Company profile

Ticker
VIRC
Exchange
Website
CEO
Robert A. Virtue
Employees
Incorporated in
Location
Fiscal year end
SEC CIK
IRS number
951613718

VIRC stock data

(
)

Calendar

12 Jun 20
3 Jul 20
31 Jan 21

News

Company financial data Financial data

Quarter (USD) Apr 20 Jan 20 Oct 19 Jul 19
Revenue 17.6M 26.81M 67M 70.36M
Net income -4.7M -4.31M 3.89M 5.87M
Diluted EPS -0.3 -0.28 0.25 0.38
Net profit margin -26.69% -16.07% 5.81% 8.34%
Operating income -7.03M -7.04M 6.37M 10.18M
Net change in cash -823K 453K -180K 324K
Cash on hand 327K 1.15M 697K 877K
Cost of revenue 12.7M 19.81M 40.15M 41.62M
Annual (USD) Jan 20 Jan 19 Jan 18 Jan 17
Revenue 191.06M 200.72M 189.29M 173.42M
Net income 2.38M -1.61M -3.21M 22.76M
Diluted EPS 0.15 -0.1 -0.21 1.49
Net profit margin 1.25% -0.80% -1.70% 13.12%
Operating income 5.92M 2.33M 5.14M 5.94M
Net change in cash 412K 204K -254K -27K
Cash on hand 1.15M 738K 534K 788K
Cost of revenue 119.39M 133.64M 123.82M 110.87M

Financial data from Virco MFG earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
19 Jun 20 Bell Jerry Scott Common stock $.01 par value Payment of exercise Dispose F 2.58 1,212 3.13K 103,463
19 Jun 20 Bell Jerry Scott Common stock $.01 par value Payment of exercise Dispose F 2.58 1,212 3.13K 102,251
19 Jun 20 Dose Robert E Common stock $.01 par value Payment of exercise Dispose F 2.58 1,357 3.5K 129,127
19 Jun 20 Dose Robert E Common stock $.01 par value Payment of exercise Dispose F 2.58 1,377 3.55K 127,750
19 Jun 20 Quinones Patricia Levine Common stock $.01 par value Payment of exercise Dispose F 2.58 1,212 3.13K 84,635
20.3% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 21 22 -4.5%
Opened positions 1 3 -66.7%
Closed positions 2 4 -50.0%
Increased positions 7 5 +40.0%
Reduced positions 6 5 +20.0%
13F shares
Current Prev Q Change
Total value 6.7M 20.24M -66.9%
Total shares 3.19M 4.77M -33.1%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
D.a. Davidson & Co. 1.03M $2.17M +4.8%
Minerva Advisors 938.41K $1.97M -1.0%
Dimensional Fund Advisors 480.46K $1.01M -1.3%
Renaissance Technologies 209.07K $439K +5.6%
Vanguard 165.91K $348K 0.0%
Wedbush Securities 83.82K $176K -95.1%
BLK BlackRock 74.43K $156K +0.8%
California Public Employees Retirement System 51.48K $108K -6.9%
Bridgeway Capital Management 40.4K $85K +17.4%
NTRS Northern Trust 29.72K $62K 0.0%
Largest transactions
Shares Bought/sold Change
Wedbush Securities 83.82K -1.63M -95.1%
D.a. Davidson & Co. 1.03M +46.89K +4.8%
AMP Ameriprise Financial 0 -30.52K EXIT
Merit Financial 29.4K +29.4K NEW
Renaissance Technologies 209.07K +11.17K +5.6%
Minerva Advisors 938.41K -9.65K -1.0%
Dimensional Fund Advisors 480.46K -6.37K -1.3%
Bridgeway Capital Management 40.4K +6K +17.4%
California Public Employees Retirement System 51.48K -3.8K -6.9%
UBS UBS 3.15K +2.44K +339.9%

Financial report summary

?
Competition
School Specialty
Risks
  • The current health pandemic from the novel coronavirus (COVID-19) has adversely affected our operations and may have material adverse effects on our future business, financial condition and results of operations.
  • Our product sales are significantly affected by education funding, which is a function of tax revenues and general economic conditions. If the economy weakens, funding for education may fail to improve or decrease, which would adversely affect our business and results of operations.
  • Gaps in state budgets may adversely affect our revenue and results of operations.
  • Reduced levels of spending on education may significantly impact spending on furniture and increase price competition in the furniture market. If price competition increases, we may need to reduce our prices to build or maintain our market share, which in turn could lower our profit margins.
  • Our efforts to introduce new products that meet customer requirements may not be successful, which could limit our sales growth or cause our sales to decline.
  • The majority of our sales are generated under annual contracts, which combined with the seasonal nature of our business, may limit our ability to raise prices on a timely basis during a given year in response to increases in costs.
  • We depend on outside suppliers who may be unable to meet our volume and quality requirements, and we may be unable to obtain alternative sources.
  • Increases in basic commodity, raw material and component costs could adversely affect our profitability.
  • We are affected by the cost of petroleum-based products and increases in petroleum prices could reduce our margins and profits.
  • Cost and availability of third-party freight can adversely affect profitability and results of operations.
  • Approximately 60% of our sales are priced through one contract, under which we are the exclusive supplier of classroom furniture.
  • We operate in a seasonal business and require significant amounts of working capital through our existing credit facility to fund acquisitions of inventory, fund expenses for freight and classroom delivery and finance receivables during the summer delivery season. Restrictions imposed by the terms of our existing credit facility may limit our operating and financial flexibility. In addition, there can be no assurance that the Company will meet the requirements of its financial covenants on an ongoing basis or that should it fail to meet such covenants in the future, the agent and lender under the Credit Agreement will agree to waivers or amendments with respect thereto.
  • We may not be able to renew our credit facility on favorable terms, or at all, which would adversely affect our results of operations.
  • If management does not accurately forecast the Company's requirements for the peak summer season, the Company's results of operations could be adversely affected.
  • We may require additional capital in the future, which may not be available or may be available only on unfavorable terms.
  • An inability to protect our intellectual property could have a significant impact on our business.
  • If third parties claim that we infringe upon their intellectual property rights, we may incur liability and costs and may have to redesign or discontinue an infringing product.
  • We could be required to incur substantial costs to comply with environmental and other legal requirements. Violations of, and liabilities under, these laws and regulations may increase our costs or require us to change our business practices.
  • We may not be able to manage our business effectively if we are unable to retain our experienced management team or recruit other key personnel.
  • We are subject to potential labor disruptions, which could have a significant impact on our business.
  • Our insurance coverage may not adequately cover for any product liability claims.
  • Volatility in the equity markets or interest rates could substantially increase our pension costs and have a negative impact on our operating results.
  • Holders of approximately 35% of the shares of our stock have entered into an agreement restricting the sale of the stock.
  • Our corporate documents and Delaware law contain provisions that could discourage, delay or prevent a change in control of our company.
  • Our stock price has historically been volatile, and investors in our common stock could suffer a decline in value.
Management Discussion
  • Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
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