2024 Q2 Form 10-K Financial Statement

#000162828024016004 Filed on April 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2024
Revenue $46.74M $42.60M $269.1M
YoY Change 33.75% 9.83% 16.47%
Cost Of Revenue $26.39M $26.53M $153.1M
YoY Change 21.37% 2.94% 5.03%
Gross Profit $20.35M $16.07M $116.1M
YoY Change 54.12% 23.48% 35.99%
Gross Profit Margin 43.54% 37.72% 43.13%
Selling, General & Admin $17.38M $18.84M $84.18M
YoY Change 19.72% 8.24% 12.99%
% of Gross Profit 85.4% 117.25% 72.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.334M $1.334M $5.097M
YoY Change 11.63% 15.8% 12.22%
% of Gross Profit 6.56% 8.3% 4.39%
Operating Expenses $17.38M $18.84M $84.18M
YoY Change 19.72% 8.24% 12.99%
Operating Profit $2.971M -$2.771M $31.88M
YoY Change -326.45% -36.91% 194.12%
Interest Expense $208.0K $483.0K -$1.629M
YoY Change -70.79% -339.11% -182.31%
% of Operating Profit 7.0% -5.11%
Other Income/Expense, Net -$107.0K -$385.0K -$1.008M
YoY Change -33.54% 131.93% 23.53%
Pretax Income $2.871M -$2.673M $29.24M
YoY Change -252.23% -43.84% 263.55%
Income Tax $731.0K -$331.0K $7.330M
% Of Pretax Income 25.46% 25.07%
Net Earnings $2.140M -$2.342M $21.91M
YoY Change -248.4% -157.46% 32.41%
Net Earnings / Revenue 4.58% -5.5% 8.14%
Basic Earnings Per Share $0.13 $1.34
Diluted Earnings Per Share $0.13 -$0.14 $1.34
COMMON SHARES
Basic Shares Outstanding 16.35M shares 16.30M shares
Diluted Shares Outstanding 16.39M shares 16.39M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $644.0K $5.286M $5.286M
YoY Change 3.04% 400.09% 400.09%
Cash & Equivalents $644.0K $5.300M
Short-Term Investments
Other Short-Term Assets $3.974M $2.188M $2.188M
YoY Change 47.29% 5.04% 5.04%
Inventory $71.33M $58.37M $58.37M
Prepaid Expenses
Receivables $19.77M $23.16M $23.16M
Other Receivables $66.00K $20.00K $20.00K
Total Short-Term Assets $95.79M $89.03M $89.03M
YoY Change -8.64% -0.05% -0.05%
LONG-TERM ASSETS
Property, Plant & Equipment $34.07M $41.08M $41.08M
YoY Change -1.71% 18.85% -8.07%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.631M $16.34M $16.34M
YoY Change 8.85% 90.57% -0.2%
Total Long-Term Assets $56.68M $57.42M $57.42M
YoY Change -7.21% -5.96% -5.96%
TOTAL ASSETS
Total Short-Term Assets $95.79M $89.03M $89.03M
Total Long-Term Assets $56.68M $57.42M $57.42M
Total Assets $152.5M $146.4M $146.4M
YoY Change -8.11% -2.45% -2.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.20M $12.95M $12.95M
YoY Change -18.73% -33.44% -33.44%
Accrued Expenses $22.21M $25.19M $25.19M
YoY Change -1.53% 16.01% 16.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $250.0K $248.0K $248.0K
YoY Change -98.77% -96.63% -96.63%
Total Short-Term Liabilities $41.66M $38.53M $38.53M
YoY Change -37.39% -20.59% -20.59%
LONG-TERM LIABILITIES
Long-Term Debt $6.766M $4.136M $4.136M
YoY Change -52.76% -71.25% -71.25%
Other Long-Term Liabilities $12.41M $12.60M $12.60M
YoY Change -32.35% 2169.91% -34.23%
Total Long-Term Liabilities $19.18M $16.73M $16.73M
YoY Change -41.3% -50.11% -50.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.66M $38.53M $38.53M
Total Long-Term Liabilities $19.18M $16.73M $16.73M
Total Liabilities $60.84M $55.27M $55.27M
YoY Change -38.68% -32.66% -32.66%
SHAREHOLDERS EQUITY
Retained Earnings -$27.24M -$29.05M
YoY Change -47.7% -42.63%
Common Stock $162.0K $121.5M
YoY Change 0.0% 0.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $91.64M $91.18M $91.18M
YoY Change
Total Liabilities & Shareholders Equity $152.5M $146.4M $146.4M
YoY Change -8.11% -2.45% -2.45%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2024
OPERATING ACTIVITIES
Net Income $2.140M -$2.342M $21.91M
YoY Change -248.4% -157.46% 32.41%
Depreciation, Depletion And Amortization $1.334M $1.334M $5.097M
YoY Change 11.63% 15.8% 12.22%
Cash From Operating Activities -$4.507M $4.687M $26.96M
YoY Change -61.53% -189.4% -811.72%
INVESTING ACTIVITIES
Capital Expenditures $1.088M $643.0K $5.248M
YoY Change -29.03% -10.45% 57.5%
Acquisitions
YoY Change
Other Investing Activities $147.0K $489.0K $489.0K
YoY Change
Cash From Investing Activities -$941.0K -$154.0K -$4.759M
YoY Change -38.62% -78.55% 42.83%
FINANCING ACTIVITIES
Cash Dividend Paid $327.0K $327.0K
