VirTra generates record $8.6 million in orders in first quarter
VirTra to present at the MicroCap Conference in New York City at 2:30 p.m. ET on April 9
TEMPE, Ariz. — 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.
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.