10-Q Filing

OPTICAL CABLE CORP CIK: 1000230 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001437749-18-016838`
Period End Date	20180731
Filing Date	20180911
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	occ-20180731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 56 Cash Flow Statement 60 Stockholders Equity 10

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$74.27K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$87.45K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$53.55K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.83K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$891.17K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$529.26K	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredUnitsAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredUnitsAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.04M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $53,551 at July 31, 2018 and $87,446 at October 31, 2017	`AccountsReceivableNetCurrent`	$8.94M	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 $53,551 at July 31, 2018 and $87,446 at October 31, 2017	`AccountsReceivableNetCurrent`	$14.59M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredUnitsIssued`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$59.25K	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredUnitsOutstanding`	0.00	shares	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, no par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Inventories	`InventoryNet`	$17.31M	USD	Point-in-time
Inventories	`InventoryNet`	$16.78M	USD	Point-in-time
Preferred stock, no par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$418.12K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$501.05K	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
Total current assets	`AssetsCurrent`	$33.50M	USD	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
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.32M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.21M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.56M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.69M	shares	Point-in-time
Income taxes refundable - noncurrent	`IncomeTaxesReceivableNoncurrent`	-	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.69M	shares	Point-in-time
Income taxes refundable - noncurrent	`IncomeTaxesReceivableNoncurrent`	$44.97K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.32M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$624.26K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$620.49K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$200.85K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$89.79K	USD	Point-in-time
Total assets	`Assets`	$45.81M	USD	Point-in-time
Total assets	`Assets`	$40.14M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$250.73K	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$258.34K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.06M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.59M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$3.07M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.34M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$28.11K	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`	$7.41M	USD	Point-in-time
Note payable to bank - noncurrent	`NotesPayableToBankNoncurrent`	$5.77M	USD	Point-in-time
Note payable to bank - noncurrent	`NotesPayableToBankNoncurrent`	$5.70M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.42M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.22M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$133.17K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$107.79K	USD	Point-in-time
Total liabilities	`Liabilities`	$19.51M	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 7,694,640 shares at July 31, 2018 and 7,315,605 shares at October 31, 2017	`CommonStockValue`	$12.95M	USD	Point-in-time
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 7,694,640 shares at July 31, 2018 and 7,315,605 shares at October 31, 2017	`CommonStockValue`	$11.76M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.93M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$13.35M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.69M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.30M	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`	$40.14M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$45.81M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$67.56M	USD	3 Qtrs
Net sales	`Revenues`	$16.43M	USD	1 Quarter
Net sales	`Revenues`	$23.12M	USD	1 Quarter
Net sales	`Revenues`	$46.89M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$11.13M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$46.34M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$31.11M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$16.09M	USD	1 Quarter
Gross profit	`GrossProfit`	$15.78M	USD	3 Qtrs
Gross profit	`GrossProfit`	$7.03M	USD	1 Quarter
Gross profit	`GrossProfit`	$21.21M	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.31M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.43M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$19.33M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.37M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$16.52M	USD	3 Qtrs
Royalty (income) expense, net	`RoyaltyRevenueExpense`	$-39.19K	USD	1 Quarter
Royalty (income) expense, net	`RoyaltyRevenueExpense`	$-109.35K	USD	3 Qtrs
Royalty (income) expense, net	`RoyaltyRevenueExpense`	$12.52K	USD	1 Quarter
Royalty (income) expense, net	`RoyaltyRevenueExpense`	$29.64K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$25.58K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$18.61K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$6.65K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$9.29K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$659.54K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-865.91K	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$1.89M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-166.07K	USD	1 Quarter
Interest expense	`InterestExpense`	$126.66K	USD	1 Quarter
Interest expense	`InterestExpense`	$392.62K	USD	3 Qtrs
