secwatch.observer — SEC 8-K summary
======================================

Issuer:     VIRCO MFG CORPORATION (VIRC)
CIK:        0000751365
Form:       8-K
Filed at:   2024-06-07T23:59:59+00:00
Accession:  0001628280-24-027220
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Virco Q1 revenue $46.7M (+33.7%), net income $2.1M vs loss; declares $0.02 dividend
--------------------------------------------------------------------------------

- Revenue increased 33.7% to $46.7M; net income of $2.1M vs a loss of $1.4M in prior-year Q1.
- Gross margin expanded to 43.5% from 37.8% on higher factory output and stable raw material costs.
- Board declared quarterly dividend of $0.02/share, payable July 12, 2024 to holders of record June 21, 2024.
- Completed $1.5M in share repurchases; remaining authorization of $3.5M.
- Revolver borrowings dropped to $2.7M from $30.1M; stockholders' equity rose 37.3% to $91.6M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/751365/000162828024027220/0001628280-24-027220-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/751365/000162828024027220/virc-20240607.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-027220

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