VIRCO MFG CORPORATION — fact timeline

VIRCO MFG CORPORATION shareholders approved Ratification of Appointment of Baker Tilly US, LLP as independent registered public accounting firm at the 2026-06-16 meeting.

“The proposal to ratify the selection of Baker Tilly US, LLP as the Company’s independent registered public accounting firm for the fiscal year ending January 31, 2027 was approved. The votes regarding this proposal were as follows: Votes For Votes Against Abstain 13,686,159 12,159 9,696”

VIRCO MFG CORPORATION shareholders approved Advisory Vote on Compensation of Executive Officers at the 2026-06-16 meeting.

“The proposal to approve, on an advisory basis, the compensation of the Company’s named executive officers was approved. The votes regarding this proposal were as follows: Votes For Votes Against Abstain Broker Non-Votes 11,187,154 21,680 19,201 2,479,979”

VIRCO MFG CORPORATION shareholders approved Election of Directors at the 2026-06-16 meeting.

“Stockholders elected Craig L. Levra and Robert R. Lind, the Company’s nominees for Class I director, for a term expiring at the 2029 Annual Meeting of Stockholders, with the number of votes cast for and withheld and broker non-votes set forth below: Votes For Votes Withheld Broker Non-Votes Craig L. Levra 9,338,778 1,889,257 2,479,979 Robert R. Lind 10,734,056 493,979 2,479,979”

VIRCO MFG CORPORATION reported fourth quarter ended January 31, 2026 results: revenue $26.2 million.

“For the fourth quarter alone, total revenue was $26.2 million, a decrease of 8.1% from $28.5 million in the same period last year.”

VIRCO MFG CORPORATION reported fourth quarter and fiscal year ended January 31, 2026 results: revenue $199.7 million, net income $2.6 million.

“For the full fiscal year ended January 31, 2026, net income was $2.6 million on total revenue of $199.7 million.”

VIRCO MFG CORPORATION reported fourth quarter and fiscal year ended January 31, 2024 results: revenue $269.1 million, net income $21.9 million.

“Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. --- EX-99.1 (EX-99.1) --- Virco Reports Full Year Revenue Increased 16.5% to $269.1 million, delivering 32.4% growth in Net Income. • U.S. Factories and experienced staff support broad school recovery and related demand for school furniture • Vertical control of”

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

“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”

VIRCO MFG CORPORATION reported first six months of last year to $142,264,000 this year results: revenue $142,264,000.

“Year-to-date, revenue increased 23.8% from $114,881,000 in the first six months of last year to $142,264,000 this year.”

VIRCO MFG CORPORATION reported the quarterly period ended July 31, 2023 (second quarter of fiscal 2024) results: revenue $107,321,000.

“Virco Mfg. Corporation today reported that revenue for the second quarter ended July 31 grew 30% YOY from $82,797,000 to $107,321,000”

VIRCO MFG CORPORATION shareholders approved Ratification of Appointment of Moss Adams LLP at the 2023-06-20 meeting.

“The proposal to ratify the selection of Moss Adams LLP as the Company’s independent registered public accounting firm for the fiscal year ending January 31, 2024 was approved. The votes regarding this proposal were as follows: Votes For Votes Against Abstain 10,389,215 15,546 402”

VIRCO MFG CORPORATION shareholders approved Advisory Vote on the Frequency of Future Say-on-Pay Votes at the 2023-06-20 meeting.

“The proposal to approve, on an advisory basis, the frequency of future Say-on-Pay votes received the following votes: Votes For 1 Year Votes For 2 Years Votes For 3 Years Abstain Non-Votes 3,829,972 15,938 5,334,907 17,653 1,206,693”

VIRCO MFG CORPORATION shareholders approved Advisory Vote on Named Executive Officer Compensation at the 2023-06-20 meeting.

“The proposal to approve, on an advisory basis, the compensation of the Company’s named executive officers was approved. The votes regarding this proposal were as follows: Votes For Votes Against Abstain Non-Votes 8,223,877 970,313 4,280 1,206,693”

VIRCO MFG CORPORATION shareholders approved Election of Class III Director at the 2023-06-20 meeting.

“Stockholders elected Bradley Richardson, the Company’s nominee for Class III director, for a term expiring at the 2025 Annual Meeting of Stockholders, with the number of votes cast for and withheld and broker non-votes set forth below: Votes For Votes Withheld Broker Non-Votes Bradley Richardson 8,987,317 211,153 1,206,693”

VIRCO MFG CORPORATION shareholders approved Election of Class I Directors at the 2023-06-20 meeting.

“Stockholders elected Craig L. Levra and Robert R. Lind, the Company’s nominees for Class I director, for a term expiring at the 2026 Annual Meeting of Stockholders, with the number of votes cast for and withheld and broker non-votes set forth below: Votes For Votes Withheld Broker Non-Votes Craig L. Levra 8,009,077 1,189,393 1,206,693 Robert R. Lind 8,280,105 918,365 1,206,693”

VIRCO MFG CORPORATION reported the quarterly period ended April 30, 2023 (first quarter of fiscal 2024) results: revenue $34.9 million.

