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INVITRO INTERNATIONAL REPORTS IMPORTANT

FY 2013 & Q1 FY 2014 REGULATORY PROGRESS, SMALL NET 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 January 22, 2014 – Today InVitro International (OTC, Pink Sheets, IVRO) reported FY 2013 sales of $712,121 and net income of $10,832. When compared to FY 2012 sales and income figures, sales were off 2.4% while net income was up 430%.

IVRO CEO & President, W. Richard Ulmer, said “Despite our small net profit, and slight sales decline, we believe FY 2013 will prove to be a significant year among InVitro International’s first 28. I say this because we reviewed and assembled test data from our international, three year, three laboratory, more than five hundred end point results validation study. This required study was designed in collaboration with the European Center for the Validation of Alternative Methods, (ECVAM). Results not only met our expectations, but in some ways exceeded them. Therefore in Q1 FY 2014 we submitted our application. We now await ECVAM Peer Review response with a great level of enthusiasm”.

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


2013


2012


2013


2012


Revenues


192,896


172,260


712,121


729,780


Costs and expenses


170,547


221,284


721,572


731,791


Income (loss) from operations


 22,349


  (49,024)


(9,451)


(2,011)


Other income (loss)


3,571


(4,955)


20,283


4,051


Net profit (loss)


25,920


(53,979)


10,832


2,040


Other Comprehensive Income


– 


–  


(16,630)


18,282


Comprehensive Income


25,920


(53,979)


(5,798)


20,322


Profit (loss) per common share


0.0012


(0.0025)


0.0005


0.0001


Weighted average common
shares outstanding


21,820,072


21,565,346


21,820,072


21,565,346

CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 


September 30, 2013


September 30, 2012


Cash, cash equivalents and marketable securities


431,115


442,573


Other current assets


231,772


223,682


Total current assets


662,887


666,255


Noncurrent assets


44,837


50,265


Total assets


707,724


716,520


Current liabilities


66,320


70,143


Shareholders’ equity


641,404


646,377


Total liabilities and equity


707,724


716,520

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