10-Q Filing

OPTICAL CABLE CORP CIK: 1000230 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001437749-19-004619`
Period End Date	20190131
Filing Date	20190312
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	occ-20190131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 28 Cash Flow Statement 56 Stockholders Equity 14

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$88.05K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$87.45K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$107.81K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$64.24K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$891.17K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$528.95K	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$177.41K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$418.07K	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $88,051 at January 31, 2019 and $64,242 at October 31, 2018	`AccountsReceivableNetCurrent`	$12.83M	USD	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 $88,051 at January 31, 2019 and $64,242 at October 31, 2018	`AccountsReceivableNetCurrent`	$9.85M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredUnitsOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$61.95K	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredUnitsOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$55.27K	USD	Point-in-time
Preferred stock, no par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Inventories	`InventoryNet`	$17.47M	USD	Point-in-time
Inventories	`InventoryNet`	$19.49M	USD	Point-in-time
Preferred stock, no par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$463.69K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$500.02K	USD	Point-in-time
Common stock, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.05M	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`	$30.27M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.04M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.69M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.44M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.20M	USD	Point-in-time
Income taxes refundable - noncurrent	`IncomeTaxesReceivableNoncurrent`	$49.28K	USD	Point-in-time
Income taxes refundable - noncurrent	`IncomeTaxesReceivableNoncurrent`	$49.28K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.69M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.44M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$635.03K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$651.60K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$162.47K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$156.26K	USD	Point-in-time
Total assets	`Assets`	$43.10M	USD	Point-in-time
Total assets	`Assets`	$42.17M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$260.95K	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$263.60K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.93M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.26M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$3.49M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$2.50M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$21.67K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$20.32K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.71M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.03M	USD	Point-in-time
Note payable to bank - noncurrent	`NotesPayableToBankNoncurrent`	$4.80M	USD	Point-in-time
Note payable to bank - noncurrent	`NotesPayableToBankNoncurrent`	$3.00M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.16M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.09M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$68.42K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$101.15K	USD	Point-in-time
Total liabilities	`Liabilities`	$16.29M	USD	Point-in-time
Total liabilities	`Liabilities`	$18.67M	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 7,436,907 shares at January 31, 2019 and 7,694,387 shares at October 31, 2018	`CommonStockValue`	$13.82M	USD	Point-in-time
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 7,436,907 shares at January 31, 2019 and 7,694,387 shares at October 31, 2018	`CommonStockValue`	$13.75M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.99M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.75M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.49M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.81M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.26M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.69M	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`	$43.10M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$42.17M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$16.75M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$17.55M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$13.19M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$12.32M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.56M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.23M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.77M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.56M	USD	1 Quarter
Royalty (income) expense, net	`RoyaltyRevenueExpense`	$-218.00	USD	1 Quarter
Royalty (income) expense, net	`RoyaltyRevenueExpense`	$5.42K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$7.24K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$9.41K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-330.70K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.22M	USD	1 Quarter
Interest expense	`InterestExpense`	$128.83K	USD	1 Quarter
Interest expense	`InterestExpense`	$116.88K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$158.00	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$9.90K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-116.72K	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`	$-3.34M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-39.48K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-27.42K	USD	1 Quarter
Net loss	`ProfitLoss`	$-410.13K	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.31M	USD	1 Quarter
Net loss per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.44	USD	1 Quarter
Net loss per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	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`	$-3.31M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$443.43K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$408.28K	USD	1 Quarter
Bad debt expense	`ProvisionForRecoveryOfDoubtfulAccounts`	$23.49K	USD	1 Quarter
Bad debt expense	`ProvisionForRecoveryOfDoubtfulAccounts`	$23.81K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$113.35K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$862.25K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-6.60K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.96M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.39M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-6.68K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-49.98K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$840.09K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.01M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-98.09K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$35.21K	USD	1 Quarter
Income taxes refundable - noncurrent	`IncreaseDecreaseInIncomeTaxesReceivableNoncurrent`	-	USD	1 Quarter
Income taxes refundable - noncurrent	`IncreaseDecreaseInIncomeTaxesReceivableNoncurrent`	$35.12K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.73M	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`	$-1.92M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.34K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.66K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-8.62K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-32.73K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.15M	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`	$317.62K	USD	1 Quarter
Investment in intangible assets	`PaymentsForProceedsFromIntangibleAssets`	$25.98K	USD	1 Quarter
Investment in intangible assets	`PaymentsForProceedsFromIntangibleAssets`	$25.66K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-67.56K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-343.60K	USD	1 Quarter
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$135.50K	USD	1 Quarter
Proceeds from notes payable to bank	`ProceedsFromBankDebt`	$750.00K	USD	1 Quarter
Proceeds from notes payable to bank	`ProceedsFromBankDebt`	$2.00M	USD	1 Quarter
Principal payments on long-term debt and notes payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$611.20K	USD	1 Quarter
Principal payments on long-term debt and notes payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$263.74K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.26K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.30K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.74M	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-362.22K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$240.66K	USD	1 Quarter
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`	$177.41K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$418.07K	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`	$177.41K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$418.07K	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.49M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.81M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.26M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.69M	USD	Point-in-time
Adoption of accounting standard ASC 606	`ImpactOfAdoptionOfAccountingStandardsUpdate`	$61.76K	USD	1 Quarter
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-66.33K	USD	1 Quarter
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-22.14K	USD	1 Quarter
Repurchase and retirement of common stock (at cost)	`StockRepurchasedAndRetiredDuringPeriodValue`	$1.26K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-410.13K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-3.31M	USD	1 Quarter
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.49M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.81M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.26M	USD	Point-in-time
Balances	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.69M	USD	Point-in-time

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