VIRCO MFG CORPORATION

Virco Mfg. Corporation reported a net loss of $2.777 million for the first quarter of fiscal year 2027, a significant downturn from a net income of $732,000 in the same period last year. Net sales also declined to $30.692 million from $33.754 million year-over-year, leading to a widened operating loss of $3.660 million. The company used $9.354 million in operating activities during the quarter. Total assets decreased to $175.478 million as of April 30, 2026.

Virco Mfg. Corporation reported a net loss of $2.8 million for the first quarter ended April 30, 2026, a decline from net income of $0.7 million in the prior year, primarily due to slowing demand for school furniture. Net sales decreased 9.1% to $30.7 million, and gross margin fell to 41.4%. Despite the challenging quarter, the Board of Directors declared a cash dividend of $0.025 per share, payable on July 10, 2026, and the company returned $0.6 million to shareholders through buybacks and dividends.

Virco Mfg. Corporation reported a modest loss in its first quarter ended April 30, 2026, with net sales declining 9.1% to $30.7 million and a net loss of $2.8 million. Gross margin also decreased to 41.4% due to lower revenue and factory output. Despite the financial downturn, the company highlighted a strengthening trend in full-service orders, which management views as a competitive advantage for its domestic factories. The Board declared a quarterly dividend of $0.025 per share, and the company returned $0.6 million to shareholders through buybacks and dividends in the quarter.

Virco Mfg. Corporation announced its 2026 Annual Meeting of Stockholders will take place on June 16, 2026. Key proposals include the election of two Class I directors, an advisory vote on executive compensation, and the ratification of Baker Tilly US, LLP as the independent registered public accounting firm for fiscal year 2027. The record date for stockholders eligible to vote was April 24, 2026.

Virco Mfg. Corporation's Chief Executive Officer, Robert A. Virtue, and Chief Financial Officer, Bassey Yau, have formally certified the company's Annual Report on Form 10-K for the fiscal period ended January 31, 2026. This certification confirms that the report fully complies with Section 13(a) of the Securities Exchange Act of 1934 and fairly presents the company's financial condition and results of operations in all material respects. This is a standard regulatory step, ensuring the accuracy and integrity of the company's annual financial disclosures to investors.

Virco Mfg. Corporation announced its financial results for the full fiscal year ended January 31, 2026, reporting a net income of $2.6 million on total revenue of $199.7 million. For the fourth quarter alone, the company posted revenue of $26.2 million, marking an 8.1% decrease from $28.5 million in the prior year's comparable period. Despite the Q4 revenue dip, Virco emphasized tight operating and financial controls, maintaining a healthy current ratio of 3.1, and highlighted that early order rates suggest a normalization of the school furniture market, providing a positive outlook for future performance. The company also returned $5.6 million to shareholders through dividends and share repurchases during the fiscal year.