{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-22-031716","form_type":"8-K","ticker":"VIRC","cik":"0000751365","company_name":"VIRCO MFG CORPORATION","filed_at":"2022-12-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:53.499926+00:00","generated_at":"2026-06-21T06:29:34.000192+00:00","sec_items":["2.02","5.02","5.03","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Virco Q3 revenue up 35% to $77.4M, net income $7.9M; director Rudkin passes away","bullets":["Q3 net revenue $77.4M, +35% YoY; net income $7.9M vs $1.3M.","YTD revenue $192.3M (+32.9%), EPS $0.77 vs $0.07; operating income $15.2M (3.6x).","Gross margin improved to 39.8% (Q3) and 37.6% (YTD) from 35.4% and 34.8%.","Director Donald R. Rudkin died Dec 3; board cut to 7; Robert Lind named Audit Chair.","Effective tax rate fell to 2.6% due to valuation allowance on deferred tax assets."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-22-031716","json":"https://secwatch.observer/filing/0001628280-22-031716.json","markdown":"https://secwatch.observer/filing/0001628280-22-031716.md","text":"https://secwatch.observer/filing/0001628280-22-031716.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/751365/000162828022031716/0001628280-22-031716-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/751365/000162828022031716/virc-20221206.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T06:29:34.000192+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2842203f2c8c829a8e55bbb544d413dfa588b03f","claim":"VIRCO MFG CORPORATION reported the nine months ended October 31, 2022 results: revenue $192.3 million, EPS $0.77.","evidence_excerpt":"Through nine months, net revenue increased 32.9% to $192.3 million from $144.7 million last year. Gross margin improved to 37.6% from 34.8%. SG&A through nine months declined to 29.7% from 31.8%. Operating income through nine months was up 3.6 times, from $4.3 million last year to $15.2 million this year. Interest expense through nine months was $1.7 million vs. $1.0 million in the prior year, due to a combination of higher revenue and higher interest rates. As a percent of sales, interest was 0.9% through nine months vs. 0.7% in the same period last year. For the nine months ended October 31, 2022 and 2021, the effective income tax rates were 2.6% and 22.2%, respectively. The change in effective tax rates for the nine months ended October 31, 2022, was primarily due to the recording of a valuation allowance needed for federal deferred tax assets and certain state net operating loss carryforwards which commenced in the fourth quarter of fiscal year ended January 31, 2022 and continued","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/751365/000162828022031716/0001628280-22-031716-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the nine months ended October 31, 2022"},{"label":"Revenue","value":"$192.3 million"},{"label":"EPS","value":"$0.77"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"c4a9ab821e4e20f6bf66705f09ac74ecf21b7609","claim":"VIRCO MFG CORPORATION reported the third quarter ended October 31, 2022 results: revenue $77.4 million, net income $7.9 million.","evidence_excerpt":"Virco Mfg. Corporation (Nasdaq: VIRC) reported today that net revenue for the Company’s third quarter ended October 31, 2022 increased 35.0% to $77.4 million compared to $57.3 million in the same period of the prior year. While last year’s operations were constrained by supply chain and staffing challenges, the conclusion of this year’s summer delivery season was notable for improved efficiencies across most levels of the Company’s vertical business model. Gross margin for the third quarter was 39.8%, up from 35.4% in the same period of the prior year. The improvement in gross margin was due to a combination of higher volume and previously implemented price increases, which partially offset the ongoing impacts of inflation. SG&A declined to 28.4% from 31.0% in the prior year. Operating income improved proportionately to $8.8 million from $2.5 million in the prior year. After interest and taxes, total net income for the third quarter was $7.9 million vs. $1.3 million for the same period","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/751365/000162828022031716/0001628280-22-031716-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the third quarter ended October 31, 2022"},{"label":"Revenue","value":"$77.4 million"},{"label":"Net income","value":"$7.9 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"df5d0ade38fddf60862cf3545231b7a382771479","claim":"VIRCO MFG CORPORATION: Reduced the authorized number of directors from eight to seven and eliminated a board seat following the passing of a director (effective 2022-12-06).","evidence_excerpt":"on December 6, 2022 the Board approved a reduction in the authorized number of directors on the Board from eight to seven persons pursuant to an amendment to Section 2.01 of the Company’s Third Amended and Restated Bylaws, and elimination of Mr. Rudkin’s Class III Board seat.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/751365/000162828022031716/0001628280-22-031716-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"bylaw amendment"},{"label":"Effective","value":"2022-12-06"}],"fact_type":"governance_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}