Virco Mfg. (VIRC) 10-Q 11 Jun 21 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Apr. 30, 2021	Jun. 02, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2021
Document Transition Report	false
Entity File Number	1-8777
Entity Registrant Name	VIRCO MFG CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-1613718
Entity Address, Address Line One	2027 Harpers Way
Entity Address, City or Town	Torrance
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90501
City Area Code	310
Local Phone Number	533-0474
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	VIRC
Security Exchange Name	NASDAQ
Entity Central Index Key	0000751365
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,918,642
Current Fiscal Year End Date	--01-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2021	Jan. 31, 2021	Apr. 30, 2020
Current assets:
Cash	$ 556	$ 402	$ 327
Trade accounts receivables, net	14,334	9,759	7,564
Other receivables	39	26	57
Income tax receivable	85	199	469
Inventories	42,875	38,270	58,190
Prepaid expenses and other current assets	2,099	2,311	2,413
Total current assets	59,988	50,967	69,020
Property, plant and equipment:
Land	3,731	3,731	3,731
Land improvements	734	734	734
Buildings and building improvements	51,262	51,262	51,159
Machinery and equipment	111,779	112,098	111,250
Leasehold improvements	989	1,004	1,072
Total property, plant and equipment	168,495	168,829	167,946
Less accumulated depreciation and amortization	132,392	132,003	128,520
Net property, plant and equipment	36,103	36,826	39,426
Operating lease right-of-use assets	16,682	17,596	20,487
Deferred tax assets, net	12,879	11,716	14,481
Other assets, net	8,020	7,931	8,078
Total assets	133,672	125,036	151,492
Current liabilities:
Accounts payable	12,976	8,421	16,656
Accrued compensation and employee benefits	4,597	4,576	5,979
Current portion of long-term debt	2,990	887	10,618
Current portion operating lease liability	4,715	4,672	4,527
Other accrued liabilities	4,364	3,550	4,606
Total current liabilities	29,642	22,106	42,386
Non-current liabilities:
Accrued self-insurance retention	1,530	935	1,802
Accrued pension expenses	21,520	21,889	21,365
Income tax payable	71	65	74
Long-term debt, less current portion	14,795	9,553	15,630
Operating lease liability, less current portion	14,573	15,619	18,854
Other long-term liabilities	683	682	662
Total non-current liabilities	53,172	48,743	58,387
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 15,918,642 shares at 4/30/2021 and 1/31/2021 and 15,713,549 at 4/30/2020	159	159	157
Additional paid-in capital	119,908	119,655	119,036
Accumulated deficit	(55,951)	(52,042)	(54,508)
Accumulated other comprehensive loss	(13,258)	(13,585)	(13,966)
Total stockholders’ equity	50,858	54,187	50,719
Total liabilities and stockholders’ equity	$ 133,672	$ 125,036	$ 151,492

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 30, 2021	Jan. 31, 2021	Apr. 30, 2020
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (shares)	3,000,000	3,000,000	3,000,000
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares issued (shares)	0	0	0
Preferred stock, shares outstanding (shares)	0	0	0
Common stock, shares authorized (shares)	25,000,000	25,000,000	25,000,000
Common stock, par value (usd per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares issued (shares)	15,918,642	15,918,642	15,713,549
Common stock, shares outstanding (shares)	15,918,642	15,918,642	15,713,549

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Income Statement [Abstract]
Net sales	$ 28,367	$ 17,817
Costs of goods sold	20,679	12,913
Gross profit	7,688	4,904
Selling, general and administrative expenses	11,983	11,931
Operating loss	(4,295)	(7,027)
Pension expense	506	542
Interest expense	293	404
Loss before income taxes	(5,094)	(7,973)
Income tax benefits	(1,185)	(3,275)
Net loss	$ (3,909)	$ (4,698)
Net loss per common share:
Basic (usd per share)	$ (0.25)	$ (0.30)
Diluted (usd per share)	$ (0.25)	$ (0.30)
Weighted average shares of common stock outstanding:
Basic (shares)	15,824	15,654
Diluted (shares)	15,824	15,654

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (3,909)	$ (4,698)
Other comprehensive income:
Pension adjustments, net of tax effect	327	345
Net comprehensive loss	$ (3,582)	$ (4,353)

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Comprehensive Loss (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Statement of Comprehensive Income [Abstract]
Pension adjustments, tax	$ 116	$ 120

