VirTra Receives $863,000 Order from Customs and Border Protection
September 03 2020 - 8:00AM
VirTra, Inc. (NASDAQ: VTSI)
(“VirTra”), a global provider of training simulators for
the law enforcement, military, educational and commercial markets,
has received an order from the U.S. Customs and Border Protection
(CBP) for simulation training products and services, including new,
drop-in recoil kits, valued at $863,000.
The order from CBP is part of an existing indefinite
delivery/indefinite quantity (IDIQ) contract from the U.S.
Department of Homeland Security. The IDIQ contract, which VirTra
originally received in 2016, had a one-year base term with four
additional option years and a potential value of up to $9.0
million. To date, CBP has purchased approximately $5.2 million of
products and services from VirTra through this vehicle. VirTra
anticipates recognizing revenues from this new $863,000 delivery
order before the end of 2020.
“Customs and Border Protection has been a VirTra client for many
years, and it’s always encouraging to see long-standing customers,
who understand the value of our products and services, enhance
their training capabilities with new orders,” said Jason Mulcahy,
General Manager of VirTra. “Securing and protecting our borders,
airports, and ports of entry is a substantial responsibility, and
we’re proud to play a role supporting CBP’s primary mission by
continuing to supply them with the best simulation training
available.”
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.
Investor Relations Contact:Matt Glover or
Charlie Schumacher VTSI@gatewayir.com949-574-3860
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