Exhibit 99.1



           Innovex Provides Preliminary Fiscal 2005 Operating Results


     MAPLE PLAIN, Minn.--(BUSINESS WIRE)--Oct. 11, 2005--Innovex (Nasdaq:INVX)
today announced select preliminary, unaudited results for its fourth quarter
ending September 30, 2005. Based upon preliminary, unaudited information, the
Company expects revenue for its fiscal fourth quarter ending September 30, 2005
to be between $47 and $48 million, up from $37 million reported in the fiscal
2004 fourth quarter ended September 30, 2004 and down from the $60 million
reported in the fiscal 2005 third quarter ended June 30, 2005. Fiscal 2005
fourth quarter revenue is also expected to be lower than the previous guidance
of $55 to $59 million for the quarter. Revenue excluding pass-through material
is expected to be between $25 and $26 million for the fiscal 2005 fourth quarter
compared to $29 million in the fiscal 2005 third quarter. Revenue excluding
pass-through material will be approximately 5% below the low end of the
Company's guidance for the quarter.
     The primary cause of the lower than expected revenue was soft Flex
Suspension Assembly (FSA) demand in the quarter. The gross margin for the
quarter ending September 30, 2005 is expected to be approximately 9%, compared
to 7.5% for the fiscal 2004 fourth quarter and 9.0% for the fiscal 2005 third
quarter. Operating expenses for the fiscal 2005 fourth quarter are expected to
be over 10 percent lower than the $6.1 million reported in the fiscal 2005 third
quarter primarily as a result of lower payroll expenses related to restructuring
changes and lower royalties related to FSA revenue.
     "Hard disk drive demand in the month of September did not increase as
expected," commented William P. Murnane, Innovex's President and Chief Executive
Officer. "Given our historical experience and customer forecasts, we anticipated
much stronger demand in September, which never materialized. In spite of the
lower revenue, we were pleased with our ability to control costs and maintain a
gross margin that was relatively flat with the preceding quarter."
     The Company expects revenue, revenue excluding pass-through and gross
margins to improve sequentially in the December quarter.

     About Innovex, Inc.

     Innovex, Inc. is a leading manufacturer of high-density flexible
circuit-based electronic interconnect solutions. Innovex's products enable the
miniaturization and increasing functionality of high technology electronic
devices. Applications for Innovex's products include data storage devices such
as hard disk drives and tape drives, liquid crystal displays for mobile
telecommunication devices, flat panel displays and printers. Innovex is known
worldwide for its advanced technology and world class manufacturing.

     Safe Harbor for Forward Looking Statements

     Except for historical information contained herein, the matters discussed
in this release are forward looking statements that involve risks and
uncertainties, including the timely availability and acceptance of new products,
impact of restructuring charges, changes in product mix, the impact of
competitive products and pricing, effect of world-wide economic conditions on
flexible circuit demand, changes in manufacturing efficiencies, fluctuations in
financial results and other risks detailed from time to time in the Company's
reports filed with the Securities and Exchange Commission.


     CONTACT: Innovex, Inc., Maple Plain
              Tom Paulson or Douglas W.  Keller, 763-479-5300
              Facsimile: 763-479-5395
              Internet: http://www.innovexinc.com