‘Press Release’ Category

TEMPE, AZ, Sep 15, 2014 (Marketwired via COMTEX) — VirTra Systems (pinksheets:VTSI), a leading provider of use of force training and shooting simulators to military, law enforcement agencies and other organizations, today announced the Company generated a record amount of sales orders in the month of August.

These purchases were made by a variety of customers including municipalities at the city and county level, local and federal law enforcement, military, international, security and other private sector companies.

Jason Mulcahy, VirTra’s General Manager, stated, “Customers are demanding the most effective training possible regarding use of force scenarios. VirTra’s strong industry track record as an innovator and leader in realistic shooting simulators has been a key to our successful sales activities in posting the strongest August purchase orders in the history of our Company. We look forward to winning more new customers and expanding services and products to our existing clients in the future.” Read more…

Tempe, Arizona (August 15, 2014)VirTra Systems (OTC Pink: VTSI), a leading provider of firearms simulators to military, law enforcement agencies and other organizations, today announced the release of its 2014 second quarter financial statements.  The financial statements are available on VirTra’s website and here. Read more…

VirTra’s New and Enhanced Products Receive Factory Acceptance Tests Approval from International Customer

Tempe, Arizona (July 23, 2014)VirTra Systems (PINKSHEETS: VTSI), a leading provider of firearms simulators to military, law enforcement agencies and other organizations, today announced that it successfully passed all factory acceptance tests (FAT) for an international contract exceeding $2 million (announced April 2013). The testing was conducted by fifteen individuals from the international customer, who carefully verified the performance of hardware and software over a five day period at VirTra’s headquarters in Tempe, Arizona.

The success is a critical milestone as it represents the culmination of many man years of work by VirTra’s engineers and software developers resulting in a host of new capabilities. The new features both enhance VirTra’s current line of products as well as expand VirTra’s reach to a broader worldwide audience of customers who require a range of training capabilities. Read more…

Tempe, Arizona (May 15, 2014)VirTra Systems (OTC Pink: VTSI), a leading provider of firearms simulators to military, law enforcement agencies and other organizations, today announced the release of its unaudited 2014 first quarter financial statements.  The financial statements are available on VirTra’s website and here.

Financial Summary:

      • Net Sales were $2.0 million for the quarter ending March 31, 2014, a decrease of $0.5 million, or 20%, compared to the previous year’s first quarter sales of $2.5 million.  The decrease is consistent with the volatility between quarters.
      • Gross margin for the first quarter 2014 was 62% of Net Sales, compared to 70% last year. The drivers for the decrease are primarily due to timing of product shipments in the pipeline to customers and corresponding leverage of fixed overhead.
      • Sales, general and administrative (SG&A) expenses of $1.0 million in Q1 2014 decreased 20%, from $1.2 million in Q1 2013.  As a percent of revenue, SG&A was 50% for Q1 2014 compared to 48% in Q1 2013.
      • Income from operations were $0.2 million for the quarter ending March 31, 2014, a decrease of $0.3 million, compared to income from operations of $0.5 million in Q1 2013.
      • Throughout Q1 2014, the Company used $0.7 million in cash from operating activities by fulfilling orders secured by deposits.  Cash and cash equivalents were $1.6 million at the end of Q1 2014, down from $2.4 million at December 31, 2013.
      • The Company has no draw upon the line of credit as of March 31, 2014.

Bob Ferris, Chief Executive Officer of VirTra, commented, “The first quarter 2014 results of $2 million in sales and $238,000 of net income are positive and in-line with quarterly fluctuations. Our management team has worked extremely hard to position the Company for continued growth as an industry leader in firearms simulators.”

About VirTra Systems

VirTra is a global leading provider of the world’s most realistic and effective shooting simulators. VirTra is the higher standard in firearms training simulators, offering a variety of simulator platforms, powerful gas-powered recoil kits and the patented Threat-Fire™ simulated hostile return fire system. VirTra’s products provide the very best simulation training available for personnel that are entrusted with lethal force and critical missions. The Company’s common stock is not registered under the Securities Exchange Act of 1934 and the Company does not currently file periodic or other reports with the Securities and Exchange Commission.

www.VirTra.com

Forward-looking Statements

This news release includes certain information that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “proposed,” “planned,” “potential” and similar expressions, or are those, which, by their nature, refer to future events. All statements, other than statements of historical fact, included herein, including statements about VirTra’s beliefs and expectations, are forward-looking statements. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward- looking information. Although VirTra believes that such statements are reasonable, it can give no assurance that such forward-looking information will prove to be accurate. VirTra cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors. Accordingly, due to the risks, uncertainties and assumptions inherent in forward-looking information, readers and prospective investors in the Company’s securities should not place undue reliance on forward-looking information.  All forward-looking information contained in this press release is given as of the date hereof, is based upon the opinions and estimates of management and information available to management as at the date hereof and is subject to change. The Company assumes no obligation to revise or update forward-looking information to reflect new circumstances, whether as a result of new information, future events or otherwise, except as required by law.

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VirTra Reports Record 2013 Revenue and Earnings and Announces Date for Annual Shareholders’ Meeting

Tempe, Arizona (March 31, 2014)VirTra Systems (PINKSHEETS: VTSI), a leading provider of firearms simulators to military, law enforcement agencies and other organizations, today announced the release of its year end 2013 audited financial statements.  Included with the corporate financial statements for the year ended December 31, 2013, VirTra has released the report of its independent registered public accounting firm, Semple Marchal & Cooper, LLP.  The audited financial statements are available on VirTra’s website and here.

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