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Operating activities
Net loss	$ (3,909)	$ (4,698)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,151	1,393
Non-cash lease expense	(90)	778
Provision for doubtful accounts	15	15
Deferred income taxes	(1,279)	(3,251)
Stock-based compensation	253	254
Amortization of net actuarial loss for pension plans	443	345
Changes in operating assets and liabilities:
Trade accounts receivable	(4,590)	4,183
Other receivables	(13)	0
Inventories	(4,605)	(14,861)
Income taxes	120	(167)
Prepaid expenses and other current assets	124	(546)
Accounts payable and accrued liabilities	5,422	6,668
Net cash used in operating activities	(6,958)	(9,887)
Investing activities:
Capital expenditures	(233)	(488)
Net cash used in investing activities	(233)	(488)
Financing activities:
Borrowing from long-term debt	8,505	11,413
Repayment of long-term debt	(1,160)	(1,861)
Net cash provided by financing activities	7,345	9,552
Net increase (decrease) in cash	154	(823)
Cash at beginning of period	402	1,150
Cash at end of period	$ 556	$ 327

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (shares) at Jan. 31, 2020		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 loss	(4,698)			(4,698)
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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Pension adjustments, tax	$ 120
Beginning balance (shares) at Jan. 31, 2021	15,918,642	15,918,642
Beginning balance at Jan. 31, 2021	$ 54,187	$ 159	119,655	(52,042)	(13,585)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(3,909)			(3,909)
Pension adjustments, net of tax effect	327				327
Shares vested and others (shares)		0
Shares vested and others	0	$ 0	0
Stock compensation expense	$ 253		253
Ending balance (shares) at Apr. 30, 2021	15,918,642	15,918,642
Ending balance at Apr. 30, 2021	$ 50,858	$ 159	$ 119,908	$ (55,951)	$ (13,258)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Pension adjustments, tax	$ 116

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Statement of Stockholders' Equity [Abstract]
Pension adjustments, tax	$ 116	$ 120

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 30, 2021
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, 2021 (“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, 2021 are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2022. The balance sheet at January 31, 2021 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. Principles of Consolidation and Reclassification The consolidated financial statements include the accounts of Virco Mfg. Corporation and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The classification of certain prior year sales allowances of approximately $218,000, representing the replacement of damaged goods, previously presented in net sales, is presented in costs of goods sold in the accompanying prior period statement of operations, which conforms to current period presentation. Liquidity Management evaluated whether there are any conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern over the next 12 months through June 30, 2022. The Company has experienced an overall decline in net sales and net income for the fiscal year ended January 31, 2021. For the first three-months of fiscal 2022 the Company experienced a material increase in orders and shipments as schools received funding to support a return to classroom instruction. As a result of the reduced revenue in the prior fiscal year, the Company was not in compliance with its fixed-charge coverage ratio under its revolving and secured credit agreement with PNC Bank, as of July 31, 2020, prior to an amendment and waiver negotiated to satisfy the event of default that also reduced the ratio required for the rolling four-quarter period ended October 31, 2020 from 1.10:1.00 to 1.00:1.00. However, the Company was not in compliance with this amended fixed-charge ratio of 1.00:1.00 as of October 31, 2020 due to the continuing decline in net sales and net income. The Company successfully negotiated a waiver and amendment on December 11, 2020 to the agreement to satisfy the event of default and amend the fixed-charge coverage ratio covenant. The amended covenant allows the Company to add back certain COVID-19 related costs incurred between May 1, 2020 through April 30, 2021, not to exceed $2 million, to adjusted EBITDA and retains a minimum fixed-charge coverage ratio of 1.10:1.00 beginning with the quarter ended January 31, 2021 (see Note 7 ). The Company expects the impact of COVID-19 to continue to be a challenge for the foreseeable future and believes the economy will be adversely impacted for an indeterminate period, including the demand for its products and supply of materials and labor required to manufacture products. The extent of the impact will depend on numerous factors that are unknown, uncertain and cannot be reasonably predicted. Based on the Company’s current projections, including COVID-19 related costs, and its ability to manage certain controllable expenditures, management believes it will maintain compliance with the financial covenants for the next 12 months and that the Company’s existing cash, projected operating cash flows and available credit facilities, described in Note 7

Seasonality and Management Use

Seasonality and Management Use of Estimates	3 Months Ended
	Apr. 30, 2021
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, 2021, including those resulting from the continuing impacts of the COVID-19 pandemic, may result in actual outcomes that differ from those contemplated by our assumptions and estimates.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Apr. 30, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Recently Issued Accounting Updates 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, 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. 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, 2021
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. We do not consider our revenue generated through direct-to-customers and resellers 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.

