secwatch.observer — SEC 8-K summary
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Issuer:     VIRCO MFG CORPORATION (VIRC)
CIK:        0000751365
Form:       8-K
Filed at:   2021-12-14T23:59:59+00:00
Accession:  0001628280-21-024966
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Virco Q3 net income down 70% to $0.08 EPS; record backlog $45.1M but margins squeezed
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- Q3 net sales $57.3M flat YoY; net income $1.3M ($0.08 diluted) vs $4.5M ($0.28) last year.
- Gross margin fell to 35.4% from 38.9% due to higher raw material and freight costs.
- Nine-month revenue up 7.6% to $144.7M; net income $1.2M ($0.07) vs $3.3M ($0.21).
- Record unshipped backlog of $45.1M at Nov 30; shipments+backlog $205.7M vs $158.7M in 2020.
- CEO cites supply chain issues but output improving; price increases secured for next year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/751365/000162828021024966/0001628280-21-024966-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/751365/000162828021024966/virc-20211213.htm
  HTML page:      https://secwatch.observer/filing/0001628280-21-024966

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer