VirTra Inc (VTSI)

[ceres]

VirTra Systems Announces Third Quarter Results
Monday November 14, 3:57 pm ET


ARLINGTON, Texas, Nov. 14 /PRNewswire-FirstCall/ -- VirTra Systems, Inc. (OTC Bulletin Board: VTSI - News) today announced unaudited results for the third quarter of fiscal year ended September 30, 2005.

Total revenue for the third quarter was $279,619, down 20% compared to $350,445 for the same period one year ago. Net loss for the quarter was ($29,547), or $0.00 per share, down 86% from net loss of ($217,007), or ($0.00) per share, for the third quarter of fiscal 2004.

Total assets increased 64%, and current liabilities decreased 52%, from the same period one year ago.

"We are pleased to report a solid quarter, setting the stage for a successful conclusion to 2005," commented L. Kelly Jones, VirTra Systems' chief executive officer. "While disappointed with the quarter's revenue, the third quarter witnessed a notable increase in sales, growth in strategic relationships, continued delivery of innovative technology, and the foundation for a three-company acquisition which will increase assets nearly ten-fold.

"Nearly $1 million in IVR(TM) simulator orders within the last 120 days reflects VirTra Systems' growing reputation for the most advanced, sophisticated, and reliable virtual training systems currently available.

"Our commitment to customer relationships is evidenced by the U.S. Air Force's third purchase of an IVR simulator. We also announced another sale to the U.S. Army, as the influential Army Research Laboratory purchased an IVR 4G-300(TM). Both systems are scheduled for December delivery.

"Our determination to advance our technological lead was evidenced during the quarter by unveiling new wireless handgun technology.

"With profitability and completion of the acquisitions on the near-term horizon, we believe our strategic direction and corporate focus are sound and on target," Jones concluded.

About VirTra Systems

Utilizing patented technology, VirTra Systems sells situational awareness firearms training systems to military agencies such as the U.S. Air Force, Army, 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
Arlington, Texas
[phone]
[e-mail]




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Source: VirTra Systems, Inc.