10-Q Filing

OPTICAL CABLE CORP CIK: 1000230 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001437749-18-004449`
Period End Date	20180131
Filing Date	20180313
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	occ-20180131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 28 Cash Flow Statement 56 Stockholders Equity 7

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$87.45K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$74.27K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$68.97K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$107.81K	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredUnitsAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$891.17K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$528.95K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	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 $107,808 at January 31, 2018 and $87,446 at October 31, 2017	`AccountsReceivableNetCurrent`	$8.94M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $107,808 at January 31, 2018 and $87,446 at October 31, 2017	`AccountsReceivableNetCurrent`	$11.31M	USD	Point-in-time
Other receivables	`OtherReceivables`	$22.12K	USD	Point-in-time
Other receivables	`OtherReceivables`	$72.10K	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredUnitsOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredUnitsOutstanding`	0.00	shares	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`	$17.62M	USD	Point-in-time
Inventories	`InventoryNet`	$16.78M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$418.12K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$453.33K	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
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
Total current assets	`AssetsCurrent`	$27.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.94M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.67M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.21M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.32M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.89M	USD	Point-in-time
Income taxes refundable - noncurrent	`IncomeTaxesReceivableNoncurrent`	$35.12K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.32M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.67M	shares	Point-in-time
Income taxes refundable - noncurrent	`IncomeTaxesReceivableNoncurrent`	-	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$624.26K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$642.69K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$106.08K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$200.85K	USD	Point-in-time
Total assets	`Assets`	$40.14M	USD	Point-in-time
Total assets	`Assets`	$42.61M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$250.73K	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$253.27K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$5.00M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.59M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.34M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.71M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$16.81K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$15.15K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.97M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankNoncurrent`	$5.70M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankNoncurrent`	$5.90M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.36M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.42M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$133.17K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$124.56K	USD	Point-in-time
Total liabilities	`Liabilities`	$19.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.45M	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 7,674,938 shares at January 31, 2018 and 7,315,605 shares at October 31, 2017	`CommonStockValue`	$11.74M	USD	Point-in-time
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 7,674,938 shares at January 31, 2018 and 7,315,605 shares at October 31, 2017	`CommonStockValue`	$11.76M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.52M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.93M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.69M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.26M	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`	$42.61M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$40.14M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$14.61M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$17.55M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$12.32M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$9.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.23M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.81M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.56M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.19M	USD	1 Quarter
Royalty (income) expense, net	`RoyaltyRevenueExpense`	$5.42K	USD	1 Quarter
Royalty (income) expense, net	`RoyaltyRevenueExpense`	$-31.25K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$7.24K	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`	$-330.70K	USD	1 Quarter
Interest expense	`InterestExpense`	$147.81K	USD	1 Quarter
Interest expense	`InterestExpense`	$128.83K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-69.22K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$9.90K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-217.04K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-118.92K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-449.62K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-636.37K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-39.48K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-20.60K	USD	1 Quarter
Net loss	`ProfitLoss`	$-410.13K	USD	1 Quarter
Net loss	`ProfitLoss`	$-615.77K	USD	1 Quarter
Net loss per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Net loss per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-410.13K	USD	1 Quarter
Net loss	`ProfitLoss`	$-615.77K	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$408.28K	USD	1 Quarter
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$506.34K	USD	1 Quarter
Bad debt expense (recovery)	`ProvisionForRecoveryOfDoubtfulAccounts`	$23.49K	USD	1 Quarter
Bad debt expense (recovery)	`ProvisionForRecoveryOfDoubtfulAccounts`	$-568.00	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$113.35K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$148.92K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-6.60K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-78.48K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-382.73K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.39M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-49.98K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-21.44K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.02M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$840.09K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$35.21K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$14.55K	USD	1 Quarter
Income taxes refundable - noncurrent	`IncreaseDecreaseInIncomeTaxesReceivable`	$35.12K	USD	1 Quarter
Income taxes refundable - noncurrent	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$465.11K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.45M	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$366.61K	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$5.87K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.66K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-2.10K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-8.62K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-27.43K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-68.91K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-297.96K	USD	1 Quarter
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$41.90K	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`	$-2.28K	USD	1 Quarter
Investment in intangible assets	`PaymentsForProceedsFromIntangibleAssets`	$25.66K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-65.84K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-67.56K	USD	1 Quarter
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$135.50K	USD	1 Quarter
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$11.28K	USD	1 Quarter
Proceeds from note payable to bank	`ProceedsFromBankDebt`	$750.00K	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`	$611.20K	USD	1 Quarter
Principal payments on long-term debt and note payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$471.76K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$15.59K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.30K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-498.63K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-362.22K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-633.38K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$891.17K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$528.95K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$891.17K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$528.95K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.69M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.26M	USD	Point-in-time
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-22.14K	USD	1 Quarter
Net loss	`ProfitLoss`	$-410.13K	USD	1 Quarter
Net loss	`ProfitLoss`	$-615.77K	USD	1 Quarter
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.69M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.26M	USD	Point-in-time

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