Virco Mfg. (VIRC) 10-Q 12 Jun 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Apr. 30, 2015	Jun. 05, 2015	Jul. 31, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	VIRCO MFG CORPORATION
Entity Central Index Key	751365
Document Type	10-Q
Document Period End Date	30-Apr-15
Amendment Flag	FALSE
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$36
Entity Common Stock, Shares Outstanding		14,852,640

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Apr. 30, 2015	Jan. 31, 2015	Apr. 30, 2014
Liability for Uncertain Tax Positions, Current	$45,000
Current assets:
Cash	580,000	470,000	1,471,000
Trade accounts receivables, net	9,798,000	10,614,000	8,914,000
Other receivables	39,000	43,000	75,000
Income tax receivable	258,000	267,000	311,000
Inventories:
Finished goods	12,680,000	5,602,000	13,175,000
Work in process	19,136,000	11,487,000	18,775,000
Raw materials and supplies	10,434,000	9,589,000	9,642,000
Total inventories	42,250,000	26,678,000	41,592,000
Deferred Tax Assets, Net, Current	156,000	156,000	203,000
Prepaid expenses and other current assets	1,597,000	743,000	1,924,000
Total current assets	54,678,000	38,971,000	54,490,000
Property, plant and equipment:
Land	1,671,000	1,671,000	1,671,000
Land improvements	851,000	851,000	1,193,000
Buildings and building improvements	46,443,000	47,047,000	47,290,000
Machinery and equipment	108,533,000	110,060,000	113,948,000
Leasehold improvements	1,909,000	1,909,000	2,177,000
Total property, plant and equipment	159,407,000	161,538,000	166,279,000
Less accumulated depreciation and amortization	124,114,000	126,317,000	130,376,000
Net property, plant and equipment	35,293,000	35,221,000	35,903,000
Deferred tax assets, net	601,000	624,000	611,000
Other assets	6,981,000	6,995,000	6,851,000
Total assets	97,553,000	81,811,000	97,855,000
Current liabilities:
Accounts payable	15,931,000	9,901,000	16,640,000
Accrued compensation and employee benefits	4,054,000	4,199,000	3,865,000
Current portion of long-term debt	14,691,000	3,366,000	14,586,000
Deferred tax liabilities	0	0	0
Other accrued liabilities	4,793,000	3,939,000	5,348,000
Total current liabilities	39,469,000	21,405,000	40,439,000
Non-current liabilities:
Accrued self-insurance retention	2,503,000	1,730,000	2,539,000
Accrued pension expenses	28,447,000	28,986,000	23,538,000
Income tax payable	45,000	42,000	44,000
Long-term debt, less current portion	6,153,000	6,153,000	6,000,000
Other accrued liabilities	924,000	922,000	1,090,000
Total non-current liabilities	38,072,000	37,833,000	33,211,000
Commitments and contingencies
Preferred stock:
Authorized 3,000,000 shares, $.01 par value; none issued or outstanding	0	0	0
Common stock:
Authorized 25,000,000 shares, $.01 par value; issued and outstanding 14,852,640 shares at 4/30/2015 and 1/30/2015 ; and 14,718,414 at 4/30/2014	149,000	149,000	147,000
Additional paid-in capital	116,470,000	116,348,000	116,111,000
Accumulated deficit	-76,868,000	-73,690,000	-78,394,000
Accumulated other comprehensive loss	-19,739,000	-20,234,000	-13,659,000
Total stockholders’ equity	20,012,000	22,573,000	24,205,000
Total liabilities and stockholders’ equity	$97,553,000	$81,811,000	$97,855,000

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Apr. 30, 2015	Apr. 30, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	3,000,000	3,000,000
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	14,852,640	14,718,414
Common stock, shares outstanding	14,852,640	14,718,414

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 30, 2015	Apr. 30, 2014
Income Statement [Abstract]
Net sales	$23,048	$23,383
Costs of goods sold	14,854	15,353
Gross profit	8,194	8,030
Selling, general and administrative expenses	11,043	11,575
Gain on sale of property, plant & equipment	-8	0
Operating income ( loss)	-2,841	-3,545
Interest expense, net	298	329
Income (loss) before income taxes	-3,139	-3,874
Income tax expense (benefit)	39	-19
Net income (loss)	($3,178)	($3,855)
Net income (loss) per common share:
Basic	($0.21)	($0.26)
Diluted	($0.21)	($0.26)
Weighted average shares outstanding:
Basic	14,824	14,718
Diluted	14,824	14,718

