Virco Reports $2.8 Million First Quarter Loss as Demand for School Furniture Slows
Virco Mfg. Corporation reported a $2.8 million net loss for the first quarter ended April 30, 2026, with net sales declining 9.1% year-over-year amid slowing demand for school furniture. Gross margin decreased due to lower factory output and overhead absorption. Demand is stabilizing with order rates roughly flat, but shipments plus backlog decline…