SOURCE: VirTra Systems

May 11, 2011 09:35 ET

VirTra Systems Reports Record Quarter With a 206% Increase in Sales

TEMPE, AZ--(Marketwire - May 11, 2011) - Bob Ferris, VirTra Systems' (PINKSHEETS: VTSI) CEO, today announced record setting financial results for the first quarter of 2011.

The first quarter of 2011 recorded the highest revenue for a first quarter in the history of the company. $2,193,790 in sales for the quarter is a 206% improvement over last year's first quarter results (a $1,477,119 increase).

Costs were kept inline while building the infrastructure to handle continued gross revenue growth. The company is also investing in the development of new scenarios and marksmanship drills, enhanced software, and other new product advancements.

Listed below is a summary of the last four quarters compared to the same quarter of the previous year:

QuarterGross RevenueRevenue Growth
2nd Quarter 2010$1.5 m+ 57%
3rd Quarter 2010$2.0 m+ 65%
4th Quarter 2010$2.3 m+ 56%
1st Quarter 2011$2.2 m+ 206%

Net income from operations for the quarter grew from a small loss of $32,620 in 2010 to a profit of $337,092 for the first quarter 2011 (a $369,712 increase).

Net gain per share for the first quarter of 2011 was $.0021 compared to $.0002 per share in first quarter 2010.

VirTra's cash position improved to $1,034,590 as of March 31, 2011 -- compared to $292,329 as of March 31, 2010, and shareholder's equity jumped over $1.7 million to $9.13 million at first quarter 2011, up from $7.40 million as of March 31, 2010.

For the full report click here.

About VirTra Systems
VirTra Systems, Inc. offers the world's most realistic firearms training simulators for Military and Law Enforcement customers around the globe. VirTra is the highest standard in simulation, offering a full range of the finest firearms training systems to fit any budget, the world's best simulated recoil systems, and the ability to add and measure real stress during training with the Threat-Fire™ return fire system (patent pending).
www.virtra.com.

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 and the VirTra logo are trademarks of VirTra Systems, Inc.

Contact Information

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