Virco Mfg. (VIRC) 10-Q 14 Sep 17 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 31, 2017	Sep. 08, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	VIRCO MFG CORPORATION
Entity Central Index Key	751,365
Document Type	10-Q
Document Period End Date	Jul. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--01-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		15,357,457

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2017	Jan. 31, 2017	Jul. 31, 2016
Current assets:
Cash	$ 2,747	$ 788	$ 2,428
Trade accounts receivables, net	40,201	9,915	33,835
Other receivables	73	216	43
Income tax receivable	175	275	268
Inventories, net	50,861	35,689	51,871
Prepaid expenses and other current assets	1,888	1,610	1,461
Total current assets	95,945	48,493	89,906
Property, plant and equipment:
Land	1,671	1,671	1,671
Land improvements	680	675	674
Buildings and building improvements	46,036	46,021	46,019
Machinery and equipment	100,984	99,896	100,693
Leasehold improvements	803	842	684
Total property, plant and equipment	150,174	149,105	149,741
Less accumulated depreciation and amortization	114,591	114,780	115,339
Net property, plant and equipment	35,583	34,325	34,402
Deferred tax assets, net	15,611	17,008	573
Other assets	8,308	8,361	7,071
Total assets	155,447	108,187	131,952
Current liabilities:
Accounts payable	20,945	12,388	18,014
Accrued compensation and employee benefits	6,373	5,138	5,632
Current portion of long-term debt	29,987	68	31,068
Other accrued liabilities	7,543	3,991	7,280
Total current liabilities	64,848	21,585	61,994
Non-current liabilities:
Accrued self-insurance retention	1,904	1,350	1,315
Accrued pension expenses	17,991	18,699	22,606
Income tax payable	42	36	31
Long-term debt, less current portion	6,000	4,943	5,936
Other accrued liabilities	1,978	2,220	2,339
Total non-current liabilities	27,915	27,248	32,227
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 15,357,457 shares at 07/31/2017 and 15,179,664 at 1/31/2017 and 07/31/2016	154	152	152
Additional paid-in capital	117,020	116,976	116,643
Accumulated deficit	(43,392)	(46,380)	(65,394)
Accumulated other comprehensive loss	(11,098)	(11,394)	(13,670)
Total stockholders’ equity	62,684	59,354	37,731
Total liabilities and stockholders’ equity	$ 155,447	$ 108,187	$ 131,952

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jul. 31, 2017	Jan. 31, 2017	Jul. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	3,000,000	3,000,000	3,000,000
Preferred stock, shares issued (shares)	0	0	0
Preferred stock, shares outstanding (shares)	0	0	0
Common stock, par value (usd per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	25,000,000	25,000,000	25,000,000
Common stock, shares issued (shares)	15,357,457	15,179,664	15,179,664
Common stock, shares outstanding (shares)	15,357,457	15,179,664	15,179,664

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income Unaudited - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Income Statement [Abstract]
Net sales	$ 72,636	$ 61,354	$ 95,871	$ 82,181
Costs of goods sold	45,953	37,616	60,761	50,380
Gross profit	26,683	23,738	35,110	31,801
Selling, general and administrative expenses	18,278	16,226	29,970	27,135
(Gain) Loss on sale of property, plant & equipment	(1)	0	(1)	(1)
Operating income	8,406	7,512	5,141	4,667
Interest expense, net	529	486	824	750
Income (loss) before income taxes	7,877	7,026	4,317	3,917
Income tax (benefit) expense	2,849	140	1,500	170
Net income (loss)	$ 5,028	$ 6,886	$ 2,817	$ 3,747
Net income (loss) per common share:
Basic (usd per share)	$ 0.33	$ 0.46	$ 0.19	$ 0.25
Diluted (usd per share)	$ 0.33	$ 0.45	$ 0.18	$ 0.25
Weighted average shares outstanding:
Basic (shares)	15,211	15,036	15,170	15,004
Diluted (shares)	15,285	15,147	15,233	15,100

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) Unaudited - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 5,028	$ 6,886	$ 2,817	$ 3,747
Other comprehensive income
Pension adjustments	148	330	296	660
Comprehensive income (loss)	$ 5,176	$ 7,216	$ 3,113	$ 4,407

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Loss) Unaudited (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Statement of Comprehensive Income [Abstract]
Pension adjustments, tax	$ 92	$ 0	$ 184	$ 0

