Virco posts Q1 net loss of $2.8M, revenue falls 9.1%; maintains $0.025 dividend

VIRCO MFG CORPORATION

Net loss of $2.8M vs net income of $0.7M a year ago; revenue $30.7M (down 9.1% from $33.8M).
Gross margin declined to 41.4% from 47.5% due to lower factory output and overhead absorption.
Shipments plus backlog slipped 1.8% to $103.7M; incoming orders roughly flat year-over-year.
Quarterly dividend of $0.025/share declared, payable July 10, 2026, to holders of record June 19, 2026.
Cash on hand rose to $3.7M from $0.9M; $0.2M in buybacks and $0.4M in dividends returned to shareholders.

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