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (USD $)	3 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	($3,178,000)	($3,855,000)
Other comprehensive income (loss) :
Pension adjustments	495,000	321,000
Comprehensive income (loss)	($2,683,000)	($3,534,000)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2015	Apr. 30, 2014
Operating activities
Net income (loss)	($3,178)	($3,855)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	1,130	1,071
Provision for doubtful accounts	15	20
(Gain) loss on sale of property, plant and equipment	-8	0
Deferred income taxes	23	0
Stock-based compensation	122	133
Amortization of net actuarial (gain) loss for pension plans, net of tax	495	321
Changes in operating assets and liabilities:
Trade accounts receivable	801	-438
Other receivables	4	-23
Inventories	-15,572	-13,812
Income taxes	12	-46
Prepaid expenses and other current assets	-840	-191
Accounts payable and accrued liabilities	6,973	5,569
Net cash provided by (used in) operating activities	-10,023	-11,251
Investing activities
Capital expenditures	-1,200	-667
Proceeds from sale of property, plant and equipment	8	0
Net investment in life insurance	0	0
Net cash provided by (used in) investing activities	-1,192	-667
Financing activities
Proceeds from long-term debt	22,300	20,586
Repayment of long-term debt	-10,975	-8,248
Net cash provided by (used in) financing activities	11,325	12,338
Net increase (decrease) in cash	110	420
Cash at beginning of year	470	1,051
Cash at end of year	$580	$1,471

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Apr. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended April 30, 2015, are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2016. The balance sheet at January 31, 2015, has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2015 (“Form 10-K”). Certain reclassifications have been made to the prior year statement of operations to conform to the current year presentation. Reclassifications did not have a material impact to the statement of operations. All references to the “Company” refer to Virco Mfg. Corporation and its subsidiaries.

Correction_of_Immaterial_Error

Correction of Immaterial Errors (Notes)	3 Months Ended
	Apr. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Correction of Immaterial Errors	Correction of Immaterial Errors
	In connection with the preparation of the January 31, 2015 consolidated financial statements, the Company determined that certain payments directly made to customers, which were previously included in selling, general, and administrative expenses, should instead be reflected as decreases to net sales. The current year Condensed Consolidated Statement of Operations properly reflects payments directly made to customers as decreases to net sales. While the amounts included in prior year were considered to be immaterial, the Company elected to revise the presentation of previously reported amounts to be consistent with the presentation for the quarter ended April 30, 2015. The change resulted in decreases to net sales, gross margin and selling, general, and administrative expenses of $147,000 for the quarter ended April 30, 2014.

Seasonality

Seasonality	3 Months Ended
	Apr. 30, 2015
Seasonality [Abstract]
Seasonality	Seasonality
	The market for educational furniture is marked by extreme seasonality, with approximately 50% of the Company’s total sales typically occurring from June to August each year, the Company’s peak season. Hence, the Company typically builds and carries significant amounts of inventory during and in anticipation of this peak summer season to facilitate the rapid delivery requirements of customers in the educational market. This requires a large up-front investment in inventory, labor, storage and related costs as inventory is built in anticipation of peak sales during the summer months. As the capital required for this build-up generally exceeds cash available from operations, the Company has historically relied on third-party bank financing to meet cash flow requirements during the build-up period immediately preceding the peak season. In addition, the Company typically is faced with a large balance of accounts receivable during the peak season. This occurs for two primary reasons. First, accounts receivable balances typically increase during the peak season as shipments of products increase. Second, many customers during this period are government institutions, which tend to pay accounts receivable more slowly than commercial customers.
	The Company’s working capital requirements during and in anticipation of the peak summer season require management to make estimates and judgments that affect assets, liabilities, revenues and expenses, and related contingent assets and liabilities. On an ongoing basis, management evaluates its estimates, including those related to market demand, labor costs, and stocking inventory.

