secwatch.observer — SEC 8-K summary
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Issuer:     VIRCO MFG CORPORATION (VIRC)
CIK:        0000751365
Form:       8-K
Filed at:   2023-12-08T23:59:59+00:00
Accession:  0001628280-23-041135
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/751365/000162828023041135/0001628280-23-041135-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/751365/000162828023041135/virc-20231208.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-041135

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