TEMPE, AZ – May 27, 20009 – In spite of the current economy, one company continues to dramatically improve across the board. Bob Ferris, VirTra Systems’ CEO and president (OTC:VTSI.PK), today announced that VirTra had another record breaking quarter. VirTra System’s is best known for selling the world’s most effective and realistic firearm training systems to both law enforcement and military organizations throughout the world. With today’s announcement, VirTra has now posted four consecutive profitable quarters since new management took control approximately 1 year ago.
For the quarter ending March 31, 2009, gross revenue grew 80.6% from $522,165 (in first quarter 2008) to $942,957, due to an overall increase in sales activity.
Net income from operations increased from a loss of ($291,344) for 1st quarter 2008 to a gain of $235,097 for first quarter 2009, this is an increase in operating profit of $526,441.
Net gain per share for the first quarter of 2009 was a profit of $.0016 versus a loss of ($.004) per share in 2008.
Overall, VirTra has made significant improvements in financial performance as compared to first quarter 2008. For quarter ended March 31, 2009, net income is $218,275 compared with a loss of ($518,221) during Q1 2008. Net income improved a remarkable $736,496 in first quarter 2009 as compared with first quarter 2008.
To access the full financial report: http://www.pinksheets.com…
Bob Ferris, CEO and president of VirTra, said, “The fantastic first quarter results are an amazing feat for any company; however, 80% growth has exceeded all expectations. We are a very blessed company, with the right employees, the right products, the right customers and the right markets.”
