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<SEC-DOCUMENT>0000950134-09-002902.txt : 20090217
<SEC-HEADER>0000950134-09-002902.hdr.sgml : 20090216
<ACCEPTANCE-DATETIME>20090217060854
ACCESSION NUMBER:		0000950134-09-002902
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090213
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090217
DATE AS OF CHANGE:		20090217

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VIRCO MFG CORPORATION
		CENTRAL INDEX KEY:			0000751365
		STANDARD INDUSTRIAL CLASSIFICATION:	PUBLIC BUILDING AND RELATED FURNITURE [2531]
		IRS NUMBER:				951613718
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08777
		FILM NUMBER:		09606739

	BUSINESS ADDRESS:	
		STREET 1:		2027 HARPERS WAY
		CITY:			TORRANCE
		STATE:			CA
		ZIP:			90501
		BUSINESS PHONE:		3105330474

	MAIL ADDRESS:	
		STREET 1:		P O BOX 44846
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90044
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v51487e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
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<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of The Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
<B>Date of Report: February&nbsp;13, 2009</B></DIV>


<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>VIRCO MFG. CORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt">
(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B><BR>
(State or other jurisdiction <BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>001-8777</B><BR>
(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>95-1613718</B><BR>
(IRS Employer Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>2027 Harpers Way <BR>
Torrance, California</B><BR>
(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><BR>
<B>90501</B><BR>
(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
Registrant&#146;s telephone number, including area code: <B>(310)&nbsp;533-0474</B></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
Not Applicable<BR>

(Former name or former address, if changed since last report.)</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Check the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
</TD>
</TR>
</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>