New_Accounting_Standards

New Accounting Standards	3 Months Ended
	Apr. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Standards	New Accounting Standards
	In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09") an updated standard on revenue recognition. This ASU will supersede the revenue recognition requirements in Accounting Standards Codification Topic 605, Revenue Recognition, and most industry-specific guidance.  ASU 2014-09 provides enhancements to the quality and consistency of how revenue is reported while also improving comparability in the financial statements of companies reporting using US GAAP and International Financial Reporting Standards.  The core principle of the new standard is for companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the Company expects to be entitled in exchange for those goods or services. In doing so the Company may be required to use more judgment and make more estimates than under current authoritative guidance. ASU 2014-09 will be effective for the Company in the first quarter of fiscal 2017 and may be applied on a full retrospective or modified retrospective approach. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This standard sets forth management’s responsibility to evaluate, each reporting period, whether there is substantial doubt about our ability to continue as a going concern, and if so, to provide related footnote disclosures. The standard is effective for annual and interim reporting periods ending after December 15, 2016.  We are currently evaluating this new standard and expect it to have no impact on our financial position and results of operations.
	In April 2015, the FASB issued an Accounting Standards Update that requires reporting entities to present debt issuance costs as a direct deduction from the face amount of that note payable presented in the balance sheet. The Accounting Standards Update is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. A reporting entity is required to apply the amendments in the Accounting Standards Update retrospectively to all prior periods. We are currently assessing the potential impact that the adoption of the Accounting Standards Update will have on our consolidated financial statements.

Debt

Debt	3 Months Ended
	Apr. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt
	Outstanding balances (in thousands) for the Company’s long-term debt were as follows:
		4/30/15		1/31/15		4/30/14
		(in thousands)
	Revolving credit line	$	20,691	$	9,366	$	20,586
	Other	153		153		—
	Total debt	20,844		9,519		20,586
	Less current portion	14,691		3,366		14,586
	Non-current portion	$	6,153	$	6,153	$	6,000
	On December 22, 2011, the Company entered into a Revolving Credit and Security Agreement (the “Credit Agreement”) with PNC Bank, National Association (“PNC”). The credit agreement currently matures on December 22, 2017 and has a maximum availability of $50,000,000, including sub-lines for letters of credit and equipment financing. Borrowings under the Credit Agreement bear interest at either the Alternate Base Rate (as defined in the Credit Agreement) plus 0.75% to 1.75% or the Eurodollar Currency Rate (as defined in the Credit Agreement) plus 1.75% to 2.75%. The interest rate at April 30, 2015 was 4%. Approximately $8,407,000 was available for borrowing as of April 30, 2015.
	The Credit Agreement prohibits the Company from issuing dividends or making payments with respect to the Company's capital stock, and contains numerous other covenants, including these financial covenants: (1) minimum tangible net worth, (2) fixed charge coverage ratio, and (3) minimum EBITDA amount, in each case as of the end of the relevant monthly, quarterly or annual measurement period. The Company was in compliance with its covenants during the first quarter of 2015. Pursuant to the Credit Agreement, substantially all of the Borrowers' accounts receivable are automatically and promptly swept to repay amounts outstanding under the Revolving Credit Facility upon receipt by the Borrowers. In addition, the Credit Agreement contains a clean down provision that requires the Company to reduce borrowings under the line to less than $6,000,000 for a period of 60 consecutive days each fiscal year.
	The Company believes that the Revolving Credit Facility will provide sufficient liquidity to meet its capital requirements for at least in the next 12 months. Management believes that the carrying value of debt approximated fair value at April 30, 2015 and 2014, as all of the long-term debt bears interest at variable rates based on prevailing market conditions.

Inventories

Inventories	3 Months Ended
	Apr. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories
	Inventories primarily consist of raw materials, work in progress, and finished goods of manufactured products. In addition, the Company maintains an inventory of finished goods purchased for resale. Inventories are stated at lower of cost or market and consist of materials, labor, and overhead. The Company determines the cost of inventory by the first-in, first-out method. The value of inventory includes any related production overhead costs incurred in bringing the inventory to its present location and condition. The Company records the cost of excess capacity as a period expense, not as a component of capitalized inventory valuation.
	Management continually monitors production costs, material costs and inventory levels to determine that interim inventories are fairly stated.

