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INVITRO INTERNATIONAL POSTS FY ’05 PROFIT ON SOLID SALES GAIN

Irvine, CA February 6, 2006- InVitro International (OTC, Pink Sheets, IVRO) today reported a 12% sales gain for Fiscal Year ’05 vs. Fiscal Year ’04, to $671,068. IVRO also recorded net profit of $14,655 compared to a loss of $34,614 last year. IVRO President, W. Richard Ulmer said: “We felt very encouraged about our financial progress in ’05: sales reached their highest level in 8 years, and we earned a small profit while investing in new assay technology. Our non-animal testing methods are being more accepted globally because they’re faster, less expensive, easier to use, and can be kept on the shelf for later use when convenient. Meanwhile we continue to work for European Regulatory Acceptance well ahead of the 2009 marketing ban on new cosmetics if tested on animals.”

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

 


2005


2004


2005


2004


Revenues


183,477


125,811


671,068


596,123


Costs and expenses


216,569


167,835


660,463


632,298


Income (loss) from operations


(33,092)


(42,023)


10,605


(36,175)


Other income (loss)


997


9,677


4,050


1,561


Net profit (loss)


(32,095)


(32,346)


14,655


(34,614)


Profit (loss) per common share


(0.002)


(0.002)


0.001


(0.002)


Weighted average common
shares outstanding


16,824,809


15,836,562


16,824,809


15,836,562

 


CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 


September 30, 2005


September 30, 2004


Cash, cash equivalents and marketable securities


158,694


124,922


Other current assets

 

 


207,444


201,927


Total current assets

 

 


366,138


326,849


Noncurrent assets

 

 


38,881


38,596


Total assets

 

 


405,019


365,445


Current liabilities

 

 


48,921


24,002


Shareholders’ equity

 

 


356,098


341,443


Total liabilities and equity

 

 


405,019


365,445

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