Virco Mfg Corporation (VIRC) has reported a 299.77 percent jump in profit for the quarter ended Oct. 31, 2016. The company has earned $24 million, or $1.57 a share in the quarter, compared with $6 million, or $0.39 a share for the same period last year.

Revenue during the quarter grew 4.33 percent to $67.80 million from $64.98 million in the previous year period. Gross margin for the quarter expanded 14 basis points over the previous year period to 35.86 percent. Total expenses were 90.37 percent of quarterly revenues, up from 89.97 percent for the same period last year. That has resulted in a contraction of 40 basis points in operating margin to 9.63 percent.

Operating income for the quarter was $6.53 million, compared with $6.52 million in the previous year period.

Commenting on the Company's third quarter, Virco chairman and chief executive officer Robert Virtue said: "With the bulk of this year’s deliveries now complete, I'm very pleased at how well our Quick Ship program performed. We take real pride in helping educators with all of their furniture and equipment needs, including those last-minute surprises. The feedback on this year’s performance was so positive that we’ve decided to invest even more for next season, expanding the number of schools and students we can serve."