VirTra Inc (VTSI)

[bacchus17]

Financials are out:

1 - Best qtr ever

2 - Now leasing 38,000 sq ft to accomodate new business

3 - $3,994,456 of total revenue in the works

4 - $218k accelerated payment to IRS

5 - Dutchess still owed $79k



https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=34863

The second quarter of 2010 was the highest revenue quarter in the history of the company. Three of the last four quarters have
been in excess of $1.2 Million each. We are on track to achieve the highest revenue levels in the history of the company for
2010. We now have six qualified salespeople to concentrate on selling the highest quality firearm training simulation products
in the industry. Sales of $1,520,211is a 57% improvement over last year ($551,397 increase).
Our gross margins remain healthy which is critical for the investments required into infrastructure to accommodate our growth.
We are investing into improvements at our new headquarters as well as adding considerable production staff to enhance future
performance while continuing to deliver the highest quality products in our industry. For the quarter the gross margin
improved from 60.2% to 69.4%.
Our expense rate remains pretty constant as we add to the size of our organization to support this high growth. We now have
29 full time, qualified, caring, and highly motivated associates in our company. We will continue to strategically add as our
business continues to grow. We will continue to monitor this overhead rate and remain within our Long Range Growth Plans.
For the quarter the expense rate was 38.4% from 38.2%. Costs were kept well in line while continuing to allow accelerated
growth on the top line.
Ordinary income grew from $213,792 to $472,583 for a 121% increase (an improvement of $258,791 and from 22.1% to
31.1% a full 9 point increase).
Net gain per share for the second quarter of 2010 was $.0024 compared to $.0021 per share in Q2 2009.
VirTra’s cash was $814,690 as of June 30, 2010 compared to $284,377 as of June 30, 2009. Also, Shareholder’s equity
increased over $1,980,000 to $7.87 million at Q2 2010 ended from $5.89 million as of June 30, 2009.