Virco Q2 Revenue Falls 5% to $87.5M, Six-Month Net Income Down 46.5%
VIRC sits 19% above its 52-week low of $5.155 on light trading volume (0.2× avg).
Summary
Virco reported Q2 FY2027 revenue of $87.5M, down 5% from $92.1M a year ago, and six-month revenue of $118.2M, a 6.1% decline. Operating income fell to $10.5M in Q2 from $15.4M, and six-month net income dropped 46.5% to $5.8M from $10.9M. Management attributes the decline to cautious school spending amid budget uncertainties, though recent trends show slight improvement after new budgets were approved. The company declared a $0.025 quarterly dividend, payable October 9. This follows a weak Q1 report and an insider purchase by EVP Douglas Virtue in July, suggesting management sees value despite the downturn.
At the time of this announcement, VIRC was trading at $6.11 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $95.2M. The 52-week trading range was $5.16 to $8.90. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.