10-Q Filing

VIRCO MFG CORPORATION CIK: 751365 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-265823`
Period End Date	20120430
Filing Date	20120611
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	virc-20120430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 145 Income Statement 21 Cash Flow Statement 46 Comprehensive Income 6

Balance Sheet 145 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Cash	`Cash`	$2.90M	USD	Point-in-time
Cash	`Cash`	$1.53M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`Cash`	$1.96M	USD	Point-in-time
Cash	`Cash`	$768.00K	USD	Point-in-time
Trade accounts receivables, net	`AccountsReceivableNetCurrent`	$12.74M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Trade accounts receivables, net	`AccountsReceivableNetCurrent`	$10.04M	USD	Point-in-time
Trade accounts receivables, net	`AccountsReceivableNetCurrent`	$9.01M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$51.00K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$76.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$401.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$316.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$345.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$324.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.20M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.38M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.35M	shares	Point-in-time
Finished goods, net	`InventoryFinishedGoodsNetOfReserves`	$6.27M	USD	Point-in-time
Finished goods, net	`InventoryFinishedGoodsNetOfReserves`	$13.93M	USD	Point-in-time
Finished goods, net	`InventoryFinishedGoodsNetOfReserves`	$11.49M	USD	Point-in-time
Work in process, net	`InventoryWorkInProcessNetOfReserves`	$10.62M	USD	Point-in-time
Work in process, net	`InventoryWorkInProcessNetOfReserves`	$18.55M	USD	Point-in-time
Work in process, net	`InventoryWorkInProcessNetOfReserves`	$24.80M	USD	Point-in-time
Raw materials and supplies, net	`InventoryRawMaterialsAndPurchasedPartsNetOfReserves`	$12.78M	USD	Point-in-time
Raw materials and supplies, net	`InventoryRawMaterialsAndPurchasedPartsNetOfReserves`	$9.87M	USD	Point-in-time
Raw materials and supplies, net	`InventoryRawMaterialsAndPurchasedPartsNetOfReserves`	$10.89M	USD	Point-in-time
Total inventories	`InventoryNet`	$51.50M	USD	Point-in-time
Total inventories	`InventoryNet`	$27.79M	USD	Point-in-time
Total inventories	`InventoryNet`	$39.91M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.61M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.02M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$64.72M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$45.81M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$53.88M	USD	Point-in-time
Land	`Land`	$1.67M	USD	Point-in-time
Land	`Land`	$1.67M	USD	Point-in-time
Land	`Land`	$1.67M	USD	Point-in-time
Land improvements	`LandImprovements`	$1.21M	USD	Point-in-time
Land improvements	`LandImprovements`	$1.44M	USD	Point-in-time
Land improvements	`LandImprovements`	$1.21M	USD	Point-in-time
Buildings and building improvements	`BuildingsAndImprovementsGross`	$47.80M	USD	Point-in-time
Buildings and building improvements	`BuildingsAndImprovementsGross`	$47.80M	USD	Point-in-time
Buildings and building improvements	`BuildingsAndImprovementsGross`	$47.80M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$120.18M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$119.60M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$120.48M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$2.70M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$2.55M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$2.55M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$173.71M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$173.41M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$173.20M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$131.64M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$135.37M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$134.20M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$39.21M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$41.56M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$38.34M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$2.60M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$2.20M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$2.19M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.98M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.41M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.01M	USD	Point-in-time
Total assets	`Assets`	$115.29M	USD	Point-in-time
Total assets	`Assets`	$94.22M	USD	Point-in-time
Total assets	`Assets`	$101.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.35M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.68M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$3.80M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$4.26M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$3.62M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$11.65M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$12.28M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$5.50M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesCurrent`	$1.40M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$6.20M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$5.54M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$4.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$38.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.84M	USD	Point-in-time
Accrued self-insurance retention	`SelfInsuranceReserveCurrent`	$1.92M	USD	Point-in-time
Accrued self-insurance retention	`SelfInsuranceReserveCurrent`	$2.51M	USD	Point-in-time
Accrued self-insurance retention	`SelfInsuranceReserveCurrent`	$2.56M	USD	Point-in-time
Accrued pension expenses	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$25.07M	USD	Point-in-time
Accrued pension expenses	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$25.17M	USD	Point-in-time
Accrued pension expenses	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$17.94M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesNoncurrent`	$496.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesNoncurrent`	$731.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesNoncurrent`	$488.00K	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$7.50M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$6.01M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$6.01M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesNoncurrent`	$2.92M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesNoncurrent`	$3.01M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesNoncurrent`	$3.00M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$31.74M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$36.49M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$37.10M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Authorized 3,000,000 shares, $.01 par value; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Authorized 3,000,000 shares, $.01 par value; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Authorized 3,000,000 shares, $.01 par value; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Authorized 25,000,000 shares, $.01 par value; issued 14,377,393 at 04/30/2012, 14,354,046 shares at 01/31/2012 and 14,204,998 at 04/30/2011	`CommonStockValue`	$142.00K	USD	Point-in-time
Authorized 25,000,000 shares, $.01 par value; issued 14,377,393 at 04/30/2012, 14,354,046 shares at 01/31/2012 and 14,204,998 at 04/30/2011	`CommonStockValue`	$144.00K	USD	Point-in-time
Authorized 25,000,000 shares, $.01 par value; issued 14,377,393 at 04/30/2012, 14,354,046 shares at 01/31/2012 and 14,204,998 at 04/30/2011	`CommonStockValue`	$144.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$115.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$115.06M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$114.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-68.98M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-73.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-60.02M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.33M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-9.74M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$30.90M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$44.49M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.29M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$94.22M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$115.29M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$101.40M	USD	Point-in-time

