Virco reports Q3 net income $10.16M (+29%); revenue $84.25M; reinstates dividend, $5M buyback

VIRCO MFG CORPORATION

2024-Q3 EPS reported $1.48 revenue$226,516,000

Q3 sales $84.25M (+9% YoY); gross margin 45.4% vs 39.8% LY; operating income $14.71M (+67.1%).
Net income $10.16M, up 29% from $7.88M in prior-year quarter.
Reinstated quarterly dividend of $0.02/share, payable Jan 10, 2024 to holders of record Dec 22, 2023.
Board authorized $5M open-market share repurchase program; no time limit, at management's discretion.
YTD sales $226.5M (+17.8%); YTD operating income $34.65M (more than doubled from $15.23M).

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

VIRCO MFG CORPORATION reported third quarter ended October 31, 2023 results: revenue $84,252,000, net income $10,160,000.

Period: third quarter ended October 31, 2023
Revenue: $84,252,000
Net income: $10,160,000
Result: reported results

Exact text from the filing

reinstatement of a quarterly dividend of $0.02 per share and a $5,000,000 open market share repurchase program. For the third quarter ended October 31, 2023, sales increased to $84,252,000 compared to $77,395,000 in the same period of the prior year. Gross margin improved to 45.4% from 39.8%. SG&A as a percent of sales decreased slightly to 27.9% versus 28.4% in the

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Source: SEC EDGAR

accession 0001628280-23-041135

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