Optical Cable Corp. Files Q3 2024 10-Q

TL;DR

OCC filed their Q3 10-Q, fiscal year ends Oct 31.

AI Summary

Optical Cable Corp. reported its Q3 2024 results for the period ending July 31, 2024. The company's fiscal year ends on October 31st. Specific financial figures for this quarter were not detailed in the provided header information.

Why It Matters

This filing provides an update on Optical Cable Corp.'s financial performance and operational status for the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — The provided text is a standard SEC filing header and does not contain specific financial performance data or forward-looking statements that would indicate a high risk.

Key Numbers

• 20240731 — Fiscal Quarter End Date (Indicates the end of the reporting period for the 10-Q filing.)
• 20240911 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
• 1031 — Fiscal Year End (Optical Cable Corp.'s fiscal year concludes on October 31st.)

Key Players & Entities

• OPTICAL CABLE CORP (company) — Filer
• 20240731 (date) — Reporting period end date
• 20240911 (date) — Filing date
• VA (location) — State of incorporation and business address
• Roanoke (location) — City of business address
• 5402650690 (phone_number) — Business phone number

FAQ

Filing Documents

• occ20240731_10q.htm (10-Q) — 727KB
• ex_721000.htm (EX-10.11) — 29KB
• ex_721001.htm (EX-10.12) — 57KB
• ex_721010.htm (EX-31.1) — 14KB
• ex_721009.htm (EX-31.2) — 13KB
• ex_721003.htm (EX-32.1) — 5KB
• ex_721002.htm (EX-32.2) — 4KB
• 0001437749-24-028941.txt ( ) — 3693KB
• occ-20240731.xsd (EX-101.SCH) — 33KB
• occ-20240731_def.xml (EX-101.DEF) — 238KB
• occ-20240731_lab.xml (EX-101.LAB) — 231KB
• occ-20240731_pre.xml (EX-101.PRE) — 263KB
• occ-20240731_cal.xml (EX-101.CAL) — 36KB
• occ20240731_10q_htm.xml (XML) — 351KB

Financial Statements (unaudited)

Financial Statements (unaudited) Condensed Consolidated Balance Sheets – July 31, 2024 and October 31, 2023 2 Condensed Consolidated Statements of Operations – Three Months and Nine Months Ended July 31, 2024 and 2023 3 Condensed Consolidated Statements of Shareholders' Equity – Three Months and Nine Months Ended July 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows –Nine Months Ended July 31, 2024 and 2023 5 Condensed Notes to Condensed Consolidated Financial Statements 6 Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 15 Item 4.

Controls and Procedures

Controls and Procedures 28 PART II. OTHER INFORMATION Item 5. Other Information 29 Item 6. Exhibits 30

SIGNATURES

SIGNATURES 35 1 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements OPTICAL CABLE CORPORATION Condensed Consolidated Balance Sheets (Unaudited) July 31, October 31, 2024 2023 Assets Current assets: Cash $ 796,735 $ 1,468,709 Trade accounts receivable, net of allowance for credit losses of $ 70,742 at July 31, 2024 and $ 71,189 at October 31, 2023 8,588,865 8,727,810 Income taxes refundable - current 80,797 81,844 Other receivables 40,581 397,758 Inventories 19,259,308 23,766,326 Prepaid expenses and other assets 424,239 595,469 Total current assets 29,190,525 35,037,916 Property and equipment, net 6,985,219 7,139,616 Intangible assets, net 527,047 566,197 Other assets, net 895,847 1,135,172 Total assets $ 37,598,638 $ 43,878,901 Liabilities and Shareholders ' Equity Current liabilities: Current installments of long-term debt $ 55,958 $ 52,624 Accounts payable and accrued expenses 5,338,907 5,843,044 Accrued compensation and payroll taxes 1,568,292 1,849,780 Income taxes payable 12,949 22,754 Total current liabilities 6,976,106 7,768,202 Note payable, revolver - noncurrent 7,280,673 8,324,397 Long-term debt, excluding current installments 2,585,095 2,622,620 Other noncurrent liabilities 402,673 441,838 Total liabilities 17,244,547 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 7,890,494 shares at July 31, 2024 and 7,893,681 shares at October 31, 2023 15,350,053 15,134,133 Retained earnings 5,004,038 9,587,711 Total shareholders' equity 20,354,091 24,721,844 Commitments and contingencies Total liabilities and shareholders' equity $ 37,598,638 $ 43,878,901 See accompanying condensed notes to condensed consolidated financial statements. 2 Table of Contents OPTICAL CABLE CORPORATION Condensed Con

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View this 10-Q filing on SEC EDGAR