Inventories

Inventories	3 Months Ended
	Apr. 30, 2021
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, 2021, January 31, 2021 and April 30, 2020: 4/30/2021 1/31/2021 4/30/2020 (in thousands) Finished goods $ 16,887 $ 15,606 $ 27,348 WIP 14,630 11,907 19,159 Raw materials 11,358 10,757 11,683 Total inventories $ 42,875 $ 38,270 $ 58,190

Leases

Leases	3 Months Ended
	Apr. 30, 2021
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. In accordance with ASC 842, quantitative information regarding our leases is as follows: Three-Months Ended 4/30/2021 4/30/2020 (in thousands, except lease term and discount rate) Operating lease cost $ 1,238 $ 1,440 Short-term lease cost 96 36 Short-term sublease income (10) (10) Variable lease cost 530 455 Total lease cost $ 1,854 $ 1,921 Other operating leases information: Cash paid for amounts included in the measurement of lease liabilities $ 1,328 $ 662 Right-of-use assets obtained in exchange for new lease liabilities $ 165 $ 270 Weighted-average remaining lease term (years) 3.8 4.7 Weighted-average discount rate 6.40 % 6.40 % Minimum future lease payments for operating leases in effect as of April 30, 2021, are as follows: Operating Lease (in thousands) Remaining of 2022 $ 4,386 2023 5,460 2024 5,319 2025 5,371 2026 1,350 Thereafter — Remaining balance of lease payments $ 21,886 Short-term lease liabilities $ 4,715 Long-term lease liabilities 14,573 Total lease liabilities $ 19,288 Difference between undiscounted cash flows and discounted cash flows $ 2,598

