VirTra Receives $1.7 Million Expansion Order from U.S. Department of Homeland Security for Customs and Border Protection
September 17 2019 - 8:00AM
VirTra, Inc. (NASDAQ: VTSI), a global provider of
training simulators for the law enforcement, military, educational
and commercial markets, has received a $1.7 million fixed-price
delivery order for simulators, services, and equipment from U.S.
Department of Homeland Security for Customs and Border Protection
(CBP). This order is part of a previously announced Indefinite
Delivery/Indefinite Quantity (IDIQ) contract and comes two months
after VirTra received a $630,000 follow-on order from CBP.
Under the terms of this expansion order, VirTra will provide
Customs and Border Protection with additional simulators, as well
as accessories and new, custom content specifically created to meet
the agency’s training needs. CBP has also purchased a warranty
plan, under which VirTra will provide any necessary service and
maintenance to equipment over the next five years. VirTra expects
to recognize revenues from this expansion order over the coming
year.
“The United States Customs and Border Protection is a
long-standing VirTra customer, and we’re very pleased to
consistently find new ways of providing additional support to
better serve that agency’s mission,” said Bob Ferris, Chairman and
CEO of VirTra. “This order serves as a testament to the strength of
our product suite and our ability to expand our footprint with
current customers by continuing to provide them with valuable
solutions. After this order is complete, VirTra simulators will be
located at forty-two major ports of entry, international airports,
and training facilities across the country. We look forward to
delivering this order and continuing to support the brave men and
women who serve our country and protect our borders.”
About VirTraVirTra (NASDAQ: VTSI) is a global
provider of judgmental use of force training simulators, firearms
training simulators and driving 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 practical
and highly-effective virtual reality and simulator technology.
Learn more about the company at www.VirTra.com.
About U.S. Customs & Border ProtectionWith
more than 60,000 employees, U.S. Customs and Border Protection,
CBP, is one of the world's largest law enforcement organizations
and is charged with keeping terrorists and their weapons out of the
U.S. while facilitating lawful international travel and trade.As
the United States’ first unified border entity, CBP takes a
comprehensive approach to border management and control, combining
customs, immigration, border security, and agricultural protection
into one coordinated and supportive activity.
Forward Looking Statements:This news release
includes certain information that may constitute forward-looking
statements made pursuant to the safe harbor provision of the
Private Securities Litigation Reform Act of 1995. 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, 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.
Investor Relations Contact:Matt Glover or
Charlie SchumacherVTSI@gatewayir.com949-574-3860
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