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VIRC - Virco Manufacturing Corp.
$2.67
0.00(0.00%)5:00:00 AM 1/15/2021
The Virco Manufacturing Corporation, more commonly known as Virco is an American furniture manufacturer based in Torrance, California which focuses on providing products for educational markets. The principal products of the company include student desks and activity tables, school and office seating, computer stations, lightweight folding tables, and upholstered chairs. Prior to founding Virco, Julian Virtue had cofounded Virtue Chrome Plating with his brother Philip Virtue in August 1926. This company was quite successful, initially providing custom nickel and chrome plating for furniture manufacturers. By the mid-1930s, the company began to directly manufacture its own furniture from its factory on West Century Boulevard, producing dinette sets for restaurants and consumer homes, chrome-plated chairs for offices, and beauty-parlor equipment. During World War II, the company became a significant supplier of furniture for the military, providing furniture for the sleeping quarters and mess halls of US Navy ships, and thousands of bunkbeds for US Army and Marine barracks. Even after the conclusion of the war, the company remained a significant military contractor, while also expanding further into the consumer furniture market. However, due to a disagreement between the brothers, Julian Virtue left the company. After dividing their assets, Julian got a check for $1,000,000 and Philip continued to run Virtue Brothers.
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    12/23/2020VIRC
    Who Has Been Buying Virco Mfg. Corporation (NASDAQ:VIRC) Shares?

    It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...

    12/14/2020VIRC
    Virco Reports Third Quarter Results

    TORRANCE, Calif., Dec. 14, 2020 (GLOBE NEWSWIRE) -- Virco Mfg. Corporation (NASDAQ: VIRC) today reported its financial results for the third fiscal quarter ended October 31, 2020.  Net sales and earnings continue to be negatively impacted by economic conditions driven by the COVID-19 pandemic.  Net sales for the third quarter were $56,741,000, a 15.3% decline from last year’s $66,998,000.  Through nine months, net sales were $133,625,000 versus $164,250,000 last year, a decline of 18.6%. Operati...

    11/27/2020VIRC
    Is Virco Mfg. Corporation (VIRC) A Good Stock To Buy Now?

    The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn’t the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]

    09/14/2020VIRC
    Virco Announces Second Quarter Results

    * Company maintains safe and successful operations through the pandemic * School closures drive revenue declines in second quarter and year-to-date * Operating results turn positive in August with strong performance by domestic factories and logisticsTORRANCE, Calif., Sept. 14, 2020 (GLOBE NEWSWIRE) -- Virco Mfg. Corporation (Nasdaq: VIRC) reported financial results for its second quarter ended July 31, 2020 in the following letter to shareholders:Negative impacts of the COVID-19 pandemic caus...

    06/12/2020VIRC
    Recap: Virco Manufacturing Q1 Earnings

    Shares of Virco Manufacturing (NASDAQ:VIRC) moved higher by 4% after the company reported Q1 results.Quarterly Results Earnings per share decreased 50.00% year over year to ($0.30), which missed the estimate of ($0.22).Revenue of $17,599,000 declined by 34.56% from the same period last year, which missed the estimate of $26,100,000.Outlook Virco Manufacturing hasn't issued any earnings guidance for the time being.View more earnings on VIRCVirco Manufacturing hasn't issued any revenue guidance fo...

    06/12/2020VIRC
    Virco Reports First Quarter Results

    The effective early end to the 2019-2020 school year in March due to COVID-19 had a severe negative impact on the traditional order and delivery cycle for school furniture. As a result, revenue for the first quarter ended April 30, 2020 declined 35% from the prior year period, from $26,893,000 to $17,599,000.

    04/30/2020VIRC
    Virco Reports Improved Profitability for Fiscal Quarter and Year-Ended January 31, 2020

    Operating income more than doubles on modestly lower revenueDomestic factories and warehouses yield improved efficienciesOrder activity remains stable TORRANCE, Calif.,.