Debt

Debt	3 Months Ended
	Apr. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Outstanding balances for the Company’s long-term debt were as follows: 4/30/2021 1/31/2021 4/30/2020 (in thousands) Revolving credit line $ 12,157 $ 4,590 $ 19,740 Other 5,628 5,850 6,508 Total debt 17,785 10,440 26,248 Less current portion 2,990 887 10,618 Non-current portion $ 14,795 $ 9,553 $ 15,630 The Company (the “Borrowers”) 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-two times since it’s origination in 2011 through fiscal 2021, 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 loan consisting of (i) a revolving line of credit with a Maximum Revolving Advance Amount of $65,000,000 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 through July of each year, minus undrawn amounts of letters of credit and reserves and (ii) an equipment loan of $2,000,000. 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, including reduced borrowings under the revolving line to less than or equal $10,000,000 for a period of 30 consecutive days during the fourth quarter of each fiscal year. The Credit Agreement also contains certain financial covenants, including a fixed charge coverage ratio beginning on February 1 st , 2020 of not less than 1.10 to 1.00, and capital expenditures not to exceed $8,000,000. The Company was in violation with its financial covenants as of July 31, 2020. On September 8, 2020, the Company entered into Amendment No. 21 to the Credit Agreement (“Amendment No. 21”) with its lender, PNC Bank. Amendment No. 21 provided a limited waiver of the Company’s violation of the covenant to maintain a fixed charge coverage ratio of at least 1.00 to 1.00 for the four fiscal quarter period ended July 31, 2020, and amended the fixed charge coverage ratio as follows: (i) 1.00 to 1.00 for the consecutive four fiscal quarter period ended October 31, 2020, and (ii) 1.10 to 1.00 for each consecutive four fiscal quarter period ending thereafter. In connection with Amendment No. 21, the Company also agreed to pay to PNC Bank a non-refundable fee of $75,000. However, the Company was not in compliance with this amended fixed-charge ratio of 1.00:1.00 as of October 31, 2020 due to the continuing decline in net sales and net income. The Company successfully negotiated and entered into Amendment No. 22 on December 11, 2020 to the Revolving Credit and Security Agreement (“Amendment No. 22”) with its lender, PNC Bank. Amendment No. 22 provided a limited waiver of the fixed-charge coverage Ratio for the four fiscal quarter period ended October 31, 2020 and amended the fixed-charge coverage calculation to allow for the add back of certain COVID-19 related costs incurred from May 1, 2020 through April 30, 2021 not to exceed $2 million to adjusted EBITDA beginning with the four fiscal quarter period ended January 31, 2021, and retains the required minimum coverage ratio of 1.10:1.00. In connection with Amendment No. 22, the Company also agreed to pay PNC Bank a non-refundable fee of $40,000. The Company was in compliance with the covenants as of April 30, 2021. 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 1.25% to 1.75%, and the applicable margin for Eurodollar Currency Rate loans is a percentage within a range of 2.25% to 2.75%, 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. The interest rate as of April 30, 2021 was 5.0%. The Company also incurs a fee on the unused portion of the revolving line of credit at a rate of 0.375%. Last year the impact of COVID-19 on liquidity was to moderate the seasonal increase in accounts receivable and production of inventory for summer delivery. Seasonal increases in accounts receivable and inventory are traditionally financed through the Company’s line of credit with PNC Bank. Reductions in inventory were substantially offset by a reduction in borrowing under the revolving line with PNC Bank. In addition to the financial covenants, the Credit Agreement contains events of default as disclosed in Note 3 to our Annual Report on Form 10-K for the year-ended January 31, 2021. 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. The Company's revolving line of credit with PNC is structured to provide seasonal credit availability during the Company's peak summer season. Approximately $22,121,000 was available for borrowing as of April 30, 2021. Management believes that the carrying value of debt approximated fair value at April 30, 2021 and 2020, 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, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In assessing the realizability of deferred tax assets, the Company considers whether it is more-likely-than-not that some portion or all of its deferred tax assets will not be realized. 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. As a part of this evaluation, the Company assesses all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, the availability of tax carrybacks, tax-planning strategies, and results of recent operations (including cumulative losses in recent years), to determine whether sufficient future taxable income will be generated to realize existing deferred tax assets. On the basis of this evaluation, and after considering future reversals of existing taxable temporary differences and the effects of seasonality on the Company’s business, the Company determined that its U.S. federal deferred tax assets are more-likely-than-not to be realizable, but that valuation allowances of $996,000, $1,064,000 and $1,075,000 as of April 30, 2021, January 31, 2021 and April 30, 2020, respectively, are needed for certain state NOL’s to reduce the carrying amount of deferred tax assets to an amount that is more-likely-than-not to be realized. For the first quarter ended April 30, 2021 and 2020, the effective tax rates were 23.3% and 41.1%, respectively. Effective tax rate for the first quarter ended April 30, 2021 is less than the prior year, primarily due to the change in forecasted mix of income before taxes in various jurisdictions, estimated permanent differences and the recording of a partial valuation allowance on net deferred tax assets. On March 27, 2020, the then President signed the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). The Company has performed an analysis of the impact of the CARES Act and have determined that the impact would not be significant. The CARES Act provides single-employer pension companies additional time to meet the funding obligations. Consequently, the tax deduction related to such contributions will be deferred until the funding payment is made. The CARES Act also modifies the limitation for business interest expense deduction. The new limitation has increased from 30 to 50 percent of adjusted taxable income. 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 loss per Share

Net loss per Share	3 Months Ended
	Apr. 30, 2021
Earnings Per Share [Abstract]
Net loss per Share	Net loss per Share Three Months Ended 4/30/2021 4/31/2020 (In thousands, except per share data) Net loss $ (3,909) $ (4,698) Weighted average shares of common stock outstanding 15,824 15,654 Net effect of dilutive shares - based on the treasury stock method using average market price — — Totals 15,824 15,654 Net loss per share - basic $ (0.25) $ (0.30) Net loss per share - diluted (a) $ (0.25) $ (0.30) (a) At April 30, 2021 and 2020, approximately 155,000 and 75,000 shares of common stock equivalents were excluded in the computation of diluted net loss per share, as the effect would be anti-dilutive since the Company reported a net loss.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Incentive Plan The Company's two stock incentive 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 period ended April 30, 2021, the Company granted 0 awards to non-employee directors, vested 0 shares according to their terms and forfeited 0 shares under the 2019 Plan. As of April 30, 2021, there were approximately 677,305 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 period ended April 30, 2021, 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, 2021, there were approximately 32,892 shares available for future issuance under the 2011 Plan. During the three months ended April 30, 2021, stock-based compensation expense related to restricted stock units and awards recognized in cost of goods sold and selling, general and administrative expenses was $55,000 and $198,000, respectively. During the three months ended April 30, 2020, 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 $63,000 and $191,000, respectively.