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $13.11M $59.40M
YoY Change 469.78% 40.26%
Cash From Financing Activities $806.0K -4.134M -17.97M
YoY Change -93.71% -185.36% -363.6%
NET CHANGE
Cash From Operating Activities -$4.507M 4.687M 26.96M
Cash From Investing Activities -$941.0K -154.0K -4.759M
Cash From Financing Activities $806.0K -4.134M -17.97M
Net Change In Cash -$4.642M 399.0K 4.229M
YoY Change 974.54% -135.69% -1500.33%
FREE CASH FLOW
Cash From Operating Activities -$4.507M $4.687M $26.96M
Capital Expenditures $1.088M $643.0K $5.248M
Free Cash Flow -$5.595M $4.044M $21.71M
YoY Change -57.77% -167.84% -404.94%

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CY2023 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
122000 usd
CY2024 virc Noncash Lease Income Expense
NoncashLeaseIncomeExpense
694000 usd
CY2023 virc Noncash Lease Income Expense
NoncashLeaseIncomeExpense
543000 usd
CY2024 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
56000 usd
CY2024 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-4000 usd
CY2023 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
2000 usd
CY2024 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
800000 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-8711000 usd
CY2024 us-gaap Share Based Compensation
ShareBasedCompensation
595000 usd
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
612000 usd
CY2024 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
-375000 usd
CY2023 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
-70000 usd
CY2024 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
4000 usd
CY2023 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-437000 usd
CY2024 us-gaap Payment To Acquire Life Insurance Policy Operating Activities
PaymentToAcquireLifeInsurancePolicyOperatingActivities
14000 usd
CY2023 us-gaap Payment To Acquire Life Insurance Policy Operating Activities
PaymentToAcquireLifeInsurancePolicyOperatingActivities
78000 usd
CY2024 us-gaap Gain Loss On Investments
GainLossOnInvestments
1050000 usd
CY2023 us-gaap Gain Loss On Investments
GainLossOnInvestments
194000 usd
CY2024 virc Surrender Of Life Insurance Policies
SurrenderOfLifeInsurancePolicies
634000 usd
CY2023 virc Surrender Of Life Insurance Policies
SurrenderOfLifeInsurancePolicies
0 usd
CY2024 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4726000 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
720000 usd
CY2024 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-48000 usd
CY2023 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-50000 usd
CY2024 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-9035000 usd
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
20033000 usd
CY2024 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
213000 usd
CY2023 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
141000 usd
CY2024 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
94000 usd
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
106000 usd
CY2024 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-4016000 usd
CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4022000 usd
CY2024 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
26960000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3788000 usd
CY2024 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5248000 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3332000 usd
CY2024 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0 usd
CY2023 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
7280000 usd
CY2024 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0 usd
CY2023 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
4536000 usd
CY2024 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
489000 usd
CY2023 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
2744000 usd
CY2024 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4759000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3332000 usd
CY2024 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
42036000 usd
CY2023 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
49579000 usd
CY2024 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
59396000 usd
CY2023 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
