InVitro International Sees Real Positives in Start to FY '24

Rhea-AI Summary

InVitro International (IVRO) reports a 1.1% increase in sales and a 157% rise in profits for the first Quarter FY '24 ending December 31, 2023. CEO W. Richard Ulmer aims for organic growth and M&A activities amidst economic challenges.

Placentia, California--(Newsfile Corp. - February 14, 2024) - Today, InVitro International (OTC Pink: IVRO), the 38-year-old pioneer developer and marketer of globally approved NON-Animal test technologies, announced first Quarter FY '24 sales ending December 31, 2023, of $211,625 up 1.1% vs. the same period in FY '23). Profits of $17,667 were ahead 157% vs. losses of $30,963 in FY' 23, same period. IVRO CEO and President, W. Richard Ulmer, stated: "It remains our intention to grow both organically and via M & A activity. To accomplish the latter, we must manage ourselves in a way that shows IVRO continuing as an attractive financial partner despite the challenging economic conditions in recent years. We believe our first FY '24 Quarter results are encouraging."

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/197560

FAQ

What were InVitro International's sales for the first Quarter FY '24?

InVitro International reported sales of $211,625 for the first Quarter FY '24 ending December 31, 2023.

How much did InVitro International's profits increase by in the same period?

InVitro International's profits increased by 157% to $17,667 compared to losses of $30,963 in the same period of FY '23.

What is the CEO's plan for InVitro International's growth?

CEO W. Richard Ulmer aims for organic growth and M&A activities to make IVRO an attractive financial partner despite recent economic challenges.

When did the first Quarter FY '24 end for InVitro International?

The first Quarter FY '24 for InVitro International ended on December 31, 2023.