Retirement Plans

Retirement Plans	3 Months Ended
	Apr. 30, 2021
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, 2021, 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, 2021 and 2020 were as follows: Combined Employee Retirement Plans Three Months Ended 4/30/2021 4/30/2020 (in thousands) Service cost $ — $ — Interest cost 281 301 Expected return on plan assets (218) (224) Plan settlement — — Amortization of prior service cost — — Recognized net actuarial loss 443 465 Benefit cost $ 506 $ 542 401(k) Retirement Plan

Warranty Accrual

Warranty Accrual	3 Months Ended
	Apr. 30, 2021
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, 2021 and 2020: Three Months Ended 4/30/2021 4/30/2020 (in thousands) Beginning balance $ 700 $ 800 Provision 43 60 Costs incurred (43) (60) Ending balance $ 700 $ 800

Contingencies

Contingencies	3 Months Ended
	Apr. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies	ContingenciesThe 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, 2021
Other Income and Expenses [Abstract]
Delivery Costs	Delivery CostsFor the quarter ended April 30, 2021 and 2020, shipping and classroom delivery costs of approximately $2,921,000 and $2,078,000, respectively, were included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations.

COVID-19

COVID-19	3 Months Ended
	Apr. 30, 2021
Unusual or Infrequent Items, or Both [Abstract]
COVID-19	COVID-19On 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. Through the first quarter ended April 30, 2021 the Company operated 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. Subsequent to April 30, 2021 and after vaccinations were available, the Company required all manufacturing and distribution employees to return to work. Office employees and others who can work from home continued to do so through April 30, 2021, but are anticipated to return during the Company’s second quarter. 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 during the pandemic. 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.

Subsequent Events

Subsequent Events	3 Months Ended
	Apr. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsNone.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Apr. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	The following table presents a breakdown of the Company’s inventories as of April 30, 2021, January 31, 2021 and April 30, 2020: 4/30/2021 1/31/2021 4/30/2020 (in thousands) Finished goods $ 16,887 $ 15,606 $ 27,348 WIP 14,630 11,907 19,159 Raw materials 11,358 10,757 11,683 Total inventories $ 42,875 $ 38,270 $ 58,190

Leases (Tables)

Leases (Tables)	3 Months Ended
	Apr. 30, 2021
Leases [Abstract]
Quantitative Information of Leases	In accordance with ASC 842, quantitative information regarding our leases is as follows: Three-Months Ended 4/30/2021 4/30/2020 (in thousands, except lease term and discount rate) Operating lease cost $ 1,238 $ 1,440 Short-term lease cost 96 36 Short-term sublease income (10) (10) Variable lease cost 530 455 Total lease cost $ 1,854 $ 1,921 Other operating leases information: Cash paid for amounts included in the measurement of lease liabilities $ 1,328 $ 662 Right-of-use assets obtained in exchange for new lease liabilities $ 165 $ 270 Weighted-average remaining lease term (years) 3.8 4.7 Weighted-average discount rate 6.40 % 6.40 %
Schedule of Minimum Future Lease Payments	Minimum future lease payments for operating leases in effect as of April 30, 2021, are as follows: Operating Lease (in thousands) Remaining of 2022 $ 4,386 2023 5,460 2024 5,319 2025 5,371 2026 1,350 Thereafter — Remaining balance of lease payments $ 21,886 Short-term lease liabilities $ 4,715 Long-term lease liabilities 14,573 Total lease liabilities $ 19,288 Difference between undiscounted cash flows and discounted cash flows $ 2,598

Debt (Tables)

Debt (Tables)	3 Months Ended
	Apr. 30, 2021
Debt Disclosure [Abstract]
Outstanding balances of long-term debt	Outstanding balances for the Company’s long-term debt were as follows: 4/30/2021 1/31/2021 4/30/2020 (in thousands) Revolving credit line $ 12,157 $ 4,590 $ 19,740 Other 5,628 5,850 6,508 Total debt 17,785 10,440 26,248 Less current portion 2,990 887 10,618 Non-current portion $ 14,795 $ 9,553 $ 15,630

Net loss per Share (Tables)

Net loss per Share (Tables)	3 Months Ended
	Apr. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended 4/30/2021 4/31/2020 (In thousands, except per share data) Net loss $ (3,909) $ (4,698) Weighted average shares of common stock outstanding 15,824 15,654 Net effect of dilutive shares - based on the treasury stock method using average market price — — Totals 15,824 15,654 Net loss per share - basic $ (0.25) $ (0.30) Net loss per share - diluted (a) $ (0.25) $ (0.30) (a) At April 30, 2021 and 2020, approximately 155,000 and 75,000 shares of common stock equivalents were excluded in the computation of diluted net loss per share, as the effect would be anti-dilutive since the Company reported a net loss.

