Virco Reports Q4 EPS of $(1.18) vs. $(0.29)

Virco Mfg. Corporation VIRC today announced fourth quarter and year-to-date results in the following letter to stockholders from Robert A. Virtue, President and CEO: "For the year ended January 31, 2011, revenues dropped 5% from $190,513,000 to $180,995,000. For the 4th quarter comprising November through January, revenues declined 11.3% from $25,921,000 to $22,993,000. Our net loss for the full year was $17,594,000, which consisted of a pre-tax loss of $8,587,000 plus a valuation allowance on deferred tax assets. Operating results for the quarter were a pre-tax loss of $6,948,000 compared to a pre-tax loss in last year's fourth quarter of $7,202,000. " EPS $1.18