Filing Analysis
Virco Mfg. Corporation reported the results of its 2026 Annual Meeting of Stockholders held on June 16, 2026. Stockholders elected two Class I directors, approved executive compensation on an advisory basis, and ratified the appointment of Baker Tilly US, LLP as the independent auditor.
📋 Key Facts
- Annual Meeting held on June 16, 2026.
- 13,708,014 shares were present or represented by proxy out of 15,729,543 shares entitled to vote.
- Craig L. Levra and Robert R. Lind were elected as Class I directors for terms expiring in 2029.
- Executive compensation was approved with 11,187,154 votes in favor.
- Baker Tilly US, LLP was ratified as the independent registered public accounting firm for the fiscal year ending January 31, 2027.
Virco Mfg. Corporation announced its financial results for the first quarter ended April 30, 2026, and declared a quarterly cash dividend of $0.025 per share.
📋 Key Facts
- Q1 financial results for the period ended April 30, 2026, were released on June 3, 2026.
- Board of Directors declared a cash dividend of $0.025 per share on June 2, 2026.
- Dividend record date is June 19, 2026, with payment scheduled for July 10, 2026.
- The company noted that future dividends are subject to Board discretion and restrictive covenants in lending agreements.
Virco Mfg. Corporation announced its financial results for the fourth quarter and fiscal year ended January 31, 2026. The disclosure was made through a press release issued on April 8, 2026.
📋 Key Facts
- Announced Q4 and full fiscal year results for the period ended January 31, 2026.
- The report was filed under Item 2.02 (Results of Operations and Financial Condition).
- A press release dated April 8, 2026, was included as Exhibit 99.1.
Virco Mfg. Corporation announced that its Board of Directors has declared a quarterly cash dividend of $0.025 per share. The dividend is scheduled to be paid on April 10, 2026, to stockholders of record as of March 20, 2026.
📋 Key Facts
- Dividend amount is $0.025 per share for the first fiscal quarter.
- Declaration date: March 5, 2026.
- Record date: March 20, 2026.
- Payment date: April 10, 2026.
- Future dividends are subject to board discretion and restrictive covenants in the Company’s lending agreements.
Virco Mfg. Corporation released its third quarter financial results for the period ended October 31, 2025. Additionally, the company announced a quarterly cash dividend of $0.025 per share.
📋 Key Facts
- Third quarter financial results were announced on December 8, 2025 (period ended Oct 31, 2025).
- A cash dividend of $0.025 per share was declared for the fourth fiscal quarter.
- Dividend record date: December 19, 2025; Payment date: January 9, 2026.
- Future dividends are subject to Board discretion and restrictive lending covenants.
Virco Mfg. Corporation announced its second quarter 2025 financial results via press release and declared a quarterly cash dividend of $0.025 per share.
🚩 Red Flags
- Dividend payments are subject to restrictive covenants in the Company’s lending agreements, which could limit future payouts if financial conditions tighten.
📋 Key Facts
- Financial results for the second quarter ended July 31, 2025 were released on September 5, 2025.
- A cash dividend of $0.025 per share was declared by the Board of Directors on September 2, 2025.
- The dividend is payable on October 10, 2025 to stockholders of record as of September 19, 2025.
- Future dividends are subject to Board discretion and restrictive covenants in lending agreements.
Virco Mfg. Corporation reported results from its 2025 Annual Meeting of Stockholders and an update to executive compensation for the CFO.
📋 Key Facts
- The 2025 Annual Meeting of Stockholders was held on June 17, 2025.
- Stockholders elected Bradley Richardson and Douglas A. Virtue to the Board as Class III directors (terms expiring 2028).
- Stockholders ratified Moss Adams LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2026.
- The Compensation Committee approved an increase in base compensation for Bassey Yau (SVP and CFO) to $340,000, effective following her appointment on April 30, 2025.
Virco Mfg. Corporation announced a change in its independent auditor following the merger of Moss Adams LLP with Baker Tilly US, LLP. The company also declared a quarterly cash dividend and released preliminary Q1 financial results.
🚩 Red Flags
- None identified; auditor change is due to a merger rather than disagreement or resignation due to audit issues.
📋 Key Facts
- Moss Adams LLP resigned as the Company's independent auditor due to their merger with Baker Tilly US, LLP.
- Baker Tilly US, LLP has been appointed as the successor independent registered public accounting firm.
- The Board declared a cash dividend of $0.025 per share for the second fiscal quarter.
- Dividend is payable on July 11, 2025, to stockholders of record as of June 20, 2025.
- Company issued a press release regarding financial results for the first quarter ended April 30, 2025.
Virco Mfg. Corporation issued an 8-K to announce its financial results for the fourth quarter and fiscal year ended January 31, 2025.
📋 Key Facts
- Reporting period: Fourth quarter and fiscal year ended January 31, 2025.
- Announcement date: April 14, 2025.
- The filing contains a press release (Exhibit 99.1) detailing the results of operations and financial condition.
Virco Mfg. Corporation announced the retirement of CFO Robert Dose effective April 30, 2025, and the appointment of Bassey Yau as his successor. The company also declared a quarterly cash dividend of $0.025 per share.
🚩 Red Flags
- Succession involves an internal promotion of a long-tenured employee (Bassey Yau), which may indicate continuity but also highlights the departure of a very long-term executive (35 years).
