secwatch.observer — SEC 8-K summary
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Issuer:     VIRCO MFG CORPORATION (VIRC)
CIK:        0000751365
Form:       8-K
Filed at:   2022-12-12T23:59:59+00:00
Accession:  0001628280-22-031716
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Virco Q3 revenue up 35% to $77.4M, net income $7.9M; director Rudkin passes away
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/751365/000162828022031716/0001628280-22-031716-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/751365/000162828022031716/virc-20221206.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-031716

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