Tempe, Arizona (May 15, 2013) — VirTra Systems (OTC Pink: VTSI), a leading provider of firearms training simulation systems to military, law enforcement agencies and other organizations, today reported unaudited financial results for its first quarter of 2013, ended March 31. The unaudited financial statements are available on VirTra’s website and here.
The Company posted first quarter revenue of $2.49 million along with a net income of $0.53 million. Last year’s first quarter revenue was $2.61 million and net income for that period totaled $0.25 million. Revenue is down slightly for the first quarter of this year by about 5 percent, due in part to timing of deliveries, while net income increased 115 percent.
VirTra’s cost of goods sold for the quarter was $0.75 million representing a 70 percent gross profit margin compared to 68 percent for the same quarter last year. VirTra’s profit margin does fluctuate from quarter-to-quarter and is influenced by a number of factors such as: revenue recognition, volume, vendor pricing, improved production methods and composition of customer orders. Read more…
VirTra and the Artemis Defense Institute are presenting a demonstration opportunity to showcase the V-300™ and the patent pending V-Range™ training simulators on June 5th and 6th from 9am to 4pm. The V-300™ is the highest standard for law enforcement training. Five screens and a 300-degree fully immersive training platform ensure each minute in the simulator translates into real-world skills. The V-Range™ MIL (Patent-Pending) is simply the very best virtual shooting range in the world. It is the most realistic and detailed simulation of a real indoor and/or outdoor shooting range.
Artemis Defense Insitute
11 Spectrum Pointe Drive
Lake Forest, CA 92630
Call Scott Holt at 480.968.1488 x 5064 to schedule your appointment today!
TEMPE, AZ, Apr 30, 2013 (Marketwired via COMTEX) — VirTra (pinksheets:VTSI), a leading provider of firearms training simulators to military, law enforcement agencies and other organizations, today announced the award of a contract valued at a minimum value of USD $2+ million for firearms simulators, simulated recoil weapons and accessories. The project is for an undisclosed and new international customer and destination for use by both police and military forces.
The project includes specially designed and highly advanced tetherless simulated recoil systems compatible with both VirTra’s V-100(TM) marksmanship simulator as well as VirTra’s V-180(TM) / V-300(TM) multi-screen ultra-realistic and effective training simulators. The systems will also include a next generation scenario debrief capability. A long list of other accessories and state-of-the-art capabilities are planned for the simulation training center.
The engineering, production and delivery are to occur in approximately 18 months or less.
Bob Ferris, Chief Executive Officer of VirTra, stated, “After more than two years of extensive demos and detailed industry research by the customer, VirTra is honored to be selected for this prestigious international project. This project represents the highest standard in marksmanship, use-of-force, and tactical simulation capabilities in the world. Once installed, this extensive training center will be an ideal location for full demonstrations of VirTra’s product capabilities to other agencies throughout the country.” Read more…
Tundra International is pleased to announce that it has entered into an exclusive partnership with Mr David Hammond, Barrister of 9 Bedford Row International Chambers, London to identify and develop new technology based training methods to test personnel on their knowledge and application of the Rules for the Use of Force and the ’100 Series Rules’ as it applies to the maritime security environment.
The 100 Series Rules, created by David Hammond, a UK Counsel and barrister-at-law who heads up the maritime practice at the International division of 9 Bedford Row Chambers (http://9bri.com/members/david-hammond), are intended to be a model set and example of best practice for maritime Rules for the Use of Force, and they are intended to compliment current industry RUF guidance, as well as supporting the requirements of ISO PAS 28007 as an international regulatory document. They are being developed for the use and benefit of the entire maritime industry with support and technical advice from international organisations such as the Security Association for the Maritime Industry (SAMI) and BIMCO, and are under-pinned by a thorough public international and criminal law legal review using an objective international law test of what is “reasonable and necessary” and “proportionate” when force is used in self-defence. See www.100seriesrules.com Read more…
We will be showcasing our V-300™ and V-Range™ simulators at The Milwaukee police department on April 8th-9th from 8am-5pm and at the St. Paul Police department April 11th-12th from 9am to 4pm. The V-300™ is the highest standard for law enforcement training. Five screens and a 300-degree fully immersive training platform ensure each minute in the simulator translates into real-world skills.