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Apr. 30, 2021
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, 2021 and 2020 were as follows: Combined Employee Retirement Plans Three Months Ended 4/30/2021 4/30/2020 (in thousands) Service cost $ — $ — Interest cost 281 301 Expected return on plan assets (218) (224) Plan settlement — — Amortization of prior service cost — — Recognized net actuarial loss 443 465 Benefit cost $ 506 $ 542

Warranty Accrual (Tables)

Warranty Accrual (Tables)	3 Months Ended
	Apr. 30, 2021
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, 2021 and 2020: Three Months Ended 4/30/2021 4/30/2020 (in thousands) Beginning balance $ 700 $ 800 Provision 43 60 Costs incurred (43) (60) Ending balance $ 700 $ 800

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Thousands	Dec. 11, 2020USD ($)	Apr. 30, 2020USD ($)	Apr. 30, 2021	Sep. 08, 2020	Feb. 01, 2020
Cost of revenue		$ 218
Amendment No. 20 To Credit Facility [Member]
Maximum fixed charge coverage ratio					1.10
Amendment No. 22 To Credit Facility [Member]
Minimum coverage ratio	1.10
Amendment No. 22 To Credit Facility [Member] | Maximum
Covenant compliance, adjusted EBITDA	$ 2,000
Consecutive Four Fiscal Quarters Ending Thereafter | Amendment No. 20 To Credit Facility [Member]
Maximum fixed charge coverage ratio			1.10
Consecutive Four Fiscal Quarters Ending Thereafter | Amendment No. 21 To Credit Facility [Member]
Maximum fixed charge coverage ratio			1	1.10

Seasonality (Details)

Seasonality (Details)	3 Months Ended
	Apr. 30, 2021
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, 2021	Jan. 31, 2021	Apr. 30, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 16,887	$ 15,606	$ 27,348
WIP	14,630	11,907	19,159
Raw materials	11,358	10,757	11,683
Total inventories	$ 42,875	$ 38,270	$ 58,190

Leases - ASC 842 Quantitative I

Leases - ASC 842 Quantitative Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Leases [Abstract]
Operating lease cost	$ 1,238	$ 1,440
Short-term lease cost	96	36
Short-term sublease income	(10)	(10)
Variable lease cost	530	455
Total lease cost	1,854	1,921
Cash paid for amounts included in the measurement of lease liabilities	1,328	662
Right-of-use assets obtained in exchange for new lease liabilities	$ 165	$ 270
Weighted-average remaining lease term (years)	3 years 9 months 18 days	4 years 8 months 12 days
Weighted-average discount rate	6.40%	6.40%

Leases - ASC 842 Minimum Lease

Leases - ASC 842 Minimum Lease Payments (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jan. 31, 2021	Apr. 30, 2020
Leases [Abstract]
Remaining of 2022	$ 4,386
2023	5,460
2024	5,319
2025	5,371
2026	1,350
Thereafter	0
Remaining balance of lease payments	21,886
Short-term lease liabilities	4,715	$ 4,672	$ 4,527
Long-term lease liabilities	14,573	$ 15,619	$ 18,854
Total lease liabilities	19,288
Difference between undiscounted cash flows and discounted cash flows	$ 2,598

Debt (Long-term Debt) (Details)

Debt (Long-term Debt) (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jan. 31, 2021	Apr. 30, 2020
Debt Instrument [Line Items]
Long-term debt	$ 17,785	$ 10,440	$ 26,248
Less current portion	2,990	887	10,618
Non-current portion	14,795	9,553	15,630
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt	12,157	4,590	19,740
Other Debt [Member]
Debt Instrument [Line Items]
Long-term debt	$ 5,628	$ 5,850	$ 6,508

