Tempe, Arizona (November 15, 2013) — VirTra Systems (OTC Pink: VTSI), a leading provider of firearms simulators to military, law enforcement agencies and other organizations, today reported unaudited financial results for its third quarter of 2013, ended September 30. The unaudited financial statements are available on VirTra’s website and here.
Tempe, Arizona (August 15, 2013) — VirTra Systems (OTC Pink: VTSI), a leading provider of firearms simulators to military, law enforcement agencies and other organizations, today reported unaudited financial results for its second quarter of 2013, ended June 30. The unaudited financial statements are available on VirTra’s website and here.
During the second quarter 2013, VirTra received a record amount of purchase orders totaling $5.33 million. Some of these sales orders require customization and reaching milestones over the course of many months. VirTra expects to recognize the majority of the revenue from these projects in the future.
The Company posted second quarter revenue of $1.57 million along with a net loss of $0.13 million. For the first two quarters of 2013, revenue was $4.06 million and net income was $ 0.40 million. The lower second quarter revenue is due largely to the fact the Company commenced some large projects during the quarter, but the dollars are not yet recognized as revenue. Read more…
Tempe, Arizona (July 9, 2013) — VirTra (OTC Pink: VTSI), a leading provider of firearms training simulators to military, law enforcement and other organizations, today announced the sale and installation of a V-300™ to the Vallejo Police Department. The simulator is housed at the Art Koch Range and Training Center in Fairfield, California.
In addition to procuring the VirTra simulator, the Vallejo Police, in partnership with VirTra and the Fairfield Police Department, is hosting a Regional Training Demonstration of their newly installed VirTra equipment. Demonstrations of the V-300™ will be held on July 22nd and 23rd between 9:00 AM and 4:00 PM PDT and are open to Law Enforcement Agencies as well as Educational Institutions in Northern California.
The Fairfield Police Department and Training Division commented, “The Fairfield Police Department has always been serious about officer training. With the addition of the VirTra 300-degree Force-Option Simulator to our training facility, we are best positioned to maintain the high level of training our officers expect and our citizens deserve.” Read more…
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…
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…