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows Unaudited - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Operating activities
Net income (loss)	$ 2,817	$ 3,747
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	2,601	2,555
Provision for doubtful accounts	35	53
Increase in inventory reserve	534	275
Gain on sale of property, plant and equipment	(1)	(1)
Deferred income taxes	1,569	129
Stock-based compensation	385	276
Amortization of net actuarial loss for pension plans, net of tax	296	660
Changes in operating assets and liabilities:
Trade accounts receivable	(30,321)	(23,940)
Other receivables	143	(8)
Inventories, net	(15,706)	(17,543)
Income taxes	105	42
Prepaid expenses and other current assets	(224)	(471)
Accounts payable and accrued liabilities	12,980	7,640
Net cash provided by (used in) operating activities	(24,787)	(26,586)
Investing activities
Capital expenditures	(3,891)	(1,935)
Proceeds from sale of property, plant and equipment	1	1
Net cash provided by (used in) investing activities	(3,890)	(1,934)
Financing activities
Proceeds from long-term debt	36,742	37,004
Repayment of long-term debt	(5,767)	(6,607)
Common stock repurchased	(339)	(264)
Net cash provided by (used in) financing activities	30,636	30,133
Net increase in cash	1,959	1,613
Cash at beginning of year	788	815
Cash at end of year	$ 2,747	$ 2,428

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jul. 31, 2017
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 six months ended July 31, 2017 , are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2018 . The balance sheet at January 31, 2017 , 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, 2017 (“Form 10-K”). All references to the “Company” refer to Virco Mfg. Corporation and its subsidiaries.

Seasonality

Seasonality	6 Months Ended
	Jul. 31, 2017
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 generally 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	6 Months Ended
	Jul. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Standards	In February 2016, the FASB issued ASU No. 2016-02, Leases . The new standard requires lessees to recognize most leases, including operating leases, on-balance sheet via a right of use asset and lease liability. Changes to the lessee accounting model may change key balance sheet measures and ratios, potentially effecting analyst expectations and compliance with financial covenants. The new standard becomes effective for the Company effective for fiscal years beginning after December 15, 2018, but may be adopted at any time, and requires a modified retrospective transition. The Company is currently evaluating the effect the standard will have on consolidated financial statements and related disclosures. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments. The new standard provides classification guidance on eight cash flow issues including debt prepayment, settlement of zero-coupon bonds, contingent consideration payments made after a business combination, proceeds from the settlements of insurance claims, proceeds from the settlement of corporate-owned life insurance policies and distributions received from equity method investees. The new standard becomes effective for the Company for fiscal years beginning after December 15, 2017. The Company anticipates the standard will have an immaterial effect on consolidated statements of cash flows. In March 2017, the FASB issued authoritative guidance related to the presentation of net periodic pension cost in the income statement. This guidance requires that the service cost component of net periodic pension cost is presented in the same line as other compensation costs arising from services rendered by the respective employees during the period. The other components of net periodic pension cost are required to be presented in the income statement separately from the service cost component and outside of earnings from operations. This guidance also allows for the service cost component to be eligible for capitalization when applicable. This guidance is effective for fiscal years beginning after December 15, 2017, which will be the Company’s first quarter of fiscal 2019, and requires retrospective adoption for the presentation of the service cost component and other components of net periodic pension cost in the income statement and prospective adoption for capitalization of the service cost component. Early adoption is permitted at the beginning of a fiscal year. The Company adopted this standard in the first quarter of fiscal 2018 and it had no effect on the condensed consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting. The new standard is intended to simplify accounting for share based employment awards to employees. Changes include: all excess tax benefits/deficiencies should be recognized as income tax expense/benefit; entities can make elections on how to account for forfeitures; and cash paid by an employer when directly withholding shares for tax withholding purposes should be classified as a financing activity on the cash flow statement. The Company implemented the new standard in the first quarter of fiscal 2018. The primary impact of implementation was the recognition of excess tax benefits in our provision for income taxes rather than paid-in capital beginning with the first quarter of fiscal 2018. Upon adoption the balance of the unrecognized excess tax benefits of approximately $172,000 was reversed with the impact recorded to retained earnings. Prior to the adoption of this standard, that amount would have been recognized as an adjustment to "Additional paid-in capital" in the Condensed Consolidated Balance Sheets. Excess tax benefits will be recorded in the operating section of the Condensed Consolidated Statements of Cash Flows on a prospective basis. Prior to fiscal 2018, the tax benefits or shortfalls were recorded in financing cash flows. The presentation requirements for cash flows related to employee taxes paid for withheld shares in the financing section had no impact to any of the periods presented in our Condensed Consolidated Statements of Cash Flows since such cash flows have historically been presented as a financing activity. In July 2015, the FASB issued authoritative guidance to simplify the subsequent measurement of inventories by replacing the lower of cost or market test with a lower of cost and net realizable value test. This guidance is effective for fiscal years beginning after December 15, 2016 and requires prospective adoption with early adoption permitted. The Company adopted this standard in the first quarter of fiscal 2018 and it had no effect on the condensed consolidated financial statements and related disclosures. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09), and has modified the standard thereafter. The core principal of the standard requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The new revenue standard will be effective for the Company on February 1, 2018. The standard permits the use of either a full retrospective method, where the standard is applied to each prior reporting period presented or a cumulative effect transition method, or modified retrospective method, where the cumulative effect of initially applying the standard is recognized at the date of initial application. We anticipate using the modified retrospective method and we are currently evaluating the effect the new revenue standard will have on our consolidated financial statements.

