Invitro International
Contact: W. Richard Ulmer
17751 Sky Park East, Suite G
(800) 2-INVITRO
Irvine, CA 92614
Irvine, CA December 10, 2007 – InVitro International (OTC, Pink Sheets, IVRO) today reported Fiscal Year 2007 sales of $741,714 and net profits of $69,273. These results compare to Fiscal Year 2006 sales of $608,920 and profits of $15,387, respectively. IVRO President/CEO, W. Richard Ulmer, said: “We are delighted to report our highest company sales since 1996, an advance of 21% over the prior year; an all time high in profits, as well as profits for the 4th year in our last five; a near doubling of sales in Latin Americal to more than 12% of company sales; approximately a two-thirds increase in European sales, sparked in great part by our wonderful investing Italian partner, ResPharma/INT.E.G.RA; and finally our U.S. sales advanced more than 18%. When we examine sales by technology, it was pleasing to see Irritection advance nearly 30% while Corrositex jumped 16% following its formal European acceptance published late in 2006. Similar Regulatory acceptance for Irritection is progressing per normal government review schedules.”
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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Three months ended |
Twelve months ended |
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2007 |
2006 |
2007 |
2006 |
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Revenues |
244,979 |
129,402 |
741,714 |
608,920 |
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Costs and expenses |
236,697 |
163,606 |
680,310 |
598,344 |
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Income (loss) from operations |
8,282 |
(34,204) |
61,404 |
10,576 |
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Other income (loss) |
1,938 |
2,070 |
7,869 |
4,681 |
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Net profit (loss) |
10,220 |
(32,134) |
69,273 |
15,257 |
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Profit (loss) per common share |
0.001 |
(0.002) |
0.004 |
0.001 |
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Weighted average common |
16,824,809 |
16,824,809 |
16,824,809 |
16,824,809 |
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CONDENSED CONSOLIDATED BALANCE SHEET |
|
|
|
September 30, 2007 |
September 30, 2006 |
Cash, cash equivalents and marketable securities |
270,868 |
226,023 |
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Other current assets |
|
|
178,636 |
148,437 |
Total current assets |
|
|
449,504 |
374,460 |
Noncurrent assets |
|
|
53,369 |
35,183 |
Total assets |
|
|
502,873 |
409,643 |
Current liabilities |
|
|
62,245 |
38,288 |
Shareholders’ equity |
|
|
440,628 |
371,355 |
Total liabilities and equity |
|
|
502,873 |
409,643 |