Welcome to our dedicated page for Virco Mfg news (Ticker: VIRC), a resource for investors and traders seeking the latest updates and insights on Virco Mfg stock.
Virco Mfg. Corporation (NASDAQ: VIRC) generates regular news and updates as a U.S.-based manufacturer of movable furniture and equipment for educational environments and public spaces. Company press releases frequently discuss financial performance, demand trends in school furniture and equipment, and operational developments tied to its institutional furniture manufacturing business.
News coverage for Virco often centers on quarterly and annual financial results, where the company reports on revenue, gross margin, operating income, and net income, along with commentary on market conditions in school furniture and related funding environments. Management statements commonly address the impact of seasonality in the preschool through 12th grade market, the timing of shipments and backlog, and the use of the non-GAAP metric “Shipments plus Backlog” to describe business velocity.
Investors following VIRC news will also see announcements about capital allocation decisions, including regular quarterly cash dividends on common stock and Board-authorized share repurchase programs funded by existing cash and cash equivalents. These releases outline the size of repurchase authorizations, the intended funding sources, and the discretionary nature of future purchases and dividend declarations.
Operationally, Virco’s news highlights its domestic manufacturing footprint in California and Arkansas, its vertically integrated model that combines sales, manufacturing, logistics, and field service, and its role as a supplier to K–12 schools, higher education institutions, convention centers, hospitality venues, government facilities, and places of worship. Management commentary often links these capabilities to the company’s ability to handle large, seasonal school furniture projects and to respond to changes in school funding, bond-financed construction, and broader economic conditions.
For readers tracking VIRC, this news page provides a centralized view of earnings releases, dividend and repurchase announcements, and other corporate updates that reflect how Virco’s institutional furniture manufacturing business is evolving over time.
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Virco Mfg. Corporation (Nasdaq: VIRC) reported a robust third quarter with net revenue rising 35% to $77.4 million and year-to-date revenue up 32.9% to $192.3 million. Improved operational efficiencies and a gross margin increase to 39.8%, driven by higher volume and price adjustments, supported this growth. Operating income soared from $2.5 million to $8.8 million, while net income reached $7.9 million compared to $1.3 million last year. SG&A expenses declined to 28.4% as the company focuses on enhancing U.S. operations and delivering strong returns to shareholders.
Virco Mfg. Corporation (Nasdaq: VIRC) reported a robust second quarter fiscal 2023, with net sales of $82.8 million, reflecting a 40.3% increase from $59.0 million a year prior. Net income surged to $9.7 million or $0.60 per diluted share, marking a 157% rise from $3.8 million. The company experienced heightened factory output by 30%, boosting its gross margin to 38.5%. Strong demand and effective management contributed to increased profitability, with a backlog of $194.7 million enhancing visibility for future revenue growth.
Virco Mfg. Corporation (Nasdaq: VIRC) reports a 13% year-over-year increase in net sales to $32.1 million for Q1 FY2023, despite a net loss of $5.1 million, exacerbated by inflationary pressures. Shipments and backlog reached $144.4 million, up 20% from the previous record, driven by robust demand from educational institutions. Management implemented contract adjustments for bi-annual price changes to mitigate inflation impacts. Gross margin improved to 30.3% from 27.1%, aided by a 45% increase in factory output compared to last year. Interest expense rose due to higher inventory levels.
Virco Mfg. Corp. (NASDAQ: VIRC) reported a 119% revenue increase for Q4 FY 2022, totaling $40.1 million, compared to $18.3 million last year. The fiscal year saw a 21% growth, reaching $184.8 million. Despite this, there was a pre-tax loss of $5.2 million in Q4, though this was an improvement from a loss of $6.5 million the previous year. Order rates surged by 65% in Q4, leading to a record backlog. A new $70 million credit facility was secured, enhancing liquidity for growth. The company anticipates profitability improvements in FY 2023, addressing margin pressures from material costs.
Virco Mfg. Corporation (NASDAQ: VIRC) reported third-quarter fiscal 2022 results with net sales of $57.3 million, slightly up from $57.2 million year-over-year. Net income fell 70.4% to $1.3 million or $0.08 per diluted share due to material shortages and rising input costs, impacting gross margin, which decreased to 35.4% from 38.9%. Despite these challenges, robust order rates are driven by stimulus funding. The backlog remains high at $45.1 million, signaling strong future demand as production capacity improves.