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INVITRO INTERNATIONAL REPORTS RETURN TO INCREASED SALES & PROFITS IN FY 2011

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 18, 2012 – Today InVitro International (OTC, Pink Sheets, IVRO) reported FY 2011 sales of $796,673 and net profits of $34,091. These results when compared to FY 2010 are nearly $80,000 higher in sales and nearly $30,000 higher in net profits. IVRO CEO & President, W. Richard Ulmer, said: “FY 2011 sales of almost $800,000 were our highest in 15 years; we feel both pleased and gratified with the return to solid gains in sales and profits. Timing was very important to us as we continued heavy R&D spending on multi-laboratory European Regulatory testing. Although somewhat delayed, our goal remains submission and government acceptance of our more than 20 year old non-animal eye and skin irritation test technologies.”

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


2011


2010


2011


2010


Revenues


181,614


157,276


796,673


716,881


Costs and expenses


195,364


225,617


764,624


730,069


Income (loss) from operations


 (13,750)


  (68,342)


32,049


(13,188)


Other income (loss)


6,963


5,240


13,483


19,409


Net profit (loss)


(6,787)


(63,102)


45,532


6,221


Profit (loss) per common share


(0.0003)


(0.004)


0.0023


0.0001


Weighted average common
shares outstanding


19,689,658


17,824,809


19,689,658


17,824,809

CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 


September 30, 2011


September 30, 2010


Cash, cash equivalents and marketable securities


394,895


369,685


Other current assets


224,491


209,341


Total current assets


619,386


579,026


Noncurrent assets


56,689


52,801


Total assets


676,075


631,827


Current liabilities


51,395


59,188


Shareholders’ equity


624,680


572,639


Total liabilities and equity


676,075


631,827

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