Inventories

Inventories	6 Months Ended
	Jul. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories Inventory is valued at the lower of cost (determined on a first-in, first-out basis) or Net Realizable Value and includes material, labor, and factory overhead. The Company maintains allowances for estimated slow moving and obsolete inventory to reflect the difference between the cost of inventory and the estimated market value. Allowances for slow moving and obsolete inventory are determined through a physical inspection of the product in connection with a physical inventory, a review of slow-moving product, and consideration of active marketing programs. The market for education furniture is traditionally driven by value, not style, and the Company has not typically incurred significant obsolescence expenses. If market conditions are less favorable than those anticipated by management, additional allowances may be required. Due to reductions in sales volume in the past years, the Company’s manufacturing facilities are operating at reduced levels of capacity. The Company records the cost of excess capacity as a period expense, not as a component of capitalized inventory valuation. The following table presents an updated breakdown of the Company’s net inventory (in thousands) as of July 31, 2017, January 31, 2017 and July 31, 2016: 7/31/2017 1/31/2017 7/31/2016 Finished goods $ 21,912 $ 11,174 $ 22,461 WIP 16,923 13,486 17,250 Raw materials 12,026 11,029 12,160 Inventories, net $ 50,861 $ 35,689 $ 51,871 Management continually monitors production costs, material costs and inventory levels to determine that interim inventories are fairly stated.

Debt

Debt	6 Months Ended
	Jul. 31, 2017
Debt Disclosure [Abstract]
Debt	Debt Outstanding balances (in thousands) for the Company’s long-term debt were as follows: 7/31/2017 1/31/2017 7/31/2016 (in thousands) Revolving credit line $ 35,924 $ 4,914 $ 36,979 Other 63 97 25 Total debt 35,987 5,011 37,004 Less current portion 29,987 68 31,068 Non-current portion $ 6,000 $ 4,943 $ 5,936 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, 2019 and has a maximum availability of $49,500,000 , plus sub-lines for letters of credit and a $2,500,000 line for equipment financing. Borrowings under the Credit Agreement bear interest at either the Alternate Base Rate (as defined in the Credit Agreement) plus 0.50% to 1.50% or the Eurodollar Currency Rate (as defined in the Credit Agreement) plus 1.50% to 2.50% . The interest rate at July 31, 2017 was 4.75% . Approximately $31,938,000 was available for borrowing as of July 31, 2017 . The Credit Agreement restricts the Company from issuing dividends or making payments with respect to the Company's capital stock to an annual limit of $1.3 million , and contains numerous other covenants, including these financial covenants: (1) fixed charge coverage ratio, and (2) 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 second quarter of fiscal year ending January 31, 2018. Pursuant to the Credit Agreement, substantially all of the Company's accounts receivable are automatically and promptly swept to repay amounts outstanding under the Revolving Credit Facility upon receipt by the Company. On April 4, 2016, the Company entered into Amendment No. 12 to the Credit Agreement which, among other things, increased the borrowing availability for the period from June 1, 2016 through August 15, 2016 and modified the clean down provision to reduce borrowings under the line to less than $6,000,000 from a period of 60 consecutive days to 30 consecutive days. On October 26, 2016, the Company entered into Amendment No. 13 to the Credit Agreement which, among other things, reduced the maximum availability of $49,750,000 to $49,500,000 to allow for a sub-line for the company's credit card program. On March 13, 2017, the Company entered into Amendment No. 14 to the Credit Agreement which established a $2,500,000 equipment line to facilitate the capital expenditure plan for 2018 and to establish covenants for 2018. On June 8, 2017, the Company entered into Amendment No. 15 to the Credit Agreement which, among other things, will allow the restatement of the amount of revolving advances to $14,000,000 for June 2017 and $11,000,000 for July 2017 and extend the time to borrow under the $2,500,000 Equipment Line until March 12, 2018. On August 7, 2017, the Company entered into Amendment No. 16 to the Credit Agreement with PNC Bank which, among other things, will (a) consent to the acquisition of the building, (b) allow the Company to incur the additional indebtedness and (c) amend the Credit Agreement in certain respects, which Lenders and Agent are willing to do on the terms and subject to the conditions contained in this Amendment. 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 July 31, 2017 and 2016, as all of the long-term debt bears interest at variable rates based on prevailing market conditions.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	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. The Company maintains a partial valuation allowance against certain state deferred tax assets that the Company does not believe it is more-likely-than-not to realize. The Company's tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items. The Company's income tax expense for the three months ended July 31, 2017 was $2.8 million on pre-tax income of $7.9 million or an effective tax rate of 36.2 percent. The Company's income tax expense for the six months ended July 31, 2017 was $1.5 million on pre-tax income of $4.3 million or an effective tax rate of 34.7 percent . For the three months ended July 31, 2016, the Company's income tax expense was $140,000 on pre-tax income of $7.0 million . The Company's income tax expense for the six months ended July 31, 2016 was $170,000 on pre-tax income of $3.9 million . The effective tax rate was substantially lower in the three and six months ended July 31, 2016 principally due to a valuation allowance recorded against the majority of the net deferred tax assets at July 31, 2016. The Company adopted ASU 2016-09 related to stock compensation in the first quarter of fiscal 2018. Upon adoption the balance of the unrecognized excess tax benefits of approximately $172,000 was recognized with the impact recorded to retained earnings. See "Note 3. Recently Adopted Accounting Standards" in the Notes to Condensed Consolidated Financial Statements" for more information regarding the implementation of ASU No. 2016-09. In 2016, the Company closed its IRS examination for its tax return for the year ended January 31, 2013 with no changes. The January 31, 2014 and subsequent years remain open for examination by the IRS and state tax authorities. The Company is not currently under any state examination. Subsequent to the quarter ended July 31, 2017, the Company received a notice from the IRS indicating that the agency will conduct an examination for its fiscal year ended January 31, 2016 Federal tax return. The specific timing of when the resolution of each tax position will be reached is uncertain. As of July 31, 2017, it is reasonably possible that unrecognized tax benefits will decrease by $9,000 within the next 12 months due to the expiration of the statute of limitations.

