10-Q Filing

OPTICAL CABLE CORP CIK: 1000230 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001437749-15-004601`
Period End Date	20150131
Filing Date	20150310
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	occ-20150131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 35 Cash Flow Statement 62 Stockholders Equity 15

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$66.82K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$74.07K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$92.99K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$59.76K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$726.56K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$750.30K	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$688.62K	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $59,757 at January 31, 2015 and $92,988 at October 31, 2014	`AccountsReceivableNetCurrent`	$9.05M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $59,757 at January 31, 2015 and $92,988 at October 31, 2014	`AccountsReceivableNetCurrent`	$14.08M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$180.13K	USD	Point-in-time
Other receivables	`OtherReceivables`	$189.35K	USD	Point-in-time
Income taxes refundable	`IncomeTaxesReceivable`	$153.80K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Income taxes refundable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Inventories	`InventoryNet`	$17.52M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Inventories	`InventoryNet`	$18.40M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$641.15K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$578.84K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.72M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.84M	shares	Point-in-time
Deferred income taxes, current	`DeferredTaxAssetsNetCurrent`	$1.93M	USD	Point-in-time
Deferred income taxes, current	`DeferredTaxAssetsNetCurrent`	$1.76M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.84M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.72M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$30.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.38M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.11M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.95M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$438.70K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$462.10K	USD	Point-in-time
Deferred income taxes - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$320.51K	USD	Point-in-time
Deferred income taxes - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$297.20K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.43M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$789.36K	USD	Point-in-time
Total assets	`Assets`	$50.04M	USD	Point-in-time
Total assets	`Assets`	$46.03M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$270.00K	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$272.94K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$5.44M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.79M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$2.90M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.51M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$18.79K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$698.05K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.60M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankNoncurrent`	$3.00M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankNoncurrent`	$2.50M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$7.16M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$7.23M	USD	Point-in-time
Deferred income taxes - noncurrent	`DeferredTaxLiabilitiesNoncurrent`	$26.04K	USD	Point-in-time
Deferred income taxes - noncurrent	`DeferredTaxLiabilitiesNoncurrent`	$58.11K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$677.60K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$533.03K	USD	Point-in-time
Total liabilities	`Liabilities`	$16.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.73M	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 6,723,940 shares at January 31, 2015 and 6,839,778 shares at October 31, 2014	`CommonStockValue`	$9.68M	USD	Point-in-time
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 6,723,940 shares at January 31, 2015 and 6,839,778 shares at October 31, 2014	`CommonStockValue`	$9.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$20.73M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$21.46M	USD	Point-in-time
Total shareholders equity attributable to Optical Cable Corporation	`StockholdersEquity`	$31.01M	USD	Point-in-time
Total shareholders equity attributable to Optical Cable Corporation	`StockholdersEquity`	$30.41M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-700.28K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-724.27K	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$30.31M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.68M	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`	$50.04M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$46.03M	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`	$17.36M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$11.13M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$11.97M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.39M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.41M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.05M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.72M	USD	1 Quarter
Royalty expense, net	`RoyaltyRevenueExpense`	$-56.16K	USD	1 Quarter
Royalty expense, net	`RoyaltyRevenueExpense`	$-29.50K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.52K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$9.29K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-676.76K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-393.71K	USD	1 Quarter
Interest expense	`InterestExpense`	$112.93K	USD	1 Quarter
Interest expense	`InterestExpense`	$101.66K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-2.25K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$22.22K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-90.71K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-103.91K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-767.47K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-497.62K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-323.80K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-245.44K	USD	1 Quarter
Net loss	`ProfitLoss`	$-443.67K	USD	1 Quarter
Net loss	`ProfitLoss`	$-252.18K	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-23.99K	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-31.54K	USD	1 Quarter
Net loss attributable to OCC	`NetIncomeLoss`	$-412.14K	USD	1 Quarter
Net loss attributable to OCC	`NetIncomeLoss`	$-228.18K	USD	1 Quarter
Net loss attributable to OCC per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Net loss attributable to OCC per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	Point-in-time
Dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-443.67K	USD	1 Quarter
Net loss	`ProfitLoss`	$-252.18K	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$478.58K	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$491.09K	USD	1 Quarter
Bad debt recovery	`ProvisionForDoubtfulAccounts`	$-7.25K	USD	1 Quarter
Bad debt recovery	`ProvisionForDoubtfulAccounts`	$-26.41K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$36.37K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$225.90K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$250.49K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$155.41K	USD	1 Quarter
Impact of excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$78.19K	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`	$-990.00	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-4.78K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.05M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.25M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$9.21K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-84.09K	USD	1 Quarter
Income taxes refundable	`IncreaseDecreaseInIncomeTaxesReceivable`	$153.80K	USD	1 Quarter
Income taxes refundable	`IncreaseDecreaseInIncomeTaxesReceivable`	$292.38K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$977.76K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$884.49K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$202.21K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$62.31K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-16.34K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.69M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$792.52K	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.38M	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$117.68K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-601.07K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-77.71K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-151.46K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$915.12K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$743.23K	USD	1 Quarter
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$927.98K	USD	1 Quarter
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$205.34K	USD	1 Quarter
Investment in intangible assets	`PaymentsToAcquireIntangibleAssets`	$25.92K	USD	1 Quarter
Investment in intangible assets	`PaymentsToAcquireIntangibleAssets`	$21.09K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-226.43K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-953.90K	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`	$191.74K	USD	1 Quarter
Proceeds from note payable to bank	`ProceedsFromBankDebt`	$1.00M	USD	1 Quarter
Principal payments on long-term debt and note payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$562.93K	USD	1 Quarter
Principal payments on long-term debt and note payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$565.75K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$373.98K	USD	1 Quarter
Impact of excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$3.30K	USD	1 Quarter
Impact of excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$78.19K	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$136.93K	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$131.52K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-190.21K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-712.43K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-23.74K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-400.89K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$726.56K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$750.30K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$688.62K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$726.56K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$750.30K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$688.62K	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	Point-in-time
Dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Balances at October 31, 2014	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$30.31M	USD	Point-in-time
Balances at October 31, 2014	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.68M	USD	Point-in-time
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$58.76K	USD	1 Quarter
Repurchase and retirement of common stock (at cost) (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	320,000.00	shares	9 Qtrs
Repurchase and retirement of common stock (at cost)	`StockRepurchasedAndRetiredDuringPeriodValue`	$373.98K	USD	1 Quarter
Repurchase and retirement of common stock (at cost)	`StockRepurchasedAndRetiredDuringPeriodValue`	$1.40M	USD	9 Qtrs
Common stock dividends declared, $0.02 per share	`DividendsCommonStock`	$135.22K	USD	1 Quarter
Excess tax benefits from share-based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$78.19K	USD	1 Quarter
Net loss	`ProfitLoss`	$-443.67K	USD	1 Quarter
Net loss	`ProfitLoss`	$-252.18K	USD	1 Quarter
Balances at January 31, 2015	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$30.31M	USD	Point-in-time
Balances at January 31, 2015	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.68M	USD	Point-in-time

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