Virco(VIRC)
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Virco Manufacturing Corporation (VIRC) Surpasses Q2 Earnings Estimates
ZACKS· 2024-09-09 14:50
Virco Manufacturing Corporation (VIRC) came out with quarterly earnings of $1.04 per share, beating the Zacks Consensus Estimate of $1 per share. This compares to earnings of $0.95 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 4%. A quarter ago, it was expected that this company would post a loss of $0.13 per share when it actually produced earnings of $0.13, delivering a surprise of 200%. Over the last four quarters, the c ...
Virco Gears Up to Report Q2 Earnings: What in the Offing?
ZACKS· 2024-09-05 16:26
Virco Mfg. Corporation (VIRC) is expected to have generated stronger performance in second-quarter fiscal 2025. In the last reported quarter, VIRC's earnings per share (EPS) and net sales surpassed the Zacks Consensus Estimate by 200% and 24%, respectively. On a year-over-year basis, revenues increased 33.7% and EPS expanded 244.4%. The company's bottom line topped the consensus mark in seven of the trailing eight quarters. Trend in Estimate Revision The Zacks Consensus Estimate for the to-be-reported quart ...
Virco(VIRC) - 2025 Q1 - Quarterly Results
2024-06-07 18:07
Exhibit 99.1 Virco Reports 33.7% Increase in First Quarter Revenue; Net Income of $2.1 million; Declares Regular Quarterly Dividend The Company's Board also declared a regular quarterly dividend of $0.02 per share, payable on July 12, 2024 to shareholders of record as of June 21, 2024. In addition, the Company reported that it has completed its first round of open market share repurchases totaling $1.5 million. A large individual order related to disaster relief and recovery contributed materially to the st ...
Virco(VIRC) - 2025 Q1 - Quarterly Report
2024-06-07 18:05
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended April 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File number 1-8777 VIRCO MFG. CORPORATION (Exact Name of Registrant as Specified in its Charter) Delaware 95-1613718 (State or Other Jurisdiction of Incorp ...
Virco(VIRC) - 2024 Q4 - Annual Report
2024-04-12 18:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ Annual Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the fiscal year ended January 31, 2024 ☐ Transition Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 1-8777 VIRCO MFG. CORPORATION (Exact name of registrant as specified in its charter) | Delaware | 95-1613718 | | --- | --- | | (State or ot ...
Virco(VIRC) - 2024 Q4 - Annual Results
2024-04-12 18:04
[Financial and Operational Highlights](index=1&type=section&id=Financial_and_Operational_Highlights) [Overall Performance](index=1&type=section&id=Overall_Performance) Virco reported significant fiscal year 2024 growth, with revenue up 16.5% to $269.1 million and net income rising 32.4% Fiscal Year 2024 vs. 2023 Key Financials | Metric | FYE Jan 31, 2024 (in millions) | FYE Jan 31, 2023 (in millions) | Change | | :--- | :--- | :--- | :--- | | Net Revenue | $269.1 | $231.1 | +16.5% | | Gross Margin | 43.1% | 36.9% | +6.2 p.p. | | Operating Income | $31.9 | $10.6 | +200.2% | | Income Before Taxes | $29.2 | $8.0 | +264.0% | | Net Income | $21.9 | $16.5 | +32.4% | | Diluted EPS | $1.34 | $1.02 | +31.4% | Q4 Fiscal Year 2024 vs. 2023 Performance | Metric | Q4 FY 2024 (in millions) | Q4 FY 2023 (in millions) | Change | | :--- | :--- | :--- | :--- | | Net Revenue | $42.6 | $38.8 | +9.8% | | Gross Margin | 37.7% | 33.5% | +4.2 p.p. | - Management believes Income Before Taxes is the most accurate year-over-year comparison of operating performance, due to an **$8.5 million** valuation allowance reversal for NOL tax credits in the prior year[10](index=10&type=chunk) [Business Model and Operational Efficiency](index=1&type=section&id=Business_Model_and_Operational_Efficiency) Virco's 74-year-old vertically integrated business model enhances operational control, improving efficiency and reducing SG&A expenses - The company's vertically integrated model and experienced workforce (**40%** with over 20 years of service) are key to managing seasonal demand and ensuring timely delivery[4](index=4&type=chunk) - Selling, General, and Administrative (SG&A) expenses improved, declining to **31.3%** of revenue from **32.3%** in the prior year[6](index=6&type=chunk) - Enhanced services, such as PlanSCAPE project management and full-service delivery, now