Virco Mfg. (NASDAQ:VIRC) Posts Quarterly Earnings Results, Misses Expectations By $0.20 EPS

Virco Mfg. (NASDAQ:VIRC - Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.20), Zacks reports. Virco Mfg. had a return on equity of 24.63% and a net margin of 8.93%. The business had revenue of $28.47 million for the quarter, compared to the consensus estimate of $43.00 million.

Virco Mfg. Trading Up 1.6 %

Shares of VIRC traded up $0.16 on Friday, reaching $10.42. 77,665 shares of the company's stock were exchanged, compared to its average volume of 187,510. Virco Mfg. has a 12 month low of $8.52 and a 12 month high of $18.50. The stock has a market capitalization of $169.73 million, a P/E ratio of 6.72 and a beta of 0.41. The company has a current ratio of 2.88, a quick ratio of 1.70 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $10.11 and a two-hundred day moving average price of $11.95.

Virco Mfg. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Wednesday, March 26th were issued a dividend of $0.025 per share. The ex-dividend date was Wednesday, March 26th. This represents a $0.10 annualized dividend and a yield of 0.96%. Virco Mfg.'s dividend payout ratio is currently 7.46%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Virco Mfg. from a "hold" rating to a "buy" rating in a research report on Monday, April 14th.

Virco Mfg. announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 21st that allows the company to buyback $10.00 million in shares. This buyback authorization allows the company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

About Virco Mfg.

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.