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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.
