VIRCO MFG CORPORATION — Form 8-K
Filed September 4, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 42/100
What the filing says
Virco reported H1 2026 (ended 7/31/26) net sales of $118.2M, down 6.1% from $125.8M YoY; Q2 sales $87.5M vs. $92.1M prior year. Operating income H1 was $6.9M (down from $15.3M YoY) but Q2 at $10.5M remained above long-term average. Net income H1 fell 46.5% to $5.8M from $10.9M; Q2 fell 15.4% to $8.6M from $10.2M. Management attributes decline to school budget cycle uncertainties but notes recent positive demand trends post-budget approval. Board declared $0.025/share quarterly dividend (payable 10/9/26 to holders of record 9/18/26). Gross margin remains strong at 40.4% YTD; current ratio 2.5; shipments plus backlog $162.5M. No debt increase; cash $9.2M vs. $14.4M at FY end.
Why this rating
6.1% revenue decline and 46.5% H1 net income drop are material for $101M market-cap company, but offset by maintained profitability, strong margins (40.4%), and management confidence in emerging market opportunities from U.S. manufacturing cost parity.
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