VirTra Posts 80% Growth and Profits in 1st Quarter 2009 Report
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TEMPE, Ariz.--(Business Wire)-- In spite of the current economy, one company continues to dramatically improve across the board. Bob Ferris, VirTra Systems' CEO and president (Pink Sheets:VTSI), today announced that VirTra had another record breaking quarter. VirTra Systems is best known for selling the world`s most effective and realistic firearm training systems (FATS) 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/otciq/ajax/showFinancialReportById.pdf?id=21222 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." About VirTra Systems The company produces the best-in-class firearms training simulators for both law enforcement and military customers throughout the world. VirTra is the higher standard in simulation: from exceptional customer service to unparalleled technology like 360 degree HD training platforms and the Threat-Fire safe return fire system (patent pending). When training realism matters, military and law enforcement professionals consistently select VirTra`s simulators to help save lives. www.virtra.com. Street Relations, Inc. Jed Wallace, 310-403-0559 jed@streetrelations.com Copyright Business Wire 2009
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