VIRCO MFG CORPORATION (VIRC) Form 10-Q — Sep 4, 2026
Virco Mfg. reported fiscal Q2 net income of $8.6 million on net sales of $87.5 million, down from $10.2 million on $92.1 million a year earlier, a 5.0% sales decline. Gross margin compressed to 40.0% from 44.4% on lower volumes and higher material and overhead costs. For the six months ended July 31, 2026, net income fell to $5.8 million from $10.9 million on sales of $118.2 million, down 6.1%, as macro uncertainty around state and local school budgets weighed on demand.
Key figures
- Eps
- $0.55 basic and diluted (Q2); $0.37 (six months)
- Revenue
- $87.5 million (fiscal Q2, three months ended 7/31/2026); $118.2 million (six months ended 7/31/2026)
- Net Income
- $8.6 million (Q2); $5.8 million (six months)
- Total Debt
- 3745000
- Revenue Yoy
- -5.0% (Q2); -6.1% (six months); approximately -4% for six months excluding disaster-recovery shipment comparison
- Total Assets
- 192166000
- Cash Position
- 9212000
- Interest Rate
- 8.25% on revolver at 7/31/2026 (margin of 2.50%-3.00% plus SOFR)
- Maturity Date
- September 3, 2031 (amended PNC revolving credit facility)
- Shares Outstanding
- 15763815
- Backlog change
- +13% vs July 31, 2025
- Q2 gross margin
- 40.0% vs 44.4% prior year
- Buyback remaining
- $7.0 million board-authorized
- Dividend declared
- $0.025 per share payable October 9, 2026
- Revolver capacity
- $40.0 million, expandable to $60.0 million
- Credit availability
- $57.0 million available for borrowing at 7/31/2026
- Q2 effective tax rate
- 23.3% vs 28.1% prior year
- Shares repurchased ytd
- 31,598 shares for $190,000
- Six month gross margin
- 40.4% vs 45.2% prior year
- Equipment loan sublimit
- $3.0 million
- Restricted payments limit
- $8.0 million per fiscal year
- Tariffs paid pending refund
- $1.0 million of IEEPA tariffs
Price after filing
Close on the filing date to close N calendar days later (from $6.05). Historical, not a forecast.
AI analysis
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