InVitro International Reports Positive First Half and Second Quarter FY '24 Results; Also Planning an OTC Markets Uplisting
InVitro International reported positive second quarter FY '24 results with sales of $210,615, up 5.8% from the same period in FY '23, and net income of $47,674. First half FY '24 sales increased 3.4% to $422,240, with a net income of $65,342 compared to losses in FY '23. The company is planning an uplisting to OTCQB to enhance visibility and credibility with potential M&A targets.
Sales for second quarter FY '24 increased by 5.8% to $210,615 compared to the same period in FY '23.
Net income in the second quarter reached $47,674, a significant improvement from losses in FY '23.
First half FY '24 sales rose by 3.4% to $422,240, showing a positive trend for the company.
First half net income of $65,342 marked a substantial increase compared to losses in the first half of FY '23.
InVitro International plans to uplist to OTCQB, aiming to boost visibility and credibility with potential M&A targets.
- None.
Placentia, California--(Newsfile Corp. - May 2, 2024) - Today, InVitro International (OTC Pink: IVRO), announced second quarter FY '24 sales of
CEO & President W. Richard Ulmer said: "At IVRO we believe we see signs of general economic recovery and increased enthusiasm for NON-Animal testing outside as well as within the U.S. Canada's recent banning of the introduction of new cosmetics unless they've been in vitro tested was certainly helpful. Our buoyed confidence, top quality financial practices, and improved earnings now lead us to apply for "uplisting" to OTCQB. There we believe there is potential for increased visibility and credibility with our potential M&A targets (privately owned testing laboratories) in the U.S. as well as overseas."
About InVitro International, Inc.
InVitro International, Inc., headquartered in Placentia, California, was founded in 1985 and is a customer and technology-driven provider of non-animal testing methods. The Company's testing technologies are designed to produce data regarding corrosivity and ocular/dermal irritation, which correlate with animal and human test results. IVRO's technology is commercialized globally through test kits and partner laboratory services.
This release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by forward looking statements. 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. The forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update such statements.
Company Contact:
W. Richard Ulmer
Chief Executive Officer and Chairman
(800)246-8487
invitro@invitrointl.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207708
FAQ
What were InVitro International's sales for the second quarter of FY '24?
What was InVitro International's net income in the second quarter of FY '24?
Is InVitro International planning any strategic moves after the positive results in FY '24?
