Virco reports 8.7% revenue growth, operating loss down 72%; shipments+backlog hits record $167.9M

VIRCO MFG CORPORATION

2024-Q1 EPS reported -$0.09 revenue$34,943,000

Q1 net sales $34.9M, up 8.7% YoY; operating loss narrowed to $1.3M from $4.7M (72.3% improvement).
Shipments + backlog as of May 31 reached record $167.9M, a 16.4% increase from $144.3M year ago.
SG&A flat at $14.5M; interest expense rose to $0.7M from $0.4M due to higher rates and borrowing.
CEO cites robust recovery in education and expects a busy summer delivering record backlog.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VIRCO MFG CORPORATION reported the quarterly period ended April 30, 2023 (first quarter of fiscal 2024) results: revenue $34.9 million.

Period: the quarterly period ended April 30, 2023 (first quarter of fiscal 2024)
Revenue: $34.9 million
Result: reported results

Exact text from the filing

today reported financial results for the quarterly period ended April 30, 2023 (first quarter of fiscal 2024). Net Sales were $34.9 million for the first quarter of fiscal 2024, a 8.7% increase from $32.1 million for the same period of the prior fiscal year.

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Source: SEC EDGAR

accession 0001628280-23-021826

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