10-Q Filing

OPTICAL CABLE CORP CIK: 1000230 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001437749-19-011785`
Period End Date	20190430
Filing Date	20190611
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	occ20190430b_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 56 Cash Flow Statement 60 Stockholders Equity 17

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$87.45K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$64.24K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$89.18K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$82.12K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$278.38K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$891.17K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$310.67K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$177.41K	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $82,124 at April 30, 2019 and $64,242 at October 31, 2018	`AccountsReceivableNetCurrent`	$11.72M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $82,124 at April 30, 2019 and $64,242 at October 31, 2018	`AccountsReceivableNetCurrent`	$12.83M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$49.95K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$61.95K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$20.24M	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
Preferred stock, no par value (in dollars per share)	`PreferredStockNoParValue`	-	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
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$433.10K	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
Total current assets	`AssetsCurrent`	$32.75M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.20M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.46M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.69M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$10.78M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.69M	shares	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`	7.46M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$635.03K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$664.58K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$162.47K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$93.44K	USD	Point-in-time
Total assets	`Assets`	$43.10M	USD	Point-in-time
Total assets	`Assets`	$44.34M	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$265.54K	USD	Point-in-time
Current installments of long-term debt	`LongTermDebtCurrent`	$260.95K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.26M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.23M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$3.49M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.67M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$21.67K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$24.60K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.03M	USD	Point-in-time
Note payable to bank - noncurrent	`NotesPayableToBankNoncurrent`	$5.15M	USD	Point-in-time
Note payable to bank - noncurrent	`NotesPayableToBankNoncurrent`	$3.00M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.02M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermDebtNoncurrent`	$6.16M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$69.37K	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`	$21.44M	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 7,460,535 shares at April 30, 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 7,460,535 shares at April 30, 2019 and 7,694,387 shares at October 31, 2018	`CommonStockValue`	$13.78M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.99M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.13M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.90M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.81M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$43.10M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$44.34M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$44.44M	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$18.96M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$35.71M	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$26.89M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$30.25M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$17.93M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$13.65M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$26.84M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.31M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.19M	USD	2 Qtrs
Gross profit	`GrossProfit`	$8.87M	USD	2 Qtrs
Gross profit	`GrossProfit`	$8.96M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.55M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.40M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.78M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.96M	USD	2 Qtrs
Royalty income, net	`RoyaltyRevenueExpense`	$11.70K	USD	1 Quarter
Royalty income, net	`RoyaltyRevenueExpense`	$1.71K	USD	1 Quarter
Royalty income, net	`RoyaltyRevenueExpense`	$17.12K	USD	2 Qtrs
Royalty income, net	`RoyaltyRevenueExpense`	$1.49K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$18.90K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$16.29K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$9.48K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$9.05K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$1.56M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-3.70M	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$1.23M	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-475.46K	USD	1 Quarter
Interest expense	`InterestExpense`	$152.47K	USD	1 Quarter
Interest expense	`InterestExpense`	$246.17K	USD	2 Qtrs
Interest expense	`InterestExpense`	$129.29K	USD	1 Quarter
Interest expense	`InterestExpense`	$281.29K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-7.28K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-7.44K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$10.79K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$890.00	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-270.50K	USD	2 Qtrs
Other expense, net	`NonoperatingIncomeExpense`	$-136.73K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-253.45K	USD	2 Qtrs
Other expense, net	`NonoperatingIncomeExpense`	$-151.58K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.95M	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.41M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-612.18K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$956.95K	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$15.71K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$5.24K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-23.78K	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-22.18K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-3.93M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-617.42K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$980.73K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.39M	USD	1 Quarter
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.18	USD	1 Quarter
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.53	USD	2 Qtrs
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.13	USD	2 Qtrs
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-3.93M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-617.42K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$980.73K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$874.27K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$858.66K	USD	2 Qtrs
Bad debt expense	`ProvisionForRecoveryOfDoubtfulAccounts`	$42.69K	USD	2 Qtrs
Bad debt expense	`ProvisionForRecoveryOfDoubtfulAccounts`	$4.86K	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$898.70K	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$702.86K	USD	2 Qtrs
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-6.60K	USD	2 Qtrs
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.44K	USD	2 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.07M	USD	2 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.75M	USD	2 Qtrs
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-50.18K	USD	2 Qtrs
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-12.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.98M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$2.77M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$105.05K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-128.69K	USD	2 Qtrs
Income taxes refundable - noncurrent	`IncreaseDecreaseInIncomeTaxesReceivableNoncurrent`	$66.13K	USD	2 Qtrs
Income taxes refundable - noncurrent	`IncreaseDecreaseInIncomeTaxesReceivableNoncurrent`	-	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.05M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.06M	USD	2 Qtrs
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.15M	USD	2 Qtrs
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.82M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.94K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$45.40K	USD	2 Qtrs
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-31.78K	USD	2 Qtrs
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-4.65K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.05M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-451.11K	USD	2 Qtrs
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$215.95K	USD	2 Qtrs
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$448.57K	USD	2 Qtrs
Investment in intangible assets	`PaymentsForProceedsFromIntangibleAssets`	$11.46K	USD	2 Qtrs
Investment in intangible assets	`PaymentsForProceedsFromIntangibleAssets`	$48.44K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-227.40K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-497.01K	USD	2 Qtrs
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$165.07K	USD	2 Qtrs
Payroll taxes withheld and remitted on share-based payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$937.86K	USD	2 Qtrs
Proceeds from notes payable to bank	`ProceedsFromBankDebt`	$2.35M	USD	2 Qtrs
Proceeds from notes payable to bank	`ProceedsFromBankDebt`	$4.05M	USD	2 Qtrs
Principal payments on long-term debt and notes payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$1.19M	USD	2 Qtrs
Principal payments on long-term debt and notes payable to bank	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$329.51K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$30.00K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	-	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.26K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$47.00	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.08M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.66M	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$133.25K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-612.79K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$278.38K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$891.17K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$310.67K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$177.41K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$278.38K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$891.17K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$310.67K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$177.41K	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$23.69M	USD	Point-in-time
Balances	`StockholdersEquity`	$26.81M	USD	Point-in-time
Balances	`StockholdersEquity`	$22.90M	USD	Point-in-time
Balances	`StockholdersEquity`	$25.21M	USD	Point-in-time
Adoption of accounting standard ASC 606	`ImpactOfAdoptionOfAccountingStandardsUpdate`	$61.76K	USD	2 Qtrs
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-39.16K	USD	2 Qtrs
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$537.78K	USD	2 Qtrs
Repurchase and retirement of common stock (at cost)	`StockRepurchasedAndRetiredDuringPeriodValue`	$1.26K	USD	2 Qtrs
Repurchase and retirement of common stock (at cost)	`StockRepurchasedAndRetiredDuringPeriodValue`	$47.00	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-3.93M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-617.42K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$980.73K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.39M	USD	1 Quarter
Balances	`StockholdersEquity`	$23.69M	USD	Point-in-time
Balances	`StockholdersEquity`	$26.81M	USD	Point-in-time
Balances	`StockholdersEquity`	$22.90M	USD	Point-in-time
Balances	`StockholdersEquity`	$25.21M	USD	Point-in-time

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