Income_Taxes

Income Taxes	3 Months Ended
	Apr. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes
	The Company recognizes deferred income taxes under the asset and liability method of accounting for income taxes in accordance with the provisions of ASC No. 740, “Accounting for Income Taxes.” Deferred income taxes are recognized for differences between the financial statement and tax basis of assets and liabilities at enacted statutory tax rates in effect for the years in which the differences are expected to reverse. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. In assessing the realizability of deferred tax assets, the Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income or reversal of deferred tax liabilities during the periods in which those temporary differences become deductible. Based on this consideration, the Company determined the realization of a majority of the net deferred tax assets do not meet the more likely than not criteria and a valuation allowance was recorded against the majority of the net deferred tax assets at April 30, 2015. The effective tax rate for the quarter ended April 30, 2015 was impacted by the valuation allowance recognized against state deferred tax assets and discrete items associated with non-taxable permanent differences.
	The Company is currently under IRS examination for the year ended January 31, 2013. No adjustments have been proposed. The years ended January 31, 2012 and forward remain open for examination by the IRS. The fiscal years ended January 31, 2011 and forward remain open for examination by state tax authorities. The Company is not currently under state examination.
	During 2014, the Company completed Texas income tax examinations of the tax years ending January 31, 2010 and 2011, respectively. The examination did not materially impact the Consolidated Statements of Operations.
	As of April 30, 2015, the Company has $45,000 of uncertain tax positions accrued. The specific timing of when the resolution of each tax position will be reached is uncertain. As of April 30, 2015, we do not believe that there are any positions for which it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the next 12 months.

Net_Income_Loss_per_Share

Net Income (Loss) per Share	3 Months Ended
	Apr. 30, 2015
Earnings Per Share [Abstract]
Net Income (Loss) per Share	Net Income (Loss) per Share
		Three Months Ended
		4/30/15			4/30/14
		(In thousands, except per share data)
	Net income (loss)	$	(3,178	)	$	(3,855	)
	Average shares outstanding (a)	14,824			14,718
	Net effect of dilutive stock options based on the treasury stock method using average market price	—			—
	Totals	14,824			14,718
	Net income (loss) per share - basic	$	(0.21	)	$	(0.26	)
	Net income (loss) per share - diluted	$	(0.21	)	$	(0.26	)
	(a) All exercisable and non-exercisable stock options were not included in the computation of diluted net loss per share at April 30, 2015 and 2014, because their inclusion would have been anti-dilutive. The number of stock options outstanding, which met this anti-dilutive criterion for the three months ended April 30, 2015 and 2014, was 233,000 and 266,000, respectively.

StockBased_Compensation_and_St

Stock-Based Compensation and Stockholders' Rights	3 Months Ended
	Apr. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation and Stockholders' Rights	Stock-Based Compensation and Stockholders’ Rights
	Stock Incentive Plans
	The Company's two stock plans are the 2011 Employee Stock Incentive Plan (the “2011 Plan”) and the 2007 Employee Incentive Stock Plan (the “2007 Plan”). Under the 2011 Plan, the Company may grant an aggregate of 2,000,000 shares to its employees and non-employee directors in the form of stock options or awards. Restricted stock or stock units awarded under the 2011 Plan are expensed ratably over the vesting period of the awards. The Company determines the fair value of its restricted stock unit awards and related compensation expense as the difference between the market value of the awards on the date of grant less the exercise price of the awards granted. The Company granted 0 awards under the 2011 Plan during the quarter ended April 30, 2015. As of April 30, 2015, there were approximately 878,694 shares available for future issuance under the 2011 Plan.
	Under the 2007 Plan, the Company may grant an aggregate of 1,000,000 shares to its employees and non-employee directors in the form of stock options or awards. Restricted stock or stock units awarded under the 2007 Plan are expensed ratably over the vesting period of the awards. The Company determines the fair value of its restricted stock unit awards and related compensation expense as the difference between the market value of the awards on the date of grant less the exercise price of the awards granted. The Company granted 0 awards under the 2007 Plan during 2014 and 0 awards under the 2007 Plan during the quarter ended April 30, 2015. As of April 30, 2015, there were approximately 13,075 shares available for future issuance under the 2007 Plan.
	Accounting for the Plans
	Restricted Stock Unit Awards
	The following table presents a summary of restricted stock and stock unit awards at April 30, 2015 and 2014:
				Expense for 3 months ended				Unrecognized
								Compensation
								Cost at
	Date of Grants	Units Granted	Terms of Vesting	4/30/15		4/30/14		4/30/15
	2011 Stock Incentive Plan
	6/24/14	28,626	1 year	$	19,000	$	—	$	6,000
	6/24/14	490,000	5 years	64,000		—		1,044,000
	12/3/13	10,000	1 year	—		9,000		—
	6/25/13	71,430	1 year	—		37,000		—
	6/19/12	520,000	5 years	39,000		40,000		327,000
	2007 Stock Incentive Plan
	6/16/09	382,500	5 years	—		47,000		—
	Totals for the period			$	122,000	$	133,000	$	1,377,000

