Business
Virco Reports Full Year Net Income of $2.6 Million on Revenue of $199.7 Million
Shareholder Distributions Totaled $5.6 Million, Including $1.6 Million of Dividends and $4.0 Million of Share RepurchasesTight Operating and Financial
About this update from Virco Manufacturing Corporation
[{"type":"text","content":"Shareholder Distributions Totaled $5.6 Million, Including $1.6 Million of Dividends and $4.0 Million of Share RepurchasesTight Operating and Financial Controls in PlaceCurrent Ratio Remains Healthy at 3.1Early Order Rates Underscore Normalization of School Furniture Market TORRANCE, Calif., April 08, 2026 (GLOBE NEWSWIRE) -- Virco Mfg. Corporation (NASDAQ: VIRC), a leading manufacturer and supplier of moveable furniture and equipment for educational environments and public spaces, announced results for the Company’s fourth quarter and full fiscal year ended January 31, 2026. For the fourth quarter alone, total revenue was $26.2 million, a decrease of 8.1% from $28.5 million in the same period last year. Operating loss for the quarter was $9.9 million compared to operating loss of $8.1 million in the same period last year. This negative year-over-year comparison of fourth quarter results has continued a pattern established over a year ago, when the market for school furniture entered a downturn caused by the end of COVID-era subsidies and the completion of unusual COVID-related backlogs resulting from supply chain disruptions, labor shortages and other market dislocations, including a large and unique disaster recovery order that temporarily boosted the Company’s offseason and full-year performance. For the full fiscal year ended January 31, 2026, net income was $2.6 million on total revenue of $199.7 million. Despite serious market headwinds, the Company ended the year with $14.4 million in cash and a current ratio of 3.1, positioning it to take advantage of the market recovery that as of this writing appears to be gaining momentum. Over the course of the year, the Company distributed $5.6 million to shareholders through cash dividends and share repurchases. Management believes this performance, in the face of historic macroeconomic headwinds, illustrates the strong operating and financial controls provided by the Company’s vertical business model, as well as the underlying resilience of its core market for public and private school furniture, fixtures and equipment. This market comprises over 60 million end-users: students, teachers and support staff. The Company estimates that at some point in their educational career, some or all of these end users will have utilized Virco furniture. The market dislocations of the COVID-era s...