Interest expense	`InterestExpense`	$475.56K	USD	3 Qtrs
Interest expense	`InterestExpense`	$194.26K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$109.83K	USD	3 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-9.46K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$11.66K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$1.33K	USD	3 Qtrs
Other expense, net	`NonoperatingIncomeExpense`	$-203.72K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-115.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-282.80K	USD	3 Qtrs
Other expense, net	`NonoperatingIncomeExpense`	$-474.22K	USD	3 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.41M	USD	3 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$455.81K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.15M	USD	3 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-281.06K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$17.46K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$14.10K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$1.31K	USD	3 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-6.32K	USD	3 Qtrs
Net income (loss)	`ProfitLoss`	$-295.16K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-1.15M	USD	3 Qtrs
Net income (loss)	`ProfitLoss`	$438.35K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$1.42M	USD	3 Qtrs
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.19	USD	3 Qtrs
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.18	USD	3 Qtrs
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.06	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-295.16K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-1.15M	USD	3 Qtrs
Net income (loss)	`ProfitLoss`	$438.35K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$1.42M	USD	3 Qtrs
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$1.23M	USD	3 Qtrs
Depreciation, amortization and accretion	`DepreciationDepletionAndAmortization`	$1.34M	USD	3 Qtrs
Bad debt expense (recovery)	`ProvisionForRecoveryOfDoubtfulAccounts`	$-29.25K	USD	3 Qtrs
Bad debt expense (recovery)	`ProvisionForRecoveryOfDoubtfulAccounts`	$6.16K	USD	3 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$1.36M	USD	3 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$668.68K	USD	3 Qtrs
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-88.46K	USD	3 Qtrs
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.85K	USD	3 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.62M	USD	3 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$390.89K	USD	3 Qtrs
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-29.25K	USD	3 Qtrs
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-12.85K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$532.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$3.33M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$36.71K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$61.99K	USD	3 Qtrs
Income taxes refundable - noncurrent	`IncreaseDecreaseInIncomeTaxesReceivable`	$44.97K	USD	3 Qtrs
Income taxes refundable - noncurrent	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.63M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.47M	USD	3 Qtrs
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$144.77K	USD	3 Qtrs
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.73M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$12.96K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$6.29K	USD	3 Qtrs
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-25.39K	USD	3 Qtrs
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$171.43K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-930.12K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.05M	USD	3 Qtrs
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$412.33K	USD	3 Qtrs
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$523.48K	USD	3 Qtrs
Investment in intangible assets	`PaymentsForProceedsFromIntangibleAssets`	$55.74K	USD	3 Qtrs
Investment in intangible assets	`PaymentsForProceedsFromIntangibleAssets`	$21.81K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-545.29K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-468.07K	USD	3 Qtrs
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$102.01K	USD	3 Qtrs
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$170.50K	USD	3 Qtrs
Proceeds from notes payable to bank	`ProceedsFromBankDebt`	$1.00M	USD	3 Qtrs
Proceeds from notes payable to bank	`ProceedsFromBankDebt`	$8.55M	USD	3 Qtrs
Principal payments on long-term debt and notes payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$8.67M	USD	3 Qtrs
Principal payments on long-term debt and notes payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$815.08K	USD	3 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$62.80K	USD	3 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$17.50K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$47.00	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$17.02K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-354.61K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$48.39K	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.35M	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$145.96K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$891.17K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$529.26K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.04M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$891.17K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$529.26K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.04M	USD	Point-in-time

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.69M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.30M	USD	Point-in-time
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.19M	USD	3 Qtrs
Repurchase and retirement of common stock (at cost)	`StockRepurchasedAndRetiredDuringPeriodValue`	$-47.00	USD	3 Qtrs
Net income	`ProfitLoss`	$-295.16K	USD	1 Quarter
Net income	`ProfitLoss`	$-1.15M	USD	3 Qtrs
Net income	`ProfitLoss`	$438.35K	USD	1 Quarter
Net income	`ProfitLoss`	$1.42M	USD	3 Qtrs
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.69M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.30M	USD	Point-in-time

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