Virco Mfg. (VIRC) 10-Q 14 Dec 18 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2018	Dec. 10, 2018	Jul. 31, 2018
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	Oct. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--01-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		15,541,956
Entity Public Float			$ 80,352,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018	Oct. 31, 2017
Current assets:
Cash	$ 2,481	$ 534	$ 1,536
Trade accounts receivables, net	24,281	11,385	21,120
Other receivables	340	29	58
Income tax receivable	157	171	200
Inventories	42,670	42,057	36,377
Prepaid expenses and other current assets	1,547	1,537	1,536
Total current assets	71,476	55,713	60,827
Property, plant and equipment:
Land	3,731	3,731	3,731
Land improvements	688	688	688
Buildings and building improvements	51,176	51,176	51,176
Machinery and equipment	106,896	103,015	101,894
Leasehold improvements	828	809	805
Total property, plant and equipment	163,319	159,419	158,294
Less accumulated depreciation and amortization	121,254	116,977	115,551
Net property, plant and equipment	42,065	42,442	42,743
Deferred tax assets, net	8,422	10,093	13,793
Other assets	8,563	8,375	8,282
Total assets	130,526	116,623	125,645
Current liabilities:
Accounts payable	18,052	14,106	13,623
Accrued compensation and employee benefits	5,432	4,779	6,106
Current portion of long-term debt	6,232	4,681	3,278
Other accrued liabilities	4,645	4,157	5,047
Total current liabilities	34,361	27,723	28,054
Non-current liabilities:
Accrued self-insurance retention	1,952	1,425	1,613
Accrued pension expenses	14,530	14,664	17,404
Income tax payable	42	44	33
Long-term debt, less current portion	13,980	12,000	11,310
Other long-term liabilities	2,377	2,055	1,657
Total non-current liabilities	32,881	30,188	32,017
Commitments and contingencies (Notes 5 and 12)
Preferred stock:
Authorized 3,000,000 shares, $0.01 par value; none issued or outstanding	0	0	0
Common stock:
Authorized 25,000,000 shares, $0.01 par value; issued and outstanding 15,541,956 shares at 10/31/2018 and 15,357,457 at 1/31/2018 and 10/31/2017	155	154	154
Additional paid-in capital	117,871	117,465	117,237
Accumulated deficit	(45,510)	(49,648)	(40,868)
Accumulated other comprehensive loss	(9,232)	(9,259)	(10,949)
Total stockholders’ equity	63,284	58,712	65,574
Total liabilities and stockholders’ equity	$ 130,526	$ 116,623	$ 125,645

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 31, 2018	Jan. 31, 2018	Oct. 31, 2017
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)	15,541,956	15,357,457	15,357,457
Common stock, shares outstanding (shares)	15,541,956	15,357,457	15,357,457

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income Unaudited - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Income Statement [Abstract]
Net sales	$ 76,809	$ 68,794	$ 174,180	$ 164,665
Costs of goods sold	50,379	44,327	112,933	105,088
Gross profit	26,430	24,467	61,247	59,577
Selling, general and administrative expenses	21,765	19,798	52,756	49,768
Gain on sale of property, plant & equipment	0	(15)	(1)	(16)
Operating income	4,665	4,684	8,492	9,825
Interest expense, net	630	456	1,898	1,280
Income (loss) before income taxes	4,035	4,228	6,594	8,545
Income tax (benefit) expense	1,103	1,704	1,759	3,204
Net income (loss)	$ 2,932	$ 2,524	$ 4,835	$ 5,341
Dividend declared per share: Cash (usd per share)	$ 0.015	$ 0	$ 0.045	$ 0
Net income (loss) per common share:
Basic (usd per share)	0.19	0.16	0.31	0.35
Diluted (usd per share)	$ 0.19	$ 0.16	$ 0.31	$ 0.35
Weighted average shares outstanding:
Basic (shares)	15,486	15,317	15,399	15,220
Diluted (shares)	15,582	15,483	15,491	15,324

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) Unaudited - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 2,932	$ 2,524	$ 4,835	$ 5,341
Other comprehensive income
Pension adjustments	1,376	148	27	444
Comprehensive income (loss)	$ 4,308	$ 2,672	$ 4,862	$ 5,785

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) Unaudited (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Statement of Comprehensive Income [Abstract]
Pension adjustments, tax	$ 487	$ 92	$ 10	$ 276

