10-Q Filing

OPTICAL CABLE CORP CIK: 1000230 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001000230-14-000010`
Period End Date	20140131
Filing Date	20140317
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	occ-20140131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 35 Cash Flow Statement 64 Stockholders Equity 12

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$92.15K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$74.07K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$85.44K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$66.82K	USD	Point-in-time
Preferred stock, no par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, no par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$726.56K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$506.33K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$750.30K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$591.04K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $66,818 at January 31, 2014 and $74,073 at October 31, 2013	`AccountsReceivableNetCurrent`	$9.95M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $66,818 at January 31, 2014 and $74,073 at October 31, 2013	`AccountsReceivableNetCurrent`	$8.71M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$140.93K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$225.02K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Income taxes refundable	`IncomeTaxesReceivable`	$590.57K	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Income taxes refundable	`IncomeTaxesReceivable`	$886.25K	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Inventories	`InventoryNet`	$19.21M	USD	Point-in-time
Inventories	`InventoryNet`	$18.23M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.57M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$331.14K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.55M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$533.35K	USD	Point-in-time
Deferred income taxes - current	`DeferredTaxAssetsNetCurrent`	$1.73M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.57M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.55M	shares	Point-in-time
Deferred income taxes - current	`DeferredTaxAssetsNetCurrent`	$1.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.91M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.81M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.66M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.83M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$352.61K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$340.81K	USD	Point-in-time
Deferred income taxes - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$161.06K	USD	Point-in-time
Deferred income taxes - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$149.96K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$237.96K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$275.86K	USD	Point-in-time
Total assets	`Assets`	$45.41M	USD	Point-in-time
Total assets	`Assets`	$45.31M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$258.63K	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$261.45K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.11M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.27M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.30M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.82M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankNoncurrent`	$2.50M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankNoncurrent`	$2.00M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$7.43M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$7.50M	USD	Point-in-time
Deferred income taxes - noncurrent	`DeferredTaxLiabilitiesNoncurrent`	$83.16K	USD	Point-in-time
Deferred income taxes - noncurrent	`DeferredTaxLiabilitiesNoncurrent`	$90.35K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$883.51K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$950.95K	USD	Point-in-time
Total liabilities	`Liabilities`	$15.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.19M	USD	Point-in-time
Preferred stock, no par value, authorized 1,000,000 shares; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value, authorized 1,000,000 shares; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 6,547,871 shares at January 31, 2014 and 6,570,734 at October 31, 2013	`CommonStockValue`	$8.68M	USD	Point-in-time
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 6,547,871 shares at January 31, 2014 and 6,570,734 at October 31, 2013	`CommonStockValue`	$8.82M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$21.52M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$20.98M	USD	Point-in-time
Total shareholders' equity attributable to Optical Cable Corporation	`StockholdersEquity`	$30.20M	USD	Point-in-time
Total shareholders' equity attributable to Optical Cable Corporation	`StockholdersEquity`	$29.79M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-670.49K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-638.96K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.12M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.56M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$45.31M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$45.41M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$16.53M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$17.30M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$10.77M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$11.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.52M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.19M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.05M	USD	1 Quarter
Royalty expense, net	`RoyaltyRevenueExpense`	$-29.50K	USD	1 Quarter
Royalty expense, net	`RoyaltyRevenueExpense`	$-48.32K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$9.29K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$23.22K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$263.76K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-676.76K	USD	1 Quarter
Interest expense	`InterestExpense`	$112.93K	USD	1 Quarter
Interest expense	`InterestExpense`	$107.60K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-4.67K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$22.22K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-90.71K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-112.27K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-767.47K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$151.49K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-323.80K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$40.26K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$111.23K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-443.67K	USD	1 Quarter
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-18.59K	USD	1 Quarter
Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-31.54K	USD	1 Quarter
Net income (loss) attributable to OCC	`NetIncomeLoss`	$-412.14K	USD	1 Quarter
Net income (loss) attributable to OCC	`NetIncomeLoss`	$129.82K	USD	1 Quarter
Net income (loss) attributable to OCC per share: Basic and diluted (in usd per share)	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Net income (loss) attributable to OCC per share: Basic and diluted (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Cash dividends declared per common share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Cash dividends declared per common share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	Point-in-time
Cash dividends declared per common share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$111.23K	USD	1 Quarter
Net income	`ProfitLoss`	$-443.67K	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$478.58K	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$495.11K	USD	1 Quarter
Bad debt recovery	`ProvisionforRecoveriesofDoubtfulAccounts`	$-7.25K	USD	1 Quarter
Bad debt recovery	`ProvisionforRecoveriesofDoubtfulAccounts`	$-7.09K	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$42.87K	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$36.37K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$336.80K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$155.41K	USD	1 Quarter
Impact of excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$40.20K	USD	1 Quarter
Impact of excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$3.30K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-990.00	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.40M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.25M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-114.91K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-84.09K	USD	1 Quarter
Income taxes refundable	`IncreaseDecreaseInIncomeTaxesReceivable`	$292.38K	USD	1 Quarter
Income taxes refundable	`IncreaseDecreaseInIncomeTaxesReceivable`	$19.43K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$977.76K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$995.79K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$202.21K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$26.11K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$193.91K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$792.52K	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-2.08M	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$117.68K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$17.27K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-77.71K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-35.37K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.51M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$915.12K	USD	1 Quarter
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$205.34K	USD	1 Quarter
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.49M	USD	1 Quarter
Investment in intangible assets	`PaymentsToAcquireIntangibleAssets`	$21.09K	USD	1 Quarter
Investment in intangible assets	`PaymentsToAcquireIntangibleAssets`	$36.23K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-226.43K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.52M	USD	1 Quarter
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$21.28K	USD	1 Quarter
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$287.15K	USD	1 Quarter
Proceeds from note payable to bank	`ProceedsFromBankDebt`	$2.30M	USD	1 Quarter
Proceeds from note payable to bank	`ProceedsFromBankDebt`	-	USD	1 Quarter
Principal payments on long-term debt and note payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$1.36M	USD	1 Quarter
Principal payments on long-term debt and note payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$562.93K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$543.42K	USD	1 Quarter
Impact of excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$40.20K	USD	1 Quarter
Impact of excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$3.30K	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$131.52K	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$222.43K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-73.03K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-712.43K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-84.71K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-23.74K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$726.56K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$506.33K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$750.30K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$591.04K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$726.56K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$506.33K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$750.30K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$591.04K	USD	Point-in-time

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Cash dividends declared per common share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Cash dividends declared per common share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	Point-in-time
Cash dividends declared per common share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Balances, beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.12M	USD	Point-in-time
Balances, beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.56M	USD	Point-in-time
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$134.13K	USD	1 Quarter
Common stock dividends declared, $0.02 per share	`DividendsCommonStockStock`	$131.15K	USD	1 Quarter
Excess tax benefits from share-based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$3.30K	USD	1 Quarter
Net income	`ProfitLoss`	$111.23K	USD	1 Quarter
Net income	`ProfitLoss`	$-443.67K	USD	1 Quarter
Balances, ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.12M	USD	Point-in-time
Balances, ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.56M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.