Net Income (Loss) per Share

Net Income (Loss) per Share	6 Months Ended
	Jul. 31, 2017
Earnings Per Share [Abstract]
Net Income (Loss) per Share	Net Income per Share Three Months Ended Six Months Ended 7/31/2017 7/31/2016 7/31/2017 7/31/2016 (In thousands, except per share data) Net income $ 5,028 $ 6,886 $ 2,817 $ 3,747 Weighted average shares outstanding 15,211 15,036 15,170 15,004 Net effect of dilutive shares - based on the treasury stock method using average market price 74 111 63 96 Totals 15,285 15,147 15,233 15,100 Net income per share - basic $ 0.33 $ 0.46 $ 0.19 $ 0.25 Net income per share - diluted $ 0.33 $ 0.45 $ 0.18 $ 0.25

Stock-Based Compensation and St

Stock-Based Compensation and Stockholders' Rights	6 Months Ended
	Jul. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation and Stockholders' Rights	Stock-Based Compensation Stock Incentive Plans 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. During the quarter ended July 31, 2017 , the Company granted awards for 504,404 shares of restricted stock awards and 188,673 shares of restricted stock awards vested according to their terms. There were approximately 259,832 shares available for future issuance under the 2011 Plan as of July 31, 2017 . 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 no awards during the second quarter ended July 31, 2017. On June 19, 2017, the 2007 Plan expired and no further awards may be made 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 July 31, 2017 and 2016 : Expense for 3 months ended Expense for 6 months ended Unrecognized Date of Grants Units Granted Terms of Vesting 7/31/2017 7/31/2016 7/31/2017 7/31/2016 7/31/2017 2011 Stock Incentive Plan 06/20/2017 40,404 1 year $ 33,000 $ — $ 33,000 $ — $ 166,000 06/20/2017 464,000 5 years 77,000 — 77,000 — 2,216,000 06/21/2016 51,284 1 year 16,000 33,000 66,000 33,000 — 06/21/2016 36,000 3 years 12,000 8,000 24,000 8,000 86,000 06/22/2015 48,000 4 years 8,000 8,000 16,000 16,000 60,000 06/22/2015 27,174 1 year — 6,000 — 25,000 — 06/24/2014 490,000 5 years 60,000 60,000 120,000 120,000 440,000 06/19/2012 520,000 5 years 12,000 37,000 49,000 74,000 — Totals for the period $ 218,000 $ 152,000 $ 385,000 $ 276,000 $ 2,968,000

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jul. 31, 2017
Equity [Abstract]
Stockholders’ Equity	Stockholders’ Equity The Company’s Credit Agreement with PNC restricts the Company from issuing dividends or making payments with respect to the Company's capital stock to an annual limit of $1.3 million . Such dividends payments are also subject to compliance with financial and other covenants provided in the Credit Agreement. The Company adopted ASU 2016-09 related to stock compensation in the first quarter of fiscal 2018. Upon adoption the balance of the unrecognized excess tax benefits of approximately $172,000 was reversed with the impact recorded to retained earnings. See "Note 3. Recently Adopted Accounting Standards" in the Notes to Condensed Consolidated Financial Statements" for more information regarding the implementation of ASU No. 2016-09.

