VirTra Inc (VTSI)

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VirTra Systems Announces Third Quarter Results
PR Newswire - November 16, 2006 15:45

HOUSTON, Nov 16, 2006 /PRNewswire-FirstCall via COMTEX/ -- VirTra Systems, Inc. (OTC Bulletin Board: VTSI) today announced unaudited results for the third quarter of its fiscal year ended September 30, 2006.

Total revenue reported for the third quarter was $462,921, up 66% compared to $279,619 for the same period one year ago. Net income for the quarter was $173,351, or $0.00 per share, up from a net loss of ($29,547), or $0.00 per share, for the third quarter of fiscal 2005.

Major General Perry V. Dalby (USA-Retired), VirTra Systems' chief executive officer, commented, "The improved performance this quarter reflects a significant increase in quarterly revenue plus benefits from the recent sale of our Phoenix facility.

"The company received its first order from the United States Marine Corps. The IVR(R) 4G-300 small arms training simulator has already been delivered and is pending final installation. In addition, VirTra Systems received another order from Mexico, making that country second only to the United States in IVR simulator installations, and an increasingly important customer.

"During the third quarter we completed sale of our Phoenix production facility and moved to our new Tempe, Arizona, location. The new facility has over 8,000 square feet of office and production space, an attractive product demonstration showroom, and is conveniently located within minutes of Phoenix Sky Harbor International Airport.

"Upon return from my duties in Iraq, I took over as the full-time chief executive officer of VirTra Systems in late August. The third quarter also saw Andrew Wells resign from the board of directors after years of dedicated service; subsequently, Major Frank Stanley (USA-Retired), and Michael Kitchen were named to the board.

"We expect this revenue improvement to continue after the majority of our recent sales this fall, now estimated at over $2.5 million, are reflected in subsequent filings," Dalby concluded.

About VirTra Systems

Utilizing patented technology, VirTra Systems sells situational awareness firearms training systems to military agencies such as the U.S. Army, Navy, Air Force, Marines, and Department of Defense, and to national and international law enforcement agencies. The company also produces multisensory promotional virtual reality systems and 3-D theaters for clients such as General Motors, Pennzoil, Red Baron(TM) Pizza, and the U.S. Army. For more information, visit http://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.

Media Relations:
VirTra Systems, Inc.
Steve Haag, vice-president
of investor relations
Houston, Texas
[phone]
[e-mail]


SOURCE VirTra Systems, Inc.

media relations, Steve Haag, vice-president of investor relations of VirTra Systems,
Inc., [phone], or [e-mail]

http://www.virtra.com

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