constitute **over two-thirds** of the company's revenue[6](index=6&type=chunk) [Financial Position and Outlook](index=1&type=section&id=Financial_Position_and_Outlook) Virco achieved a robust financial position, becoming effectively debt-free with strong cash flow and record 'Shipments + Backlog' - The company is effectively debt-free at year-end, with only a small mortgage remaining on an Arkansas facility[7](index=7&type=chunk)[9](index=9&type=chunk) Key Financial Position and Outlook Metrics | Metric | FYE Jan 31, 2024 (in millions) | FYE Jan 31, 2023 (in millions) | | :--- | :--- | :--- | | Cash flow from operations | $27.0 | $(3.8) | | Shipments + Backlog | $317.6 | $289.6 | - The "Shipments + Backlog" non-GAAP metric is used internally to plan production, staffing, and financing ahead of the busy summer delivery season[11](index=11&type=chunk) [Management Commentary and Company Overview](index=3&type=section&id=Management_Commentary_and_Company_Overview) [Management Commentary](index=3&type=section&id=Management_Commentary) Chairman and CEO Robert Virtue expressed satisfaction with fiscal year results, attributing success to discipline and optimism - The CEO emphasized the company's commitment to its strategy of supporting "Good jobs and good schools"[12](index=12&type=chunk) [About Virco Mfg. Corporation](index=3&type=section&id=About_Virco_Mfg_Corporation) Founded in 1950, Virco is the largest U.S. manufacturer of K-12 educational furniture, with all operations in the U.S. - Virco is the leading U.S. manufacturer for the preschool through 12th-grade educational furniture market[13](index=13&type=chunk) - The company's product line includes tables, desks, chairs, and storage equipment for various markets beyond education[13](index=13&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=Consolidated_Financial_Statements) [Consolidated Balance Sheets](index=5&type=section&id=Consolidated_Balance_Sheets) Virco's balance sheet as of January 31, 2024, showed total assets of $146.4 million and significantly reduced liabilities Balance Sheet Summary (in thousands) | Account | Jan 31, 2024 | Jan 31, 2023 | | :--- | :--- | :--- | | Total Current Assets | $89,026 | $89,068 | | Total Assets | $146,445 | $150,126 | | Total Current Liabilities | $38,532 | $48,525 | | Total Liabilities | $55,266 | $82,065 | | Total Stockholders' Equity | $91,179 | $68,061 | - Long-term debt, including the current portion, was significantly reduced from **$21.7 million** in 2023 to **$4.4 million** in 2024[21](index=21&type=chunk) [Consolidated Statements of Income](index=7&type=section&id=Consolidated_Statements_of_Income) For fiscal year 2024, Virco's net sales increased 16.5% to $269.1 million, with operating income surging Income Statement Summary (in thousands, except per share data) | Account | Year ended Jan 31, 2024 | Year ended Jan 31, 2023 | | :--- | :--- | :--- | | Net sales | $269,117 | $231,064 | | Gross profit | $116,058 | $85,341 | | Operating income | $31,877 | $10,644 | | Net income | $21,910 | $16,547 | | Diluted EPS | $1.34 | $1.02 | - A cash dividend of **$0.02** per common share was declared for the fiscal year 2024; no dividend was declared in the prior year[23](index=23&type=chunk) [Important Disclosures](index=4&type=section&id=Important_Disclosures) [Non-GAAP Financial Information](index=4&type=section&id=Non-GAAP_Financial_Information) The company utilizes 'shipments plus unshipped backlog' as a non-GAAP measure for internal planning - The non-GAAP measure of "shipments plus unshipped backlog" is considered a relevant and preferred supplemental tool for internal planning purposes[15](index=15&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward_Looking_Statements) This press release contains forward-looking statements subject to risks and uncertainties, including economic conditions - Forward-looking statements involve known and unknown risks, and the company disclaims any obligation to update them. Key risk factors include economic conditions, raw material costs, and state and municipal funding[16](index=16&type=chunk)
Virco(VIRC) - 2024 Q3 - Quarterly Report
2023-12-08 19:13
Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended October 31, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 VIRCO MFG. CORPORATION (Exact Name of Registrant as Specified in its Charter) Delaware 95-1613718 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) ...
Virco(VIRC) - 2024 Q2 - Quarterly Report
2023-09-11 18:17
[PART I. Financial Information](index=4&type=section&id=Part%20I.%20Financial%20Information) This part presents the company's unaudited financial statements, management's analysis, market risk disclosures, and control procedures [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements and accompanying notes for Virco Mfg Corporation [Unaudited Condensed Consolidated Balance Sheets](index=4&type=section&id=Unaudited%20condensed%20consolidated%20balance%20sheets%20-%20July%2031%2C%202023%2C%20January%2031%2C%202023%20and%20July%2031%2C%202022) **Balance Sheet Highlights (in thousands)** | Metric | 7/31/2023 | 1/31/2023 | 7/31/2022 | | :--- | :--- | :--- | :--- | | Total Assets | $204,337 | $150,126 | $165,529 | | Total Liabilities | $122,042 | $82,065 | $113,024 | | Total Stockholders' Equity | $82,295 | $68,061 | $52,505 | **Current Assets (in thousands)** | Metric | 7/31/2023 | 1/31/2023 | 7/31/2022 | | :--- | :--- | :--- | :--- | | Cash | $1,600 | $1,057 | $2,179 | | Trade accounts receivables, net | $68,592 | $18,435 | $44,286 | | Inventories | $71,853 | $67,406 | $61,228 | | Total current assets | $144,331 | $89,068 | $109,967 | **Current Liabilities (in thousands)** | Metric | 7/31/2023 | 1/31/2023 | 7/31/2022 | | :--- | :--- | :--- | :--- | | Accounts payable | $27,854 | $19,448 | $27,290 | | Current portion of long-term debt | $32,256 | $7,360 | $22,736 | | Total current liabilities | $91,063 | $48,525 | $71,865 | [Unaudited Condensed Consolidated Statements of Income - Three months ended July 31, 2023 and 2022](index=6&type=section&id=Unaudited%20condensed%20consolidated%20statements%20of%20income%20-%20Three%20months%20ended%20July%2031%2C%202023%20and%202022) **Three Months Ended July 31 (in thousands, except per share data)** | Metric | 7/31/2023 | 7/31/2022 | YoY Change | | :--- | :--- | :--- | :--- | | Net sales | $107,321 | $82,797 | +29.6% | | Gross profit | $48,578 | $31,845 | +52.5% | | Operating income | $21,254 | $11,174 | +90.2% | | Net income | $15,534 | $9,680 | +60.5% | | Basic Net income per common share | $0.95 | $0.60 | +58.3% | [Unaudited Condensed Consolidated Statements of Income - Six months ended July 31, 2023 and 2022](index=7&type=section&id=Unaudited%20condensed%20consolidated%20statements%20of%20income%20-%20Six%20months%20ended%20July%2031%2C%202023%20and%202022) **Six Months Ended July 31 (in thousands, except per share data)** | Metric | 7/31/2023 | 7/31/2022 | YoY Change | | :--- | :--- | :--- | :--- | | Net sales | $142,264 | $114,881 | +23.8% | | Gross profit | $61,780 | $41,552 | +48.7% | | Operating income | $19,942 | $6,430 | +209.0% | | Net income | $14,092 | $4,596 | +206.6% | | Basic Net income per common share | $0.87 | $0.29 | +200.0% | [Unaudited Condensed Consolidated Statements of Comprehensive Income - Three months ended July 31, 2023 and 2022](index=8&type=section&id=Unaudited%20condensed%20consolidated%20statements%20of%20comprehensive%20income%20-%20Three%20months%20ended%20July%2031%2C%202023%20and%202022) **Three Months Ended July 31 (in thousands)** | Metric | 7/31/2023 | 7/31/2022 | | :--- | :--- | :--- | | Net income | $15,534 | $9,680 | | Pension adjustments | — | $135 | | Net comprehensive income | $15,534 | $9,815 | [Unaudited Condensed Consolidated Statements of Comprehensive Income - Six months ended July 31, 2023 and 2022](index=9&type=section&id=Unaudited%20condensed%20consolidated%20statements%20of%20comprehensive%20income%20-%20Six%20months%20ended%20July%2031%2C%202023%20and%202022) **Six Months Ended July 31 (in thousands)** | Metric | 7/31/2023 | 7/31/2022 | | :--- | :--- | :--- | | Net income | $14,092 | $4,596 | | Pension adjustments | — | $270 | | Net comprehensive income | $14,092 | $4,866 | [Unaudited Condensed Consolidated Statements of Cash Flows - Six months ended July 31, 2023 and 2022](index=10&type=section&id=Unaudited%20condensed%20consolidated%20statements%20of%20cash%20flows%20-%20Six%20months%20ended%20July%2031%2C%202023%20and%202022) **Cash Flow Summary (Six Months Ended July 31, in thousands)** | Activity | 7/31/2023 | 7/31/2022 | | :--- | :--- | :--- | | Net