secwatch.observer — SEC 8-K summary
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Issuer:     VIRCO MFG CORPORATION (VIRC)
CIK:        0000751365
Form:       8-K
Filed at:   2023-06-12T23:59:59+00:00
Accession:  0001628280-23-021826
Event type: earnings
Sentiment:  positive
Materiality: 0.68
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/751365/000162828023021826/0001628280-23-021826-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/751365/000162828023021826/virc-20230612.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-021826

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