secwatch.observer — SEC 8-K summary
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Issuer:     VIRCO MFG CORPORATION (VIRC)
CIK:        0000751365
Form:       8-K
Filed at:   2022-04-21T23:59:59+00:00
Accession:  0001628280-22-009864
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Virco Q4 revenue +119% to $40.1M but pre-tax loss $5.2M; record backlog; credit facility extended
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- Preliminary Q4 net sales $40.1M (+119% YoY); FY net sales $184.8M (+21% YoY).
- Q4 pre-tax loss $5.2M vs $6.5M loss prior year; FY pre-tax loss $3.7M vs $3.0M loss.
- Q4 gross margin improved to 26.5% from 24.8%; FY margin fell to 33.0% from 36.0%.
- Record backlog: Shipments+Backlog at $85.1M on Mar 31, 2022, up 63% YoY; orders accelerated.
- Extended credit facility to $70M, maturity to April 2027; waived Jan 2022 covenant violation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/751365/000162828022009864/0001628280-22-009864-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/751365/000162828022009864/virc-20220415.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-009864

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