cash used in operating activities | $(21,150) | $(19,970) | | Net cash used in investing activities | $(2,795) | $(1,524) | | Net cash provided by financing activities | $24,488 | $22,314 | | Net increase in cash | $543 | $820 | | Cash at end of period | $1,600 | $2,179 | - Net cash used in operating activities increased to **$(21,150) thousand** in 2023 from $(19,970) thousand in 2022, primarily due to a significant increase in trade accounts receivable[29](index=29&type=chunk) [Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity - Three and six months ended July 31, 2023 and 2022](index=11&type=section&id=Unaudited%20condensed%20consolidated%20statements%20of%20changes%20in%20stockholders'%20equity%20-%20Three%20and%20six%20months%20ended%20July%2031%2C%202023%20and%202022) **Total Stockholders' Equity (Three Months Ended July 31, in thousands)** | Metric | 7/31/2023 | 7/31/2022 | | :--- | :--- | :--- | | Balance at May 1 | $66,722 | $42,750 | | Net income | $15,534 | $9,680 | | Balance at July 31 | $82,295 | $52,505 | **Total Stockholders' Equity (Six Months Ended July 31, in thousands)** | Metric | 7/31/2023 | 7/31/2022 | | :--- | :--- | :--- | | Balance at February 1 | $68,061 | $47,446 | | Net income | $14,092 | $4,596 | | Balance at July 31 | $82,295 | $52,505 | [Notes to Unaudited Condensed Consolidated Financial Statements - July 31, 2023](index=13&type=section&id=Notes%20to%20unaudited%20condensed%20consolidated%20financial%20statements%20-%20July%2031%2C%202023) - The financial statements are prepared in accordance with U.S. GAAP for interim information and SEC rules, and should be read in conjunction with the Company's Annual Report on Form 10-K[38](index=38&type=chunk) - The educational furniture market is highly seasonal, with approximately **50% of total sales** typically occurring from June to August, requiring significant upfront investment in inventory and reliance on third-party bank financing[39](index=39&type=chunk) - Revenue is recognized when control of promised goods or services is transferred to customers, primarily at the point of delivery (FOB destination), and is recorded net of discounts, sales incentives, and estimated returns[42](index=42&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk) **Inventories Breakdown (in thousands)** | Category | 7/31/2023 | 1/31/2023 | 7/31/2022 | | :--- | :--- | :--- | :--- | | Finished goods | $24,995 | $25,740 | $26,336 | | Work in process | $29,081 | $25,303 | $19,138 | | Raw materials | $17,777 | $16,363 | $15,754 | | **Total inventories** | **$71,853** | **$67,406** | **$61,228** | - Total debt increased to **$46,517 thousand** as of July 31, 2023, from $21,744 thousand at January 31, 2023, primarily due to increased revolving credit line borrowings to finance seasonal working capital[53](index=53&type=chunk)[56](index=56&type=chunk) - The effective income tax rates for the three and six months ended July 31, 2023, were **23.6%**, significantly higher than the prior year, primarily due to the reversal of a valuation allowance for federal deferred tax assets[61](index=61&type=chunk) - Total stock-based compensation expense for the six months ended July 31, 2023, was **$252 thousand**, with **$572 thousand** of unrecognized compensation expense remaining[66](index=66&type=chunk) - Shipping and classroom delivery costs of **$9,991 thousand** (three months) and **$13,334 thousand** (six months) were included in selling, general and administrative expenses[75](index=75&type=chunk)[76](index=76&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, highlighting a return to seasonal sales cycles, increased profitability, and liquidity [Overview](index=21&type=section&id=Overview) - The company has fully returned to its traditional seasonal summer peak in 2023, overcoming prior year's COVID-19 related labor and material shortages, with approximately **50% of annual sales** typically occurring from June to August[79](index=79&type=chunk)[80](index=80&type=chunk) - The company started the current fiscal year with an order backlog approximately **$18 million greater** than the prior year, reaching **$104.6 million** at April 30, 2023, and