Furniture maker Virco slides after downbeat Q2 results

Virco Mfg

09/12/2024 18:49

** Shares of furniture manufacturer Virco  VIRC.O  down as
much as 21.2% at $12.85 
    ** Stock set for its worst day since March 2020, if losses
hold
    ** Co reports Q3 revenue of $82.6 mln, a decline of 1.9% YoY
    ** Q3 net income fell 17% to $8.4 mln, or 52 cents per
share, vs 62 cents the previous year, hurt by higher freight and
installation costs
    ** Including session's moves, stock is up 9.2% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com))