“today reported financial results for the quarterly period ended April 30, 2023 (first quarter of fiscal 2024). Net Sales were $34.9 million for the first quarter of fiscal 2024, a 8.7% increase from $32.1 million for the same period of the prior fiscal year.”

VIRCO MFG CORPORATION amended revolving credit of $72,500,000 with PNC Bank, National Association at Increase in the Applicable Margin (as defined in the Credit Agreement) of 25 bas.

“On May 19, 2023, Virco Mfg. Corporation (the “Company”) and Virco Inc., a wholly owned subsidiary of the Company (together with the Company, the “Borrowers”), entered into Amendment No. 3 to Amended and Restated Revolving Credit and Security Agreement (“Amendment No. 3”) with PNC Bank, National Association, as administrative agent and lender (“PNC”), with an effective date of May 5, 2023. Amendment No. 3 amended the Amended and Restated Revolving Credit and Security Agreement, dated September 28, 2021 (the “Credit Agreement”), by and among PNC and the Borrowers and the secured revolving line of credit provided to the Borrowers under the Credit Agreement (the “Revolving Credit Facility”) to reflect the following material changes: i. Maximum size of the Revolving Credit Facility has been increased to $72,500,000 during the months of June through August of 2023, to provide additional availability for the Company's forecast through the 2023 peak borrowing period; ii. Increase in the total”

VIRCO MFG CORPORATION amended Amendment No. 3 to Amended and Restated Revolving Credit and Security Agreement with PNC Bank, National Association (effective 2023-05-19).

“On May 19, 2023, Virco Mfg. Corporation (the “Company”) and Virco Inc., a wholly owned subsidiary of the Company (together with the Company, the “Borrowers”), entered into Amendment No. 3 to Amended and Restated Revolving Credit and Security Agreement (“Amendment No. 3”) with PNC Bank, National Association, as administrative agent and lender (“PNC”), with an effective date of May 5, 2023.”

VIRCO MFG CORPORATION reported the fourth quarter ended January 31, 2023 results: revenue $38.8 million.

“Net revenue in the Company’s seasonally light fourth quarter declined to $38.8 million compared to $40.1 million in the same period last year.”

VIRCO MFG CORPORATION reported the fiscal year ended January 31, 2023 results: revenue $231.1 million.

“Net sales for the full fiscal year ended January 31, 2023 was $231.1 million, a 25.0% increase from $184.8 million in the prior fiscal year.”

VIRCO MFG CORPORATION reported the nine months ended October 31, 2022 results: revenue $192.3 million, EPS $0.77.

“Through nine months, net revenue increased 32.9% to $192.3 million from $144.7 million last year. Gross margin improved to 37.6% from 34.8%. SG&A through nine months declined to 29.7% from 31.8%. Operating income through nine months was up 3.6 times, from $4.3 million last year to $15.2 million this year. Interest expense through nine months was $1.7 million vs. $1.0 million in the prior year, due to a combination of higher revenue and higher interest rates. As a percent of sales, interest was 0.9% through nine months vs. 0.7% in the same period last year. For the nine months ended October 31, 2022 and 2021, the effective income tax rates were 2.6% and 22.2%, respectively. The change in effective tax rates for the nine months ended October 31, 2022, was primarily due to the recording of a valuation allowance needed for federal deferred tax assets and certain state net operating loss carryforwards which commenced in the fourth quarter of fiscal year ended January 31, 2022 and continued”

VIRCO MFG CORPORATION reported the third quarter ended October 31, 2022 results: revenue $77.4 million, net income $7.9 million.

“Virco Mfg. Corporation (Nasdaq: VIRC) reported today that net revenue for the Company’s third quarter ended October 31, 2022 increased 35.0% to $77.4 million compared to $57.3 million in the same period of the prior year. While last year’s operations were constrained by supply chain and staffing challenges, the conclusion of this year’s summer delivery season was notable for improved efficiencies across most levels of the Company’s vertical business model. Gross margin for the third quarter was 39.8%, up from 35.4% in the same period of the prior year. The improvement in gross margin was due to a combination of higher volume and previously implemented price increases, which partially offset the ongoing impacts of inflation. SG&A declined to 28.4% from 31.0% in the prior year. Operating income improved proportionately to $8.8 million from $2.5 million in the prior year. After interest and taxes, total net income for the third quarter was $7.9 million vs. $1.3 million for the same period”

VIRCO MFG CORPORATION: Reduced the authorized number of directors from eight to seven and eliminated a board seat following the passing of a director (effective 2022-12-06).

“on December 6, 2022 the Board approved a reduction in the authorized number of directors on the Board from eight to seven persons pursuant to an amendment to Section 2.01 of the Company’s Third Amended and Restated Bylaws, and elimination of Mr. Rudkin’s Class III Board seat.”