TEMPE, AZ
VirTra Systems, Inc. (VTSI.pk), today
announced its unaudited financial report for the second quarter 2008.
For the three-month period ending on June 30, 2008, revenue increased 29%
to $783,261; this marks a $178,063 jump in revenue from the same period in
2007.
The general and administrative costs for the second quarter totaled
$140,374, a significant decrease from the $516,444 recorded during the
same period in 2007. The principle reasons for the dramatic decrease were
due to the reduction in expenses due to the Company’s deregistration with
the SEC and the closing of our Houston, Texas office. VirTra posted a
second quarter operating profit of $272,274.
VirTra’s net profit for the second quarter was a record $1,063,634; a onetime,
$730,303 adjustment of the Dutchess liability had a significant impact
on net profit.
Net profit for the quarter was $.008 per share. The report can be found at:
http://www.virtra.com/cu_investor.html
“This quarterly report is the first data to show hard results from the new
management team. By increasing sales, reducing costs and reducing
liabilities, we were able to generate the highest quarterly net profit ever in
the company’s history. Our goal is to radically improve VirTra’s
performance quarter after quarter and it is wonderful to report the first
successful results of our strategy,” said Bob Ferris, President.
About VirTra Systems
For over 15 years VirTra Systems has been an industry leader in the
simulation and virtual reality marketplace. The company produces the bestin-
class firearm 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. For
more information, visit www.virtra.com.
One of our most important responsibilities is to communicate with
shareholders in an open and direct manner. Comments are based on
current management expectations, and are considered "forward-looking
statements," generally preceded by words such as "plans," "expects,"
"believes," "anticipates," or "intends." We cannot promise future returns.
Our statements reflect our best judgment at the time they are issued, and we
disclaim any obligation to update or alter forward-looking statements as the
result of new information or future events. VirTra Systems urges investors
to review the risks and uncertainties contained within its filings with the
Securities and Exchange Commission.
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