Virco(VIRC)2025-06-06 17:13Financial Performance - Net income for the first quarter was 2.1 million in the same period last year, primarily due to a large disaster recovery order last year [1]. - Net sales for the first quarter were 46.735 million in the same period last year [19]. - Operating loss for the first quarter was 2.971 million in the prior year [19]. Margins and Costs - Gross margin improved to 47.5%, up 400 basis points from 43.5% in the prior year, attributed to lower margins on last year's disaster recovery order and a higher proportion of full-service orders [2]. Shareholder Returns - The company repurchased 0.4 million in cash dividends during the first quarter [7]. - A quarterly dividend of 105.6 million compared to the previous year [3]. - The current year is expected to represent a "pause" in the recovery of the school furniture market post-COVID, but there are hopeful signs for mid-term growth in school construction [10]. - The company maintains an opportunistic stance to navigate challenges and opportunities in the upcoming year [9]. Investments - The company invested over $2.0 million in major platform processes to expand operations and support domestic market expansion [7].