Virco Reports $700,000 Q1 Profit Amid Slowing Demand for School Furniture

Virco Mfg. Corporation reported a $700,000 profit in Q1 2025, a decline from $2.1 million in the same period last year. Shipments and backlog decreased 22.9% to $105.6 million, while gross margin improved 400 basis points to 47.5%. The board declared a quarterly dividend of $0.025 per share and the company repurchased $4.0 million worth of shares and distributed $0.4 million in dividends.