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8-K - FORM 8-K - VIRCO MFG CORPORATION | v59320e8vk.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
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Contact: | Robert A. Virtue, President Douglas A. Virtue, Executive Vice President Robert E. Dose, Chief Financial Officer Virco Mfg. Corporation (310) 533-0474 |
Virco Announces Cash Dividend
Torrance, California, April 21, 2011 Virco Mfg. Corporation (NASDAQ: VIRC) announced the
declaration of a quarterly cash dividend in the following statement from Robert A. Virtue,
President and CEO:
I am pleased to announce that Vircos Board of Directors has declared a regular quarterly dividend
of $0.025 per share payable June 10, 2011, to stockholders of record on May 13, 2011. As always,
payment of a quarterly dividend is predicated on 1) the strength of our balance sheet; 2)
anticipated cash flows; and 3) future cash requirements. Subsequent quarterly dividends will
continue to be paid following a review of these factors and Board approval.
This news release contains forward-looking statements as defined by the Private Securities
Litigation Reform Act of 1995. These statements include, but are not limited to, statements
regarding: new business strategies; the cost and availability of steel and other raw materials; the
costs of utilities and freight; the continuing impact of our Assemble-to-Ship and Equipment for
Educators programs on earnings; market demand and acceptance of new products; development of new
distribution channels; pricing; and seasonality. Forward-looking statements are based on current
expectations and beliefs about future events or circumstances, and you should not place undue
reliance on these statements. Such statements involve known and unknown risks, uncertainties,
assumptions and other factors, many of which are out of our control and difficult to forecast.
These factors may cause actual results to differ materially from those which are anticipated. Such
factors include, but are not limited to: changes in general economic conditions including raw
material, energy and freight costs; the seasonality of our markets; the markets for school and
office furniture generally; the specific markets and customers with which we conduct our principal
business; and the response of competitors to our price increases. See our Annual Report on Form
10-K for the year ended January 31, 2011, and other materials filed with the Securities and
Exchange Commission for a further description of these and other risks and uncertainties applicable
to our business. We assume no, and hereby disclaim any, obligation to update any of our
forward-looking statements. We nonetheless reserve the right to make such updates from time to
time by press release, periodic reports or other methods of public disclosure without the need for
specific reference to this press release. No such update shall be deemed to indicate that other
statements which are not addressed by such an update remain correct or create an obligation to
provide any other updates.
End of filing