XML 24 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Balance Sheets (USD $)
Apr. 30, 2015
Jan. 31, 2015
Apr. 30, 2014
Liability for Uncertain Tax Positions, Current $ 45,000us-gaap_LiabilityForUncertainTaxPositionsCurrent    
Current assets:      
Cash 580,000us-gaap_Cash 470,000us-gaap_Cash 1,471,000us-gaap_Cash
Trade accounts receivables, net 9,798,000us-gaap_AccountsReceivableNetCurrent 10,614,000us-gaap_AccountsReceivableNetCurrent 8,914,000us-gaap_AccountsReceivableNetCurrent
Other receivables 39,000us-gaap_OtherReceivablesNetCurrent 43,000us-gaap_OtherReceivablesNetCurrent 75,000us-gaap_OtherReceivablesNetCurrent
Income tax receivable 258,000us-gaap_IncomeTaxesReceivable 267,000us-gaap_IncomeTaxesReceivable 311,000us-gaap_IncomeTaxesReceivable
Inventories:      
Finished goods 12,680,000us-gaap_InventoryFinishedGoodsNetOfReserves 5,602,000us-gaap_InventoryFinishedGoodsNetOfReserves 13,175,000us-gaap_InventoryFinishedGoodsNetOfReserves
Work in process 19,136,000us-gaap_InventoryWorkInProcessNetOfReserves 11,487,000us-gaap_InventoryWorkInProcessNetOfReserves 18,775,000us-gaap_InventoryWorkInProcessNetOfReserves
Raw materials and supplies 10,434,000us-gaap_InventoryRawMaterialsAndPurchasedPartsNetOfReserves 9,589,000us-gaap_InventoryRawMaterialsAndPurchasedPartsNetOfReserves 9,642,000us-gaap_InventoryRawMaterialsAndPurchasedPartsNetOfReserves
Total inventories 42,250,000us-gaap_InventoryNet 26,678,000us-gaap_InventoryNet 41,592,000us-gaap_InventoryNet
Deferred Tax Assets, Net, Current 156,000us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent 156,000us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent 203,000us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent
Prepaid expenses and other current assets 1,597,000us-gaap_PrepaidExpenseAndOtherAssetsCurrent 743,000us-gaap_PrepaidExpenseAndOtherAssetsCurrent 1,924,000us-gaap_PrepaidExpenseAndOtherAssetsCurrent
Total current assets 54,678,000us-gaap_AssetsCurrent 38,971,000us-gaap_AssetsCurrent 54,490,000us-gaap_AssetsCurrent
Property, plant and equipment:      
Land 1,671,000us-gaap_Land 1,671,000us-gaap_Land 1,671,000us-gaap_Land
Land improvements 851,000us-gaap_LandImprovements 851,000us-gaap_LandImprovements 1,193,000us-gaap_LandImprovements
Buildings and building improvements 46,443,000us-gaap_BuildingsAndImprovementsGross 47,047,000us-gaap_BuildingsAndImprovementsGross 47,290,000us-gaap_BuildingsAndImprovementsGross
Machinery and equipment 108,533,000us-gaap_MachineryAndEquipmentGross 110,060,000us-gaap_MachineryAndEquipmentGross 113,948,000us-gaap_MachineryAndEquipmentGross
Leasehold improvements 1,909,000us-gaap_LeaseholdImprovementsGross 1,909,000us-gaap_LeaseholdImprovementsGross 2,177,000us-gaap_LeaseholdImprovementsGross
Total property, plant and equipment 159,407,000us-gaap_PropertyPlantAndEquipmentGross 161,538,000us-gaap_PropertyPlantAndEquipmentGross 166,279,000us-gaap_PropertyPlantAndEquipmentGross
Less accumulated depreciation and amortization 124,114,000us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment 126,317,000us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment 130,376,000us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
Net property, plant and equipment 35,293,000us-gaap_PropertyPlantAndEquipmentNet 35,221,000us-gaap_PropertyPlantAndEquipmentNet 35,903,000us-gaap_PropertyPlantAndEquipmentNet
Deferred tax assets, net 601,000us-gaap_DeferredTaxAssetsNetNoncurrent 624,000us-gaap_DeferredTaxAssetsNetNoncurrent 611,000us-gaap_DeferredTaxAssetsNetNoncurrent
Other assets 6,981,000us-gaap_OtherAssetsNoncurrent 6,995,000us-gaap_OtherAssetsNoncurrent 6,851,000us-gaap_OtherAssetsNoncurrent
