![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Thursday, March 28, 2013 7:20:39 AM
http://www.virtra.com/PDF/CompanyReports/VTSI2012FinancialStmts.pdf
Tempe, Arizona (March 28, 2013) — VirTra (OTC Pink: VTSI), a leading provider of firearms training simulators to military, law enforcement agencies and other organizations, today announced the release of its year end 2012 audited financial statements. The audited financial statements are available on VirTra’s website.
VirTra has released the report of its independent registered public accounting firm, BDO Seidman Alliance member Semple, Marchal & Cooper, LLP, on the corporate financial statements for the fiscal year ended December 31, 2012. The company reported record high annual gross revenue of $8.8 million a 12% increase over 2011 gross revenue. This gain was due to increased market acceptance of VirTra as the new standard in use of force training simulators and sales department improvements implemented before and during 2012.
Also, VirTra’s gross margin improved by 22%, moving from 52% of sales in 2011, up to 63% of sales during 2012. This increase was partially attributed to the increase in VirTra’s pricing. Also, in 2011 operations implemented a new production and inventory management system designed to improve material, labor, installation, and overhead costs of goods sold.
To increase opportunities for future expansion, VirTra did expand its overall spending on research and development during 2012. VirTra’s General and Administration expense remained constant as a percentage of sales during 2012. As a result of these efforts, VirTra made a profit during 2012 of $.1 million as compared with a loss of $.7 million in 2011.
During 2012 and continuing into 2013, VirTra is pursuing aggressive growth strategies, to include sustained investment into its business to lay the foundation for expected expansion. As part of this process, VirTra is working alongside world class companies on several large domestic and international expansion opportunities. In addition, the Company continues to build on its best-in-class product and service reputation with military, law enforcement and commercial customers throughout the world.
Bob Ferris, Chief Executive Officer of VirTra, stated, “VirTra not only reached a record high in 2012 revenue and produced a profit, it did so while investing money and time into major growth opportunities in North America and selected world-wide markets. The management team is committed to building the Company’s business, which is fundamental to long-term shareholder value. In addition, the Board of Directors is examining the implications of becoming a Securities and Exchange Commission (SEC) reporting company as well as reviewing a potential stock reversal and possible exchange listing.”
Recent VTSI News
- VirTra Simulators Approved for DoD-Funded Research Projects • GlobeNewswire Inc. • 06/13/2024 12:30:00 PM
- VirTra Set to Join Russell 3000® Index • GlobeNewswire Inc. • 06/04/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 08:05:29 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/14/2024 08:06:53 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/14/2024 08:05:22 PM
- VirTra Reports First Quarter 2024 Financial Results • GlobeNewswire Inc. • 05/14/2024 08:05:00 PM
- VirTra Sets First Quarter 2024 Conference Call for Tuesday, May 14, 2024 at 4:30 p.m. ET • GlobeNewswire Inc. • 04/30/2024 12:00:00 PM
- VirTra to Introduce V-XR Training Solution at IAHSS Exhibition, Signaling Increased Commitment to Healthcare Security Training • GlobeNewswire Inc. • 04/29/2024 12:00:00 PM
- VirTra Awarded $5.9M Prototype Contract from U.S. Army IVAS Prime Contractor Microsoft • GlobeNewswire Inc. • 04/18/2024 12:00:00 PM
- VirTra Reports Fourth Quarter and Full Year 2023 Financial Results • GlobeNewswire Inc. • 04/02/2024 10:00:00 AM
- VirTra Reports Fourth Quarter and Full Year 2023 Financial Results • GlobeNewswire Inc. • 04/01/2024 08:05:00 PM
- VirTra Sets Fourth Quarter and Full Year 2023 Conference Call for Monday, April 1, 2024 at 4:30 p.m. ET • GlobeNewswire Inc. • 03/18/2024 12:00:00 PM
- VirTra to Participate in the 36th Annual ROTH Conference on March 17-19, 2024 • GlobeNewswire Inc. • 03/07/2024 01:00:00 PM
- VirTra CEO John Givens Appointed as Executive Committee Chair for National Center for Simulation • GlobeNewswire Inc. • 02/15/2024 01:00:00 PM
- VirTra Debuts Advanced Training Content and True-Fire™ Recoil Kits at SHOT Show • GlobeNewswire Inc. • 01/18/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/28/2023 09:05:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/21/2023 09:05:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/07/2023 09:05:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/06/2023 09:17:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/06/2023 09:15:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/04/2023 09:42:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/04/2023 09:40:26 PM
- VirTra Debuts New Integration of VBS4 at I/ITSEC 2023 to Support Military Clients • GlobeNewswire Inc. • 11/29/2023 10:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/29/2023 09:19:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/29/2023 09:18:37 PM
FEATURED POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM
Bantec's Howco Short Term Department of Defense Contract Wins Will Exceed $1,100,000 for the current Quarter • BANT • Jun 25, 2024 10:00 AM
ECGI Holdings Targets $9.7 Billion Equestrian Apparel Market with Allon Brand Launch • ECGI • Jun 25, 2024 8:36 AM
Avant Technologies Addresses Progress on AI Supercomputer-Driven Data Centers • AVAI • Jun 25, 2024 8:00 AM
Green Leaf Innovations, Inc. Expands International Presence with New Partnership in Dubai • GRLF • Jun 24, 2024 8:30 AM