10-Q Filing

OPTICAL CABLE CORP CIK: 1000230 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-109588`
Period End Date	20130131
Filing Date	20130315
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	occ-20130131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 35 Cash Flow Statement 63 Stockholders Equity 13

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$136.97K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$92.15K	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`	$145.62K	USD	Point-in-time
Preferred stock, no par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$506.33K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$591.04K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$454.65K	USD	Point-in-time
Preferred stock, no par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $85,440 at January 31, 2013 and $92,148 at October 31, 2012	`AccountsReceivableNetCurrent`	$12.60M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $85,440 at January 31, 2013 and $92,148 at October 31, 2012	`AccountsReceivableNetCurrent`	$9.21M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$101.30K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$216.21K	USD	Point-in-time
Income taxes refundable	`IncomeTaxesReceivable`	$137.48K	USD	Point-in-time
Income taxes refundable	`IncomeTaxesReceivable`	$118.06K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$18.46M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Inventories	`InventoryNet`	$19.46M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$510.52K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$484.41K	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
Common stock, shares issued	`CommonStockSharesIssued`	6.41M	shares	Point-in-time
Deferred income taxes - current	`DeferredTaxAssetsNetCurrent`	$2.29M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.21M	shares	Point-in-time
Deferred income taxes - current	`DeferredTaxAssetsNetCurrent`	$2.07M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.99M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.21M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$34.76M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.41M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.50M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.65M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$245.96K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$258.96K	USD	Point-in-time
Deferred income taxes - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$513.82K	USD	Point-in-time
Deferred income taxes - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$738.44K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$790.96K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$589.74K	USD	Point-in-time
Total assets	`Assets`	$47.76M	USD	Point-in-time
Total assets	`Assets`	$46.28M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$247.74K	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$250.44K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.31M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.19M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$3.46M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.39M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$22.94K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.95M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankNoncurrent`	$1.00M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankNoncurrent`	$2.00M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$7.76M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$7.69M	USD	Point-in-time
Deferred income taxes - noncurrent	`DeferredTaxLiabilitiesNoncurrent`	$48.26K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$1.02M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$1.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$17.73M	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 6,213,067 shares at January 31, 2013 and 6,411,592 at October 31, 2012	`CommonStockValue`	$8.11M	USD	Point-in-time
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 6,213,067 shares at January 31, 2013 and 6,411,592 at October 31, 2012	`CommonStockValue`	$8.02M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$22.08M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$22.62M	USD	Point-in-time
Total shareholders' equity attributable to Optical Cable Corporation	`StockholdersEquity`	$30.19M	USD	Point-in-time
Total shareholders' equity attributable to Optical Cable Corporation	`StockholdersEquity`	$30.64M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-609.32K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-627.90K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$30.04M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.57M	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`	$47.76M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$46.28M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$17.30M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$17.33M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$11.18M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$10.77M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.52M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.15M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.96M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.19M	USD	1 Quarter
Royalty (income) expense, net	`RoyaltyRevenue`	$-48.32K	USD	1 Quarter
Royalty (income) expense, net	`RoyaltyRevenue`	$185.53K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$33.38K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$23.22K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$337.35K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$263.76K	USD	1 Quarter
Interest expense	`InterestExpense`	$143.70K	USD	1 Quarter
Interest expense	`InterestExpense`	$107.60K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-1.19K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-4.67K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-144.89K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-112.27K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$151.49K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$192.46K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$39.76K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$40.26K	USD	1 Quarter
Net income	`ProfitLoss`	$111.23K	USD	1 Quarter
Net income	`ProfitLoss`	$152.71K	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-18.59K	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-39.74K	USD	1 Quarter
Net income attributable to Optical Cable Corporation	`NetIncomeLoss`	$192.44K	USD	1 Quarter
Net income attributable to Optical Cable Corporation	`NetIncomeLoss`	$129.82K	USD	1 Quarter
Net income attributable to Optical Cable Corporation per share: Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.03	USD	1 Quarter
Net income attributable to Optical Cable Corporation per share: Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.02	USD	Point-in-time
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.01	USD	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$111.23K	USD	1 Quarter
Net income	`ProfitLoss`	$152.71K	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$495.11K	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$550.86K	USD	1 Quarter
Bad debt recovery	`ProvisionForDoubtfulAccounts`	$-8.64K	USD	1 Quarter
Bad debt recovery	`ProvisionForDoubtfulAccounts`	$-7.09K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$13.45K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$42.87K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$253.84K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$336.80K	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`	$-5.47K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.92K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.40M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.22M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-57.61K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-114.91K	USD	1 Quarter
Income taxes refundable	`IncreaseDecreaseInIncomeTaxesReceivable`	$19.43K	USD	1 Quarter
Income taxes refundable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-48.39K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.18M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$995.79K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$163.93K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$26.11K	USD	1 Quarter
Other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-11.48K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-763.90K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$193.91K	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-349.17K	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-2.08M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$13.81K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$17.27K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-37.96K	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`	$-175.66K	USD	1 Quarter
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.49M	USD	1 Quarter
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$207.33K	USD	1 Quarter
Investment in intangible assets	`PaymentsToAcquireIntangibleAssets`	$34.02K	USD	1 Quarter
Investment in intangible assets	`PaymentsToAcquireIntangibleAssets`	$36.23K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfProductiveAssets`	$80.00	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.52M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-241.27K	USD	1 Quarter
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$105.60K	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
Principal payments on long-term debt and note payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$45.93K	USD	1 Quarter
Principal payments on long-term debt and note payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$1.36M	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`	$-5.47K	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$62.94K	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`	$-219.94K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-84.71K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-636.86K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$506.33K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$591.04K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$454.65K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$506.33K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$591.04K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$454.65K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Common stock dividends declared	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Common stock dividends declared	`CommonStockDividendsPerShareDeclared`	$0.02	USD	Point-in-time
Common stock dividends declared	`CommonStockDividendsPerShareDeclared`	$0.01	USD	1 Quarter
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$30.04M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.57M	USD	Point-in-time
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$49.65K	USD	1 Quarter
Repurchase and retirement of common stock (at cost)	`RepurchaseAndRetirementOfCommonStockAtCost`	$-543.42K	USD	1 Quarter
Common stock dividends declared, $0.02 per share	`DividendsCommonStockStock`	$126.10K	USD	1 Quarter
Excess tax benefits from share-based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$40.20K	USD	1 Quarter
Net income	`ProfitLoss`	$111.23K	USD	1 Quarter
Net income	`ProfitLoss`	$152.71K	USD	1 Quarter
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$30.04M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.57M	USD	Point-in-time

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