Invitro International

The Irvine maker of product safety testing kits reported a profit of $18,155 for the first fiscal quarter, compared with a year-earlier loss of $57,421. Revenue for the quarter ended Dec. 31 increased 22% to $162,076 from $133,272.

The Irvine maker of testing products posted second-quarter profit of $5,905, down 34% from net income of $8,949 for the same period last year. Revenue for the quarter ended March 31 increased slightly to $168,761 from $168,126.

InVitro International, a floundering technical company, said it plans to merge with a foreign company that wants access to the U.S. stock market. Terms of the deal have yet to be decided, however. Irvine-based InVitro, a marketer of tests for hazardous substances and child-safety products, signed a letter of intent to merge with privately held Shenyang International Inc., a holding company whose primary operations are in northeastern China. InVitro trades on the Nasdaq Small Cap market.

Irvine-based InVitro International's synthetic skin test Corrositex has been approved by several U.S. regulatory agencies to replace rabbits in testing the safety of thousands of new chemicals. The agreement by the Environmental Protection Agency, the Occupational Safety and Health Administration, the Consumer Product Safety Commission and others marks the first time U.S. regulators jointly approved a full-scale replacement of an animal test.

InVitro International, an Irvine company that makes a chemical testing product, said Monday that William J. Fisher, its president and chief executive officer, has left to pursue other business interests. Fisher is the second high-level executive to leave the company recently. Laurie Hallwyler, vice president of marketing, announced her resignation earlier this month.

InVitro International: The Irvine maker of test kits posted a profit of $25,191 for the second fiscal quarter ended March 31, contrasted with a net loss of $36,000 for the second quarter of the prior fiscal year. Revenue increased 22% to $166,575 from $136,000.

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