began the peak period with nearly **$20 million of increased inventory**[80](index=80&type=chunk)[81](index=81&type=chunk) - Orders increased by **10.4%** in the quarter ended April 30, 2023, and **3.3%** in the quarter ended July 31, 2023, resulting in a **6.7% year-to-date increase**[81](index=81&type=chunk) [Three Months Ended July 31, 2023](index=21&type=section&id=Three%20Months%20Ended%20July%2031%2C%202023) - Net sales for the second quarter increased by **$24,524 thousand (29.6%)** to $107,321 thousand, compared to $82,797 thousand in the prior year, driven by increased backlog, first-quarter orders, and price increases[83](index=83&type=chunk)[84](index=84&type=chunk) - Gross margin improved to **45.3%** from 38.5% in the prior year, attributed to price increases, stable commodity costs, and an increase in full-service orders[85](index=85&type=chunk) - Selling, general and administrative expenses increased by **$6,653 thousand**, due to higher variable freight and service, selling expenses, and a management bonus provision[86](index=86&type=chunk) - The effective income tax rate increased to **23.6%** from 3.0% in the prior year, primarily due to the reversal of a valuation allowance for deferred tax assets[89](index=89&type=chunk) [Six Months Ended July 31, 2023](index=23&type=section&id=Six%20Months%20Ended%20July%2031%2C%202023) - Net sales for the six-month period increased by **$27,383 thousand (23.8%)** to $142,264 thousand, compared to $114,881 thousand in the prior year, driven by increased backlog, first-quarter orders, and price increases[90](index=90&type=chunk) - Gross Margin for the first six months was **43.4%** compared to 36.2% in the prior year, affected by price increases and relatively stable raw material and labor costs[91](index=91&type=chunk) - Interest expense increased by **$670 thousand** due to higher borrowings for seasonal working capital and increased interest rates[93](index=93&type=chunk) [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) - The company's liquidity is significantly impacted by the extreme seasonality of the education furniture market, with **50% of annual sales** shipped from June to August, requiring substantial inventory build-up and financing of accounts receivable[95](index=95&type=chunk) - Accounts Receivable increased by **$24,306 thousand** and Inventory increased by **$10,625 thousand** at July 31, 2023, compared to the prior year, financed by increased borrowing under the PNC Bank line of credit and vendor credit[96](index=96&type=chunk)[97](index=97&type=chunk) - The revolving credit line with PNC Bank was amended (Amendment No 3) to increase the borrowing limit to **$72.5 million** during the peak seasonal period (June-August 2023)[99](index=99&type=chunk)[100](index=100&type=chunk) - The company was in compliance with its debt covenants as of July 31, 2023, and management believes cash flows from operations and unused borrowing capacity will be sufficient for the next twelve months[101](index=101&type=chunk)[102](index=102&type=chunk) [Off Balance Sheet Arrangements](index=25&type=section&id=Off%20Balance%20Sheet%20Arrangements) - The company has no off-balance sheet arrangements[103](index=103&type=chunk) [Critical Accounting Policies and Estimates](index=25&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) - The company's critical accounting policies are outlined in its Annual Report on Form 10-K for the fiscal year ended January 31, 2023[104](index=104&type=chunk) [Forward-Looking Statements](index=25&type=section&id=Forward-Looking%20Statements) - Forward-looking statements are subject to risks and uncertainties, including funding for educational institutions, material/labor costs, demand, competition, capital costs, and general economic conditions[105](index=105&type=chunk) - The company assumes no duty to update forward-looking statements to reflect new, changed, or unanticipated events or circumstances[106](index=106&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) As a smaller reporting company, Virco Mfg Corporation is not required to provide these disclosures - The company is a smaller reporting company and is