Exhibit 99.1
Virco Reports Financial Results for First Quarter of Fiscal 2018
Revenue up 12%
Shipments plus backlog up 19%
Recovery in public school funding continues

Torrance, California-June 12, 2017-Virco Mfg. Corporation today announced results for its first fiscal quarter ended April 30, 2017.

Revenue for the three months ended April 30, 2017 increased 12% to $23,235,000 from $20,827,000 for the same quarter in 2016. The Company’s preferred early-season indicator of overall demand-actual YTD shipments through May plus backlog-was up 25% compared to the prior year. Management believes that the recovery in public school funding seems to be accelerating through the first quarter and into summer, but cautions investors not to read too much into these early-season indicators.

Due to advance preparations for a busy summer delivery season, the Company incurred greater operating and selling costs in the first quarter, impacting gross margin and operating profit. Management considers these preparations to be essential in order for the Company to make timely deliveries before schools open in the fall.

Three Months Ended
(In thousands, except per share data)
Net sales
 $ 23,235
 $ 20,827
Cost of sales
Gross profit
Selling, general administrative & other expense
Operating loss
Interest expense, net
Loss before income taxes
Income tax (expense)
Net loss
 $ (2,211)
 $ (3,138)
Net loss per share - basic
 $ (0.15)
 $ (0.21)
Net loss per share - diluted (a)
 $ (0.15)
 $ (0.21)
Weighted average shares outstanding - basic
Weighted average shares outstanding - diluted (a)
(a) Net loss per share was calculated based on basic shares outstanding due to the anti-dilutive effect on the inclusion of common stock equivalent shares.
Current assets
 $ 68,004
 $ 48,493
 $ 66,070
Non-current assets
Current liabilities
Non-current liabilities
Stockholders' equity

The following information was filed by Virco Mfg Corporation (VIRC) on Monday, June 12, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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