PRESS RELEASE

FOR IMMEDIATE RELEASE

CONTACT

InVitro International

Contact: W. Richard Ulmer

330 E. Orangethorpe Ave. Ste. D

(800) 246-8487

Placentia, CA 92870

http://www.invitrointl.com


 

INVITRO INTERNATIONAL REPORTS OUTSTANDING FY 2015 FINANCIAL RESULTS, AND CORE TECHNOLOGY REGULATORY PROGRESS



Placentia, CA February 2, 2016 - Today InVitro International (OTC, Pink Sheets, IVRO) reported audited FY 2015 sales of $994,713, up 45% from FY 2014 comparable period. Net income leapt 774% to $232,100 and cash increased 69%

IVRO CEO & President, W. Richard Ulmer, said "The confluence of several positives in our FY 2015 business made this a special year for our company. First, official U.S. Regulatory implementation of the Global Harmonization System (GHS) continued to benefit our Corrositex test technology here and in Europe. Additionally for the first time, Ocular Irritection sales were positively impacted by GHS acceptance in Europe’s REACH program, which over several years will be re-classifying all chemicals used there. Next, our 2014 company relocation along with several new cost saving measures provided important cash growth in 2015. So now looking forward, we believe the pieces will be in place to support promotion of Ocular Irritection should it receive full OECD Regulatory adoption in the near future. Our submission continues to make solid progress in its regulatory review.”

“At InVitro we feel we are moving ever closer to our major goal of corporate sustainability. The 2015 audited financial statements support this feeling and demonstrate the impact of InVitro’s Quasi Reorganization. Because we met the required five consecutive years of profitability, effective October 2014, U.S. Generally Accepted Accounting Principles (GAAP) permitted elimination of accumulated IVRO historical operating losses; thus InVitro achieved a new financial reporting status. As we begin a new year, we remain a dedicated, determined and disciplined team in pursuit of both company and shareholder goals.”


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


2015

2014

2015

2014

Revenues

262,302

200,173

994,714

686,118

Costs and expenses

245,296

193,008

768,531

667,865

Income (loss) from operations

 17,006

  7,165

226,183

18,253

Other income (loss)

(2,467)

3,834

5,917

8,933

Net profit (loss)

14,540

10,999

232,100

27,186

Other Comprehensive Income


-  

(11,110)

996

Comprehensive Income

14,540

10,999

220,990

28,182

Profit (loss) per common share

0.001

0.001

0.011

0.001

Weighted average common
shares outstanding

21,953,976

21,866,853

21,953,976

21,886,853



CONDENSED CONSOLIDATED BALANCE SHEET

 

 

 

September 30, 2015

September 30, 2014

Cash, cash equivalents and marketable securities

650,561

431,763

Other current assets



255,182

223,677

Total current assets



905,743

655,440

Noncurrent assets



65,563

76,400

Total assets



971,306

731,840

Current liabilities



80,230

61,754

Shareholders' equity



891,076

670,086

Total liabilities and equity



971,306

731,840


# # #

InVitro International

330 E. Orangethorpe Ave., Ste. D 
Placentia, CA 92870

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

invitro@invitrointl.com

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