Stockholders_Equity

Stockholdersb Equity	3 Months Ended
	Apr. 30, 2015
Equity [Abstract]
Stockholdersb Equity	Stockholders’ Equity
	During the three months ended April 30, 2015, the Company did not repurchase any shares of its common stock. As of April 30, 2015, $1.1 million remained available for repurchases of the Company’s common stock pursuant to the Company’s repurchase program approved by the Board of Directors, subject to restriction under the Company's Credit Agreement with PNC. Pursuant to the Company’s Credit Agreement with PNC, the Company is prohibited from repurchasing any shares of its stock except in cases where a repurchase is financed by a substantially concurrent issuance of new shares of the Company’s common stock.

Retirement_Plans_Retirement_Pl

Retirement Plans Retirement Plans	3 Months Ended
	Apr. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Retirement Plans	Retirement Plans
	The Company and its subsidiaries cover employees under a noncontributory defined benefit retirement plan, entitled the Virco Employees’ Retirement Plan (the “Pension Plan”). Benefits under the Employees Retirement Plan are based on years of service and career average earnings. As more fully described in the Form 10-K, benefit accruals under the Employees Retirement Plan were frozen effective December 31, 2003.
	The Company also provides a supplementary retirement plan for certain key employees, the VIP Retirement Plan (the “VIP Plan”). The VIP Plan provides a benefit of up to 50% of average compensation for the last 5 years in the VIP Plan, offset by benefits earned under the Pension Plan. As more fully described in the Form 10-K, benefit accruals under this plan were frozen effective December 31, 2003.
	The Company also provides a non-qualified plan for certain former non-employee directors of the Company (the “Non-Employee Directors Retirement Plan”). The Non-Employee Directors Retirement Plan provides a lifetime annual retirement benefit equal to the director’s annual retainer fee for the fiscal year in which the director terminated his or her position with the Board, subject to the director having provided 10 years of service to the Company. As more fully described in the Form 10-K, benefit accruals under this plan were frozen effective December 31, 2003.
	The net periodic pension cost (income) for the Pension Plan, the VIP Plan, and the Non-Employee Directors Retirement Plan for the three months ended April 30, 2015 and 2014 were as follows (in thousands):
		Three Months Ended
		Pension Plan						VIP Plan				Non-Employee Directors Retirement Plan
		4/30/15			4/30/14			4/30/15		4/30/14		4/30/15		4/30/14
	Service cost	$	—		$	—		$	—	$	—	$	—	$	—
	Interest cost	324			315			105		88		3		4
	Expected return on plan assets	(324		)	(275		)	—		—		—		—
	Amortization of transition amount	—			—			—		—		—		—
	Recognized (gain) loss due to curtailments	—			—			—		—		—		—
	Amortization of prior service cost	—			—			—		—		—		—
	Recognized net actuarial (gain) loss	375			284			120		45		—		(8		)
	Benefit cost	$	375		$	324		$	225	$	133	$	3	$	(4	)