therefore not required to provide quantitative and qualitative disclosures about market risk[107](index=107&type=chunk) [Item 4. Controls and Procedures](index=25&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes in internal control over financial reporting [Evaluation of Disclosure Controls and Procedures](index=25&type=section&id=Evaluation%20of%20Disclosure%20Controls%20and%20Procedures) - The company's Principal Executive Officer and Principal Financial Officer concluded that disclosure controls and procedures were **effective** as of July 31, 2023, ensuring timely and accurate reporting[108](index=108&type=chunk) [Changes in Internal Control Over Financial Reporting](index=26&type=section&id=Changes%20in%20Internal%20Control%20Over%20Financial%20Reporting) - There have been **no material changes** in the company's internal control over financial reporting during the fiscal quarter ended July 31, 2023[111](index=111&type=chunk) [PART II. Other Information](index=27&type=section&id=Part%20II.%20Other%20Information) This part covers legal proceedings, risk factors, equity sales, and other required disclosures [Item 1. Legal Proceedings](index=27&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ordinary course legal actions not expected to have a material financial impact - The company is a party to various legal actions arising in the ordinary course of business[114](index=114&type=chunk) - Management believes the ultimate outcome of all such matters will **not materially affect** the Company's financial position, results of operations or cash flows[114](index=114&type=chunk) [Item 1A. Risk Factors](index=27&type=section&id=Item%201A.%20Risk%20Factors) Risk factors have not materially changed from those disclosed in the company's latest Annual Report on Form 10-K - The risk factors associated with the company's business have **not materially changed** compared to the risk factors disclosed in the Form 10-K[115](index=115&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=27&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities or use of proceeds during the reporting period - None[116](index=116&type=chunk) [Item 3. Defaults Upon Senior Securities](index=27&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities during the reporting period - None[117](index=117&type=chunk) [Item 4. Mine Safety Disclosures](index=27&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[118](index=118&type=chunk) [Item 5. Other Information](index=27&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated a Rule 10b5-1 trading arrangement during the quarter - No director or officer adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement" during the fiscal quarter ended July 31, 2023[119](index=119&type=chunk) [Item 6. Exhibits](index=27&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including agreements, plans, and required certifications - Exhibit 10.1: Amendment No 3 to Amended and Restated Revolving Credit and Security Agreement, effective May 5, 2023[120](index=120&type=chunk) - Exhibit 10.2: 2019 Omnibus Equity Incentive Plan, amended and restated as of May 19, 2023[120](index=120&type=chunk) - Exhibits 31.1, 31.2, and 32.1 include certifications from the Chief Executive Officer and Principal Financial Officer as required by the Sarbanes-Oxley Act[120](index=120&type=chunk)
Virco(VIRC) - 2024 Q1 - Quarterly Report
2023-06-12 17:04
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended April 30, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File number 1-8777 VIRCO MFG. CORPORATION (Exact Name of Registrant as Specified in its Charter) Delaware 95-1613718 (State or Other Jurisdiction of Incorp ...
Virco(VIRC) - 2023 Q4 - Annual Report
2023-04-28 18:52
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Commission file number 1-8777 FORM 10-K (Mark One) ☑ Annual Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the fiscal year ended January 31, 2023 ☐ Transition Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 VIRCO MFG. CORPORATION For the transition period from to (Exact name of registrant as specified in its charter) | Delaware | 95-1613718 | | --- | --- | | (State or ot ...