is the next big thing
How many penny stocks do any of us own that are trading under a dime, are profitable and who are selling for a P/E under 10.
Here's another huge draw for VTSI check this out.......
VirTra Posts 5th Consecutive Record-Breaking Quarter-Aug 17, 2009
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.
Net income from operations increased from $272,274 for the 2nd quarter 2008 to $328,587 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
Net gain per share for the first six months of 2009 was $.0037
Net income for six months was $497,877.
Two key points:
They paid $65,000 to buy back 5 million shares that were about to become free trading. This is a one time expense.
They paid an extra $161,000 on top of their scheduled payment to settle an old IRS debt.
Net income of $497,877 plus one time expenses of $227,000. They're running profitably now.
Here's a potential catalyst for VTSI. Check this out from VTSI last filing. They have three huge orders not yet billed almost completed worth $1.2 million dollars. VTSI never had a quarter with this much revenue. All of this $1.2 million should be completed and show up as revenue in the third quarter. VTSI is poised to deliver a knock out quarter for period ending 9/30/09. EPS could come close to .012-.014 for first 9 months of year. Putting VTSI P/E around 3-4X. Now factor back in the fact that Lockheed Martin has just placed four orders with VTSI. A big contract from Lockheed a legit possibility.
**********During 2nd Quarter 2009, we had three large projects nearly completed in the production stage. Our percentage of completion
is based on total costs incurred to date compared to the estimated total cost of each contract. Of the partially completed work at June 30, 2009, we have incurred total costs of $290,925 on contracts totaling $1,237,243 of total revenue. We estimate that we will incur approximately $24,975 of additional costs and do not expect to incur any losses on our uncompleted contracts. Our costs and estimated earnings in excess of billings on uncompleted contracts total was $75,502 at June 30, 2009.
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