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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Virco Manufacturing Company | NASDAQ:VIRC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.06 | -0.54% | 11.07 | 11.07 | 11.12 | 11.26 | 10.78 | 11.26 | 31,669 | 16:36:42 |
x
|
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 [FEE REQUIRED]
|
¨
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
|
Report of Independent Registered Public Accounting Firm
|
|
Statements of Net Assets Available for Benefits
|
|
Statement of Changes in Net Assets Available for Benefits
|
|
Notes to the Financial Statements
|
|
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
|
|
Consent of Independent Registered Public Accounting Firm
|
|
|
December 31
|
||||||
|
2017
|
|
2016
|
||||
Assets
|
|
|
|
||||
Investments, at fair value:
|
|
|
|
||||
Common collective trusts
|
$
|
18,575,396
|
|
|
$
|
16,002,004
|
|
Mutual funds
|
5,410,517
|
|
|
4,001,473
|
|
||
Common stock
|
2,908,464
|
|
|
2,625,313
|
|
||
|
26,894,377
|
|
|
22,628,790
|
|
||
Receivables:
|
|
|
|
||||
Notes receivable from participants
|
979,978
|
|
|
1,055,663
|
|
||
|
979,978
|
|
|
1,055,663
|
|
||
|
|
|
|
||||
Total assets
|
27,874,355
|
|
|
23,684,453
|
|
||
|
|
|
|
||||
Liabilities
|
|
|
|
||||
Refund of excess contributions
|
37,221
|
|
|
—
|
|
||
Total liabilities
|
37,221
|
|
|
—
|
|
||
|
|
|
|
||||
Net Assets available for benefits
|
$
|
27,837,134
|
|
|
$
|
23,684,453
|
|
|
Year Ended December 31,
2017
|
||
Additions to net assets attributed to:
|
|
||
Contributions:
|
|
||
Participant contributions
|
$
|
1,766,013
|
|
Rollover contributions
|
17,955
|
|
|
Total contributions
|
1,783,968
|
|
|
|
|
||
Net investment income:
|
|
||
Interest and dividends
|
245,714
|
|
|
Net appreciation in fair value of investments
|
3,182,583
|
|
|
Total net investment income
|
3,428,297
|
|
|
|
|
||
Interest on notes receivable from participants
|
39,633
|
|
|
|
|
||
Other income
|
68,539
|
|
|
|
|
||
Deductions from net assets attributed to:
|
|
||
Benefits paid to participants
|
(1,087,180
|
)
|
|
Administrative expenses
|
(80,576
|
)
|
|
|
|
||
Net increase
|
4,152,681
|
|
|
|
|
||
Net assets available for plan benefits:
|
|
||
Beginning of year
|
23,684,453
|
|
|
End of year
|
$
|
27,837,134
|
|
Years of Service
|
|
Vested Interest
|
|
Less than 2
|
|
0
|
%
|
2
|
|
20
|
%
|
3
|
|
40
|
%
|
4
|
|
60
|
%
|
5
|
|
80
|
%
|
6 or more
|
|
100
|
%
|
Level 1 -
|
Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.
|
Level 2 -
|
Inputs to the valuation methodology include:
|
•
|
Quoted prices for similar assets or liabilities in active markets;
|
•
|
Quoted prices for identical or similar assets or liabilities in inactive markets;
|
•
|
Inputs other than quoted prices that are observable for the asset or liability;
|
•
|
Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
|
Level 3 -
|
Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
|
|
Investment Assets at Fair Value as of December 31, 2017
|
||||||||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Virco Mfg. Corporation common stock
|
$
|
2,818,810
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,818,810
|
|
Cash and money market fund held by Virco Unitized Stock
|
89,654
|
|
|
—
|
|
|
—
|
|
|
89,654
|
|
||||
Mutual funds
|
5,410,517
|
|
|
—
|
|
|
—
|
|
|
5,410,517
|
|
||||
Common collective trusts
|
—
|
|
|
18,575,396
|
|
|
—
|
|
|
18,575,396
|
|
||||
Total investment assets at fair value
|
$
|
8,318,981
|
|
|
$
|
18,575,396
|
|
|
$
|
—
|
|
|
$
|
26,894,377
|
|
|
Investment Assets at Fair Value as of December 31, 2016
|
||||||||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Virco Mfg. Corporation common stock
|
$
|
2,564,655
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,564,655
|
|
Money market fund held by Virco Unitized Stock
|
60,658
|
|
|
—
|
|
|
—
|
|
|
60,658
|
|
||||
Mutual funds
|
4,001,473
|
|
|
—
|
|
|
—
|
|
|
4,001,473
|
|
||||
Common collective trusts
|
—
|
|
|
16,002,004
|
|
|
—
|
|
|
16,002,004
|
|
||||
Total investment assets at fair value
|
$
|
6,626,786
|
|
|
$
|
16,002,004
|
|
|
$
|
—
|
|
|
$
|
22,628,790
|
|
|
December 31
