Optical Cable Corp Files Q2 2024 10-Q
Ticker: OCC · Form: 10-Q · Filed: Jun 10, 2024 · CIK: 1000230
| Field | Detail |
|---|---|
| Company | Optical Cable CORP (OCC) |
| Form Type | 10-Q |
| Filed Date | Jun 10, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, manufacturing
TL;DR
OCC filed its Q2 10-Q. Financials are in.
AI Summary
Optical Cable Corp filed its 10-Q for the period ending April 30, 2024. The company, based in Roanoke, VA, reported its financial performance for the second quarter of fiscal year 2024. Key financial details and operational updates are provided in this filing.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Optical Cable Corp, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the nature of the company's business in the manufacturing sector can be subject to market fluctuations and supply chain risks.
Key Numbers
- 20240430 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
Key Players & Entities
- OPTICAL CABLE CORP (company) — Filer
- Roanoke, VA (location) — Company Headquarters
- 20240430 (date) — Reporting Period End Date
FAQ
What is the primary business of Optical Cable Corp?
Optical Cable Corp is involved in drawing and insulating nonferrous wire, as indicated by its Standard Industrial Classification code [3357].
Where is Optical Cable Corp headquartered?
Optical Cable Corp is headquartered in Roanoke, VA, with its business and mailing address at 5290 Concourse Dr, Roanoke, VA 24019.
What fiscal year end does Optical Cable Corp follow?
Optical Cable Corp's fiscal year ends on October 31st (1031).
What is the filing date of this 10-Q report?
This 10-Q report was filed on June 10, 2024.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending April 30, 2024, which is the second quarter of their fiscal year.
Filing Stats: 4,509 words · 18 min read · ~15 pages · Grade level 16.6 · Accepted 2024-06-10 12:31:38
Filing Documents
- occ20240430_10q.htm (10-Q) — 700KB
- ex_682436.htm (EX-31.1) — 15KB
- ex_682437.htm (EX-31.2) — 15KB
- ex_682438.htm (EX-32.1) — 7KB
- ex_682439.htm (EX-32.2) — 7KB
- 0001437749-24-019781.txt ( ) — 3528KB
- occ-20240430.xsd (EX-101.SCH) — 34KB
- occ-20240430_def.xml (EX-101.DEF) — 233KB
- occ-20240430_lab.xml (EX-101.LAB) — 226KB
- occ-20240430_pre.xml (EX-101.PRE) — 258KB
- occ-20240430_cal.xml (EX-101.CAL) — 35KB
- occ20240430_10q_htm.xml (XML) — 345KB
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited) Condensed Consolidated Balance Sheets – April 30, 2024 and October 31, 2023 2 Condensed Consolidated Statements of Operations – Three Months and Six Months Ended April 30, 2024 and 2023 3 Condensed Consolidated Statements of Shareholders' Equity – Three Months and Six Months Ended April 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows –Six Months Ended April 30, 2024 and 2023 5 Condensed Notes to Condensed Consolidated Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 14
Controls and Procedures
Item 4. Controls and Procedures 27 PART II. OTHER INFORMATION
Other Information
Item 5. Other Information 28
Exhibits
Item 6. Exhibits 29
SIGNATURES
SIGNATURES 33 1 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements OPTICAL CABLE CORPORATION Condensed Consolidated Balance Sheets (Unaudited) April 30, October 31, 2024 2023 Assets Current assets: Cash $ 1,089,912 $ 1,468,709 Trade accounts receivable, net of allowance for credit losses of $ 54,261 at April 30, 2024 and $ 71,189 at October 31, 2023 8,297,895 8,727,810 Income taxes refundable - current 81,844 81,844 Other receivables 13,228 397,758 Inventories 21,486,376 23,766,326 Prepaid expenses and other assets 483,909 595,469 Total current assets 31,453,164 35,037,916 Property and equipment, net 7,079,322 7,139,616 Intangible assets, net 539,168 566,197 Other assets, net 813,250 1,135,172 Total assets $ 39,884,904 $ 43,878,901 Liabilities and Shareholders ' Equity Current liabilities: Current installments of long-term debt $ 55,445 $ 52,624 Accounts payable and accrued expenses 5,396,473 5,843,044 Accrued compensation and payroll taxes 1,647,773 1,849,780 Income taxes payable 34,777 22,754 Total current liabilities 7,134,468 7,768,202 Note payable, revolver - noncurrent 8,046,853 8,324,397 Long-term debt, excluding current installments 2,599,030 2,622,620 Other noncurrent liabilities 266,198 441,838 Total liabilities 18,046,549 19,157,057 Shareholders' equity: Preferred stock, no par value, authorized 1,000,000 shares; none issued and outstanding — — Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 7,852,515 shares at April 30, 2024 and 7,893,681 shares at October 31, 2023 15,277,264 15,134,133 Retained earnings 6,561,091 9,587,711 Total shareholders' equity 21,838,355 24,721,844 Commitments and contingencies Total liabilities and shareholders' equity $ 39,884,904 $ 43,878,901 See accompanying condensed notes to condensed consolidated financial statements. 2 Table of Contents OPTICAL CABLE CORPORATION Condense