TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Virco Manufacturing ( (VIRC) ) has shared an announcement.
Virco Mfg. Corporation reported a mixed financial performance for the third quarter of 2024 with a slight decline in revenue but a notable increase in gross profit for the first nine months. Despite higher SG&A expenses, the company maintained a strong balance sheet, supported by effective cash flow management and reduced inventory levels. The return to traditional seasonal patterns in the school furniture market helped stabilize order rates, while strategic investments in manufacturing processes and potential acquisitions are expected to enhance future growth. The company declared a quarterly dividend and remains committed to maximizing shareholder returns.
For an in-depth examination of VIRC stock, go to TipRanks’ Stock Analysis page.