10-Q Filing

OPTICAL CABLE CORP CIK: 1000230 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001437749-17-004005`
Period End Date	20170131
Filing Date	20170308
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	occ-20170131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 32 Cash Flow Statement 62 Stockholders Equity 8

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$68.97K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$70.09K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$63.01K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$74.27K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$538.70K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredUnitsAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredUnitsAuthorized`	1.00M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $68,969 at January 31, 2017 and $74,266 at October 31, 2016	`AccountsReceivableNetCurrent`	$8.92M	USD	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 $68,969 at January 31, 2017 and $74,266 at October 31, 2016	`AccountsReceivableNetCurrent`	$8.53M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredUnitsIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredUnitsOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$49.39K	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredUnitsOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$70.83K	USD	Point-in-time
Inventories	`InventoryNet`	$16.04M	USD	Point-in-time
Inventories	`InventoryNet`	$15.02M	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
Inventories	`InventoryNet`	$15.02M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$446.33K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$431.78K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.32M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$26.32M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.40M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.36M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.08M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$575.01K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$566.90K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.36M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.08M	shares	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$334.22K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$369.74K	USD	Point-in-time
Total assets	`Assets`	$40.67M	USD	Point-in-time
Total assets	`Assets`	$40.12M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$294.21K	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$309.50K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.07M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.64M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.19M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.18M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$13.50K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$15.60K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.13M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankNoncurrent`	$4.60M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankNoncurrent`	$5.00M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.56M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.65M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$122.91K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$103.38K	USD	Point-in-time
Total liabilities	`Liabilities`	$15.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.85M	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 7,364,093 shares at January 31, 2017 and 7,081,159 shares at October 31, 2016	`CommonStockValue`	$11.08M	USD	Point-in-time
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 7,364,093 shares at January 31, 2017 and 7,081,159 shares at October 31, 2016	`CommonStockValue`	$11.22M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$13.68M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$13.05M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.27M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.76M	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`	$40.12M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$40.67M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$14.05M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$14.61M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$9.80M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$10.55M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.81M	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`	$5.19M	USD	1 Quarter
Royalty expense, net	`RoyaltyRevenueExpense`	$-14.78K	USD	1 Quarter
Royalty expense, net	`RoyaltyRevenueExpense`	$-31.25K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$3.28K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$5.83K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-419.33K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.60M	USD	1 Quarter
Interest expense	`InterestExpense`	$157.81K	USD	1 Quarter
Interest expense	`InterestExpense`	$147.81K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-69.22K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$17.60K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-140.21K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-217.04K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-636.37K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.74M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$23.87K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-20.60K	USD	1 Quarter
Net loss	`ProfitLoss`	$-615.77K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.77M	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-22.17K	USD	1 Quarter
Net loss attributable to OCC	`NetIncomeLoss`	$-615.77K	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`	$-0.09	USD	1 Quarter
Net loss attributable to OCC per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-615.77K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.77M	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$499.19K	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$506.34K	USD	1 Quarter
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$-568.00	USD	1 Quarter
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$7.08K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$219.07K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$148.92K	USD	1 Quarter
Impact of excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Impact of excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-131.00	USD	1 Quarter
(Gain) loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-78.48K	USD	1 Quarter
(Gain) loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$4.49K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-382.73K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.60M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-91.45K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-21.44K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-212.75K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.02M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-33.53K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$14.55K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-288.39K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$465.11K	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$5.87K	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-171.98K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-2.10K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$22.52K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-27.43K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-440.69K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-68.91K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$16.22K	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`	$68.12K	USD	1 Quarter
Investment in intangible assets	`PaymentsForProceedsFromIntangibleAssets`	$16.96K	USD	1 Quarter
Investment in intangible assets	`PaymentsForProceedsFromIntangibleAssets`	$-2.28K	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`	$-65.84K	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`	$11.28K	USD	1 Quarter
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$16.28K	USD	1 Quarter
Principal payments on long-term debt and note payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$471.76K	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`	$15.59K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	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`	-	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$141.31K	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-498.63K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-248.28K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-633.38K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-544.38K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$538.70K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$538.70K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.27M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.76M	USD	Point-in-time
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$137.64K	USD	1 Quarter
Repurchase and retirement of common stock (at cost)	`StockRepurchasedAndRetiredDuringPeriodValue`	$15.59K	USD	1 Quarter
Net loss	`ProfitLoss`	$-615.77K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.77M	USD	1 Quarter
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.27M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.76M	USD	Point-in-time

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