Virco Mfg. (VIRC) 10-Q 12 Jun 20 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 30, 2020	Jun. 08, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	VIRCO MFG CORPORATION
Entity Central Index Key	0000751365
Document Type	10-Q
Document Period End Date	Apr. 30, 2020
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--01-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		15,713,549
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Current Reporting Status	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020	Apr. 30, 2019
Current assets:
Cash	$ 327	$ 1,150	$ 553
Trade accounts receivables, net	7,564	11,762	12,375
Other receivables	57	57	64
Income tax receivable	469	298	263
Inventories	58,190	43,329	63,511
Prepaid expenses and other current assets	2,413	1,746	2,532
Total current assets	69,020	58,342	79,298
Property, plant and equipment:
Land	3,731	3,731	3,731
Land improvements	734	717	688
Buildings and building improvements	51,159	51,200	51,176
Machinery and equipment	111,250	110,610	109,087
Leasehold improvements	1,072	990	830
Total property, plant and equipment	167,946	167,248	165,512
Less accumulated depreciation and amortization	128,520	127,351	124,159
Net property, plant and equipment	39,426	39,897	41,353
Operating lease right-of-use assets	20,487	21,325	23,295
Deferred tax assets, net	14,481	11,230	11,086
Other assets, net	8,078	8,198	8,276
Total assets	151,492	138,992	163,308
Current liabilities:
Accounts payable	16,656	10,587	16,354
Accrued compensation and employee benefits	5,979	6,392	4,631
Current portion of long-term debt	10,618	878	24,226
Current portion operating lease liability	4,527	3,654	2,939
Other accrued liabilities	4,606	3,607	5,552
Total current liabilities	42,386	25,118	53,702
Non-current liabilities:
Accrued self-insurance retention	1,802	1,410	1,773
Accrued pension expenses	21,365	21,310	14,218
Income tax payable	74	70	55
Long-term debt, less current portion	15,630	15,818	16,508
Operating lease liability, less current portion	18,854	19,787	22,221
Other long-term liabilities	662	661	555
Total non-current liabilities	58,387	59,056	55,330
Commitments and contingencies (Notes 6, 7 and 13)
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 15,713,549 shares at 4/30/2020 and 1/31/2020 and 15,541,956 at 4/30/2019	157	157	155
Additional paid-in capital	119,036	118,782	118,292
Accumulated deficit	(54,508)	(49,810)	(55,259)
Accumulated other comprehensive loss	(13,966)	(14,311)	(8,912)
Total stockholders’ equity	50,719	54,818	54,276
Total liabilities and stockholders’ equity	$ 151,492	$ 138,992	$ 163,308

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 30, 2020	Jan. 31, 2020	Apr. 30, 2019
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)	15,713,549	15,713,549	15,541,956
Common stock, shares outstanding (shares)	15,713,549	15,713,549	15,541,956

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income Unaudited - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Income Statement [Abstract]
Net sales	$ 17,599	$ 26,893
Costs of goods sold	12,695	17,809
Gross profit	4,904	9,084
Selling, general and administrative expenses	11,931	12,681
Gain on sale of property, plant & equipment	0	0
Operating loss	(7,027)	(3,597)
Pension expense	542	188
Interest expense	404	700
Income (loss) before income taxes	(7,973)	(4,485)
Income tax (benefit) expense	(3,275)	(1,418)
Net income (loss)	$ (4,698)	$ (3,067)
Net income (loss) per common share:
Basic (usd per share)	$ (0.30)	$ (0.20)
Diluted (usd per share)	$ (0.30)	$ (0.20)
Weighted average shares outstanding:
Basic (shares)	15,654	15,486
Diluted (shares)	15,654	15,486

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) Unaudited - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (4,698)	$ (3,067)
Other comprehensive income:
Pension adjustments (net of tax expense of $120 and $46 at April 30, 2020 and 2019, respectively)	345	130
Comprehensive income (loss)	$ (4,353)	$ (2,937)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) Unaudited (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Statement of Comprehensive Income [Abstract]
Pension adjustments, tax	$ 120	$ 46

