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 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 ...

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 ...

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 ...

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 ...

[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)

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.) ...

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 July 31, 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 Incorpo ...

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 ...

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 ...