VTSI +.39 to $2.19 small new order but record new orders for Q1. Normally a slow qtr.
TEMPE, Ariz., March 28, 2017 (GLOBE NEWSWIRE) -- VirTra, Inc. (OTCQX:VTSI), (the “Company”), a leading provider of judgmental use of force simulators and firearms training simulators, today announced that it has received an award from an undisclosed international customer in the Middle East for approximately $0.6 million. VirTra will supply, install and maintain simulator systems at the customer’s locations. These installations will be the latest in a total of thirteen V-300TM systems that have been deployed over several years in this particular Middle Eastern country.
Jason Mulcahy, VirTra’s General Manager, said, “It has been our goal to expand our international business, so as to deliver the most effective and realistic judgmental use of force training solutions to law enforcement and other government agencies throughout the world, all while exceeding our customers’ expectations. This award demonstrates our ongoing progress towards achieving that goal.”
Including this award, the Company is on track for a record number of orders for a first quarter, which is normally a seasonally slow quarter for the industry. As of today’s date, the total amount of signed contracts received during the first quarter of 2017 is approximately $4.9 million. Included in the $4.9 million, is the $2.1 million contract from the Arizona Department of Public Safety that was previously announced on December 19, 2016, but was not fully executed by the customer until 2017.
Bob Ferris, Chairman and Chief Executive Officer of VirTra, commented, “We are very pleased with our level of new sales orders for the first quarter of 2017. Even when excluding the large order from the State of Arizona, we booked approximately $2.8 million in orders, which in itself would have been a record for a first quarter. We are encouraged by the traction that we continue to receive in both the domestic and international markets and we look forward to serving these customers for years to come.”
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
Investor Relations Counsel
Larry Clark
Financial Profiles, Inc.
(310) 622-8223
vtsi@finprofiles.com
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