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INVITRO INTERNATIONAL POSTS FISCAL YEAR 2007 SOLID SALES GAIN & RECORD PROFITS

Invitro International
Contact: W. Richard Ulmer
17751 Sky Park East, Suite G
(800) 2-INVITRO
Irvine, CA 92614
http://www.invitrointl.com
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 America 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.



CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

Three months ended
September 30

Twelve months ended
September 30


2007


2006


2007


2006

Revenues

244,979

129,402

741,714

608,920

Costs and expenses

236,697

163,606

680,310

598,344

Income (loss) from operations

  8,282

(34,204)

61,404

10,576

Other income (loss)

1,938

2,070 

7,869

4,681

Net profit (loss)

10,220

(32,134)

69,273

15,257

Profit (loss) per common share

0.001

(0.002)

0.004

0.001

Weighted average common
shares outstanding

16,824,809

16,824,809

16,824,809

16,824,809

CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 

September 30, 2007

September 30, 2006

Cash, cash equivalents and marketable securities

270,868

226,023

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

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