Warranty_Accrual

Warranty Accrual	3 Months Ended
	Apr. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Warranty Accrual	Warranty Accrual
	The Company provides a warranty against all substantial defects in material and workmanship. In 2005 the Company extended its standard warranty from five years to 10 years. Effective February 1, 2014 the Company modified its warranty to a limited lifetime warranty. The new warranty effective February 1, 2014 is not anticipated to have a significant effect on warranty expense. The Company’s warranty is not a guarantee of service life, which depends upon events outside the Company’s control and may be different from the warranty period. The Company accrues an estimate of its exposure to warranty claims based upon both product sales data and an analysis of actual warranty claims incurred.
	The following is a summary of the Company’s warranty-claim activity for the three months ended April 30, 2015 and 2014.
		Three Months Ended
		4/30/15			4/30/14
		(In thousands)
	Beginning balance	$	950		$	1,000
	Provision	83			135
	Costs incurred	(83		)	(135		)
	Ending balance	$	950		$	1,000

Subsequent_Events

Subsequent Events	3 Months Ended
	Apr. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events
	We have evaluated subsequent events to assess the need for potential recognition or disclosure in this Quarterly Report on Form 10-Q. Such events were evaluated through the date these financial statements were issued. Based upon this evaluation, it was determined that, no subsequent events occurred that required recognition or disclosure in the financial statements.

Debt_Tables

Debt (Tables)	3 Months Ended
	Apr. 30, 2015
Debt Disclosure [Abstract]
Outstanding balances of long-term debt	Debt
	Outstanding balances (in thousands) for the Company’s long-term debt were as follows:
		4/30/15		1/31/15		4/30/14
		(in thousands)
	Revolving credit line	$	20,691	$	9,366	$	20,586
	Other	153		153		—
	Total debt	20,844		9,519		20,586
	Less current portion	14,691		3,366		14,586
	Non-current portion	$	6,153	$	6,153	$	6,000

Net_Income_Loss_per_Share_Tabl

Net Income (Loss) per Share (Tables)	3 Months Ended
	Apr. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted
		Three Months Ended
		4/30/15			4/30/14
		(In thousands, except per share data)
	Net income (loss)	$	(3,178	)	$	(3,855	)
	Average shares outstanding (a)	14,824			14,718
	Net effect of dilutive stock options based on the treasury stock method using average market price	—			—
	Totals	14,824			14,718
	Net income (loss) per share - basic	$	(0.21	)	$	(0.26	)
	Net income (loss) per share - diluted	$	(0.21	)	$	(0.26	)

StockBased_Compensation_and_St1

Stock-Based Compensation and Stockholders' Rights (Tables)	3 Months Ended
	Apr. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Restricted Stock and Stock Unit Award Activity	Restricted Stock Unit Awards
	The following table presents a summary of restricted stock and stock unit awards at April 30, 2015 and 2014:
				Expense for 3 months ended				Unrecognized
								Compensation
								Cost at
	Date of Grants	Units Granted	Terms of Vesting	4/30/15		4/30/14		4/30/15
	2011 Stock Incentive Plan
	6/24/14	28,626	1 year	$	19,000	$	—	$	6,000
	6/24/14	490,000	5 years	64,000		—		1,044,000
	12/3/13	10,000	1 year	—		9,000		—
	6/25/13	71,430	1 year	—		37,000		—
	6/19/12	520,000	5 years	39,000		40,000		327,000
	2007 Stock Incentive Plan
	6/16/09	382,500	5 years	—		47,000		—
	Totals for the period			$	122,000	$	133,000	$	1,377,000

Retirement_Plans_Retirement_Pl1

Retirement Plans Retirement Plans (Tables)	3 Months Ended
	Apr. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of Defined Benefit Plans Disclosures	The net periodic pension cost (income) for the Pension Plan, the VIP Plan, and the Non-Employee Directors Retirement Plan for the three months ended April 30, 2015 and 2014 were as follows (in thousands):
		Three Months Ended
		Pension Plan						VIP Plan				Non-Employee Directors Retirement Plan
		4/30/15			4/30/14			4/30/15		4/30/14		4/30/15		4/30/14
	Service cost	$	—		$	—		$	—	$	—	$	—	$	—
	Interest cost	324			315			105		88		3		4
	Expected return on plan assets	(324		)	(275		)	—		—		—		—
	Amortization of transition amount	—			—			—		—		—		—
	Recognized (gain) loss due to curtailments	—			—			—		—		—		—
	Amortization of prior service cost	—			—			—		—		—		—
	Recognized net actuarial (gain) loss	375			284			120		45		—		(8		)
	Benefit cost	$	375		$	324		$	225	$	133	$	3	$	(4	)

