10-Q Filing

OPTICAL CABLE CORP CIK: 1000230 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001437749-16-027589`
Period End Date	20160131
Filing Date	20160314
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	occ-20160131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 34 Cash Flow Statement 70 Stockholders Equity 8

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$92.99K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$63.01K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$59.76K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$70.09K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$538.70K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$688.62K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredUnitsAuthorized`	1.00M	shares	Point-in-time
Preferred stock, authorized (in shares)	`PreferredUnitsAuthorized`	1.00M	shares	Point-in-time
Preferred stock, issued (in shares)	`PreferredUnitsIssued`	0.00	shares	Point-in-time
Preferred stock, issued (in shares)	`PreferredUnitsIssued`	0.00	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $70,086 at January 31, 2016 and $63,011 at October 31, 2015	`AccountsReceivableNetCurrent`	$9.19M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $70,086 at January 31, 2016 and $63,011 at October 31, 2015	`AccountsReceivableNetCurrent`	$7.58M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredUnitsOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$134.43K	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredUnitsOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$42.97K	USD	Point-in-time
Income taxes refundable	`IncomeTaxesReceivable`	$360.32K	USD	Point-in-time
Preferred stock, no par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, no par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Income taxes refundable	`IncomeTaxesReceivable`	$360.32K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Inventories	`InventoryNet`	$17.82M	USD	Point-in-time
Inventories	`InventoryNet`	$17.60M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$564.02K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$530.49K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.05M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.06M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$29.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.66M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.06M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.05M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$14.67M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$537.34K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$523.66K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$293.71K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.45M	USD	Point-in-time
Total assets	`Assets`	$45.03M	USD	Point-in-time
Total assets	`Assets`	$42.16M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$284.06K	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$281.00K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.46M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.12M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.05M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$22.50K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$45.15K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.64M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankNoncurrent`	$6.00M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankNoncurrent`	$6.00M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.87M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.95M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$551.11K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$117.80K	USD	Point-in-time
Total liabilities	`Liabilities`	$17.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.14M	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 7,052,763 shares at January 31, 2016 and 7,059,548 shares at October 31, 2015	`CommonStockValue`	$10.57M	USD	Point-in-time
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 7,052,763 shares at January 31, 2016 and 7,059,548 shares at October 31, 2015	`CommonStockValue`	$10.36M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.27M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.52M	USD	Point-in-time
Total shareholders equity attributable to Optical Cable Corporation	`StockholdersEquity`	$25.09M	USD	Point-in-time
Total shareholders equity attributable to Optical Cable Corporation	`StockholdersEquity`	$26.63M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-764.23K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-742.06K	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.89M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.32M	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`	$45.03M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$42.16M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$17.36M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$14.05M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$10.55M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$11.97M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.39M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.50M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.09M	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`	$-14.78K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.52K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$3.28K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.60M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-393.71K	USD	1 Quarter
Interest expense	`InterestExpense`	$157.81K	USD	1 Quarter
Interest expense	`InterestExpense`	$101.66K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$17.60K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-2.25K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-140.21K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-103.91K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-497.62K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.74M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-245.44K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$23.87K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.77M	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`	$-22.17K	USD	1 Quarter
Net loss attributable to OCC	`NetIncomeLoss`	$-228.18K	USD	1 Quarter
Net loss attributable to OCC	`NetIncomeLoss`	$-1.75M	USD	1 Quarter
Net loss attributable to OCC per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	1 Quarter
Net loss attributable to OCC per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.77M	USD	1 Quarter
Net loss	`ProfitLoss`	$-252.18K	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$491.09K	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$499.19K	USD	1 Quarter
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$-26.41K	USD	1 Quarter
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$7.08K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$225.90K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$219.07K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$250.49K	USD	1 Quarter
Impact of excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-131.00	USD	1 Quarter
Impact of excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$78.19K	USD	1 Quarter
(Gain) loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-4.78K	USD	1 Quarter
(Gain) loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$4.49K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.05M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.60M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-91.45K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$9.21K	USD	1 Quarter
Income taxes refundable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Income taxes refundable	`IncreaseDecreaseInIncomeTaxesReceivable`	$153.80K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$884.49K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-212.75K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-33.53K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$62.31K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	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`	$-288.39K	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-171.98K	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.38M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-601.07K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$22.52K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-151.46K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-440.69K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$16.22K	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`	$299.97K	USD	1 Quarter
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$927.98K	USD	1 Quarter
Investment in intangible assets	`PaymentsToAcquireIntangibleAssets`	$25.92K	USD	1 Quarter
Investment in intangible assets	`PaymentsToAcquireIntangibleAssets`	$16.96K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfProductiveAssets`	-	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfProductiveAssets`	$4.62K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-953.90K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-312.31K	USD	1 Quarter
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$191.74K	USD	1 Quarter
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$16.28K	USD	1 Quarter
Proceeds from note payable to bank	`ProceedsFromBankDebt`	-	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`	$565.75K	USD	1 Quarter
Principal payments on long-term debt and note payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$68.70K	USD	1 Quarter
Payments for financing costs	`PaymentsOfFinancingCosts`	$21.86K	USD	1 Quarter
Payments for financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$373.98K	USD	1 Quarter
Impact of excess tax benefits from share-based compensation	`ExcessTaxBenefitExpenseFromSharebasedCompensationFinancingActivities`	$-131.00	USD	1 Quarter
Impact of excess tax benefits from share-based compensation	`ExcessTaxBenefitExpenseFromSharebasedCompensationFinancingActivities`	$78.19K	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$136.93K	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$141.31K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-190.21K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-248.28K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-544.38K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-400.89K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$538.70K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$688.62K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$538.70K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$688.62K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.89M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.32M	USD	Point-in-time
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$202.79K	USD	1 Quarter
Excess tax benefits from share-based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$131.00	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.77M	USD	1 Quarter
Net loss	`ProfitLoss`	$-252.18K	USD	1 Quarter
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.89M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.32M	USD	Point-in-time

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