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Changes in Equity and Accumulated Other Comprehensive Income (Loss) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (shares) at Jan. 31, 2019		15,541,956
Beginning balance at Jan. 31, 2019	$ 57,027	$ 155	$ 118,106	$ (52,192)	$ (9,042)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(3,067)			(3,067)
Cash dividends	0			0
Pension adjustments, net of tax effect	130				130
Shares vested and others (shares)		0
Shares vested and others	0	$ 0	0
Stock compensation expense	$ 186		186
Ending balance (shares) at Apr. 30, 2019	15,541,956	15,541,956
Ending balance at Apr. 30, 2019	$ 54,276	$ 155	118,292	(55,259)	(8,912)
Beginning balance (shares) at Jan. 31, 2020	15,713,549	15,713,549
Beginning balance at Jan. 31, 2020	$ 54,818	$ 157	118,782	(49,810)	(14,311)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(4,698)			(4,698)
Cash dividends	0			0
Pension adjustments, net of tax effect	345				345
Shares vested and others (shares)		0
Shares vested and others	0	$ 0	0
Stock compensation expense	$ 254		254
Ending balance (shares) at Apr. 30, 2020	15,713,549	15,713,549
Ending balance at Apr. 30, 2020	$ 50,719	$ 157	$ 119,036	$ (54,508)	$ (13,966)

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Changes in Equity and Accumulated Other Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Statement of Stockholders' Equity [Abstract]
Pension adjustments, tax	$ 120	$ 46

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows Unaudited - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Operating activities
Net income (loss)	$ (4,698)	$ (3,067)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,393	1,452
Non-cash lease expense	778	89
Provision for doubtful accounts	15	15
Loss (gain) on sale of property, plant and equipment	0	0
Deferred income taxes	(3,251)	(1,488)
Stock-based compensation	254	186
Defined pension plan settlement	0	0
Amortization of net actuarial loss for pension plans	345	130
Changes in operating assets and liabilities:
Trade accounts receivable	4,183	863
Other receivables	0	(24)
Inventories	(14,861)	(16,222)
Income taxes	(167)	(77)
Prepaid expenses and other current assets	(546)	(709)
Accounts payable and accrued liabilities	6,668	566
Net cash used in operating activities	(9,887)	(18,286)
Investing activities:
Capital expenditures	(488)	(1,219)
Proceeds from sale of property, plant and equipment	0	0
Net cash used in investing activities	(488)	(1,219)
Financing activities:
Borrowing from long-term debt	11,413	19,564
Repayment of long-term debt	(1,861)	(244)
Payment on deferred financing costs	0	0
Tax withholding payments on share-based compensation	0	0
Cash dividends paid	0	0
Net cash provided by financing activities	9,552	19,320
Net decrease in cash	(823)	(185)
Cash at beginning of year	1,150	738
Cash at end of year	$ 327	$ 553

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 30, 2020
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, 2020 (“Form 10-K”). In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three months ended April 30, 2020 , are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2021 . The balance sheet at January 31, 2020 , 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 and Management Use

Seasonality and Management Use of Estimates	3 Months Ended
	Apr. 30, 2020
Seasonality [Abstract]
Seasonality and Management Use of Estimates	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. Significant estimates made by management include, but are not limited to, valuation of inventory; deferred tax assets and liabilities; useful lives of property, plant and equipment; liabilities under pension, warranty, self-insurance and environmental claims; and the accounts receivable allowance for doubtful accounts. Due to the inherent uncertainty involved in making assumptions and estimates, events and changes in circumstances arising after April 30, 2020, including those resulting from the impacts of the COVID-19 pandemic, may result in actual outcomes that differ from those contemplated by our assumptions and estimates.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Apr. 30, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Recently Adopted Accounting Updates In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes . This update simplifies various aspects related to accounting for income taxes, removes certain exceptions to the general principles in ASC 740, and clarifies and amends existing guidance to improve consistent application. The Company adopted this ASU as of February 1, 2020 and the adoption of this standard did not have a material effect on our condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement ( Topic 820 ) which modifies the disclosure requirements of fair value measurements in Topic 820, Fair Value Measurement . For public companies the ASU removes disclosure requirements for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and the valuation process for Level 3 fair value measurements. The ASU modifies the disclosure requirements for investments in certain entities that calculate net asset value and clarifies that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. The ASU adds the disclosure requirement for changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The Company adopted this ASU as of February 1, 2020 and the adoption of this standard did not have a material effect on our condensed consolidated financial statements. Recently Issued Accounting Updates In August 2018, the FASB issued Accounting Standards Update No. 2018-14 (ASU 2018-14 ), Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20) , which amends the current disclosure requirements regarding defined benefit pensions and other post retirement plans , and allows for the removal of certain disclosures, while adding certain new disclosure requirements. This standard is effective for fiscal years beginning after December 15, 2020 and allows for early adoption. The Company is currently evaluating the effect the standard will have on the consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 replaces the incurred loss impairment methodology for measuring and recognizing credit losses with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The adoption date, as modified by the recently issued ASU 2019-10 discussed below, will be for the fiscal year ending after December 15, 2022 and interim periods therein. The Company is currently evaluating the effect the standard will have on the consolidated financial statements and related disclosures. In November 2019, the FASB issued ASU 2019-10, Financial Instruments-Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates . ASU 2019-10 moves the effective date for certain previously issued amendments to later dates, depending on the filing status of the respective entity. Specifically, due to the amendment and the Company’s status as a smaller reporting company, the new effective dates for relevant previously issued amendments not yet adopted by the Company relate to ASU 2016-13 as described above. Other recently issued accounting updates are not expected to have a material impact on the Company’s consolidated financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Apr. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition 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. 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 direct-to-customers and resellers. 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.

