VirTra Generates Record $8.6 Million in Orders in First Quarter
April 04 2018 - 8:00AM
VirTra, Inc. (Nasdaq:VTSI) (the “Company”), a
global provider of simulators for the law enforcement, military,
educational and commercial markets, today announced record orders
in the first quarter of 2018, exceeding $8.6 million. These orders
are expected to be delivered during the remainder of the year, with
much of the revenue likely to be recognized around the middle of
2018.
“Our expanded marketing function, which participated in a
significant number of trade shows during the quarter, and our
expanded and reorganized national sales organization, are
experiencing record success, giving us a tremendous start to what
we expect to be a record 2018,” said Jason Mulcahy, general manager
of VirTra. “The conversion of orders to revenue is contingent on
delivery timing coordinated with customers, which can vary based on
a variety of factors, but we are building a significant backlog to
support expected growth in 2018.”
“Historically, VirTra has communicated to our shareholders when
reaching record levels of orders in a particular quarter,”
commented Bob Ferris, Chairman and Chief Executive Officer of
VirTra. “Going forward, we expect to report our backlog as of the
end of each quarter as part of our presentation of our quarterly
results, providing enhanced visibility into our bookings and
revenue conversion process.”
“I look forward to discussing these record orders and other
reasons for our optimism for 2018 at a presentation at the MicroCap
Conference in New York City on Monday, April 9, 2018,” added Mr.
Ferris.
The MicroCap Conference is an exclusive event
for investors who specialize in MicroCap Companies to conduct
one-on-one meetings with VirTra and other participating companies
as well as view formal presentations. The conference will be held
at The JW Marriott Essex House, 160 Central Park South, New York,
NY 10019. Mr. Ferris will be presenting at 2:30 p.m. EDT on Monday,
April 9, 2018.
A live webcast of the group presentation will be
available at http://www.investorcalendar.com/event/27410.
About The MicroCap
Conference
The MicroCap Conference is an exclusive event
for investors who specialize in MicroCap Companies. It's an
opportunity to be introduced to and speak with management at some
of the most attractive small companies, to learn from our various
expert panels, and to network with buyside analysts and other micro
cap investors.
For those interested in attending, please
contact Fred Rockwell at fred@microcapconf.com or visit
https://microcapconf.com for more information.
About VirTra
VirTra is a global provider of simulators for the law
enforcement, military, educational and commercial markets. The
Company’s patented technologies, software and scenarios provide
intense training for de-escalation, judgmental use-of-force,
marksmanship and related training that mimics real world
situations. VirTra’s mission is to save and improve lives worldwide
through realistic and highly-effective virtual reality and
simulator technology. Learn more about VirTra at
www.VirTra.com.
Forward-looking Statements
This news release includes certain information that may
constitute forward-looking statements. Forward-looking
statements are typically identified by terminology such as “could,”
“may,” "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates," “proposed,” “planned,”
“potential” and similar expressions, or are those, which, by their
nature, refer to future events. All statements, other than
statements of historical fact, included herein, including
statements about VirTra's beliefs and expectations, are
forward-looking statements. Forward-looking information is
necessarily based upon a number of assumptions that, while
considered reasonable, are subject to known and unknown risks,
uncertainties and other factors which may cause the actual results
and future events to differ materially from those expressed or
implied by such forward-looking information. Although VirTra
believes that such statements are reasonable, it can give no
assurance that such forward-looking information will prove to be
accurate. VirTra cautions investors that any forward-looking
statements by the Company are not guarantees of future results or
performance, and that actual results may differ materially from
those in forward-looking statements as a result of various factors.
Accordingly, due to the risks, uncertainties and assumptions
inherent in forward-looking information, readers and prospective
investors in the Company's securities should not place undue
reliance on forward-looking information. All forward-looking
information contained in this press release is given as of the date
hereof and is based upon the opinions and estimates of management
and information available to management as at the date hereof and
is subject to change. The Company assumes no obligation to revise
or update forward-looking information to reflect new circumstances,
whether as a result of new information, future events or otherwise,
except as required by law.
Media contact:Susan LehmanSlehman@virtra.com(510) 599-6555
Investor Relations contact:Brett Maasvtsi@haydenir.com(646)
536-7331
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