Income Statement 21 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$24.26M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$23.67M	USD	1 Quarter
Costs of goods sold	`CostOfGoodsSold`	$16.70M	USD	1 Quarter
Costs of goods sold	`CostOfGoodsSold`	$17.48M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.97M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.78M	USD	1 Quarter
Selling, general, administrative & other expenses	`SellingGeneralAndAdministrativeExpense`	$11.94M	USD	1 Quarter
Selling, general, administrative & other expenses	`SellingGeneralAndAdministrativeExpense`	$11.53M	USD	1 Quarter
Interest expense	`InterestExpense`	$255.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$214.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.37M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.82M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$28.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$16.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.83M	USD	1 Quarter
Net loss per common share-Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.34	USD	1 Quarter
Net loss per common share-Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.38	USD	1 Quarter
Weighted average shares outstanding-Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	14.30M	shares	Point-in-time
Weighted average shares outstanding-Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	14.21M	shares	Point-in-time
Cash	`CommonStockDividendsPerShareCashPaid`	$0.05	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.83M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.30M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$15.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-35.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$18.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$260.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$199.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-409.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.77M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-117.00K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-325.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$16.13M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$12.12M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxes`	$16.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxes`	$22.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$961.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$401.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.61M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.98M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-12.24M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.39M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$325.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$803.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-803.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-325.00K	USD	1 Quarter
Issuance of debt	`ProceedsFromIssuanceOfDebt`	$19.17M	USD	1 Quarter
Issuance of debt	`ProceedsFromIssuanceOfDebt`	$18.28M	USD	1 Quarter
Repayment of debt	`RepaymentsOfDebt`	$6.53M	USD	1 Quarter
Repayment of debt	`RepaymentsOfDebt`	$11.50M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$356.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.29M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.78M	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-761.00K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-939.00K	USD	1 Quarter
Cash at beginning of period	`Cash`	$2.90M	USD	Point-in-time
Cash at beginning of period	`Cash`	$1.53M	USD	Point-in-time
Cash at beginning of period	`Cash`	$1.96M	USD	Point-in-time
Cash at beginning of period	`Cash`	$768.00K	USD	Point-in-time
Cash at end of period	`Cash`	$2.90M	USD	Point-in-time
Cash at end of period	`Cash`	$1.53M	USD	Point-in-time
Cash at end of period	`Cash`	$1.96M	USD	Point-in-time
Cash at end of period	`Cash`	$768.00K	USD	Point-in-time
Cash dividends declared but not paid	`DividendsPayableAmount`	$355.00K	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.83M	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.83M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-5.40M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.