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 POSITIVE 
1ST QUARTER FY 2013 FOLLOWING FY 2012 DECLINE



Irvine, CA January 23, 2013 - Today InVitro International (OTC, Pink Sheets, IVRO) reported audited FY 2012 sales of $729,780 with net income of $2,040. These results when compared to FY 2011 were lower by 8.4% and 96% respectively.

IVRO CEO & President, W. Richard Ulmer, observed: "Although sales and profits were off in FY 2012, we are pleased to note our growth in cash and cash equivalents for the year, as well as the 10.5% uptick in 1st Quarter FY 2013 sales vs the same period last year. FY 2012 was the 3rd consecutive year of focus on our IrritectionTM Assay System Regulatory submission to the European Center For The Validation of Alternative Methods (ECVAM); we remain steadfast in our belief that pursuit of that acceptance is our best strategic direction. And there is good progress to report on this front as we've just recently completed the hundreds of tests in each of three domestic and international laboratories. Though much work is still before us, early results appear very encouraging for our 25+ year old ocular core non-animal testing technology."

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


2012

2011

2012

2011

Revenues

172,260

181,614

729,780

796,673

Costs and expenses

221,284

195,364

731,791

764,624

Income (loss) from operations

 (49,024)

  (13,750)

(2,011)

32,049

Other income (loss)

(4,955)

6,963

4,051

13,483

Net profit (loss)

(53,979)

(6,787)

2,040

45,532

Profit (loss) per common share

(0.0025)

(0.0003)

0.0001

0.0023

Weighted average common
shares outstanding

21,565,346

19,689,658

21,565,346

19,689,658



CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 

September 30, 2012

September 30, 2011

Cash, cash equivalents and marketable securities

442,573

394,895

Other current assets



273,947

224,491

Total current assets



716,520

619,386

Noncurrent assets



 

56,689

Total assets



716,520

676,075

Current liabilities



70,143

51,395

Shareholders' equity



646,377

624,680

Total liabilities and equity



716,520

676,075


# # #

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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