earnings
confidence high
sentiment positive
materiality 0.70
Virco posts Q2 net income up 5.8% to $3.8M; record backlog of $59.6M
VIRCO MFG CORPORATION
2022-Q2 EPS reported
-$0.01
revenue$87,389,000
- Q2 net sales $59.0M, slight decline from $59.5M YoY; gross margin 37.8% vs 39.0%.
- Diluted EPS $0.24 vs $0.23 YoY; net income $3.8M (5.8% increase).
- Backlog of $59.6M as of Aug 31, 2021, 157% higher than 2020, 198% higher than 2019.
- Six-month net sales $87.4M (+13.1% YoY); net loss narrowed to $149K from $1.1M.
- Stimulus funding driving orders; expects less seasonality and strong H2.