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows Unaudited - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017
Operating activities
Net income (loss)	$ 4,835	$ 5,341
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	4,288	4,041
Provision for doubtful accounts	60	60
Gain on sale of property, plant and equipment	(1)	(16)
Deferred income taxes	1,671	3,387
Stock-based compensation	673	602
Defined pension plan settlement	341	0
Amortization of net actuarial loss for pension plans	600	444
Changes in operating assets and liabilities:
Trade accounts receivable	(12,956)	(11,265)
Other receivables	(311)	152
Inventories	(613)	(688)
Income taxes	13	73
Prepaid expenses and other current assets	(199)	152
Accounts payable and accrued liabilities	4,418	1,721
Net cash provided by (used in) operating activities	2,819	4,004
Investing activities
Capital expenditures	(3,319)	(12,521)
Proceeds from sale of property, plant and equipment	3	28
Net cash provided by (used in) investing activities	(3,316)	(12,493)
Financing activities
Proceeds from long-term debt	51,033	36,742
Repayment of long-term debt	(47,503)	(27,166)
Payments of Financing Costs	(124)	0
Tax withholding payments on share-based compensation	(265)	(339)
Cash dividends paid	(697)	0
Net cash provided by (used in) financing activities	2,444	9,237
Net increase in cash	1,947	748
Cash at beginning of year	534	788
Cash at end of year	$ 2,481	$ 1,536

Basis of Presentation

Basis of Presentation	9 Months Ended
	Oct. 31, 2018
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 (U.S. GAAP) 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 notes required by generally accepted accounting principles for complete financial statements and are presented in accordance with the requirements of Form 10-Q and Rule 10-01 of Regulation S-X. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2018 (“Form 10-K”). In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the nine months ended October 31, 2018 , are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2019 . The balance sheet at January 31, 2018 , has been derived from the audited consolidated financial statements at that date, but does not include all of the information and notes required by accounting principles generally accepted in the United States for complete financial statements. All references to the “Company” refer to Virco Mfg. Corporation and its subsidiaries.

Seasonality

Seasonality	9 Months Ended
	Oct. 31, 2018
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 educational institutions and government entities, which tend to pay accounts receivable slower 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	9 Months Ended
	Oct. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Standards	New Accounting Pronouncements Recently Adopted Accounting Updates 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 Company adopted ASU 2014-09 effective February 1, 2018 using the modified retrospective method to apply this guidance to all open contracts at the date of initial application. The results of applying Topic 606 were insignificant and did not have a material impact on our consolidated financial condition, results of operations, cash flows, business process, controls or systems. The Company manufactures, markets and distributes a wide variety of school and office furniture to wholesalers, distributors, educational institutions and governmental entities. Revenue is recorded for promised goods or services when control is transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. Contractual Arrangements with Customers The Company's sales generally involve a single performance obligation to deliver goods pursuant to customer purchase orders. Prices for our products are based on published price lists and customer agreements. The Company has determined that the performance obligations are satisfied at a point in time when the Company completes delivery per the customer contract. The majority of sales are free on board (FOB) destination where the destination is specified per the customer contract and may include delivering the furniture into the classroom, school site or warehouse. Sales of furniture that are sold FOB factory are typically made to resellers of our product who in turn provide logistics to the ultimate customer. Once a product has been delivered per the shipping terms, the customer is able to direct the use of, and obtain substantially all of the remaining benefits from, the asset. The Company considers control to have transferred upon shipment or delivery in accordance with shipping terms because the Company has a present right to payment at that time, the customer has legal title to the asset, the Company has transferred physical possession of the asset, and the customer has significant risks and rewards of ownership of the asset. Sales are recorded net of discounts, sales incentives and rebates, sales taxes and estimated returns and allowances. The Company offers sales incentives and discounts through various regional and national