Retirement Plans

Retirement Plans	6 Months Ended
	Jul. 31, 2017
Retirement Benefits [Abstract]
Retirement Plans	Retirement Plans The Company and its subsidiaries cover certain 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 since December 31, 2003. There is no service cost incurred under this plan. 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 and six months ended July 31, 2017 and 2016 were as follows (in thousands): Three Months Ended Pension Plan VIP Plan Non-Employee Directors Retirement Plan 7/31/2017 7/31/2016 7/31/2017 7/31/2016 7/31/2017 7/31/2016 Service cost $ — $ — $ — $ — $ — $ — Interest cost 304 296 89 90 9 3 Expected return on plan assets (342 ) (284 ) — — — — Amortization of transition amount — — — — — — Recognized (gain) loss due to Curtailments — — — — — — Amortization of prior service cost — — — — — — Recognized net actuarial (gain) loss 179 282 60 77 — (29 ) Benefit cost $ 141 $ 294 $ 149 $ 167 $ 9 $ (26 ) Six Months Ended Pension Plan VIP Plan Non-Employee Directors Retirement Plan 7/31/2017 7/31/2016 7/31/2017 7/31/2016 7/31/2017 7/31/2016 Service cost $ — $ — $ — $ — $ — $ — Interest cost 608 592 178 180 18 6 Expected return on plan assets (684 ) (568 ) — — — — Amortization of transition amount — — — — — — Recognized (gain) loss due to Curtailments — — — — — — Amortization of prior service cost — — — — — — Recognized net actuarial (gain) loss 358 564 120 154 — (58 ) Benefit cost $ 282 $ 588 $ 298 $ 334 $ 18 $ (52 )

Warranty Accrual

Warranty Accrual	6 Months Ended
	Jul. 31, 2017
Product Warranties Disclosures [Abstract]
Warranty Accrual	Warranty Accrual The Company provides a warranty against all substantial defects in material and workmanship. The standard warranty offered on products sold through January 31, 2013 is 10 years. Effective February 1, 2014 the Company modified its warranty to a limited lifetime warranty. The warranty effective February 1, 2014 is not anticipated to have a significant effect on warranty expense. Effective January 1, 2017, the Company modified the warranty offered to provide specific warranty periods by product component, with no warranty period longer than ten years. 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 and six months ended July 31, 2017 and 2016 . Three Months Ended Six Months Ended 7/31/2017 7/31/2016 7/31/2017 7/31/2016 (In thousands) Beginning balance $ 1,000 $ 1,000 $ 1,000 $ 1,000 Provision 112 47 182 176 Costs incurred (112 ) (47 ) (182 ) (176 ) Ending balance $ 1,000 $ 1,000 $ 1,000 $ 1,000

Contingencies

Contingencies	6 Months Ended
	Jul. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies The Company has a self-insured retention for product and general liability losses up to $250,000 per occurrence, workers’ compensation liability losses up to $250,000 per occurrence, and for automobile liability losses up to $50,000 per occurrence. The Company has purchased insurance to cover losses in excess of the retention up to a limit of $30,000,000 . 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. 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.

Subsequent Events

Subsequent Events	6 Months Ended
	Jul. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Subsequent to July 31, 2017, the Company purchased a manufacturing building in Conway Arkansas for $7,200,000 with Virco making a 20% down payment and the current owner providing financing for 20 years at 4% per year. The Company has been operating a component fabrication operation in this building since the 1998 under a series of 10 year leases. The current lease would have expired in March 2018. Upon purchase of the building, annual depreciation expense for the building is anticipated to be approximately $300,000 per year less than current rent expense. Annual debt service payments are anticipated to be approximately $300,000 per year less than current rent expense. On August 8, 2017, the Company entered into Amendment No. 16 to the Credit Agreement with PNC Bank which, among other things, will (a) consent to the acquisition of the building, (b) permit the Company to incur the additional indebtedness and (c) amend the Credit Agreement in certain respects, which Lenders and Agent are willing to do on the terms and subject to the conditions contained in this Amendment.

Inventories (Policies)

Inventories (Policies)	6 Months Ended
	Jul. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories Inventory is valued at the lower of cost (determined on a first-in, first-out basis) or Net Realizable Value and includes material, labor, and factory overhead. The Company maintains allowances for estimated slow moving and obsolete inventory to reflect the difference between the cost of inventory and the estimated market value. Allowances for slow moving and obsolete inventory are determined through a physical inspection of the product in connection with a physical inventory, a review of slow-moving product, and consideration of active marketing programs. The market for education furniture is traditionally driven by value, not style, and the Company has not typically incurred significant obsolescence expenses. If market conditions are less favorable than those anticipated by management, additional allowances may be required. Due to reductions in sales volume in the past years, the Company’s manufacturing facilities are operating at reduced levels of capacity. The Company records the cost of excess capacity as a period expense, not as a component of capitalized inventory valuation. The following table presents an updated breakdown of the Company’s net inventory (in thousands) as of July 31, 2017, January 31, 2017 and July 31, 2016: 7/31/2017 1/31/2017 7/31/2016 Finished goods $ 21,912 $ 11,174 $ 22,461 WIP 16,923 13,486 17,250 Raw materials 12,026 11,029 12,160 Inventories, net $ 50,861 $ 35,689 $ 51,871 Management continually monitors production costs, material costs and inventory levels to determine that interim inventories are fairly stated.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 31, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory	The following table presents an updated breakdown of the Company’s net inventory (in thousands) as of July 31, 2017, January 31, 2017 and July 31, 2016: 7/31/2017 1/31/2017 7/31/2016 Finished goods $ 21,912 $ 11,174 $ 22,461 WIP 16,923 13,486 17,250 Raw materials 12,026 11,029 12,160 Inventories, net $ 50,861 $ 35,689 $ 51,871