Debt (Narrative) (Details)

Debt (Narrative) (Details)	Dec. 11, 2020USD ($)	Apr. 30, 2021USD ($)	Sep. 08, 2020USD ($)	Feb. 01, 2020USD ($)
Line of Credit Facility [Line Items]
Line Of Credit Facility, Borrowing Capacity, Term		$ 15,000,000
Line of credit facility, period for reduced borrowings during fourth quarter of each fiscal year (consecutive days)		30 days
Revolving credit facility bears interest increased		2.00%
Unused portion fee rate		0.375%
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
Amendment No. 20 To Credit Facility [Member] | Consecutive Four Fiscal Quarters Ending Thereafter
Line of Credit Facility [Line Items]
Maximum fixed charge coverage ratio		1.10
Amendment No. 20 To Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Maximum capital expenditures				$ 8,000,000
Amendment No. 21 To Credit Facility [Member]
Line of Credit Facility [Line Items]
Non-refundable fee			$ 75,000
Amendment No. 21 To Credit Facility [Member] | Consecutive Four Fiscal Quarters Ending July 31, 2020
Line of Credit Facility [Line Items]
Maximum fixed charge coverage ratio			1
Amendment No. 21 To Credit Facility [Member] | Consecutive Four Fiscal Quarters Ending October 31, 2020
Line of Credit Facility [Line Items]
Maximum fixed charge coverage ratio			1
Amendment No. 21 To Credit Facility [Member] | Consecutive Four Fiscal Quarters Ending Thereafter
Line of Credit Facility [Line Items]
Maximum fixed charge coverage ratio		1	1.10
Amendment No. 22 To Credit Facility [Member]
Line of Credit Facility [Line Items]
Non-refundable fee	$ 40,000
Minimum coverage ratio	1.10
Amendment No. 22 To Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Covenant compliance, adjusted EBITDA	$ 2,000,000
PNC [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Remaining borrowing capacity		$ 22,121,000
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] | 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
Eurodollar [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of		2.25%
Eurodollar [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of		2.75%
Alternate Base Rate Loans [Member]
Line of Credit Facility [Line Items]
Interest rate		5.00%
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		1.25%
Alternate Base Rate Loans [Member] | London Interbank Offered Rate LIBOR [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility bears interest range of		1.75%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Jan. 31, 2021
Income Tax Disclosure [Abstract]
Valuation allowance	$ 996	$ 1,075	$ 1,064
Effective tax rate	23.30%	41.10%

Net loss per Share (Details)

Net loss per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Earnings Per Share [Abstract]
Net loss	$ (3,909)	$ (4,698)
Weighted average shares outstanding - basic (shares)	15,824	15,654
Net effect of dilutive share-based on the treasury stock method using average market price (shares)	0	0
Totals (shares)	15,824	15,654
Net income (loss) per share - basic (usd per share)	$ (0.25)	$ (0.30)
Net income (loss) per share - diluted (usd per share)	$ (0.25)	$ (0.30)
Antidilutive stock options (shares)	155	75

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($)	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Cost of Goods Sold [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 55,000	$ 63,000
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	198,000	$ 191,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 1,672,000
Unrecognized compensation expense, weighted average period to be recognized	3 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)	677,305
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 ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Minimum annual contributions per employee, percent	1.00%
Maximum annual contributions per employee, percent	75.00%
Number of common shares held	970,632	763,586
Contributions by employer	$ 184	$ 210

Retirement Plans (Periodic Pens

Retirement Plans (Periodic Pension Cost) (Details) - Pension Plan [Member] - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Components of Net Cost
Service cost	$ 0	$ 0
Interest cost	281	301
Expected return on plan assets	(218)	(224)
Plan settlement	0	0
Amortization of prior service cost	0	0
Recognized net actuarial loss	443	465
Benefit cost	$ 506	$ 542

Warranty (Details)

Warranty (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Warranty claim activity
Beginning balance	$ 700	$ 800
Provision	43	60
Costs incurred	(43)	(60)
Ending balance	$ 700	$ 800
Maximum [Member]
Warranty [Line Items]
Product warranty period	10 years

Contingencies (Details)

Contingencies (Details) - Maximum	Apr. 30, 2021USD ($)
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, 2021	Apr. 30, 2020
Other Income and Expenses [Abstract]
Shipping and classroom delivery costs	$ 2,921,000	$ 2,078,000