SOURCE: VirTra Systems

VirTra Systems

November 15, 2010 11:58 ET

VirTra Posts Record Breaking Quarter With Highest Sales Levels in Company's History

TEMPE, AZ--(Marketwire - November 15, 2010) - Don Andrus, VirTra Systems' COO and President (PINKSHEETS: VTSI), today announced a record quarter for the fast growing firearms training simulator company based in Tempe, Arizona. VirTra Systems' revenue in the third quarter of 2010 was the highest in the company's history. Sales for the quarter were $2,020,553 -- a 65% increase over the prior year, which is an improvement of $796,963 for the quarter.

During the quarter, VirTra also finished moving into a state-of-the-art 38,000 sq. foot headquarters in Tempe, Arizona. The space will serve as VirTra's world headquarters and can accommodate significant growth. The company's ultra-realistic judgmental use of force and marksmanship firearms training systems are preferred by elite forces all over the world. New products are in development, one of which will be revealed for the first time at the I/ITSEC military simulation tradeshow in Orlando, Florida.

VirTra's expense rate was up slightly to 36.7% compared to 32.2% from 3rd quarter 2009. Net income grew from $456,303 to $470,674 for a 3.2% increase from last quarter as VirTra continues to invest back into the company for future growth. Net gain per share for the third quarter of 2010 was $.0025 compared to $.0027 per share in 3rd quarter 2009.

VirTra's cash was $72,764 as of September 30, 2010 compared to $259,780 as of September 30, 2009. Also, Shareholder equity increased to $8.29 million at the end of September 30, 2010 up nearly 2 million from $6.54 million as of September 30, 2009.

Don Andrus, COO and President of VirTra, said, "VirTra Systems will continue to execute their strategic imperatives while maintaining a tactically sound day-to-day operation. The continued hiring, training, and retention of the best talent available are ongoing priorities for our growing organization. VirTra Systems will also accept nothing less than 100% customer satisfaction in all segments of the business."

About VirTra Systems
The company produces the best-in-class firearm simulators for both law enforcement and military customers throughout the world. VirTra is the higher standard in simulation: from exceptional customer service to unparalleled technology like 360 degree HD training platforms and the Threat-Fire™ safe return fire system (patent pending). When training realism matters, military and law enforcement professionals consistently select VirTra's simulators to help save lives.
www.virtra.com.

One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. VirTra Systems urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Jed Wallace
    Street Relations, Inc.
    (310) 403-0559
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