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jul. 31, 2017
Debt Disclosure [Abstract]
Outstanding balances of long-term debt	Outstanding balances (in thousands) for the Company’s long-term debt were as follows: 7/31/2017 1/31/2017 7/31/2016 (in thousands) Revolving credit line $ 35,924 $ 4,914 $ 36,979 Other 63 97 25 Total debt 35,987 5,011 37,004 Less current portion 29,987 68 31,068 Non-current portion $ 6,000 $ 4,943 $ 5,936

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	6 Months Ended
	Jul. 31, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended Six Months Ended 7/31/2017 7/31/2016 7/31/2017 7/31/2016 (In thousands, except per share data) Net income $ 5,028 $ 6,886 $ 2,817 $ 3,747 Weighted average shares outstanding 15,211 15,036 15,170 15,004 Net effect of dilutive shares - based on the treasury stock method using average market price 74 111 63 96 Totals 15,285 15,147 15,233 15,100 Net income per share - basic $ 0.33 $ 0.46 $ 0.19 $ 0.25 Net income per share - diluted $ 0.33 $ 0.45 $ 0.18 $ 0.25

Stock-Based Compensation and 25

Stock-Based Compensation and Stockholders' Rights (Tables)	6 Months Ended
	Jul. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Restricted Stock and Stock Unit Award Activity	The following table presents a summary of restricted stock and stock unit awards at July 31, 2017 and 2016 : Expense for 3 months ended Expense for 6 months ended Unrecognized Date of Grants Units Granted Terms of Vesting 7/31/2017 7/31/2016 7/31/2017 7/31/2016 7/31/2017 2011 Stock Incentive Plan 06/20/2017 40,404 1 year $ 33,000 $ — $ 33,000 $ — $ 166,000 06/20/2017 464,000 5 years 77,000 — 77,000 — 2,216,000 06/21/2016 51,284 1 year 16,000 33,000 66,000 33,000 — 06/21/2016 36,000 3 years 12,000 8,000 24,000 8,000 86,000 06/22/2015 48,000 4 years 8,000 8,000 16,000 16,000 60,000 06/22/2015 27,174 1 year — 6,000 — 25,000 — 06/24/2014 490,000 5 years 60,000 60,000 120,000 120,000 440,000 06/19/2012 520,000 5 years 12,000 37,000 49,000 74,000 — Totals for the period $ 218,000 $ 152,000 $ 385,000 $ 276,000 $ 2,968,000

Retirement Plans (Tables)

Retirement Plans (Tables)	6 Months Ended
	Jul. 31, 2017
Retirement Benefits [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 and six months ended July 31, 2017 and 2016 were as follows (in thousands): Three Months Ended Pension Plan VIP Plan Non-Employee Directors Retirement Plan 7/31/2017 7/31/2016 7/31/2017 7/31/2016 7/31/2017 7/31/2016 Service cost $ — $ — $ — $ — $ — $ — Interest cost 304 296 89 90 9 3 Expected return on plan assets (342 ) (284 ) — — — — Amortization of transition amount — — — — — — Recognized (gain) loss due to Curtailments — — — — — — Amortization of prior service cost — — — — — — Recognized net actuarial (gain) loss 179 282 60 77 — (29 ) Benefit cost $ 141 $ 294 $ 149 $ 167 $ 9 $ (26 ) Six Months Ended Pension Plan VIP Plan Non-Employee Directors Retirement Plan 7/31/2017 7/31/2016 7/31/2017 7/31/2016 7/31/2017 7/31/2016 Service cost $ — $ — $ — $ — $ — $ — Interest cost 608 592 178 180 18 6 Expected return on plan assets (684 ) (568 ) — — — — Amortization of transition amount — — — — — — Recognized (gain) loss due to Curtailments — — — — — — Amortization of prior service cost — — — — — — Recognized net actuarial (gain) loss 358 564 120 154 — (58 ) Benefit cost $ 282 $ 588 $ 298 $ 334 $ 18 $ (52 )

Warranty Accrual (Tables)

Warranty Accrual (Tables)	6 Months Ended
	Jul. 31, 2017
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	The following is a summary of the Company’s warranty-claim activity for the three and six months ended July 31, 2017 and 2016 . Three Months Ended Six Months Ended 7/31/2017 7/31/2016 7/31/2017 7/31/2016 (In thousands) Beginning balance $ 1,000 $ 1,000 $ 1,000 $ 1,000 Provision 112 47 182 176 Costs incurred (112 ) (47 ) (182 ) (176 ) Ending balance $ 1,000 $ 1,000 $ 1,000 $ 1,000

Seasonality (Details)

Seasonality (Details)	6 Months Ended
	Jul. 31, 2017
Sales [Member]
Seasonality (Textual) [Abstract]
The market for educational furniture is marked by extreme seasonality	50.00%

New Accounting Standards (Detai

New Accounting Standards (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 31, 2017	Jul. 31, 2017
Accounting Standards Update 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unrecognized excess tax benefits reversed	$ 172	$ 172

