VTSI .1815
I am optimistic about Virtra because they just posted a monstrous Q1 with $6million in revs and 2.4 million net income or .015eps. That's 1/2 of 2015 total revs and more than 2015 profit of $1.5million.
Now they have this contract to boost sales for the near term. Don't ask me why the State Department is funding this. It's the government. But certainly should add a few million in sales to the next several years for VTSI.
This training seems badly needed, to properly simulate actual critical situations for law enforcement. Could VTSI become another TASR? Probably not that big but they could become a standard training tool for law enforcement, which would be huge for this small company.
Tempe, Ariz. (April 20, 2016) — VirTra Systems, Inc. (OTC Pink: VTSI), a leading provider of use of force simulators and firearms training simulators, today announced that it is one of two awardees under an indefinite delivery/indefinite quantity (IDIQ) contract by the United States Department of State (DOS) for law enforcement training simulators. The maximum value of all individual orders under the contract is US$40 million over the next five years.
If successful in winning individual orders under this contract, VirTra expects to provide law enforcement training simulators and related accessories, installation services, extended warranty services, scenario filming services, and training. VirTra’s systems generally employ multiple screens, realistic video training content and an electric impulse return fire system to simulate the stress of real-world situations – ultimately to help best prepare officers in judgmental use of force encounters. Using VirTra’s highly-advanced systems, officers hone and refine critical skills, in realistic scenarios, before lives are on the line. The contract requires, among other things, use of force and firearms simulators with peripheral view, a technology pioneered and continually refined by VirTra since 2004.
“The functional requirements of this multi-award IDIQ contract are an excellent fit with VirTra’s proven capabilities,” said Bob Ferris, Chairman and CEO of VirTra. “It is an honor to be selected as one of just two awardees and we look forward to the opportunity to supply world class training solutions to the U.S. and its foreign partners.”
The U.S. State Department expects a majority of the simulators to eventually be donated to foreign partners in support of U.S. Foreign Assistance programs. The simulators are expected to be used “in basic and advanced weapons training for developing proficiency in marksmanship, use of force judgment skills, close quarters shooting skills, tactical reloading and weapon malfunction clearing related to typical situations which law enforcement personnel face in the execution of their duties.”
About VirTra
VirTra is a global leading provider of the world’s most realistic and effective judgmental use of force simulators. VirTra is the higher standard in firearms training simulators, offering a variety of simulator platforms, powerful gas-powered recoil kits and the patented Threat-Fire™ simulated hostile return fire system. VirTra’s products provide the very best simulation training available for personnel that are entrusted with lethal force and critical missions. The Company’s common stock is not registered under the Securities Exchange Act of 1934 and the Company does not currently file periodic or other reports with the Securities and Exchange Commission.
www.VirTra.com
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