Warranty_Accrual_Warranty_Tabl

Warranty Accrual Warranty (Tables)	3 Months Ended
	Apr. 30, 2015
Guarantees [Abstract]
Schedule of Product Warranty Liability	The following is a summary of the Company’s warranty-claim activity for the three months ended April 30, 2015 and 2014.
		Three Months Ended
		4/30/15			4/30/14
		(In thousands)
	Beginning balance	$	950		$	1,000
	Provision	83			135
	Costs incurred	(83		)	(135		)
	Ending balance	$	950		$	1,000

Correction_of_Immaterial_Error1

Correction of Immaterial Errors (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2015	Apr. 30, 2014
Net sales	$23,048	$23,383
Gross profit	8,194	8,030
Selling, general and administrative expenses	11,043	11,575
Scenario, Adjustment [Member] | Reclassification of Payments Made to Customers [Member]
Net sales	147
Gross profit	147
Selling, general and administrative expenses	$147

Seasonality_Details

Seasonality (Details) (Sales [Member])	3 Months Ended
	Apr. 30, 2015
Sales [Member]
Seasonality (Textual) [Abstract]
The market for educational furniture is marked by extreme seasonality	50.00%

Debt_Longterm_Debt_Details

Debt (Long-term Debt) (Details) (USD $)	Apr. 30, 2015	Jan. 31, 2015	Apr. 30, 2014
In Thousands, unless otherwise specified
Debt Instrument [Line Items]
Long-term debt	$20,844	$9,519	$20,586
Less current portion	14,691	3,366	14,586
Non-current portion	6,153	6,153	6,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt	20,691	9,366	20,586
Other Debt [Member]
Debt Instrument [Line Items]
Long-term debt	$153	$153	$0

Debt_Narrative_Details

Debt (Narrative) (Details) (USD $)	3 Months Ended	9 Months Ended
	Apr. 30, 2015	Oct. 31, 2014	Apr. 15, 2014
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate at Period End	4.00%
Provision to reduce borrowings under the line	$6,000,000
Provision to reduce borrowings under the line, period	60 days
PNC [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Remaining borrowing capacity	8,407,000
PNC [Member] | Revolving Credit Facility [Member] | Amendment No. 7 To The Credit Agreement [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$50,000,000
Eurodollar [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of		1.75%
Eurodollar [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of	2.75%
Alternate Base Rate Loans [Member] | London Interbank Offered Rate LIBOR [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of	0.75%
Alternate Base Rate Loans [Member] | London Interbank Offered Rate LIBOR [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of	1.75%

Net_Income_Loss_per_Share_Deta

Net Income (Loss) per Share (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Apr. 30, 2015	Apr. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss)	($3,178)	($3,855)
Average shares outstanding	14,824,000	14,718,000
Net effect of dilutive stock options based on the treasury stock method using average market price	0	0
Totals	14,824,000	14,718,000
Earnings Per Share, Basic	($0.21)	($0.26)
Earnings Per Share, Diluted	($0.21)	($0.26)
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	233,000	266,000

