102) |
34,091 |
6,221 |
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Profit (loss) per common share |
(0.0003) |
(0.004) |
0.002 |
0.0001 |
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Weighted average common
shares outstanding |
19,689,658 |
17,824,809 |
19,689,658 |
17,824,809 |
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|
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CONDENSED CONSOLIDATED BALANCE SHEET
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|
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September 30, 2011 |
September 30, 2010 |
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Cash, cash equivalents and marketable securities |
394,895 |
369,685 |
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Other current assets |
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224,491 |
209,341 |
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Total current assets |
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619,386 |
579,026 |
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Noncurrent assets |
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56,689 |
52,801 |
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Total assets |
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676,075 |
631,827 |
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Current liabilities |
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51,395 |
59,188 |
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Shareholders' equity |
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|
624,680 |
572,639 |
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Total liabilities and equity |
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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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