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Exhibit 99.1 Virco Reports 5.8 % Increase in Net Income for Second Quarter and Record Backlog Highlights : • • • Stimulus funding driving substantial increase in spending on furniture and equipment for schools $ 60 million backlog represents a record level for Virco and nearly 200 % higher vs. 2019 Current order , production , and shipping trends expected to result in less seasonality in fiscal 2022 and higher than usual revenue and earnings in the fourth quarter Torrance , Calif . , Sept. 14 , 2021 – Virco Mfg . Corporation ( Nasdaq : VIRC ) , the largest manufacturer and supplier of movable furniture and equipment to the education market in the United States , today reported financial results for the period ended July 31 , 2021 ( second quarter of fiscal 2022 ) . Net sales were $ 59.0 million for the second quarter of fiscal 2022 , a slight decline from $ 59.5 million for same period of the prior fiscal year . Net income was $ 3.8 million , or $ 0.24 per diluted share , for the second quarter of fiscal 2022 , an increase of 5.8 % from net income of $ 3.6 million , or $ 0.23 per diluted share , for the same period of the prior fiscal year . As of August 31 , 2021 , the fiscal year - to - date shipments plus unshipped backlog ( " Shipments + Backlog " ) , the Company's preferred measure of current and future business activity , was $ 173.1 million . This compares to $ 135.1 million and $ 162.7 million on the same date in 2020 and 2019 , respectively . The backlog component stood at $ 59.6 million as of August 31 , 2021 , 157 % higher than the same date in 2020 and 198 % higher than the same date in 2019 . Robert Virtue , Chairman and CEO of Virco , said , “ We continue to see a significant increase in orders as more schools are utilizing funding provided from the recent stimulus packages to move forward on long overdue refurbishment projects . Our ability to offer schools high quality furniture and equipment at a competitive price that can be delivered in substantially shorter time periods than overseas competitors is enabling us to increase our market share . Through the first six months of fiscal 2022 , we have already added as many new customers as we did all of last fiscal year . Our successful new business development efforts have resulted in a record backlog , which should lead to a very strong second half of the fiscal year , as well as increasing our total installed base , which provides a consistent source of re - orders in ensuing years . Given the multi - year structure of the stimulus packages , with more tranches of funding becoming available each year through 2025 , we believe we are well positioned to capitalize on the increase in our total addressable market and deliver profitable growth for our shareholders in the coming years . " Doug Virtue , President of Virco , added , " We continue to effectively manage through the impact of the pandemic , although challenges related to labor and materials shortages resulted in a lower level of shipments than we expected in the second quarter . Combined with the continued strong order flow we are seeing , we expect this to result in a higher percentage of our revenue this fiscal year being recognized in the third and fourth quarters than we usually experience , which we expect to reduce the level of seasonality in our financial results . We also continue to improve the management of our