📋 Key Facts
- Robert Dose (CFO and Treasurer) to retire on April 30, 2025, after 35 years with the company.
- Bassey Yau (current SVP Finance/Controller) appointed as successor CFO and Secretary effective upon Dose's retirement.
- A cash dividend of $0.025 per share was declared for the fourth fiscal quarter.
- Dividend record date is March 26, 2025; payable on April 11, 2025.
Virco Mfg. Corporation announced that its Board of Directors has approved a new share repurchase program totaling up to $10,000,000. The program is scheduled to commence on February 1, 2025, and will be funded through existing cash and cash equivalents.
📋 Key Facts
- Board approved a share repurchase program for up to $10,000,000 of Common Stock.
- Repurchase program commencement date: February 1, 2025.
- The program has no specified time limit and is subject to management discretion.
- Funding will be sourced from existing cash and cash equivalents.
- Repurchases may occur via open market purchases or privately negotiated transactions.
Virco Mfg. Corporation issued an 8-K to announce its third quarter financial results for the period ended October 31, 2024 and confirmed a quarterly cash dividend declaration.
🚩 Red Flags
- Dividends are subject to restrictive covenants in the Company's lending agreements (potential limitation on cash distribution).
📋 Key Facts
- Announced Q3 fiscal 2024 financial results (period ended Oct 31, 2024) via press release on Dec 9, 2024.
- Board declared a cash dividend of $0.025 per share for the third fiscal quarter.
- Dividend record date is December 20, 2024; payment date is January 10, 2025.
- Future dividends are subject to Board discretion and restrictive covenants in lending agreements.
Virco Mfg. Corporation issued an 8-K to announce its second quarter financial results for the period ended July 31, 2024 and provided a follow-up on a previously declared dividend.
📋 Key Facts
- Announced Q2 fiscal year 2024 financial results via press release on September 9, 2024.
- Declared a cash dividend of $0.025 per share for the third fiscal quarter.
- Dividend record date is September 20, 2024; payable date is October 11, 2024.
Virco Mfg. Corporation entered into a new lease agreement with Starboard Distribution Center, LLC to extend its tenancy at its 560,000 sq. ft. facility in Torrance, California. The lease extends the term through September 30, 2030, with an option for a further five-year extension.
🚩 Red Flags
- Significant long-term lease obligation (Item 2.03) creates a direct financial obligation.
📋 Key Facts
- Lease covers 560,000 sq. ft. of office, manufacturing, and warehouse space in Torrance, CA.
- Term: 65 months from May 1, 2025, to September 30, 2030.
- Includes a five-year extension option at the Company's discretion.
- Rent structure: 5-month abatement period (May 2025 - Sept 2025), followed by $726,700/month starting Oct 1, 2025.
- Annual rent escalations of 3.5% every 12 months after the initial term.
- Tenant improvement allowance of up to $1,677,000.
Virco Mfg. Corporation held its 2024 Annual Meeting of Stockholders on June 18, 2024. The meeting resulted in the election of three Class II directors and the ratification of Moss Adams LLP as the independent auditor.
📋 Key Facts
- Annual Meeting held on June 18, 2024.
- Total shares entitled to vote: 16,347,314; Shares present/represented: 12,909,738.
- Elected Robert A. Virtue, Kathy Virtue Young, and Agnieszka Winkler as Class II directors for terms expiring in 2027.
- Ratified Moss Adams LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2025.
Virco Mfg. Corporation issued an 8-K to announce its first quarter financial results for the period ended April 30, 2024 and confirmed a quarterly cash dividend declaration.
📋 Key Facts
- Announced Q1 financial results (ended April 30, 2024) via press release on June 7, 2024.
- Board declared a cash dividend of $0.02 per share for the second fiscal quarter.
- Dividend record date is June 21, 2024; payment date is July 12, 2024.
- Company intends to pay dividends quarterly, subject to Board discretion and lending covenants.
Virco Mfg. Corporation issued an 8-K to announce its financial results for the fourth quarter and fiscal year ended January 31, 2024.
📋 Key Facts
- Report date: April 12, 2024
- Reporting period: Fourth quarter and fiscal year ended January 31, 2024
- The filing serves to accompany a press release containing the financial results (Exhibit 99.1).
Virco Mfg. Corporation issued a press release updating its investor presentation to highlight business recovery following pandemic-related school closures. The update includes preliminary, unaudited top-line results for the fiscal year ended January 31, 2024.
🚩 Red Flags
- Use of non-GAAP metrics ('Shipments plus Backlog') can sometimes obscure standardized financial performance, though common in micro-caps.
📋 Key Facts
- Issued an updated investor presentation on April 1, 2024.
- Reported preliminary, unaudited top-line results for Fiscal Year Ended January 31, 2024.
- Introduced a non-GAAP metric: 'Shipments plus Backlog' to represent business velocity.
- The filing is made under Item 7.01 (Regulation FD Disclosure) and does not constitute filed information subject to Section 18 liability.
Virco Mfg. Corporation announced a cash dividend declaration for the first fiscal quarter of 2024.
🚩 Red Flags
- Dividend payments are subject to restrictive covenants in the Company's lending agreements.
📋 Key Facts
- Dividend amount: $0.02 per share of common stock.
- Record date: March 7, 2024.
- Payment date: April 10, 2024.
- The Board intends to pay dividends quarterly, subject to discretion and lending agreement covenants.