StockBased_Compensation_and_St2

Stock-Based Compensation and Stockholders' Rights (Restricted Stock Units) (Details) (USD $)	3 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
Restricted Stock or Stock Units [Member]
Summary of restricted stock and stock unit awards
Expense for 3 months ended	$122,000	$133,000
Unrecognized compensation at cost	1,377,000
2011 Plan [Member] | 28626 units of restricted stock issued on 6/24/2014 vesting over 1 year [Member]
Summary of restricted stock and stock unit awards
Granted	28,626
Maximum term of stock options	1 year
Expense for 3 months ended	19,000
Unrecognized compensation at cost	6,000
Restricted Stock Units
Granted	28,626
2011 Plan [Member] | 490,000 units of restricted stock issued on 6/24/2014 vesting over 5 Year [Member]
Summary of restricted stock and stock unit awards
Granted	490,000
Maximum term of stock options	5 years
Expense for 3 months ended	64,000
Unrecognized compensation at cost	1,044,000
Restricted Stock Units
Granted	490,000
2011 Plan [Member] | 10,000 units of restricted stock issued on 12/03/2014 vesting over 1 year [Member]
Summary of restricted stock and stock unit awards
Granted		10,000
Maximum term of stock options		1 year
Expense for 3 months ended		9,000
Restricted Stock Units
Granted		10,000
2011 Plan [Member] | 71,430 units of restricted stock issued on 6/25/2013 vesting over 1yr [Member]
Summary of restricted stock and stock unit awards
Granted	71,430
Maximum term of stock options	1 year
Expense for 3 months ended	0	37,000
Unrecognized compensation at cost	0
Restricted Stock Units
Granted	71,430
2011 Plan [Member] | 520,000 Grants of Restricted Stock, issued 6/19/2012, vesting over 5 years [Member]
Summary of restricted stock and stock unit awards
Granted	520,000
Maximum term of stock options	5 years
Expense for 3 months ended	39,000	40,000
Unrecognized compensation at cost	327,000
Restricted Stock Units
Granted	520,000
2011 Plan [Member] | Restricted Stock or Stock Units [Member]
Summary of restricted stock and stock unit awards
Granted	0
Restricted Stock Units
Granted	0
2007 Plan [Member] | 382,500 Restricted Stock Units, issued 6/16/2009, vesting over 5 years [Member]
Summary of restricted stock and stock unit awards
Granted	382,500
Maximum term of stock options	5 years
Expense for 3 months ended	0	47,000
Unrecognized compensation at cost	$0
Restricted Stock Units
Granted	382,500
2007 Plan [Member] | Restricted Stock or Stock Units [Member]
Summary of restricted stock and stock unit awards
Granted	0
Restricted Stock Units
Granted	0

StockBased_Compensation_and_St3

Stock-Based Compensation and Stockholders' Rights (Textual) (Details) (USD $)	3 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, par value	0.01	$0.01
Restricted Stock or Stock Units [Member] | 2011 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant of stock option or awards	2,000,000
Granted during the year	0
Stock available for future issuance	878,694
Restricted Stock or Stock Units [Member] | 2007 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant of stock option or awards	1,000,000
Granted during the year	0
Stock available for future issuance	13,075

Stockholders_Equity_Details

Stockholders' Equity (Details)	Apr. 30, 2015
In Millions, unless otherwise specified
Equity [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	1.1

Retirement_Plans_Periodic_Pens

Retirement Plans (Periodic Pension Cost) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2015	Apr. 30, 2014
Components of Net Cost
Amortization of prior service cost		$0
Employee Plan [Member]
Components of Net Cost
Service cost	0	0
Interest cost	324	315
Expected return on plan assets	-324	-275
Amortization of transition amount	0	0
Recognized (gain) loss due to curtailments	0	0
Amortization of prior service cost	0	0
Recognized net actuarial (gain) loss	375	284
Benefit cost	375	324
VIP Retirement Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase	50.00%
Components of Net Cost
Service cost	0	0
Interest cost	105	88
Expected return on plan assets	0	0
Amortization of transition amount	0	0
Recognized (gain) loss due to curtailments	0	0
Amortization of prior service cost	0	0
Recognized net actuarial (gain) loss	120	45
Benefit cost	225	133
Directors Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Director Providing Service To Company	10 years
Components of Net Cost
Service cost	0	0
Interest cost	3	4
Expected return on plan assets	0	0
Amortization of transition amount	0	0
Recognized (gain) loss due to curtailments	0	0
Recognized net actuarial (gain) loss	0	-8
Benefit cost	$3	($4)

Retirement_Plans_Pension_plan_

Retirement Plans Pension plan actuarial gain or loss (Details)	3 Months Ended
	Apr. 30, 2015
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit Of Average Compensation Years	5 years

Warranty_Details

Warranty (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2015	Apr. 30, 2014
Warranty claim activity
Beginning balance	$950	$1,000
Provision	83	135
Costs incurred	-83	-135
Ending balance	$950	$1,000
Minimum [Member]
Warranty [Line Items]
Product warranty period	5 years
Maximum [Member]
Warranty [Line Items]
Product warranty period		10 years