VIRCO MFG CORPORATION (VIRC) FY2025 10-K Annual Report
VIRCO MFG CORPORATION (VIRC) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Apr 14, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
VIRCO MFG CORPORATION FY2025 10-K Analysis
Business Overview
- • Core business: Design, manufacture, and distribute moveable educational and institutional furniture across U.S. markets
- • New product emphasis: Expansion of Healthy Movement line with R2M Sit-to-Stand Workstation and Topaz Series® classroom collection launched
- • Strategic shift: Enhanced full-service offerings with “one-stop shopping” for FF&E via product line expansion and third-party purchases
- • Notable metric: Approximately 810 full-time employees operating 1.1M sq. ft. fabrication and 1.2M sq. ft. assembly/warehouse facilities
- • Lease extension: Five-year lease renewal through Sept 2030 on 560,000 sq. ft. Torrance, CA headquarters and manufacturing facility
Management Discussion & Analysis
- • Revenue impacted by $23M disaster recovery orders in FY2025, shipped as $9M (Q1), $4M (Q2), $6M (Q3), $4M (Q4), boosting seasonal sales cycle
- • Operating margin not explicitly stated; increased selling prices offset volatile commodity costs in FY2023; cost stability in FY2024 and FY2025 noted
- • Education segment primary; shipped ~47%-49% annual revenue in summer months; no explicit segment profit figures provided
- • Domestic manufacturing footprint cited as competitive advantage amid tariffs and supply volatility; inventory built to service seasonal demand
- • FY2026 outlook: risks from new U.S. tariffs on imports (10%-34%+, steel tariffs 25%), commodity cost volatility, and price increase challenges impacting profitability
Risk Factors
- • Environmental compliance risk with potential substantial costs under unspecified environmental laws
- • Self-insured product liability exposure up to $250,000 per occurrence for fiscal 2025
- • Dependence on insurance market conditions affecting cost-effective coverage availability beyond $30 million limit
- • Ongoing product quality and safety programs reducing liability but operational risks remain in manufacturing plants
- • No material off-balance sheet arrangements affecting fiscal 2025 financial transparency
VIRCO MFG CORPORATION FY2025 Key Financial MetricsXBRL
Revenue
$266M
▼ -1.1% YoY
Net Income
$22M
▼ -1.2% YoY
Gross Margin
43.1%
▼ -5bp YoY
Operating Margin
10.5%
▼ -138bp YoY
Net Margin
8.1%
▼ -1bp YoY
ROE
19.8%
▼ -422bp YoY
Total Assets
$192M
▲ +31.1% YoY
EPS (Diluted)
$1.32
▼ -1.5% YoY
Operating Cash Flow
$33M
▲ +22.9% YoY
Source: XBRL data from VIRCO MFG CORPORATION FY2025 10-K filing on SEC EDGAR. All figures in USD.
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