programs to our customers. These programs include product rebates, product returns allowances and trade promotions. Variable consideration for these programs is estimated in the transaction price at contract inception based on current sales levels and historical experience using the expected value method, subject to constraint. The Company generates revenue primarily by manufacturing and distributing products through resellers and direct-to-customers. Control transfers to both resellers and direct customers at a point in time when the delivery process is complete as determined by the corresponding shipping terms. Therefore, we do not consider them to be meaningfully different revenue streams given similarities in the nature of the products, performance obligation and distribution processes. Sales are predominately in the United States and to a similar class of customer. We do not manage or evaluate the business based on product line or any other discernable category. For product produced by and sourced from third parties, management has determined that it is the principal in all cases, since it (i) bears primary responsibility for fulfilling the promise to the customer; (ii) bears inventory risk before and/or after the good or service is transferred to the customer; and (iii) has discretion in establishing the price for the sale of good or service to the customer. Contract Assets and Liabilities Payment terms are established on the Company’s pre-established credit requirements based upon an evaluation of customers’ credit quality. Most customers obtain payment terms between 1-30 days and an asset is recognized for the related accounts receivable. Contract liabilities are recognized for contracts where payment has been received in advance of delivery. The contract liability balance can vary significantly depending on the timing of when an order is placed and when shipment or delivery occurs. As of October 31, 2018, other than accounts receivable, the Company had no material contract assets, contract liabilities or deferred contract costs recorded on its condensed consolidated balance sheet. Costs of fulfilling customers’ purchase orders, such as shipping, handling and delivery, which occur prior to the transfer of control, are recognized in selling, general and administrative expense when incurred. Practical Expedients & Optional Exemptions Significant Financing Component - as we expect the period between when we transfer control of the promised good or service to a customer and when the customer pays for that good or service will be one year or less, the Company elected to apply the practical expedient for significant financing components. Remaining Performance Obligations - due to the short-term duration of the Company’s contracts with customers and fulfillment of performance obligations, the Company has elected not to disclose the information regarding the remaining performance obligations as of the end of each reporting period or when the Company expects to recognize this revenue. Cost to Obtain a Customer - we pay certain costs to obtain a customer contract such as commissions. As our customer contracts have a contractual term of one year or less, we have elected to apply the practical expedient and expense these costs in selling, general and administrative expense as incurred, which is consistent with our historical practice. Recently Issued Accounting Updates In February 2016, the FASB issued ASU No. 2016-02, Leases ("Topic 842"). 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’s fiscal year beginning after December 15, 2018 and required a modified retrospective transition approach. However, the FASB issued ASU No. 2018-11, allowing entities the ability to elect not to recast the comparative periods presented when transitioning to Topic 842, as was previously required under the modified retrospective transition approach. While still evaluating the effect, the standard will have on consolidated financial statements and related disclosures, the Company has determined that the primary impact will be to recognize on the balance sheet all leases with lease terms greater than 12 months and that we will elect not to recast the comparative periods presented as allowed under ASU No. 2018-11. It is expected that this standard will have a material impact on the Company’s consolidated balance sheet in recognizing the right-of-use asset and related lease liability. In August 2018, the FASB issued ASU No. 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans, to improve the effectiveness of disclosures in the notes to financial statements for employers that sponsor defined benefit pension plans. ASU No. 2018-14 is effective for financial statements issued for fiscal years ending after December 15, 2020, and early adoption is permitted. The Company is currently assessing the impact of this update on its notes to financial statements. Other recently issued accounting updates are not expected to have a material impact on the Company’s consolidated financial statements.

Inventories

Inventories	9 Months Ended
	Oct. 31, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are 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 net realizable 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 breakdown of the Company’s inventories as of October 31, 2018, January 31, 2018 and October 31, 2017 (in thousands): 10/31/2018 1/31/2018 10/31/2017 Finished goods $ 14,552 $ 13,054 $ 11,890 WIP 16,633 16,627 13,988 Raw materials 11,485 12,376 10,499 Inventories $ 42,670 $ 42,057 $ 36,377 Management continually monitors production costs, material costs and inventory levels to determine that interim inventories are fairly stated.

Debt

Debt	9 Months Ended
	Oct. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt Outstanding balances for the Company’s long-term debt were as follows (in thousands): 10/31/2018 1/31/2018 10/31/2017 Revolving credit line $ 13,245 $ 10,059 $ 8,814 Other 6,967 6,622 5,774 Total debt 20,212 16,681 14,588 Less current portion 6,232 4,681 3,278 Non-current portion $ 13,980 $ 12,000 $ 11,310 On December 22, 2011, the Company entered into a Revolving Credit and Security Agreement (the “Credit Agreement”) with PNC Bank, National Association, as administrative agent and lender (“PNC”). The credit agreement has been amended seventeen times subsequent to that date. On March 19, 2018, the Company entered into amendment No. 17, which amended the Credit Agreement by (i) extending the maturity date of the Credit Agreement for three years until March 19, 2023, (ii) allowing dividends and stock buyback up to $2,000,000 in aggregate for any fiscal year, (iii) setting forth the minimum EBITDA financial covenant for fiscal quarter ended April 30, 2018 at ( $3,767,000 ) and two consecutive fiscal quarters ending July 31, 2018 at $6,402,000 , (iv) increasing the Maximum Revolving Advance Amount from $50,000,000 to $60,000,000 and (v) setting forth the minimum fixed charge coverage ratio of not less than 1.10 to 1.00, commencing with the consecutive four fiscal quarter period ending October 31, 2018 and measured as of the end of each fiscal quarter until the maturity date of the Credit Agreement. In connection with amendment No. 17, the Borrowers also agreed to pay to PNC Bank a non-refundable extension fee of $250,000 . For the quarter ended October 31, 2018, the Company was in compliance with its financial covenants. The Credit Agreement provides the Company ("Borrowers") with a secured revolving line of credit (the “Revolving Credit Facility”) of up to $60,000,000 , with seasonal adjustments to the credit limit and subject to borrowing base limitations and includes a sub-limit of up to $3,000,000 for issuances of letters of credit. In addition, the Credit Agreement provides an equipment line for purchases of equipment up to $2,500,000 . The Revolving Credit Facility is an asset-based line of credit that is subject to a borrowing base limitation and generally provides for advances of up to 85% of eligible accounts receivable, plus a percentage equal to the lesser of 60% of the value of eligible inventory or 85% of the liquidation value of eligible inventory, plus an amount ranging from $8,000,000 to $14,000,000 from December 1 through July 31 of each year, minus undrawn amounts of letters of credit and reserves. The Revolving Credit Facility is secured by substantially all of the Borrowers' personal property and certain of the Borrowers' real property. The principal amount outstanding under the Credit Agreement and any accrued and unpaid interest is due no later than March 19, 2023, and the Revolving Credit Facility is subject to certain prepayment penalties upon earlier termination of the Revolving Credit Facility. Prior to the maturity date, principal amounts outstanding under the Credit Agreement may be repaid and reborrowed at the option of the Borrowers without premium or penalty, subject to borrowing base limitations, seasonal adjustments and certain other conditions. The Revolving Credit Facility bears interest, at the Borrowers' option, at either the Alternate Base Rate (as defined in the Credit Agreement) or the Eurodollar Currency Rate (as defined in the Credit Agreement), in each case plus an applicable margin. The applicable margin for Alternate Base Rate loans is a percentage within a range of 0.50% to 1.50% and the applicable margin for Eurodollar Currency Rate loans is a percentage within a range of 1.50% to 2.50% in each case based on the EBITDA of the Borrowers at the end of each fiscal quarter and may be increased at PNC's option by 2.0% during the continuance of an event of default. Accrued interest with respect to principal amounts outstanding under the Credit Agreement is payable in arrears on a monthly basis for Alternative Base Rate loans and at the end of the applicable interest period but at most every three months for Eurodollar Currency Rate loans. The interest rate at October 31, 2018 was 6.25% . In addition, the Credit Agreement contains a clean-down provision that requires the Company to reduce borrowings under the line to less than $8,000,000 for a period of 30 consecutive days during the fourth quarter of each year. The Company believes that normal operating cash flow will allow it to meet the clean-down requirement with no adverse impact on the Company's liquidity. Events of default (subject to certain cure periods and other limitations) under the Credit Agreement include, but are not limited to, (i) non-payment of principal, interest or other amounts due under the Credit Agreement, (ii) the violation of terms, covenants, representations or warranties in the Credit Agreement or related loan documents, (iii) any event of default under agreements governing certain indebtedness of the Borrowers and certain defaults by the Borrowers under other agreements that would materially adversely affect the Borrowers, (iv) certain events of bankruptcy, insolvency or liquidation involving the Borrowers, (v) judgments or judicial actions against the Borrowers in excess of $250,000 , subject to certain conditions, (vi) the failure of the Company to comply with Pension Benefit Plans (as defined in the Credit Agreement), (vii) the invalidity of loan documents pertaining to the Credit Agreement, (viii) a change of control of the Borrowers and (ix) the interruption of operations of any of the Borrowers' manufacturing facilities for five consecutive days during the peak season or fifteen consecutive days during any other time, subject to certain conditions. 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. Due to this automatic liquidating nature of the Revolving Credit Facility, if the Borrowers breach any covenant, violate any representation or warranty or suffer a deterioration in their ability to borrow pursuant to the borrowing base calculation, the Borrowers may not have access to cash liquidity unless provided by PNC at its discretion. In addition, certain of the covenants and representations and warranties set forth in the Credit Agreement contain limited or no materiality thresholds, and many of the representations and warranties must be true and correct in all material respects upon each borrowing, which the Borrowers expect to occur on an ongoing basis. There can be no assurance that the Borrowers will be able to comply with all such covenants and be able to continue to make such representations and warranties on an ongoing basis. The Company's line of credit with PNC is structured to provide seasonal credit availability during the Company's peak summer season. The Company believes that the Revolving Credit Facility will provide sufficient liquidity to meet its capital requirements in the next 12 months . Approximately $9,930,000 was available for borrowing as of October 31, 2018 .

Income Taxes

Income Taxes	9 Months Ended
	Oct. 31, 2018
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. On December 22, 2017, Staff Accounting Bulletin No. 118 was issued to address the application of US GAAP in situations when a registrant does not have the necessary information available, prepared or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Cuts and Jobs Act. In accordance with SAB 118, we have determined that $4,438,000 of the deferred tax expense recorded in connection with the remeasurement of certain deferred tax assets and liabilities was provisional amount and reasonable estimate at January 31, 2018. Through October 31, 2018, we have not made any material adjustments to the provisional amount and we consider this amount as the final calculation. The January 31, 2015 and subsequent years remain open for examination by the IRS and state tax authorities. The Company is not currently under any state examination. The Company is currently under IRS examination for its fiscal year ended January 31, 2016 Federal tax return.

Net Income (Loss) per Share

Net Income (Loss) per Share	9 Months Ended
	Oct. 31, 2018
Earnings Per Share [Abstract]
Net Income (Loss) per Share	Net Income per Share Three Months Ended Nine Months Ended 10/31/2018 10/31/2017 10/31/2018 10/31/2017 (In thousands, except per share data) Net income $ 2,932 $ 2,524 $ 4,835 $ 5,341 Weighted average shares of common stock outstanding 15,486 15,317 15,399 15,220 Net effect of dilutive shares - based on the treasury stock method using average market price 96 166 92 104 Totals 15,582 15,483 15,491 15,324 Net income per share - basic $ 0.19 $ 0.16 $ 0.31 $ 0.35 Net income per share - diluted $ 0.19 $ 0.16 $ 0.31 $ 0.35

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Oct. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation	Stock-Based Compensation Stock Incentive 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. There were no stock awards granted, vested and forfeited during the quarter ended October 31, 2018 and 2017. For the nine months ended October 31, 2018, the Company granted 55,555 shares of restricted stock awards, vested 226,804 shares of restricted stock awards according to their terms and forfeited 20,000 shares. There were approximately 268,277 shares available for future issuance under the 2011 Plan as of October 31, 2018 . As of October 31, 2018 , there was $ 1,828,000 of unrecognized compensation expense related to unvested restricted stock units, which is expected to be recognized over a weighted average period of approximately 3 years. During the three months ended October 31, 2018 , stock-based compensation expense related to restricted stock awards recognized in cost of goods sold and selling, general and administrative expenses was $60,000 and $175,000 , respectively. During third quarter ended October 31, 2017, stock-based compensation expense related to restricted stock awards recognized in cost of goods sold and selling, general and administrative expenses was $59,000 and $157,000 , respectively. During the nine months ended October 31, 2018, stock-based compensation expense related to restricted stock awards recognized in cost of goods sold and selling, general and administrative expenses was $178,000 and $495,000 , respectively. During the nine months ended October 31, 2017, stock-based compensation expense related to restricted stock awards recognized in cost of goods sold and selling, general and administrative expenses was $136,000 and $466,000 , respectively.

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Oct. 31, 2018
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 $2 million . Such dividends payments are also subject to compliance with financial and other covenants provided in the Credit Agreement. In September 2018, the Company declared a quarterly cash dividend of $0.015 per share, payable October 10, 2018 to shareholders of record as of September 26, 2018.

Retirement Plans

Retirement Plans	9 Months Ended
	Oct. 31, 2018
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. There is no service cost incurred under this plan. 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. During the nine months ended October 31, 2018, the Company, at the retirees' request, paid lump-sum distributions for the related benefit obligations. As the amount of the lump-sum settlement exceeded the sum of the service and interest cost for the year, the distribution was treated as a settlement in accordance with U.S. GAAP, resulting in plan settlement loss of $22,000 and $341,000 for the three and nine months ended October 31, 2018. All settlement costs were recorded in the selling, general and administrative expenses in the accompanying condensed consolidated statements of income and an actuarial gain on the plan re-measurement of $1,376,000 and $27,000 , net of tax, recorded to accumulated other comprehensive income for the three and nine months ended October 31, 2018. The net periodic pension cost (income) for the Pension Plan and the VIP Plan for the three months and nine months ended October 31, 2018 and 2017 were as follows (in thousands): Three Months Ended Pension Plan VIP Plan 10/31/2018 10/31/2017 10/31/2018 10/31/2017 Service cost — — — — Interest cost 281 304 89 89 Expected return on plan assets (348 ) (342 ) — — Plan settlement 22 — — — Amortization of prior service cost — — — — Recognized net actuarial (gain) loss 171 179 82 60 Benefit cost $ 126 $ 141 $ 171 $ 149 Nine Months Ended Pension Plan VIP Plan 10/31/2018 10/31/2017 10/31/2018 10/31/2017 Service cost $ — — — — Interest cost 813 912 267 267 Expected return on plan assets (1,162 ) (1,026 ) — — Plan settlement 341 — — — Amortization of prior service cost — — — — Recognized net actuarial (gain) loss 351 537 246 180 Benefit cost $ 343 $ 423 $ 513 $ 447 401(k) Retirement Plan The Company’s retirement plan, which covers all U.S. employees, allows participants to defer from 1% to 75% of their eligible compensation through a 401(k)-retirement program. Through December 31, 2001, the plan included an employee stock ownership component. The plan continues to include Virco stock as one of the investment options. At October 31, 2018 and 2017 , the plan held 646,984 shares and 556,633 shares of Virco stock, respectively. For the quarter ended October 31, 2018 , the Company made a contribution to employees enrolled in the Plan in connection with an auto-enrollment program and initiated a Company match effective January 1, 2018. For the nine months ended October 31, 2018 , the compensation costs incurred for employer match was $553,000 . There was no employer match for same period ended October 31, 2017.

Warranty Accrual

Warranty Accrual	9 Months Ended
	Oct. 31, 2018
Product Warranties Disclosures [Abstract]
Warranty Accrual	Warranty Accrual The Company provides an assurance type 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 months and nine months ended October 31, 2018 and 2017 . Three Months Ended Nine Months Ended 10/31/2018 10/31/2017 10/31/2018 10/31/2017 (In thousands) Beginning balance $ 925 $ 1,000 $ 925 $ 1,000 Provision 77 173 219 355 Costs incurred (77 ) (173 ) (219 ) (355 ) Ending balance $ 925 $ 1,000 $ 925 $ 1,000

Contingencies

Contingencies	9 Months Ended
	Oct. 31, 2018
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	9 Months Ended
	Oct. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On December 11, 2018, the Company's Board of Directors authorized and approved a cash dividend program under which the Company will issue $0.015 per share of cash dividend, payable January 10, 2019 to shareholder of record as of December 27, 2018.

Inventories (Policies)

Inventories (Policies)	9 Months Ended
	Oct. 31, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are 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 net realizable 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 breakdown of the Company’s inventories as of October 31, 2018, January 31, 2018 and October 31, 2017 (in thousands): 10/31/2018 1/31/2018 10/31/2017 Finished goods $ 14,552 $ 13,054 $ 11,890 WIP 16,633 16,627 13,988 Raw materials 11,485 12,376 10,499 Inventories $ 42,670 $ 42,057 $ 36,377 Management continually monitors production costs, material costs and inventory levels to determine that interim inventories are fairly stated.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Oct. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory	The following table presents breakdown of the Company’s inventories as of October 31, 2018, January 31, 2018 and October 31, 2017 (in thousands): 10/31/2018 1/31/2018 10/31/2017 Finished goods $ 14,552 $ 13,054 $ 11,890 WIP 16,633 16,627 13,988 Raw materials 11,485 12,376 10,499 Inventories $ 42,670 $ 42,057 $ 36,377

Debt (Tables)

Debt (Tables)	9 Months Ended
	Oct. 31, 2018
Debt Disclosure [Abstract]
Outstanding balances of long-term debt	Outstanding balances for the Company’s long-term debt were as follows (in thousands): 10/31/2018 1/31/2018 10/31/2017 Revolving credit line $ 13,245 $ 10,059 $ 8,814 Other 6,967 6,622 5,774 Total debt 20,212 16,681 14,588 Less current portion 6,232 4,681 3,278 Non-current portion $ 13,980 $ 12,000 $ 11,310

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	9 Months Ended
	Oct. 31, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended Nine Months Ended 10/31/2018 10/31/2017 10/31/2018 10/31/2017 (In thousands, except per share data) Net income $ 2,932 $ 2,524 $ 4,835 $ 5,341 Weighted average shares of common stock outstanding 15,486 15,317 15,399 15,220 Net effect of dilutive shares - based on the treasury stock method using average market price 96 166 92 104 Totals 15,582 15,483 15,491 15,324 Net income per share - basic $ 0.19 $ 0.16 $ 0.31 $ 0.35 Net income per share - diluted $ 0.19 $ 0.16 $ 0.31 $ 0.35

Retirement Plans (Tables)

Retirement Plans (Tables)	9 Months Ended
	Oct. 31, 2018
Retirement Benefits [Abstract]
Schedule of Defined Benefit Plans Disclosures	The net periodic pension cost (income) for the Pension Plan and the VIP Plan for the three months and nine months ended October 31, 2018 and 2017 were as follows (in thousands): Three Months Ended Pension Plan VIP Plan 10/31/2018 10/31/2017 10/31/2018 10/31/2017 Service cost — — — — Interest cost 281 304 89 89 Expected return on plan assets (348 ) (342 ) — — Plan settlement 22 — — — Amortization of prior service cost — — — — Recognized net actuarial (gain) loss 171 179 82 60 Benefit cost $ 126 $ 141 $ 171 $ 149 Nine Months Ended Pension Plan VIP Plan 10/31/2018 10/31/2017 10/31/2018 10/31/2017 Service cost $ — — — — Interest cost 813 912 267 267 Expected return on plan assets (1,162 ) (1,026 ) — — Plan settlement 341 — — — Amortization of prior service cost — — — — Recognized net actuarial (gain) loss 351 537 246 180 Benefit cost $ 343 $ 423 $ 513 $ 447

Warranty Accrual (Tables)

Warranty Accrual (Tables)	9 Months Ended
	Oct. 31, 2018
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	The following is a summary of the Company’s warranty-claim activity for the three months and nine months ended October 31, 2018 and 2017 . Three Months Ended Nine Months Ended 10/31/2018 10/31/2017 10/31/2018 10/31/2017 (In thousands) Beginning balance $ 925 $ 1,000 $ 925 $ 1,000 Provision 77 173 219 355 Costs incurred (77 ) (173 ) (219 ) (355 ) Ending balance $ 925 $ 1,000 $ 925 $ 1,000

Seasonality (Details)

Seasonality (Details)	9 Months Ended
	Oct. 31, 2018
Sales [Member]
Seasonality (Textual) [Abstract]
The market for educational furniture is marked by extreme seasonality	50.00%

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018	Oct. 31, 2017
Inventory Disclosure [Abstract]
Finished goods	$ 14,552	$ 13,054	$ 11,890
WIP	16,633	16,627	13,988
Raw materials	11,485	12,376	10,499
Inventories	$ 42,670	$ 42,057	$ 36,377

Inventories Narrative (Details)

Inventories Narrative (Details) - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018	Oct. 31, 2017
Inventory Disclosure [Abstract]
Finished goods	$ 14,552	$ 13,054	$ 11,890
WIP	16,633	16,627	13,988
Raw materials	$ 11,485	$ 12,376	$ 10,499

Debt (Long-term Debt) (Details)

Debt (Long-term Debt) (Details) - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018	Oct. 31, 2017
Debt Instrument [Line Items]
Long-term debt	$ 20,212	$ 16,681	$ 14,588
Less current portion	6,232	4,681	3,278
Non-current portion	13,980	12,000	11,310
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt	13,245	10,059	8,814
Other Debt [Member]
Debt Instrument [Line Items]
Long-term debt	$ 6,967	$ 6,622	$ 5,774

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	Mar. 19, 2018	Apr. 04, 2016	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Dec. 22, 2011
Line of Credit Facility [Line Items]
Dividends	$ 2,000,000
Debt instrument, covenant, minimum EBITDA				$ 6,402,000	$ (3,767,000)
Maximum borrowing capacity	$ 60,000,000					$ 50,000,000
Covenant, minimum fixed charge coverage ratio			1.10
Non-refundable extension fee			$ 250,000
Maximum amount outstanding during period			$ 60,000,000
Increase accrued interest percentage			2.00%
Interest rate at period end			6.25%
Provision to reduce borrowings under the line		$ 8,000,000
Provision to reduce borrowings under the line, period		30 days
Judicial actions against excess line of credit facility			$ 250,000
Accounts Receivable [Member]
Line of Credit Facility [Line Items]
Borrowing base limitation			85.00%
Inventory [Member]
Line of Credit Facility [Line Items]
Borrowing base limitation			60.00%
Maximum [Member]
Line of Credit Facility [Line Items]
Current borrowing capacity			$ 14,000,000
Maximum [Member] | Eurodollar [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of			2.50%
Maximum [Member] | Alternate Base Rate Loans [Member] | London Interbank Offered Rate LIBOR [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of			1.50%
Maximum [Member] | Accounts Receivable [Member]
Line of Credit Facility [Line Items]
Borrowing base limitation			85.00%
Minimum [Member]
Line of Credit Facility [Line Items]
Current borrowing capacity			$ 8,000,000
Minimum [Member] | Eurodollar [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of			1.50%
Minimum [Member] | Alternate Base Rate Loans [Member] | London Interbank Offered Rate LIBOR [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of			0.50%
Revolving Credit Facility [Member] | PNC [Member]
Line of Credit Facility [Line Items]
Remaining borrowing capacity			$ 9,930,000
Revolving Credit Facility [Member] | Amendment No. 7 To The Credit Agreement [Member] | PNC [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity			3,000,000
Capacity available for equipment financing			$ 2,500,000