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jul. 31, 2017	Jan. 31, 2017	Jul. 31, 2016
Inventory Disclosure [Abstract]
Finished goods	$ 21,912	$ 11,174	$ 22,461
WIP	16,923	13,486	17,250
Raw materials	12,026	11,029	12,160
Inventories, net	$ 50,861	$ 35,689	$ 51,871

Inventories Narrative (Details)

Inventories Narrative (Details) - USD ($) $ in Thousands	Jul. 31, 2017	Jan. 31, 2017	Jul. 31, 2016
Inventory Disclosure [Abstract]
Finished goods	$ 21,912	$ 11,174	$ 22,461
WIP	16,923	13,486	17,250
Raw materials	$ 12,026	$ 11,029	$ 12,160

Debt (Long-term Debt) (Details)

Debt (Long-term Debt) (Details) - USD ($) $ in Thousands	Jul. 31, 2017	Jan. 31, 2017	Jul. 31, 2016
Debt Instrument [Line Items]
Long-term debt	$ 35,987	$ 5,011	$ 37,004
Less current portion	29,987	68	31,068
Non-current portion	6,000	4,943	5,936
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt	35,924	4,914	36,979
Other Debt [Member]
Debt Instrument [Line Items]
Long-term debt	$ 63	$ 97	$ 25

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	Apr. 03, 2016	Jul. 31, 2017	Jun. 30, 2017	Mar. 13, 2017	Oct. 26, 2016	Oct. 25, 2016
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate at Period End		4.80%
Company restriction from issuing dividends or making payments with respect to the Company's Capital Stock to it's annual limit		$ 1,300,000
Provision to reduce borrowings under the line		$ 6,000,000
Provision to reduce borrowings under the line, period	60 days	30 days
PNC [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Remaining borrowing capacity		$ 31,938,000
Revolving advances		$ 11,000,000	$ 14,000,000
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					$ 49,500,000	$ 49,750,000
Line of Credit Facility, Capacity Available for Equipment Financing				$ 2,500,000
Eurodollar [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of		1.50%
Eurodollar [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of		2.50%
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		0.50%
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		1.50%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax expense (benefit)	$ 2,849,000	$ 140,000	$ 1,500,000	$ 170,000
Income (Loss) before income taxes	$ 7,877,000	$ 7,026,000	$ 4,317,000	$ 3,917,000
Effective tax rate (percent)	36.20%		34.70%
Reasonably possible decrease in unrecognized tax benefits	$ 9,000		$ 9,000
Accounting Standards Update 2016-09 [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized excess tax benefits reversed	$ 172,000		$ 172,000

Net Income (Loss) per Share (De

Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Earnings Per Share [Abstract]
Net income (loss)	$ 5,028	$ 6,886	$ 2,817	$ 3,747
Weighted average shares outstanding (shares)	15,211	15,036	15,170	15,004
Net effect of dilutive share-based on the treasury stock method using average market price (shares)	74	111	63	96
Totals (shares)	15,285	15,147	15,233	15,100
Net income (loss) per share - basic (usd per share)	$ 0.33	$ 0.46	$ 0.19	$ 0.25
Net income (loss) per share - diluted (usd per share)	$ 0.33	$ 0.45	$ 0.18	$ 0.25

Stock-Based Compensation and 36

Stock-Based Compensation and Stockholders' Rights (Narrative) (Details) - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Jul. 31, 2017shares
2011 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant of stock option or awards (shares)	2,000,000
Granted in the period (shares)	504,404
Vested in period (shares)	188,673
Stock available for future issuance (shares)	259,832
2007 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant of stock option or awards (shares)	1,000,000
Granted in the period (shares)	0

