PRESS RELEASE

FOR IMMEDIATE RELEASE

CONTACT

InVitro International

Contact: W. Richard Ulmer

17751 Sky Park East, Suite G

(800) 2-INVITRO

Irvine, CA 92614

http://www.invitrointl.com


INVITRO INTERNATIONAL RECORDS HEALTHY FY 2008 SALES & PROFIT RESULTS


Irvine, CA January 13, 2009 - Today InVitro International (OTC, Pink Sheets, IVRO) reported FY 2008 sales of $696,560 and net profits of $67,431. These results followed FY 2007 sales of $741,714 and profits of $69,273.  IVRO CEO & President, W. Richard Ulmer, observed: "Although FY 2008 sales were 6% lower than those of '07, we feel that comparison does not reflect much of our true progress in the last year.  For example, we had significant yearend  sales activity which carried over to make the first Quarter FY 2009 our best first Quarter since 1996. In additional significant FY 2008 activity, InVitro and our European partner (ResPharma) completed the preparation, review, and submission of our Irritection Assay System (Ocular) formal European Regulatory package at the very end of the year. And importantly, InVitro continued its increased Research & Development spending while also increasing operating margins. In summary, FY 2008 added to our level of excitement about our competitive position as well as the future of invitro testing throughout the world."

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


2008

2007

2008

2007

Revenues

213,386

244,979

696,561

741,714

Costs and expenses

200,493

236,697

640,362

680,310

Income (loss) from operations

12,892

8,282

56,199

61,404

Other income (loss)

2,310

1,938

8,948

7,869

Net profit (loss)

15,203

10,220

65,147

69,273

Profit (loss) per common share

0.001

0.001

0.004

0.004

Weighted average common
shares outstanding

16,824,809

16,824,809

16,824,809

16,824,809



CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 

September 30, 2008

September 30, 2007

Cash, cash equivalents and marketable securities

332,665

270,868

Other current assets



201,949

178,636

Total current assets



534,614

449,504

Noncurrent assets



47,814

53,369

Total assets



582,428

502,873

Current liabilities



74,371

62,245

Shareholders' equity



508,057

440,628

Total liabilities and equity



582,428

502,873


# # #

InVitro International
17751 Sky Park East, Suite G
Irvine, CA 92614

800-2-INVITRO (800-246-8487)
949-851-8356 (International callers)
949- 851-4985 Fax

invitro@invitrointl.com

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