Income Taxes (Details)

Income Taxes (Details)	Dec. 22, 2017USD ($)
Income Tax Disclosure [Abstract]
Change in tax rate, income tax expense (benefit)	$ 4,438,000

Net Income (Loss) per Share (De

Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Earnings Per Share [Abstract]
Net income (loss)	$ 2,932	$ 2,524	$ 4,835	$ 5,341
Weighted average shares outstanding (shares)	15,486	15,317	15,399	15,220
Net effect of dilutive share-based on the treasury stock method using average market price (shares)	96	166	92	104
Totals (shares)	15,582	15,483	15,491	15,324
Net income (loss) per share - basic (usd per share)	$ 0.19	$ 0.16	$ 0.31	$ 0.35
Net income (loss) per share - diluted (usd per share)	$ 0.19	$ 0.16	$ 0.31	$ 0.35

Stock-Based Compensation Stock-

Stock-Based Compensation Stock-Based Compensation (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Cost of Goods Sold [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 60,000	$ 59,000	$ 178,000	$ 136,000
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 175,000	$ 157,000	$ 495,000	$ 466,000
Restricted Stock Units (RSUs) [Member] | 2011 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant of stock option or awards (shares)	2,000,000		2,000,000
Granted in the period (shares)			55,555
Stock available for future issuance (shares)	268,277		268,277
Unrecognized compensation expense			$ 1,828,000
Terms of vesting			3 years
Restricted Stock Units (RSUs) [Member] | 2011 Plan [Member] | According to their terms [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested in period (shares)			226,804
Forfeited in period (shares)			20,000

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Oct. 31, 2018	Oct. 31, 2018
Equity [Abstract]
Company restriction from issuing dividends or making payments with respect to the Company's Capital Stock to it's annual limit		$ 2
Dividends declared (usd per share)	$ 0.015

Retirement Plans (Narrative) (D

Retirement Plans (Narrative) (Details) - USD ($)	Dec. 31, 2003	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax		$ (1,376,000)	$ (148,000)	$ (27,000)	$ (444,000)
United States [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Maximum annual contributions per employee, percent				75.00%
Number of common shares held		646,984	556,633	646,984	556,633
Contributions by employer				$ 553,000
United States [Member] | Minimum [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Annual contributions per employee, percent				1.00%
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
Plan settlement		$ 0	$ 0	$ 0	$ 0
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Plan settlement		$ 22,000	$ 0	$ 341,000	$ 0

Retirement Plans (Periodic Pens

Retirement Plans (Periodic Pension Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Pension Plan [Member]
Components of Net Cost
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	281	304	813	912
Expected return on plan assets	(348)	(342)	(1,162)	(1,026)
Plan settlement	22	0	341	0
Amortization of prior service cost	0	0	0	0
Recognized net actuarial (gain) loss	171	179	351	537
Benefit cost	126	141	343	423
VIP Retirement Plan [Member]
Components of Net Cost
Service cost	0	0	0	0
Interest cost	89	89	267	267
Expected return on plan assets	0	0	0	0
Plan settlement	0	0	0	0
Amortization of prior service cost	0	0	0	0
Recognized net actuarial (gain) loss	82	60	246	180
Benefit cost	$ 171	$ 149	$ 513	$ 447

Warranty (Details)

Warranty (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Warranty claim activity
Beginning balance	$ 925	$ 1,000	$ 925	$ 1,000
Provision	77	173	219	355
Costs incurred	(77)	(173)	(219)	(355)
Ending balance	$ 925	$ 1,000	$ 925	$ 1,000
Maximum [Member]
Warranty [Line Items]
Product warranty period			10 years

Contingencies (Details)

Contingencies (Details) - Maximum [Member]	Oct. 31, 2018USD ($)
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 Events (Details)

Subsequent Events (Details) - $ / shares	3 Months Ended
	Jan. 31, 2019	Oct. 31, 2018
Subsequent Event [Line Items]
Cash dividends declared (usd per share)		$ 0.015
Subsequent Event [Member]
Subsequent Event [Line Items]
Cash dividends declared (usd per share)	$ 0.015