|
||||||
|
2017
|
|
2016
|
||||
Net assets available for benefits per the Plan’s financial statements
|
$
|
27,837,134
|
|
|
$
|
23,684,453
|
|
Add refund of excess contribution payable at end of year
|
37,221
|
|
|
—
|
|
||
Less participants deemed distributed loans
|
(2,467
|
)
|
|
(2,367
|
)
|
||
Net assets available for benefits per the Plan’s Form 5500
|
$
|
27,871,888
|
|
|
$
|
23,682,086
|
|
|
Year ended December, 31
2017
|
||
Changes in net assets available for benefits per the Plan’s financial statements
|
$
|
4,152,681
|
|
Add refund of excess contribution payable at end of year
|
37,221
|
|
|
Change in participants deemed distributed loans at end of year
|
(100
|
)
|
|
Change in net assets available for benefits per the Plan’s Form 5500
|
$
|
4,189,802
|
|
Name of Issuer
|
|
Description of
Investment
|
|
Number of
Units
|
|
Current Value
|
|||
Metlife Reliance Stable Value Fund Class 10
|
|
Common collective trust
|
|
6,980
|
|
|
$
|
787,583
|
|
BlackRock Lifepath 2040 Fund - Class 75
|
|
Common collective trust
|
|
48,437
|
|
|
1,226,435
|
|
|
BlackRock Lifepath 2055 Fund - Class 75
|
|
Common collective trust
|
|
7,288
|
|
|
99,117
|
|
|
BlackRock Lifepath 2050 Fund - Class 75
|
|
Common collective trust
|
|
8,361
|
|
|
217,308
|
|
|
BlackRock Lifepath 2020 Fund - Class 75
|
|
Common collective trust
|
|
158,454
|
|
|
3,089,858
|
|
|
BlackRock Lifepath 2045 Fund - Class 75
|
|
Common collective trust
|
|
26,917
|
|
|
707,372
|
|
|
BlackRock Lifepath 2035 Fund - Class 75
|
|
Common collective trust
|
|
68,171
|
|
|
1,648,385
|
|
|
BlackRock Lifepath Retirement Fund - Class 75
|
|
Common collective trust
|
|
163,129
|
|
|
2,593,753
|
|
|
BlackRock Lifepath 2030 Fund - Class 75
|
|
Common collective trust
|
|
131,814
|
|
|
3,011,955
|
|
|
BlackRock Lifepath 2025 Fund - Class 75
|
|
Common collective trust
|
|
243,034
|
|
|
5,193,630
|
|
|
Templeton Global Bond Fund
|
|
Mutual fund
|
|
16,344
|
|
|
193,675
|
|
|
Western Asset Income Fund
|
|
Mutual fund
|
|
3,308
|
|
|
21,500
|
|
|
Vanguard Small Cap Index Fund
|
|
Mutual fund
|
|
7,424
|
|
|
525,438
|
|
|
Virtus Large CP Value EQ Fund
|
|
Mutual fund
|
|
17,890
|
|
|
292,504
|
|
|
American Funds Capital Income Builder Fund
|
|
Mutual fund
|
|
3,682
|
|
|
231,169
|
|
|
Columbia Global Tech Growth Fund
|
|
Mutual fund
|
|
5,697
|
|
|
181,054
|
|
|
Hartford Core Equity Fund
|
|
Mutual fund
|
|
8,249
|
|
|
240,535
|
|
|
Dreyfus International Equity Fund
|
|
Mutual fund
|
|
3,581
|
|
|
147,055
|
|
|
Deutsche S&P 500 Index Fund
|
|
Mutual fund
|
|
17,226
|
|
|
525,398
|
|
|
Oppenheimer International Growth Fund
|
|
Mutual fund
|
|
2,650
|
|
|
115,596
|
|
|
Vanguard Mid Cap Index Fund
|
|
Mutual fund
|
|
5,581
|
|
|
1,069,028
|
|
|
Hartford Small Cap Growth Fund
|
|
Mutual fund
|
|
3,334
|
|
|
202,329
|
|
|
American Funds New World Fund
|
|
Mutual fund
|
|
3,564
|
|
|
237,073
|
|
|
Prudential Total Return Bond Fund
|
|
Mutual fund
|
|
10,616
|
|
|
154,785
|
|
|
Goldman Sachs Growth Opportunities Fund
|
|
Mutual fund
|
|
15,227
|
|
|
380,072
|
|
|
Victory Established Value Fund
|
|
Mutual fund
|
|
3,607
|
|
|
146,427
|
|
|
Victory Syamore Small Company Opportunity Fund
|
|
Mutual fund
|
|
2,260
|
|
|
106,518
|
|
|
American Funds American Balanced Fund
|
|
Mutual fund
|
|
10,847
|
|
|
293,953
|
|
|
American Funds EuroPacific Growth Fund
|
|
Mutual fund
|
|
6,288
|
|
|
346,408
|
|
|
* Virco Mfg. Corporation (1)
|
|
Common stock
|
|
525,693
|
|
|
2,908,464
|
|
|
* Participant Loans **
|
|
|
|
—
|
|
|
979,978
|
|
|
|
|
|
|
|
|
$
|
27,874,355
|
|
(1)
|
Virco Unitized Stock is a unitized investment which consists of Virco common stock and investments in a money market fund. At December 31, 2017, this investment held 556,633 shares of Virco common stock with a market value of approximately $2.8 million and short-term investment fund of approximately $90,000.
|
|
Virco Mfg. Corporation 401(k) Plan
|
|
Date: June 29, 2018
|
By:
|
/s/ Robert E. Dose
|
|
|
Robert E. Dose
|
|
|
Vice President - Finance
|
1 Year Virco Manufacturing Chart |
1 Month Virco Manufacturing Chart |
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