<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;2.02</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Results of Operation and Financial Condition</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On February&nbsp;13, 2009, Virco Mfg. Corporation issued a press release reporting its preliminary
fourth quarter update on financial condition.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A copy of the press release is attached hereto as Exhibit&nbsp;99.1 and incorporated herein by
reference. The information in this Current Report, including Exhibit&nbsp;99.1 hereto, shall not be
deemed &#147;filed&#148; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended, and
shall not be incorporated by reference into any registration statement or other document pursuant
to the Securities Act of 1933, as amended.
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;7.01</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Regulation&nbsp;FD Disclosure</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On February&nbsp;13, 2009, Virco Mfg. Corporation (the &#147;Company&#148;) issued a press release announcing
that its Board of Directors has declared a quarterly cash dividend of $0.025 per share of Common
Stock, which will be payable on March&nbsp;9, 2009 to shareholders of record on February&nbsp;23, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A copy of the press release is attached hereto as Exhibit&nbsp;99.1 and incorporated herein by
reference. The information in this Current Report, including Exhibit&nbsp;99.1 hereto, shall not be
deemed &#147;filed&#148; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended, and
shall not be incorporated by reference into any registration statement or other document pursuant
to the Securities Act of 1933, as amended.
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;9.01</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Financial Statements and Exhibits</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibit&nbsp;99.1 &#151; Press Release dated February&nbsp;13, 2009.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="center"><B>VIRCO MFG. CORPORATION</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="center">(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: February 13, 2009&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="center">/s/ Robert A. Virtue
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="center">(Signature)
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Robert A. Virtue&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Chief Executive Officer and Chairman of the Board of Directors&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="89%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release dated February&nbsp;13, 2009</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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<SEQUENCE>2
<FILENAME>v51487exv99w1.htm
<DESCRIPTION>EX-99.1
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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;99.1
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%"></TD>
    <TD width="14%"></TD>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="50%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">FOR IMMEDIATE RELEASE
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Contact:</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Robert A. Virtue, President<BR>
Douglas A. Virtue, Executive Vice President<BR>
Robert E. Dose, Chief Financial Officer<BR>
Virco Mfg. Corporation<BR>
(310)&nbsp;533-0474</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Virco Announces Cash Dividend and Preliminary Fourth Quarter Update on Financial Condition
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Torrance, California &#151; February&nbsp;13, 2009 &#151; Virco Mfg. Corporation (NASDAQ: VIRC) today announced
the declaration of a cash dividend and provided a preliminary fourth quarter update on its
financial condition in the following letter to stockholders from Robert A. Virtue, President and
CEO:</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I am pleased to announce a quarterly cash dividend of $.025 per share, payable March 9 to
stockholders of record on February&nbsp;23. In keeping with our practice, we reviewed our current
financial position and estimated future cash requirements before deciding to declare this dividend.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In light of the current recession, and given the relatively long window between our fiscal year-end
of January&nbsp;31, 2009 and our anticipated Form&nbsp;10K filing in April, we have also decided to provide
stockholders with a preliminary update on our current financial condition. We do not anticipate
making reports like this on a regular basis, and although it provides a high-level overview of our
condition, we caution against using it as guidance. All markets remain extremely volatile and
despite our present strong position, unforeseen events beyond our control could cause our condition
to change quickly.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Four major elements of our business &#151; balance sheet, order rates, operating costs and customer
relationships &#151; remain gratifyingly stable despite the recession. In the case of our balance
sheet, we ended the year free of bank debt for the first time in over 20&nbsp;years. Inventories are
more than $10,000,000 lower versus last year. Accounts receivable are comparable with last year
and accounts payable are down proportionately with inventory levels. Our 20-year relationship with
Wells Fargo Bank continues to be strong and although our seasonal revolver will have the same
$65,000,000 peak availability in 2009, we don&#146;t expect to need all of it unless some unusual
opportunities present themselves.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Order rates are down, but on a year-over-year basis they haven&#146;t deteriorated appreciably since
mid-summer. Shipments for fiscal 2008 were down approximately 7-8% from 2007. Incoming orders for
the full year were down approximately 8-9%. In the fourth quarter, which captures our entire order
flow since the economy entered its serious downturn last October, incoming orders were down 10-11%.
The backlog itself was up approximately 8-9% at year-end.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Operating costs are appropriately matched to current order rates and we do not anticipate the need
for layoffs. We had the foresight early last year to begin letting natural attrition reduce the
size of our workforce. Between January&nbsp;2008 and January&nbsp;2009, 99 employees left the Company and
were not replaced. As a result we are leanly staffed, even at current reduced levels of demand.
Given our present inventory position and conservative estimates of peak season demand for 2009, we
expect to initiate voluntary overtime in our Conway, Arkansas and Torrance, California plants
sometime in early March. We continue to view our highly experienced and flexible workforce as our
most valuable corporate asset. If conditions do worsen, and in the spirit of fully balanced
corporate social responsibility, we will first pursue additional cost saving measures that do not
include either layoffs or restructuring charges.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We&#146;re also making every effort to support our educational customers and resale partners as they
attempt to balance their own books during this difficult period. One way we&#146;re doing that is with
competitive pricing on our many national and regional contracts. Another is by continuing to offer
reliable delivery and field service on quality products that have long, sustainable service lives.
Finally, we continue to develop new products that make better use of raw material and energy
inputs, and new services like our Take-Back Program that help educators recycle their furniture
when it reaches the end of its service life.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We&#146;ve been asked about possible favorable impacts of the proposed stimulus package on our business.
The plans we&#146;ve seen include funds for new school construction, which could take one or more years
to generate furniture orders; and renovations, which could yield orders for this year. We support
the stimulus package and believe it&#146;s the right solution for the nation&#146;s schools and the broader
economy. We have the liquidity and available production capacity to respond to almost any
conceivable amount of additional demand. But we haven&#146;t built our short-term plans around it, and
no matter how quickly it&#146;s approved and implemented, it isn&#146;t likely to affect the first half of
2009. For these reasons we believe a cautious approach that protects our balance sheet and cash
flows is appropriate through at least mid-year. After that point we should have a better idea of
how the stimulus package will affect state and local funding, which continue to be the source for
most of our volume.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>This news release contains &#147;forward-looking statements&#148; as defined by the Private Securities
Litigation Reform Act of 1995. These statements include, but are not limited to, statements
regarding: new business strategies; the cost and availability of steel and other raw materials; the
costs of utilities and freight; the continuing impact of our Assemble-to-Ship and Equipment for
Educators&#153; programs on earnings; market demand and acceptance of new products;</I></DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>development of new distribution channels; pricing; and seasonality. Forward-looking statements are
based on current expectations and beliefs about future events or circumstances, and you should not
place undue reliance on these statements. Such statements involve known and unknown risks,
uncertainties, assumptions and other factors, many of which are out of our control and difficult to
forecast. These factors may cause actual results to differ materially from those which are
anticipated. Such factors include, but are not limited to: changes in general economic conditions
including raw material, energy and freight costs; the seasonality of our markets; the markets for
school and office furniture generally; the specific markets and customers with which we conduct our
principal business; and the response of competitors to our price increases. See our Annual Report
on Form 10-K for the year ended January&nbsp;31, 2008, and other materials filed with the Securities and
Exchange Commission for a further description of these and other risks and uncertainties applicable
to our business. We assume no, and hereby disclaim any, obligation to update any of our
forward-looking statements. We nonetheless reserve the right to make such updates from time to
time by press release, periodic reports or other methods of public disclosure without the need for
specific reference to this press release. No such update shall be deemed to indicate that other
statements which are not addressed by such an update remain correct or create an obligation to
provide any other updates.</I></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">End of filing
</DIV>



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