Stock-Based Compensation and 37

Stock-Based Compensation and Stockholders' Rights (Restricted Stock Units) (Details) - Restricted Stock Units (RSUs) [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Summary of restricted stock and stock unit awards
Expense	$ 218,000	$ 152,000	$ 385,000	$ 276,000
Unrecognized compensation cost	$ 2,968,000		$ 2,968,000
2011 Plan [Member]
Summary of restricted stock and stock unit awards
Units granted (units)	504,404
2011 Plan [Member] | June 20, 2017 [Member] | 1 year [Member]
Summary of restricted stock and stock unit awards
Units granted (units)			40,404
Terms of vesting			1 year
Expense	$ 33,000	0	$ 33,000	0
Unrecognized compensation cost	166,000		$ 166,000
2011 Plan [Member] | June 20, 2017 [Member] | 5 years [Member]
Summary of restricted stock and stock unit awards
Units granted (units)			464,000
Terms of vesting			5 years
Expense	77,000	0	$ 77,000	0
Unrecognized compensation cost	2,216,000		$ 2,216,000
2011 Plan [Member] | June 21, 2016 [Member] | 1 year [Member]
Summary of restricted stock and stock unit awards
Units granted (units)			51,284
Terms of vesting			1 year
Expense	16,000	33,000	$ 66,000	33,000
Unrecognized compensation cost	0		$ 0
2011 Plan [Member] | June 21, 2016 [Member] | 3 years [Member]
Summary of restricted stock and stock unit awards
Units granted (units)			36,000
Terms of vesting			3 years
Expense	12,000	8,000	$ 24,000	8,000
Unrecognized compensation cost	86,000		$ 86,000
2011 Plan [Member] | June 22, 2015 [Member] | 1 year [Member]
Summary of restricted stock and stock unit awards
Units granted (units)			27,174
Terms of vesting			1 year
Expense	0	6,000	$ 0	25,000
Unrecognized compensation cost	0		$ 0
2011 Plan [Member] | June 22, 2015 [Member] | 4 years [Member]
Summary of restricted stock and stock unit awards
Units granted (units)			48,000
Terms of vesting			4 years
Expense	8,000	8,000	$ 16,000	16,000
Unrecognized compensation cost	60,000		$ 60,000
2011 Plan [Member] | June 24, 2014 [Member] | 5 years [Member]
Summary of restricted stock and stock unit awards
Units granted (units)			490,000
Terms of vesting			5 years
Expense	60,000	60,000	$ 120,000	120,000
Unrecognized compensation cost	440,000		$ 440,000
2011 Plan [Member] | June 19, 2012 [Member] | 5 years [Member]
Summary of restricted stock and stock unit awards
Units granted (units)			520,000
Terms of vesting			5 years
Expense	12,000	$ 37,000	$ 49,000	$ 74,000
Unrecognized compensation cost	$ 0		$ 0

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 31, 2017	Jul. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Company restriction from issuing dividends or making payments with respect to the Company's Capital Stock to it's annual limit		$ 1,300
Accounting Standards Update 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unrecognized excess tax benefits reversed	$ 172	$ 172

Retirement Plans (Narrative) (D

Retirement Plans (Narrative) (Details)	6 Months Ended
	Jul. 31, 2017
VIP Retirement Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Rate of compensation increase	50.00%
Benefit Of Average Compensation Years	5 years
Other Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Director providing service to company	10 years

Retirement Plans (Periodic Pens

Retirement Plans (Periodic Pension Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Pension Plan [Member]
Components of Net Cost
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	304	296	608	592
Expected return on plan assets	(342)	(284)	(684)	(568)
Amortization of transition amount	0	0	0	0
Recognized (gain) loss due to curtailments	0	0	0	0
Amortization of prior service cost	0	0	0	0
Recognized net actuarial (gain) loss	179	282	358	564
Benefit cost	141	294	282	588
VIP Retirement Plan [Member]
Components of Net Cost
Service cost	0	0	0	0
Interest cost	89	90	178	180
Expected return on plan assets	0	0	0	0
Amortization of transition amount	0	0	0	0
Recognized (gain) loss due to curtailments	0	0	0	0
Amortization of prior service cost	0	0	0	0
Recognized net actuarial (gain) loss	60	77	120	154
Benefit cost	149	167	298	334
Non-Employee Directors Retirement Plan [Member]
Components of Net Cost
Service cost	0	0		0
Interest cost	9	3	18	6
Expected return on plan assets	0	0	0	0
Amortization of transition amount	0	0	0	0
Recognized (gain) loss due to curtailments	0	0	0	0
Amortization of prior service cost	0	0	0	0
Recognized net actuarial (gain) loss	0	(29)	0	(58)
Benefit cost	$ 9	$ (26)	$ 18	$ (52)

Warranty (Details)

Warranty (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Warranty claim activity
Beginning balance	$ 1,000	$ 1,000	$ 1,000	$ 1,000
Provision	112	47	182	176
Costs incurred	(112)	(47)	(182)	(176)
Ending balance	$ 1,000	$ 1,000	$ 1,000	$ 1,000
Maximum [Member]
Warranty [Line Items]
Product warranty period			10 years

Contingencies (Details)

Contingencies (Details) - Maximum [Member]	Jul. 31, 2017USD ($)
Loss Liability [Member]
Loss Contingencies [Line Items]
Self insurance retention	$ 30,000,000
Automobile Liability Loss [Member]
Loss Contingencies [Line Items]
Self insurance retention	50,000
Workers compensation Liability Insurance [Member]
Loss Contingencies [Line Items]
Self insurance retention	250,000
Product and General Liability Insurance [Member]
Loss Contingencies [Line Items]
Self insurance retention	$ 250,000

Subsequent (Details)

Subsequent (Details) - Scenario, Forecast [Member] - Subsequent Event [Member] $ in Thousands	Aug. 01, 2017USD ($)
Subsequent Event [Line Items]
Purchase Agreement	$ 7,200
Purchase Agreement, Down Payment (percentage)	20.00%
Purchase Agreement, Financing Period	20 years
Purchase Agreement, Financing, Interest Rate	4.00%
Anticipated decrease in annual depreciation as compared to current year rent expense	$ 300
Annual debt service less than rent expense	$ 300