42348000 usd
CY2024 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
110000 usd
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
213000 usd
CY2024 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
175000 usd
CY2023 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
200000 usd
CY2024 us-gaap Payments Of Dividends
PaymentsOfDividends
327000 usd
CY2023 us-gaap Payments Of Dividends
PaymentsOfDividends
0 usd
CY2024 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17972000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6818000 usd
CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4229000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-302000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1057000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1359000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5286000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1057000 usd
CY2024 us-gaap Interest Paid Net
InterestPaidNet
2679000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
1979000 usd
CY2024 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6316000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
67000 usd
CY2024Q1 virc Property Plant And Equipment Includedin Ap And Accrued Expense
PropertyPlantAndEquipmentIncludedinAPAndAccruedExpense
493000 usd
CY2023Q1 virc Property Plant And Equipment Includedin Ap And Accrued Expense
PropertyPlantAndEquipmentIncludedinAPAndAccruedExpense
634000 usd
CY2024 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2024 virc Period Of Manufacturing Operations
PeriodOfManufacturingOperations
P74Y
CY2024 virc Percent Of Annual Revenue June July And August
PercentOfAnnualRevenueJuneJulyAndAugust
0.50
CY2024 us-gaap Use Of Estimates
UseOfEstimates
Preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities - and disclosure of contingent assets and liabilities - at the date of the consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Estimates made by management include, but are not limited to, valuation of inventory; recoverability of deferred tax assets and liabilities; useful lives of property, plant and equipment; liabilities under pension, warranty, self-insurance, and environmental claims; and the accounts receivable allowance for credit losses.
CY2024 us-gaap Fiscal Period
FiscalPeriod
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fiscal years 2024 and 2023 refer to the fiscal years ended January 31, 2024 and 2023, respectively.</span></div>
CY2024 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
Financial instruments, which potentially subject the Company to concentrations of credit risk consist principally of accounts receivable. The Company performs ongoing credit evaluations of its customers and maintains allowances for potential credit losses. Sales to the Company’s recurring customers are generally made on open account with terms consistent with the industry. Credit is extended based on an evaluation of the customer’s financial condition and payment history. Past due accounts are determined based on how recently payments have been made in relation to the terms granted. Amounts are written off against the allowance in the period that the Company determines that the receivable is not collectable. The Company purchases insurance on receivables from certain commercial customers to minimize the Company’s credit risk. The Company does not typically obtain collateral to secure credit risk. Customers with inadequate credit are required to provide cash in advance or letters of credit. The Company does not assess interest on receivable balances. A substantial percentage of the Company’s receivables come from low-risk government entities. No customer accounted for more than 10% of the Company's accounts receivable at January 31, 2024 and 2023. Because of the short time between shipment and collection, the net carrying value of receivables approximates the fair value for these assets. No customer exceeded 10% of the Company’s net sales for fiscal years ended January 31, 2024 and 2023. Foreign net sales were approximately 4.7% and 4.4% of the Company’s net sales for fiscal years 2024 and 2023, respectively.
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5300000 usd
CY2024Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
18861000 usd
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
25740000 usd
CY2024Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
25047000 usd
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
25303000 usd
CY2024Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
14463000 usd
CY2023Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
16363000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
58371000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
67406000 usd
CY2024 us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
1800000 usd
CY2023 us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
2000000 usd
CY2024Q1 virc Property Plant And Equipment Includedin Ap And Accrued Expense
PropertyPlantAndEquipmentIncludedinAPAndAccruedExpense
493000 usd
CY2023Q1 virc Property Plant And Equipment Includedin Ap And Accrued Expense
PropertyPlantAndEquipmentIncludedinAPAndAccruedExpense
634000 usd
CY2024Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
212000 usd
CY2023Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
205000 usd
CY2023Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
205000 usd
CY2022Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
198000 usd
CY2024 us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
0 usd
CY2023 us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
0 usd
CY2024 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
7000 usd
CY2023 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
7000 usd
CY2024Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
212000 usd
CY2023Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
205000 usd
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2024 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2024 us-gaap Net Income Loss
NetIncomeLoss
21910000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
16547000 usd
CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16295000 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16142000 shares
CY2024 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
93000 shares
CY2023 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
50000 shares
CY2024 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16388000 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16192000 shares
CY2024 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.34
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.03
CY2024 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.34
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.02
CY2024 us-gaap Advertising Expense
AdvertisingExpense
1400000 usd
CY2023 us-gaap Advertising Expense
AdvertisingExpense
1200000 usd
CY2024Q1 us-gaap Prepaid Advertising
PrepaidAdvertising
432000 usd
CY2023Q1 us-gaap Prepaid Advertising
PrepaidAdvertising
355000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
350000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
350000 usd
CY2024Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
150000 usd
CY2023Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
250000 usd
CY2023Q1 virc Assumed Discount Rate Self Insurance Accrual
AssumedDiscountRateSelfInsuranceAccrual
0.0400
CY2024Q1 virc Assumed Discount Rate Self Insurance Accrual
AssumedDiscountRateSelfInsuranceAccrual
0.0400
CY2024Q1 us-gaap Self Insurance Reserve
SelfInsuranceReserve
770000 usd
CY2024Q1 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
120000 usd
us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
122000000 usd
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2360000 usd
CY2022Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-6029000 usd
CY2024 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
679000 usd
CY2023 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
3162000 usd
CY2024 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
371000 usd
CY2023 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
507000 usd
CY2024 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1050000 usd
CY2023 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-3669000 usd
CY2024Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1310000 usd
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2360000 usd
CY2024 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
371000 usd
CY2023 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
507000 usd
CY2024 virc Shippingand Classroom Delivery Costs
ShippingandClassroomDeliveryCosts
27200000 usd
CY2023 virc Shippingand Classroom Delivery Costs
ShippingandClassroomDeliveryCosts
23800000 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
4384000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
21744000 usd
CY2024Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
248000 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
7360000 usd
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4136000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
14384000 usd
CY2023Q2 virc Dividend Payable Maximum Amount In Fiscal Year
DividendPayableMaximumAmountInFiscalYear
3000000 usd
CY2024Q1 virc Line Of Credit Facility Borrowing Capacity Term
LineOfCreditFacilityBorrowingCapacityTerm
15000000.0 usd
CY2024Q1 virc Increase Decrease In Inventory Sublimit Under Credit Agreement
IncreaseDecreaseInInventorySublimitUnderCreditAgreement
35000000 usd
CY2024 virc Lineof Credit Facility Periodfor Reduced Borrowingsduring Fourth Quarterof Each Fiscal Year
LineofCreditFacilityPeriodforReducedBorrowingsduringFourthQuarterofEachFiscalYear
P30D
CY2024 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.00375
CY2023 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.00375
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
248000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
258000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
269000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
280000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
291000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
3038000 usd
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4384000 usd
CY2024Q1 us-gaap Liability For Future Policy Benefits Life
LiabilityForFuturePolicyBenefitsLife
1300000 usd
CY2023Q1 us-gaap Liability For Future Policy Benefits Life
LiabilityForFuturePolicyBenefitsLife
1600000 usd
CY2024Q1 us-gaap Defined Benefit Plan Assets For Plan Benefits Noncurrent
DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
5800000 usd
CY2023Q1 us-gaap Defined Benefit Plan Assets For Plan Benefits Noncurrent
DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
4700000 usd
CY2024 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
676000 usd
CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
631000 usd
CY2024Q1 us-gaap Defined Benefit Plan Expected Future Employer Contributions Next Fiscal Year
DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear
386000 usd
CY2024Q1 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditAfterTax
-1300000 usd
CY2023Q4 virc Defined Benefit Plan Plan Assets Sold
DefinedBenefitPlanPlanAssetsSold
5300000 usd
CY2023Q4 virc Defined Benefit Plan Plan Assets Proceeds Used To Purchase Annuities Number Of Participants
DefinedBenefitPlanPlanAssetsProceedsUsedToPurchaseAnnuitiesNumberOfParticipants
49 participant
CY2023Q4 virc Defined Benefit Plan Plan Assets Proceeds Used To Purchase Annuities Number Of Vested Terminated Participants
DefinedBenefitPlanPlanAssetsProceedsUsedToPurchaseAnnuitiesNumberOfVestedTerminatedParticipants
89 participant
CY2024Q1 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
1600000 usd
CY2024Q1 us-gaap Cash Surrender Value Of Life Insurance
CashSurrenderValueOfLifeInsurance
1100000 usd
CY2023Q1 us-gaap Cash Surrender Value Of Life Insurance
CashSurrenderValueOfLifeInsurance
1500000 usd
CY2024Q1 virc Life Insurance Death Benefits Payable
LifeInsuranceDeathBenefitsPayable
2800000 usd
CY2023Q1 virc Life Insurance Death Benefits Payable
LifeInsuranceDeathBenefitsPayable
3000000 usd
CY2023Q1 us-gaap Liability For Future Policy Benefits
LiabilityForFuturePolicyBenefits
1643000 usd
CY2022Q1 us-gaap Liability For Future Policy Benefits
LiabilityForFuturePolicyBenefits
1616000 usd
CY2024 us-gaap Liability For Future Policy Benefits Period Expense
LiabilityForFuturePolicyBenefitsPeriodExpense
25000 usd
CY2023 us-gaap Liability For Future Policy Benefits Period Expense
LiabilityForFuturePolicyBenefitsPeriodExpense
27000 usd
CY2024 us-gaap Liability For Future Policy Benefits Payment For Benefits
LiabilityForFuturePolicyBenefitsPaymentForBenefits
200000 usd
CY2023 us-gaap Liability For Future Policy Benefits Payment For Benefits
LiabilityForFuturePolicyBenefitsPaymentForBenefits
0 usd
CY2024Q1 us-gaap Liability For Future Policy Benefits
LiabilityForFuturePolicyBenefits
1468000 usd
CY2023Q1 us-gaap Liability For Future Policy Benefits
LiabilityForFuturePolicyBenefits
1643000 usd
CY2024 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
595000 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
612000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
229000 usd
CY2024 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P0Y3M18D
CY2024 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
800000 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-8711000 usd
CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7330000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-8504000 usd
CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2024 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
6140000 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1689000 usd
CY2024 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1346000 usd
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
746000 usd
CY2024 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-613000 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-10546000 usd
CY2024 virc Income Tax Reconciliation State Rate Adjustment
IncomeTaxReconciliationStateRateAdjustment
164000 usd
CY2023 virc Income Tax Reconciliation State Rate Adjustment
IncomeTaxReconciliationStateRateAdjustment
6000 usd
CY2024 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
34000 usd
CY2023 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
35000 usd
CY2024 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
16000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-397000 usd
CY2024 virc Effective Income Tax Rate Reconciliation Expirationof Attributes Amount
EffectiveIncomeTaxRateReconciliationExpirationofAttributesAmount
56000 usd
CY2023 virc Effective Income Tax Rate Reconciliation Expirationof Attributes Amount
EffectiveIncomeTaxRateReconciliationExpirationofAttributesAmount
17000 usd
CY2024 virc Effective Income Tax Rate Reconciliation Permanent Differences Amount
EffectiveIncomeTaxRateReconciliationPermanentDifferencesAmount
69000 usd
CY2023 virc Effective Income Tax Rate Reconciliation Permanent Differences Amount
EffectiveIncomeTaxRateReconciliationPermanentDifferencesAmount
-13000 usd
CY2024 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
118000 usd
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-41000 usd
CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7330000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-8504000 usd
CY2024 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
5567000 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
82000 usd
CY2024 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
963000 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
125000 usd
CY2024 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
6530000 usd
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
207000 usd
CY2024 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
301000 usd
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1524000 usd
CY2024 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1112000 usd
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
311000 usd
CY2024 virc Deferred Income Tax Expense Benefit Domestic And State And Local
DeferredIncomeTaxExpenseBenefitDomesticAndStateAndLocal
1413000 usd
CY2023 virc Deferred Income Tax Expense Benefit Domestic And State And Local
DeferredIncomeTaxExpenseBenefitDomesticAndStateAndLocal
1835000 usd
CY2024 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-613000 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-10546000 usd
CY2024Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsCompensatedAbsences
2143000 usd
CY2023Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsCompensatedAbsences
1925000 usd
CY2024Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions
2391000 usd
CY2023Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions
2729000 usd
CY2024Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Self Insurance
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsSelfInsurance
197000 usd
CY2023Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Self Insurance
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsSelfInsurance
325000 usd
CY2024Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
128000 usd
CY2023Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
156000 usd
CY2024Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
599000 usd
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
1949000 usd
CY2024Q1 virc Deferred Tax Assets Right Of Use Liabilities
DeferredTaxAssetsRightOfUseLiabilities
1935000 usd
CY2023Q1 virc Deferred Tax Assets Right Of Use Liabilities
DeferredTaxAssetsRightOfUseLiabilities
3087000 usd
CY2024Q1 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
1878000 usd
CY2023Q1 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
1820000 usd
CY2024Q1 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
536000 usd
CY2023Q1 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
401000 usd
CY2024Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
9807000 usd
CY2023Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
12392000 usd
CY2024Q1 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
882000 usd
CY2023Q1 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
987000 usd
CY2024Q1 virc Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
1663000 usd
CY2023Q1 virc Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
2630000 usd
CY2024Q1 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
377000 usd
CY2023Q1 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
111000 usd
CY2024Q1 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
2922000 usd
CY2023Q1 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
3728000 usd
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
251000 usd
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
864000 usd
CY2024Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
6634000 usd
CY2023Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
7800000 usd
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
251000 usd
CY2024 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-613000 usd
CY2024Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
0 usd
CY2024Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
9000000 usd
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
864000 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-10500000 usd
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
2700000 usd
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
25100000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
62000 usd
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
57000 usd
CY2024 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
8000 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 usd
CY2024 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 usd
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
5000 usd
CY2024 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
33000 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
19000 usd
CY2024 virc Unrecognized Tax Benefits Decrease Related To Lapsing Of Statute Of Limitations
UnrecognizedTaxBenefitsDecreaseRelatedToLapsingOfStatuteOfLimitations
11000 usd
CY2023 virc Unrecognized Tax Benefits Decrease Related To Lapsing Of Statute Of Limitations
UnrecognizedTaxBenefitsDecreaseRelatedToLapsingOfStatuteOfLimitations
9000 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
92000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
62000 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
92000 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
73000 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
37000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
16000 usd
CY2024Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
7000 usd
CY2024Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2024 us-gaap Operating Lease Cost
OperatingLeaseCost
5099000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
5174000 usd
CY2024 us-gaap Short Term Lease Cost
ShortTermLeaseCost
421000 usd
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
388000 usd
CY2024 us-gaap Sublease Income
SubleaseIncome
40000 usd
CY2023 us-gaap Sublease Income
SubleaseIncome
40000 usd
CY2024 us-gaap Variable Lease Cost
VariableLeaseCost
983000 usd
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
883000 usd
CY2024 us-gaap Lease Cost
LeaseCost
6463000 usd
CY2023 us-gaap Lease Cost
LeaseCost
6405000 usd
CY2024 virc Cashpaidforamountsincludedinthemeasurementofleaseliabilities
Cashpaidforamountsincludedinthemeasurementofleaseliabilities
5793000 usd
CY2023 virc Cashpaidforamountsincludedinthemeasurementofleaseliabilities
Cashpaidforamountsincludedinthemeasurementofleaseliabilities
5716000 usd
CY2024 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
873000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
545000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0636
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0630
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6037000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1772000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
142000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
0 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
0 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
0 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7951000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5744000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1829000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
7573000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
378000 usd
CY2024 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
Contingencies<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company and other furniture manufacturers are subject to federal, state, and local laws and regulations relating to the discharge of materials into the environment and the generation, handling, storage, transportation and disposal of waste and hazardous materials. The Company has expended, and expects to continue to spend, significant amounts in the future to comply with environmental laws. Normal recurring expenses relating to operating the Company factories in a manner that meets or exceeds environmental laws are matched to the cost of producing inventory. Despite the Company’s significant dedication to operating in compliance with applicable laws, there is a risk that the Company could fail to comply with a regulation or that applicable laws and regulations change. On these occasions, the Company records liabilities for remediation costs when remediation costs are probable and can be reasonably estimated.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to contingencies pursuant to environmental laws and regulations that in the future may require the Company to take action to correct the effects on the environment of prior disposal practices or releases of chemical or petroleum substances by the Company or other parties. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has a self-insured retention for product liability losses up to $250,000 per occurrence, workers’ compensation liability losses up to $250,000 per occurrence, general liability losses up to $50,000 and automobile liability losses up to </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$50,000 per occurrence. The Company has purchased insurance to cover losses in excess of the retention up to a limit of $30.0 million. The Company has obtained an actuarial estimate of its total expected future losses for liability claims and recorded a liability equal to the net present value of $770,000 and $1.3 million at January 31, 2024 and 2023, respectively, based upon the Company’s estimated payout period of five years using a 4.0% discount rate for both years.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Workers’ compensation, automobile, general and product liability claims may be asserted in the future for events not currently known by management. Management does not anticipate that any related settlement, after consideration of the existing reserve for claims incurred and potential insurance recovery, would have a material adverse effect on the Company’s financial position, results of operations or cash flows. Estimated payments under the self-insurance programs are as follows (in thousands):</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:81.988%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.812%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year ending January 31,</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2025</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">120 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2026</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">170 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2027</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">170 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2028</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">170 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2029</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">170 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Thereafter</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">800 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Discount to net present value</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(30)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">770 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Less current portion</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(120)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current portion</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">650 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company and its subsidiaries are defendants in various legal proceedings resulting from operations in the normal course of business. It is the opinion of management, in consultation with legal counsel, that the ultimate outcome of all such matters will not materially affect the Company’s financial position, results of operations or cash flows.</span></div>
CY2024Q1 us-gaap Self Insurance Reserve
SelfInsuranceReserve
770000 usd
CY2023Q1 us-gaap Self Insurance Reserve
SelfInsuranceReserve
1300000 usd
CY2024 virc Self Insurance Estimated Payout Period
SelfInsuranceEstimatedPayoutPeriod
P5Y
CY2023Q1 virc Assumed Discount Rate Self Insurance Accrual
AssumedDiscountRateSelfInsuranceAccrual
0.040
CY2024Q1 virc Assumed Discount Rate Self Insurance Accrual
AssumedDiscountRateSelfInsuranceAccrual
0.040
CY2024Q1 virc Estimated Self Insurance Payments Next Twelve Months
EstimatedSelfInsurancePaymentsNextTwelveMonths
120000 usd
CY2024Q1 virc Estimated Self Insurance Payments Due In Two Years
EstimatedSelfInsurancePaymentsDueInTwoYears
170000 usd
CY2024Q1 virc Estimated Self Insurance Payments Due In Three Years
EstimatedSelfInsurancePaymentsDueInThreeYears
170000 usd
CY2024Q1 virc Estimated Self Insurance Payments Due In Four Years
EstimatedSelfInsurancePaymentsDueInFourYears
170000 usd
CY2024Q1 virc Estimated Self Insurance Payments Due In Five Years
EstimatedSelfInsurancePaymentsDueInFiveYears
170000 usd
CY2024Q1 virc Estimated Self Insurance Payments Due Thereafter
EstimatedSelfInsurancePaymentsDueThereafter
0 usd
CY2024Q1 virc Estimated Self Insurance Payments Gross
EstimatedSelfInsurancePaymentsGross
800000 usd
CY2024Q1 virc Present Value Of Estimated Self Insurance Payments Discounted
PresentValueOfEstimatedSelfInsurancePaymentsDiscounted
30000 usd
CY2024Q1 virc Estimated Self Insurance Payments Net
EstimatedSelfInsurancePaymentsNet
770000 usd
CY2024Q1 virc Estimated Self Insurance Payments Net Current
EstimatedSelfInsurancePaymentsNetCurrent
120000 usd
CY2024Q1 virc Estimated Self Insurance Payments Net Noncurrent
EstimatedSelfInsurancePaymentsNetNoncurrent
650000 usd
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
600000 usd
CY2022Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
600000 usd
CY2024 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
400000 usd
CY2023 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
350000 usd
CY2024 virc Product Warranty Warrants Issued Prior Year
ProductWarrantyWarrantsIssuedPriorYear
285000 usd
CY2023 virc Product Warranty Warrants Issued Prior Year
ProductWarrantyWarrantsIssuedPriorYear
140000 usd
CY2024 us-gaap Product Warranty Expense
ProductWarrantyExpense
215000 usd
CY2023 us-gaap Product Warranty Expense
ProductWarrantyExpense
210000 usd
CY2024Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
500000 usd
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
600000 usd
CY2024Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
150000 usd
CY2023Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
250000 usd
CY2024Q1 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
350000 usd
CY2023Q1 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
350000 usd

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