Inventories

Inventories	3 Months Ended
	Apr. 30, 2020
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 valuation allowances for estimated slow-moving and obsolete inventory to reflect the difference between the cost of inventory and the estimated net realizable value. Valuation 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 valuation 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 a breakdown of the Company’s inventories as of April 30, 2020, January 31, 2020 and April 30, 2019: 4/30/2020 1/31/2020 4/30/2019 (in thousands) Finished goods $ 27,348 $ 15,401 $ 26,546 WIP 19,159 15,957 24,009 Raw materials 11,683 11,971 12,956 Total inventories $ 58,190 $ 43,329 $ 63,511

Leases

Leases	3 Months Ended
	Apr. 30, 2020
Leases [Abstract]
Leases	Leases The Company has operating leases on real property, equipment, and automobiles that expire at various dates. The Company determines if an arrangement is a lease at inception and assesses classification of the lease at commencement. All of the Company’s leases are classified as operating leases, as a lessee. The Company uses the implicit rate when readily determinable, or the incremental borrowing rate. Our incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments using company specific credit spreads. The Company’s lease terms include options to extend or terminate the lease only when it is reasonably certain that we will exercise that option. Lease expense for our operating leases is recognized on a straight-line basis over the lease term. The Company has an operating lease for its corporate office, manufacturing and distribution facility located in Torrance, CA, currently with a remaining lease term through April 30, 2025. The Company leases equipment under a 5 -year operating lease arrangement. The Company has the option of buying the assets at the end of the lease period at a price that does not result in the Company being reasonably certain of exercising the option. In addition, the Company leases trucks, automobiles, and forklifts under operating leases that include certain fleet management and maintenance services. Certain of the leases contain renewal or purchase options and require payment for property taxes and insurance. Tenant improvements are capitalized and depreciated over the remaining life of the applicable lease, and related tenant allowances are recorded as a reduction to the ROU asset. In accordance with ASC 842, quantitative information regarding our leases is as follows: Three-Months Ended 4/30/2020 4/30/2019 (in thousands) Operating lease cost $ 1,440 $ 1,380 Short-term lease cost 36 54 Short-term sublease income (10 ) (10 ) Variable lease cost (1) 455 448 Total lease cost $ 1,921 $ 1,872 Other operating leases information: Cash paid for amounts included in the measurement of lease liabilities $ 662,000 $ 1,291,000 Right-of-use assets obtained in exchange for new lease liabilities $ 270,000 394,000 Weighted-average remaining lease term (years) 4.7 5.7 Weighted-average discount rate 6.4 % 6.4 % (1) Subsequent to the issuance of the Company’s condensed consolidated financial statements as of April 30, 2019, management identified an immaterial correction related to the disclosure of certain variable lease payments. Variable lease expense for the three-months ended April 30, 2019 did not previously include $448,000 of variable lease payments for property taxes, insurance and common area maintenance related to triple net leases. Management corrected the disclosure related to variable lease expense in the table above for the three-months ended April 30, 2019 and, except for this change, the correction had no impact upon the Company’s condensed consolidated financial statements Minimum future lease payments for operating leases in effect as of April 30, 2020, are as follows: Operating Lease (in thousands) Remaining of 2021 $ 4,414 2022 5,708 2023 5,275 2024 5,214 2025 5,370 Thereafter 1,350 Remaining balance of lease payments $ 27,331 Short-term lease liabilities $ 4,527 Long-term lease liabilities 18,854 Total lease liabilities $ 23,381 Difference between undiscounted cash flows and discounted cash flows $ 3,950

Debt

Debt	3 Months Ended
	Apr. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt Outstanding balances for the Company’s long-term debt were as follows: 4/30/2020 1/31/2020 4/30/2019 (in thousands) Revolving credit line $ 19,740 $ 9,969 $ 33,354 Other 6,508 6,727 7,380 Total debt $ 26,248 $ 16,696 $ 40,734 Less current portion 10,618 878 24,226 Non-current portion $ 15,630 $ 15,818 $ 16,508 The Company has 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 twenty times since it’s origination in 2011 through fiscal 2019, which, among other things, extended the maturity date of the Credit Agreement for three years until March 19, 2023. The Credit Agreement 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 $15,000,000 from January 1 through July of each year, minus undrawn amounts of letters of credit and reserves. The Credit Agreement is secured by substantially all of the Company's, as defined, personal property and certain of the Company's 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 Credit Agreement is subject to certain prepayment penalties upon earlier termination of the Credit Agreement. 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 Credit Agreement 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 0.75% to 1.25% , and the applicable margin for Eurodollar Currency Rate loans is a percentage within a range of 1.75% to 2.25% , in each case based on the EBITDA of the Borrower's 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 April 30, 2020 was 4.50% . In March 2019, the Company entered into Amendment No. 19 which, among other things, (i) increased the Maximum Revolving Advance Amount to $65,000,000 with seasonal adjustments to the credit limit and subject to borrowing base limitations, (ii) increased seasonal advance to $15,000,000 from January to July of each year, (iii) increased equipment loan to $2,000,000 , (iv) reduced borrowings under the line to less than or equal to $10,000,000 for a period of 30 consecutive days during the fourth quarter of each fiscal year. In April 2019, the Company entered into Amendment No. 20 which, among other things, waived the covenant violation for the fourth quarter of fiscal 2019, amended the minimum EBITDA covenant and the fixed charge coverage ratio for fiscal 2020, and eliminated the Company’s ability to pay dividends or repurchase stock during fiscal 2020. For fiscal year beginning February 1st, 2020, the covenant for the fixed charge coverage ratio is 1.10 to 1.00 for each consecutive four fiscal quarter period of Borrowers ending thereafter. The Company was in compliance with its financial covenants as of April 30, 2020. To date the impact of COVID-19 on liquidity has been to moderate the seasonal increase in accounts receivable and production of inventory for summer delivery. Both the increase in accounts receivable and inventory are traditionally financed through the Company’s line of credit with PNC Bank. Reductions in receivables and inventory were substantially offset by a reduction in borrowing under the line with PNC Bank. 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 15 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 Credit Agreement upon receipt by the Borrowers. Due to this automatic liquidating nature of the Credit Agreement, 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. Approximately $12,343,000 was available for borrowing as of April 30, 2020. Management believes that the carrying value of debt approximated fair value at April 30, 2020 and 2019, as all of the long-term debt bears interest at variable rates based on prevailing market conditions.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 30, 2020
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 of $1,075,000 , $1,183,000 and $1,907,000 as of April 30, 2020, January 31, 2020 and April 30, 2019 to reduce against certain state deferred tax assets that the Company does not believe it is more-likely-than-not to realize. On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act modified the limitation for business interest expense deduction and the new limitation has increased from 30 to 50 percent of adjusted taxable income. Historically deferred taxes related to interest expense limitation were fully offset by a valuation allowance. The Company performed an analysis of the impact of the CARES Act and calculated a tax benefit of approximately $200,000 which was driven by the release of the valuation allowance related to the business interest limitation. The January 31, 2016 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	3 Months Ended
	Apr. 30, 2020
Earnings Per Share [Abstract]
Net Income (Loss) per Share	Net loss per Share Three Months Ended 4/30/2020 4/30/2019 (In thousands, except per share data) Net loss $ (4,698 ) $ (3,067 ) Weighted average shares of common stock outstanding 15,654 15,486 Net effect of dilutive shares - based on the treasury stock method using average market price — — Totals 15,654 15,486 Net loss per share - basic $ (0.30 ) $ (0.20 ) Net loss per share - diluted (a) $ (0.30 ) $ (0.20 ) (a) All exercisable and non-exercisable restricted stock awards and/or units were not included in the computation of diluted net loss per share at April 30, 2020 and 2019, because their inclusion would have been anti-dilutive. The number of stock awards and/or units outstanding, which met this anti-dilutive criterion for the three months ended April 30, 2020 and 2019, was 75,000 and 180,000 , respectively.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Incentive Plan The Company's two stock plans are the 2019 Employee Stock Incentive Plan (the “2019 Plan”) and the 2011 Employee Incentive Stock Plan (the “2011 Plan”). Under the 2019 Plan, the Company may grant an aggregate of 1,000,000 shares to its employees in the form of restricted stock units and non-employee directors in the form of restricted stock awards. Restricted stock units and awards granted under the 2019 Plan are expensed ratably over the vesting period of the awards. The Company determines the fair value of its restricted stock units or awards and related compensation expense as the difference between the market value of the units or awards on the date of grant less the exercise price of the units or awards granted. During the three-month periods ended April 30, 2020, the Company granted 0 awards, vested 0 shares according to their terms and forfeited 0 shares under the 2019 Plan. As of April 30, 2020, there were approximately 772,000 shares available for future issuance under the 2019 Plan. Under the 2011 Plan, the Company may grant an aggregate of 2,000,000 shares to its employees in the form of restricted stock units and non-employee directors in the form of restricted stock awards. Restricted stock units and awards granted under the 2011 Plan are expensed ratably over the vesting period of the awards. The Company determines the fair value of its restricted stock units or awards and related compensation expense as the difference between the market value of the units or awards on the date of grant less the exercise price of the units or awards granted. During the three-month periods ended April 30, 2020, the Company granted 0 restricted awards to non-employee directors and 0 units to its employees; vested 0 stock awards and 0 units according to their terms and forfeited 0 stock units under the 2011 Plan. As of April 30, 2020, there were approximately 32,892 shares available for future issuance under the 2011 Plan. During the three months ended April 30, 2020, stock-based compensation expense related to restricted stock units and awards recognized in cost of goods sold and selling, general and administrative expenses was $63,000 and 191,000 , respectively. During the three months ended April 30, 2019, stock-based compensation expense related to restricted stock units and/or awards recognized in cost of goods sold and selling, general and administrative expenses was $59,000 and 127,000 , respectively. As of April 30, 2020, there was $2,435,000 of unrecognized compensation expense related to unvested restricted stock units and/or awards, which is expected to be recognized over a weighted average period of approximately 2 years .

Retirement Plans

Retirement Plans	3 Months Ended
	Apr. 30, 2020
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”). 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”). As more fully described in the Annual Report on Form 10-K for the year ended January 31, 2019, benefit accruals under this plan were frozen since December 31, 2003. There is no service cost incurred under this plan. The net periodic pension cost for the Pension Plan and the VIP Plan for the three months ended April 30, 2020 and 2019 were as follows: Combined Employee Retirement Plans Three Months Ended 4/30/2020 4/30/2019 (in thousands) Service cost $ — $ — Interest cost 301 355 Expected return on plan assets (224 ) (343 ) Plan settlement — — Amortization of prior service cost — — Recognized net actuarial loss 465 176 Benefit cost $ 542 $ 188 401(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. The plan includes Virco stock as one of the investment options. At April 30, 2020 and 2019 , the plan held 763,586 shares and 673,964 shares of Virco stock, respectively. For the three months ended April 30, 2020 and 2019, the compensation costs incurred for employer match was $210,000 and $187,000 , respectively.

Warranty Accrual

Warranty Accrual	3 Months Ended
	Apr. 30, 2020
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 after January 1, 2017 was modified 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 ended April 30, 2020 and 2019 : Three Months Ended 4/30/2020 4/30/2019 (in thousands) Beginning balance $ 800 $ 700 Provision 60 71 Costs incurred (60 ) (71 ) Ending balance $ 800 $ 700

Contingencies

Contingencies	3 Months Ended
	Apr. 30, 2020
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.

Delivery Costs

Delivery Costs	3 Months Ended
	Apr. 30, 2020
Other Income and Expenses [Abstract]
Delivery Costs	Delivery Costs For the quarter ended April 30, 2020 and 2019, shipping and classroom delivery costs of approximately $2,078,000 and $2,761,000 , respectively, were included in selling, general and administrative expenses in the accompanying consolidated statements of operations.

COVID-19

COVID-19	3 Months Ended
	Apr. 30, 2020
Subsequent Events [Abstract]
COVID-19	COVID-19 On March 11, 2020, the World Health Organization declared the current coronavirus (COVID-19) outbreak to be a global pandemic. In response to this declaration and the rapid spread of COVID-19 within the United States, federal, state and local governments throughout the country have imposed varying degrees of restriction on social and commercial activity to promote social distancing in an effort to slow the spread of the illness. The Company has been operating its manufacturing and distribution facilities on a voluntary basis to give employees the flexibility to remain at home with children who are out of school or for other personal reasons as they deem necessary. Office employees and others who can work from home continue to do so. Appropriate measures are being taken to protect the health of employees performing essential on-site operations. The Company’s Conway, Arkansas facilities, which represent approximately two thirds of the Company’s production and distribution capacity, has been fully operational for this period of time. In accordance with State of California and local orders that include guidance on the definition and responsibilities of “essential businesses,” the Company has been operating its Torrance facility. During May, the Company closed its Torrance facility for several days before and after Memorial Day to perform comprehensive cleaning of production and office areas. Management estimates that the Torrance facility is currently staffed at approximately 50% of its normal level. The impacts of COVID-19 are expected to continue to be a challenge for the foreseeable future. The Company believes the economy will be adversely impacted for an indeterminate period, including the demand for our products. Consequently, the Company believes that it may report lower sales and earnings than would otherwise have been expected for the remainder of fiscal year 2021. The extent of the impact will depend on numerous factors that are unknown, uncertain and cannot be predicted.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Apr. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	The following table presents a breakdown of the Company’s inventories as of April 30, 2020, January 31, 2020 and April 30, 2019: 4/30/2020 1/31/2020 4/30/2019 (in thousands) Finished goods $ 27,348 $ 15,401 $ 26,546 WIP 19,159 15,957 24,009 Raw materials 11,683 11,971 12,956 Total inventories $ 58,190 $ 43,329 $ 63,511

Leases (Tables)

Leases (Tables)	3 Months Ended
	Apr. 30, 2020
Leases [Abstract]
Quantitative Information of Leases	In accordance with ASC 842, quantitative information regarding our leases is as follows: Three-Months Ended 4/30/2020 4/30/2019 (in thousands) Operating lease cost $ 1,440 $ 1,380 Short-term lease cost 36 54 Short-term sublease income (10 ) (10 ) Variable lease cost (1) 455 448 Total lease cost $ 1,921 $ 1,872 Other operating leases information: Cash paid for amounts included in the measurement of lease liabilities $ 662,000 $ 1,291,000 Right-of-use assets obtained in exchange for new lease liabilities $ 270,000 394,000 Weighted-average remaining lease term (years) 4.7 5.7 Weighted-average discount rate 6.4 % 6.4 % (1) Subsequent to the issuance of the Company’s condensed consolidated financial statements as of April 30, 2019, management identified an immaterial correction related to the disclosure of certain variable lease payments. Variable lease expense for the three-months ended April 30, 2019 did not previously include $448,000
Schedule of Minimum Future Lease Payments	Minimum future lease payments for operating leases in effect as of April 30, 2020, are as follows: Operating Lease (in thousands) Remaining of 2021 $ 4,414 2022 5,708 2023 5,275 2024 5,214 2025 5,370 Thereafter 1,350 Remaining balance of lease payments $ 27,331 Short-term lease liabilities $ 4,527 Long-term lease liabilities 18,854 Total lease liabilities $ 23,381 Difference between undiscounted cash flows and discounted cash flows $ 3,950

Debt (Tables)

Debt (Tables)	3 Months Ended
	Apr. 30, 2020
Debt Disclosure [Abstract]
Outstanding balances of long-term debt	Outstanding balances for the Company’s long-term debt were as follows: 4/30/2020 1/31/2020 4/30/2019 (in thousands) Revolving credit line $ 19,740 $ 9,969 $ 33,354 Other 6,508 6,727 7,380 Total debt $ 26,248 $ 16,696 $ 40,734 Less current portion 10,618 878 24,226 Non-current portion $ 15,630 $ 15,818 $ 16,508

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	3 Months Ended
	Apr. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended 4/30/2020 4/30/2019 (In thousands, except per share data) Net loss $ (4,698 ) $ (3,067 ) Weighted average shares of common stock outstanding 15,654 15,486 Net effect of dilutive shares - based on the treasury stock method using average market price — — Totals 15,654 15,486 Net loss per share - basic $ (0.30 ) $ (0.20 ) Net loss per share - diluted (a) $ (0.30 ) $ (0.20 ) (a) All exercisable and non-exercisable restricted stock awards and/or units were not included in the computation of diluted net loss per share at April 30, 2020 and 2019, because their inclusion would have been anti-dilutive. The number of stock awards and/or units outstanding, which met this anti-dilutive criterion for the three months ended April 30, 2020 and 2019, was 75,000 and 180,000 , respectively.

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Apr. 30, 2020
Retirement Benefits [Abstract]
Schedule of Defined Benefit Plans Disclosures	The net periodic pension cost for the Pension Plan and the VIP Plan for the three months ended April 30, 2020 and 2019 were as follows: Combined Employee Retirement Plans Three Months Ended 4/30/2020 4/30/2019 (in thousands) Service cost $ — $ — Interest cost 301 355 Expected return on plan assets (224 ) (343 ) Plan settlement — — Amortization of prior service cost — — Recognized net actuarial loss 465 176 Benefit cost $ 542 $ 188

Warranty Accrual (Tables)

Warranty Accrual (Tables)	3 Months Ended
	Apr. 30, 2020
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 ended April 30, 2020 and 2019 : Three Months Ended 4/30/2020 4/30/2019 (in thousands) Beginning balance $ 800 $ 700 Provision 60 71 Costs incurred (60 ) (71 ) Ending balance $ 800 $ 700

Seasonality (Details)

Seasonality (Details)	3 Months Ended
	Apr. 30, 2020
Sales [Member]
Seasonality (Textual) [Abstract]
The market for educational furniture is marked by extreme seasonality	50.00%

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020	Apr. 30, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 27,348	$ 15,401	$ 26,546
WIP	19,159	15,957	24,009
Raw materials	11,683	11,971	12,956
Total inventories	$ 58,190	$ 43,329	$ 63,511

Leases - Narrative (Details)

Leases - Narrative (Details)	Apr. 30, 2020
Manufacturing and Distribution Facility in Torrance, CA [Member]
Lessee, Lease, Description [Line Items]
Operating lease period (in years)	5 years

Leases - ASC 842 Quantitative I

Leases - ASC 842 Quantitative Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 1,440	$ 1,380
Short-term lease cost	36	54
Short-term sublease income	(10)	(10)
Variable lease cost	455	448
Total lease cost	1,921	1,872
Cash paid for amounts included in the measurement of lease liabilities	662	1,291
Right-of-use assets obtained in exchange for new lease liabilities	$ 270	$ 394
Weighted-average remaining lease term (years)	4 years 8 months 23 days	5 years 8 months 13 days
Weighted-average discount rate	6.40%	6.40%
Immaterial Correction to Variable Lease Cost [Member]
Lessee, Lease, Description [Line Items]
Variable lease cost		$ 448

Leases - ASC 842 Minimum Lease

Leases - ASC 842 Minimum Lease Payments (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020	Apr. 30, 2019
Leases [Abstract]
Remaining of 2021	$ 4,414
2022	5,708
2023	5,275
2024	5,214
2025	5,370
Thereafter	1,350
Remaining balance of lease payments	27,331
Short-term lease liabilities	4,527	$ 3,654	$ 2,939
Long-term lease liabilities	18,854	$ 19,787	$ 22,221
Total lease liabilities	23,381
Difference between undiscounted cash flows and discounted cash flows	$ 3,950

Debt (Long-term Debt) (Details)

Debt (Long-term Debt) (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020	Apr. 30, 2019
Debt Instrument [Line Items]
Long-term debt	$ 26,248	$ 16,696	$ 40,734
Less current portion	10,618	878	24,226
Non-current portion	15,630	15,818	16,508
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt	19,740	9,969	33,354
Other Debt [Member]
Debt Instrument [Line Items]
Long-term debt	$ 6,508	$ 6,727	$ 7,380

Debt (Narrative) (Details)

