Virco Reports Q4 Loss, Misses Revenue Estimates Amid Challenges

Virco Manufacturing Corporation reported a challenging fourth quarter for fiscal 2024, with adjusted losses of 35 cents per share, significantly wider than analysts' expectations. Revenue for the quarter fell to $28.5 million, missing consensus estimates by 33.8%, largely due to adverse weather conditions and inflationary pressures affecting sales. Despite these setbacks, the company noted a stable gross margin of 43.1% for the fiscal year and a solid net income of $21.6 million, reflecting its long-term investment strategy in domestic manufacturing. Celebrating its 75th anniversary, Virco emphasizes its commitment to the educational sector and aims to leverage its operational resilience to navigate ongoing challenges. Analysts remain optimistic, with a consensus rating indicating a 'Buy' status and a potential upside for its stock price. Overall, Virco is positioning itself for future growth amidst a backdrop of economic uncertainty.