VirTra Posts 5th Consecutive Record-Breaking Quarter

VirTra Posts 5th Consecutive Record-Breaking Quarter: "VirTra Posts 5th Consecutive Record-Breaking Quarter
TEMPE, Ariz.--(BUSINESS WIRE)--Bob Ferris, VirTra Systems' CEO and president (Pink Sheets:VTSI), today announced VirTra’s 5th consecutive profitable and record-breaking quarter. VirTra is known for setting the highest simulation training standard in the industry by developing the world’s most effective and realistic firearm training systems (FATS) for both law enforcement and military organizations throughout the world. With today’s announcement, VirTra has now posted five consecutive profitable quarters since new management took control in 2008.
For the quarter ending June 30, 2009, gross revenue grew 23.7% from $783,261 to a record $968,814, due to successful sales efforts, specifically with the growing list of international customers.
General and administration costs are higher from $140,374 for the second quarter 2008 up to $369,602 for second quarter 2009. The primary differences are: a $114,795 amortization expense, hiring additional sales staff, increased tradeshow expenses, and increased sales related travel.
Net income from operations increased from $272,274 for the 2nd quarter 2008 to $328,587 (adding back Amortization Expense of $114,795) for the 2nd quarter 2009. This is an increase in operating profit of 20.7%.
Net gain per share for the second quarter of 2009 was $.0021, compared to $.0082 per share in 2008. However, second quarter 2008 had $824,975 of non-operational income that is non-recurring and is directly due to forgiveness of debt income, gain on litigation settlements and gain on derivative liability.
Overall, VirTra has made consistent improvements in fina"

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