News Feed Item

VirTra Reports Financial Results for Third Quarter 2012

TEMPE, AZ -- (Marketwire) -- 11/14/12 -- VirTra Systems (PINKSHEETS: VTSI), a leading provider of firearms training simulation systems to military, law enforcement agencies and other organizations, today reported unaudited financial results for its third quarter of 2012, ended September 30. The unaudited financial statements are available on VirTra's website and here.

During third quarter 2012 the company reported revenue of $1.42 million along with a net loss of $0.63 million. There were several factors that contributed to less revenue being recorded for the period and in turn the net loss. VirTra's revenue recognition methods require orders to be fully delivered prior to revenue being recognized and during the third quarter there were a number of product orders that were pre-delivery. Another factor attributable to lower revenue during the quarter was seasonality in sales. Through three quarters of the year VirTra has realized $6.96 million of revenue and $0.22 million of net income, which exceeds 2011 results on a pro rata basis.

VirTra's cost of goods sold for the quarter was $0.75 million representing a 47 percent gross profit margin. Year-to-date, the company's gross margin stands at 64 percent compared to 52 percent gross margin (audited) for the full year 2011 period. 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.

The company's general and administrative expenses during the third quarter of 2012 were $1.29 million. VirTra has continued to invest in the development of multiple new products and sales initiatives in order to promote long-term growth along with support and new scenario development for current customers.

Bob Ferris, VirTra's Chief Executive Officer, stated, "Although reported numbers for the quarter did not meet our internal objectives due to a variety of factors, we are optimistic that our current sales pipeline will yield positive results in the near term. We also believe that the investments we have made will benefit shareholders and generate profitable growth into the future."

About VirTra Systems

VirTra is a global leading provider of the world's most realistic and effective small arms 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.


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.

Investor Relations Counsel
Rudy R. Miller
Chairman, President & CEO
The Miller Group
tel: 602.225.0505
email: [email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial C...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
With privacy often voiced as the primary concern when using cloud based services, SyncriBox was designed to ensure that the software remains completely under the customer's control. Having both the source and destination files remain under the user?s control, there are no privacy or security issues. Since files are synchronized using Syncrify Server, no third party ever sees these files.
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
"We are an integrator of carrier ethernet and bandwidth to get people to connect to the cloud, to the SaaS providers, and the IaaS providers all on ethernet," explained Paul Mako, CEO & CTO of Massive Networks, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
I believe that this may finally be the year that the CIO role ‘crosses the Rubicon,' leaving behind its traditional, IT-focused orientation. But I don't believe that either of the previous predictions of this outcome — fading into oblivion or rising to a business executive level — is correct. Instead, I think this is the year that we will see the role of the CIO transformed into something altogether different.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
"Calligo is a cloud service provider with data privacy at the heart of what we do. We are a typical Infrastructure as a Service cloud provider but it's been designed around data privacy," explained Julian Box, CEO and co-founder of Calligo, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"NetApp is known as a data management leader but we do a lot more than just data management on-prem with the data centers of our customers. We're also big in the hybrid cloud," explained Wes Talbert, Principal Architect at NetApp, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.