InVitro Boosts Sales but Losses Persist

InVitro International Inc., crediting sales of its test for corrosive materials traveling across state and national borders, said it has boosted revenue this fiscal year, but the financially strapped company continued to post heavy losses.

The Irvine firm, which also makes kits to test the toxicity of drugs and cosmetics, had a $3.7-million loss, or 56 cents a share, for the fiscal year ending Sept. 30, compared to a $5.1-million loss for the prior fiscal year.

The company reported fiscal revenue of $1.8 million, an increase of 29% from revenue of $1.4 million the previous year. For the fourth quarter, the company lost $1.1 million, or 16 cents a share, compared to a loss of $1.5 million, or 29 cents a share, for the prior fourth quarter. Fourth-quarter revenue was $647,000, up 89% from revenue of $343,000 for last year.