Total assets 97,553,000us-gaap_Assets 81,811,000us-gaap_Assets 97,855,000us-gaap_Assets
Current liabilities:      
Accounts payable 15,931,000us-gaap_AccountsPayableCurrent 9,901,000us-gaap_AccountsPayableCurrent 16,640,000us-gaap_AccountsPayableCurrent
Accrued compensation and employee benefits 4,054,000us-gaap_EmployeeRelatedLiabilitiesCurrent 4,199,000us-gaap_EmployeeRelatedLiabilitiesCurrent 3,865,000us-gaap_EmployeeRelatedLiabilitiesCurrent
Current portion of long-term debt 14,691,000us-gaap_LongTermDebtCurrent 3,366,000us-gaap_LongTermDebtCurrent 14,586,000us-gaap_LongTermDebtCurrent
Deferred tax liabilities 0us-gaap_DeferredTaxLiabilitiesCurrent 0us-gaap_DeferredTaxLiabilitiesCurrent 0us-gaap_DeferredTaxLiabilitiesCurrent
Other accrued liabilities 4,793,000us-gaap_OtherAccruedLiabilitiesCurrent 3,939,000us-gaap_OtherAccruedLiabilitiesCurrent 5,348,000us-gaap_OtherAccruedLiabilitiesCurrent
Total current liabilities 39,469,000us-gaap_LiabilitiesCurrent 21,405,000us-gaap_LiabilitiesCurrent 40,439,000us-gaap_LiabilitiesCurrent
Non-current liabilities:      
Accrued self-insurance retention 2,503,000us-gaap_SelfInsuranceReserveNoncurrent 1,730,000us-gaap_SelfInsuranceReserveNoncurrent 2,539,000us-gaap_SelfInsuranceReserveNoncurrent
Accrued pension expenses 28,447,000virc_PensionAndOtherPostretirementDefinedBenefitPlansIncludingLifeInsuranceLiabilitiesNoncurrent 28,986,000virc_PensionAndOtherPostretirementDefinedBenefitPlansIncludingLifeInsuranceLiabilitiesNoncurrent 23,538,000virc_PensionAndOtherPostretirementDefinedBenefitPlansIncludingLifeInsuranceLiabilitiesNoncurrent
Income tax payable 45,000us-gaap_AccruedIncomeTaxesNoncurrent 42,000us-gaap_AccruedIncomeTaxesNoncurrent 44,000us-gaap_AccruedIncomeTaxesNoncurrent
Long-term debt, less current portion 6,153,000us-gaap_LongTermDebtNoncurrent 6,153,000us-gaap_LongTermDebtNoncurrent 6,000,000us-gaap_LongTermDebtNoncurrent
Other accrued liabilities 924,000us-gaap_OtherAccruedLiabilitiesNoncurrent 922,000us-gaap_OtherAccruedLiabilitiesNoncurrent 1,090,000us-gaap_OtherAccruedLiabilitiesNoncurrent
Total non-current liabilities 38,072,000us-gaap_LiabilitiesNoncurrent 37,833,000us-gaap_LiabilitiesNoncurrent 33,211,000us-gaap_LiabilitiesNoncurrent
Commitments and contingencies         
Preferred stock:      
Authorized 3,000,000 shares, $.01 par value; none issued or outstanding 0us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue
Common stock:      
Authorized 25,000,000 shares, $.01 par value; issued and outstanding 14,852,640 shares at 4/30/2015 and 1/30/2015 ; and 14,718,414 at 4/30/2014 149,000us-gaap_CommonStockValue 149,000us-gaap_CommonStockValue 147,000us-gaap_CommonStockValue
Additional paid-in capital 116,470,000us-gaap_AdditionalPaidInCapital 116,348,000us-gaap_AdditionalPaidInCapital 116,111,000us-gaap_AdditionalPaidInCapital
Accumulated deficit (76,868,000)us-gaap_RetainedEarningsAccumulatedDeficit (73,690,000)us-gaap_RetainedEarningsAccumulatedDeficit (78,394,000)us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated other comprehensive loss (19,739,000)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (20,234,000)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (13,659,000)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Total stockholders’ equity 20,012,000us-gaap_StockholdersEquity 22,573,000us-gaap_StockholdersEquity 24,205,000us-gaap_StockholdersEquity
Total liabilities and stockholders’ equity $ 97,553,000us-gaap_LiabilitiesAndStockholdersEquity $ 81,811,000us-gaap_LiabilitiesAndStockholdersEquity $ 97,855,000us-gaap_LiabilitiesAndStockholdersEquity