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 REPORTS IMPORTANT

FY 2013 & Q1 FY 2014 REGULATORY PROGRESS, SMALL NET PROFITS



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


# # #

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

pink sheets quote
Stock Quote, Chart, News

 

 

Recent News
SEE PRESS RELEASES FOR MOST RECENT NEWS
 
Order Products Directly!

Purchase Corrositex Database Test Results Online!

 

 

Corrositex Instruction Manual

This manual is password Protected. Please contact InVitro International
in Irvine, CA. for a password.