Debt (Narrative) (Details)	1 Months Ended	3 Months Ended
	Mar. 31, 2019USD ($)	Apr. 30, 2020USD ($)	Apr. 30, 2019
Line of Credit Facility [Line Items]
Line Of Credit Facility, Borrowing Capacity, Term		$ 15,000,000
Revolving credit facility bears interest increased		2.00%
Interest rate		4.50%
Judgments or judicial actions against the borrowers in excess		$ 250,000
Inventory [Member]
Line of Credit Facility [Line Items]
Revolving credit facility borrowing base limitation		60.00%
Inventories [Member]
Line of Credit Facility [Line Items]
Revolving credit facility borrowing base limitation		85.00%
Maximum [Member] | Accounts receivable [Member]
Line of Credit Facility [Line Items]
Revolving credit facility borrowing base limitation		85.00%
Amendment No. 20 To Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum fixed charge coverage ratio			1.10
PNC [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Remaining borrowing capacity		$ 12,343,000
PNC [Member] | Revolving Credit Facility [Member] | Amendment No. 19 to Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 65,000,000
PNC [Member] | Seasonal Advance [Member] | Amendment No. 19 to Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	15,000,000
PNC [Member] | Equipment Loan [Member] | Amendment No. 19 to Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	10,000,000
Line of credit facility, Equipment financing	$ 2,000,000
Line of credit facility, period for reduced borrowings during fourth quarter of each fiscal year (consecutive days)	30 days
Eurodollar [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of		1.75%
Eurodollar [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of		2.25%
Alternate Base Rate Loans [Member] | London Interbank Offered Rate LIBOR [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of		0.75%
Alternate Base Rate Loans [Member] | London Interbank Offered Rate LIBOR [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of		1.25%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	Mar. 27, 2020	Mar. 26, 2020	Apr. 30, 2020	Jan. 31, 2020	Apr. 30, 2019
Income Tax Disclosure [Abstract]
Valuation allowance			$ 1,075	$ 1,183	$ 1,907
Limitation for business interest expense deduction as a percentage of adjusted taxable income	50.00%	30.00%
Income tax benefit from the CARES Act	$ 200

Net Income (Loss) per Share (De

Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Earnings Per Share [Abstract]
Net income (loss)	$ (4,698)	$ (3,067)
Weighted average shares outstanding (shares)	15,654,000	15,486,000
Net effect of dilutive share-based on the treasury stock method using average market price (shares)	0	0
Totals (shares)	15,654,000	15,486,000
Net income (loss) per share - basic (usd per share)	$ (0.30)	$ (0.20)
Net income (loss) per share - diluted (usd per share)	$ (0.30)	$ (0.20)
Antidilutive stock options (shares)	75,000	180,000

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($)	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Cost of Goods Sold [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 63,000	$ 59,000
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	191,000	$ 127,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 2,435,000
Unrecognized compensation expense, weighted average period to be recognized	2 years
Restricted Stock Units (RSUs) [Member] | 2019 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards authorized (shares)	1,000,000
Granted in the period (shares)	0
Vested in period (shares)	0
Forfeited in period (shares)	0
Awards available for future issuance (shares)	772,000
Restricted Stock Units (RSUs) [Member] | 2011 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards authorized (shares)	2,000,000
Granted in the period (shares)	0
Vested in period (shares)	0
Forfeited in period (shares)	0
Awards available for future issuance (shares)	32,892
Director [Member] | Restricted Stock Awards [Member] | 2011 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted in the period (shares)	0
Vested in period (shares)	0

Retirement Plans (Narrative) (D

Retirement Plans (Narrative) (Details) - United States [Member] - USD ($)	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
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	763,586	673,964
Contributions by employer	$ 210,000	$ 187,000
Minimum [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Annual contributions per employee, percent	1.00%

Retirement Plans (Periodic Pens

Retirement Plans (Periodic Pension Cost) (Details) - Pension Plan [Member] - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Components of Net Cost
Service cost	$ 0	$ 0
Interest cost	301	355
Expected return on plan assets	(224)	(343)
Plan settlement	0	0
Amortization of prior service cost	0	0
Recognized net actuarial loss	465	176
Benefit cost	$ 542	$ 188

Warranty (Details)

Warranty (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Warranty claim activity
Beginning balance	$ 800	$ 700
Provision	60	71
Costs incurred	(60)	(71)
Ending balance	$ 800	$ 700
Maximum [Member]
Warranty [Line Items]
Product warranty period	10 years

Contingencies (Details)

Contingencies (Details) - Maximum [Member]	Apr. 30, 2020USD ($)
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

Delivery Costs (Details)

Delivery Costs (Details) - USD ($)	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Other Income and Expenses [Abstract]
Shipping and classroom delivery costs	$ 2,078,000	$ 2,761,000

COVID-19 (Details)

COVID-19 (Details)	Jun. 12, 2020
Subsequent Event [Member]
Subsequent Event [Line Items]
Current staffing level at Torrance facility (percent)	50.00%