Revenue Update on Virco Mfg. Corporation(NASDAQ:VIRC)

Virco Mfg. Corporation(NASDAQ:VIRC) announced the earnings results for Fiscal Year 2016 and Q1. The results came in during Pre-market on Jun 10, 2016. Company reported revenue of $20.83M. Analysts estimated a revenue of $23.51M. Earnings per share were $-0.21. Analysts had estimated an EPS of $-0.22.

Virco Mfg. Corporation (VIRC) made into the market gainers list on Wednesdays trading session with the shares advancing 0.25% or 0.01 points. Due to strong positive momentum, the stock ended at $3.94, which is also near the day’s high of $3.94. The stock began the session at $3.94 and the volume stood at 5,858 shares. The 52-week high of the shares is $3.95 and the 52 week low is $2.4401. The company has a current market capitalization of $59 M and it has 1,49,98,187 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Apr 27, 2016, Douglas A Virtue (Executive Vice President) purchased 3,667 shares at $3.19 per share price.Also, On Apr 27, 2016, Robert A Virtue (CEO) purchased 3,608 shares at $3.19 per share price.On Apr 27, 2016, Jerry Scott Bell (COO) sold 7,275 shares at $3.19 per share price, according to the Form-4 filing with the securities and exchange commission.

Virco Mfg. Corporation (Virco) is engaged in the designing producing and distributing of furniture for a diverse family of customers. The Company is a manufacturer and supplier of moveable educational furniture and equipment for the preschool through 12th grade market in the United States. The Company manufactures an assortment of products including mobile tables mobile storage equipment desks computer furniture chairs activity tables folding chairs and folding tables. The Company’s primary furniture lines are constructed of tubular metal legs and frames combined with wood and plastic tops plastic seats and backs upholstered seats and backs and upholstered rigid polyethylene and polypropylene shells. Virco also has flat metal forming capabilities to enable the production of desks returns bookcases filing cabinets mobile pedestals and related items.

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