10-Q Filing

OPTICAL CABLE CORP CIK: 1000230 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001437749-23-006415`
Period End Date	20230131
Filing Date	20230314
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	occ20230131_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 29 Cash Flow Statement 54 Stockholders Equity 12

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Accounts Receivable, Allowance for Credit Loss, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$59.86K	USD	Point-in-time
Accounts Receivable, Allowance for Credit Loss, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$61.53K	USD	Point-in-time
Accounts Receivable, Allowance for Credit Loss, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$69.64K	USD	Point-in-time
Accounts Receivable, Allowance for Credit Loss, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$57.20K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$215.94K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$186.08K	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
Trade accounts receivable, net of allowance for doubtful accounts of $59,856 at January 31, 2023 and $69,643 at October 31, 2022	`AccountsReceivableNetCurrent`	$10.96M	USD	Point-in-time
Preferred Stock, Shares Authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $59,856 at January 31, 2023 and $69,643 at October 31, 2022	`AccountsReceivableNetCurrent`	$9.91M	USD	Point-in-time
Preferred Stock, Shares Authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Other receivables	`OtherReceivables`	$140.94K	USD	Point-in-time
Preferred Stock, Shares Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$37.44K	USD	Point-in-time
Preferred Stock, Shares Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$19.44M	USD	Point-in-time
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$22.26M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$540.23K	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
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$609.85K	USD	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$31.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.11M	USD	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common Stock, Shares, Outstanding, Ending Balance (in shares)	`CommonStockSharesOutstanding`	7.89M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.30M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.39M	USD	Point-in-time
Common Stock, Shares, Outstanding, Ending Balance (in shares)	`CommonStockSharesOutstanding`	7.87M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$618.14K	USD	Point-in-time
Common Stock, Shares, Issued (in shares)	`CommonStockSharesIssued`	7.89M	shares	Point-in-time
Common Stock, Shares, Issued (in shares)	`CommonStockSharesIssued`	7.87M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$606.72K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.35M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.48M	USD	Point-in-time
Total assets	`Assets`	$40.56M	USD	Point-in-time
Total assets	`Assets`	$42.50M	USD	Point-in-time
Current installments of long-term debt	`LoansPayableCurrent`	$341.52K	USD	Point-in-time
Current installments of long-term debt	`LoansPayableCurrent`	$338.09K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$5.35M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$5.56M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.77M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.76M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$50.38K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$18.10K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.71M	USD	Point-in-time
Note payable, revolver - noncurrent	`LongTermLineOfCredit`	$6.00M	USD	Point-in-time
Note payable, revolver - noncurrent	`LongTermLineOfCredit`	$6.82M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermLoansPayable`	$4.10M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermLoansPayable`	$4.19M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$856.22K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$725.02K	USD	Point-in-time
Total liabilities	`Liabilities`	$19.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$18.40M	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 7,868,568 shares at January 31, 2023 and 7,893,194 shares at October 31, 2022	`CommonStockValue`	$14.64M	USD	Point-in-time
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 7,868,568 shares at January 31, 2023 and 7,893,194 shares at October 31, 2022	`CommonStockValue`	$14.67M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.33M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.52M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.00M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.16M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$40.56M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$42.50M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$14.44M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$14.44M	USD	Annual
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$18.28M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$10.39M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$11.76M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.05M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.52M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.78M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.46M	USD	1 Quarter
Royalty expense, net	`RoyaltyRevenueExpense`	$-6.59K	USD	1 Quarter
Royalty expense, net	`RoyaltyRevenueExpense`	$-6.96K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$12.10K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$13.22K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-753.40K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$1.05M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$158.26K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$270.62K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$67.14K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-11.38K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-169.65K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-203.49K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-923.04K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$842.45K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$32.46K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$12.75K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$809.98K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-935.79K	USD	1 Quarter
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$-0.12	USD	1 Quarter
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$809.98K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-935.79K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$248.20K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$285.95K	USD	1 Quarter
Bad debt recovery	`ProvisionForDoubtfulAccounts`	$-9.79K	USD	1 Quarter
Bad debt recovery	`ProvisionForDoubtfulAccounts`	$-4.33K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$135.04K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$124.44K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-10.06K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-12.01K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.06M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.90K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-20.71K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$103.50K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.60M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.82M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$69.62K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-77.45K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-96.34K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$199.07K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$119.60K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$457.66K	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$114.43K	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-8.69K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$12.15K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$32.28K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-510.51K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$165.40K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.86M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-630.12K	USD	1 Quarter
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$104.67K	USD	1 Quarter
Purchase of and deposits for the purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$73.29K	USD	1 Quarter
Investment in intangible assets	`PaymentsToAcquireIntangibleAssets`	$8.01K	USD	1 Quarter
Investment in intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.79K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-106.47K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-81.29K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$82.89K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$79.60K	USD	1 Quarter
Payments for financing costs	`PaymentsOfFinancingCosts`	$25.00K	USD	1 Quarter
Payments for financing costs	`PaymentsOfFinancingCosts`	$25.00K	USD	1 Quarter
Principal payments on financing lease	`FinanceLeasePrincipalPayments`	$8.77K	USD	1 Quarter
Principal payments on financing lease	`FinanceLeasePrincipalPayments`	$8.37K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.95M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$706.74K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-29.86K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.75K	USD	1 Quarter
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$186.08K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$132.25K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$215.94K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$138.00K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$186.08K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$132.25K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$215.94K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$138.00K	USD	Point-in-time

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balances at October 31, 2022	`StockholdersEquity`	$22.16M	USD	Point-in-time
Balances at October 31, 2022	`StockholdersEquity`	$23.00M	USD	Point-in-time
Balances at October 31, 2022	`StockholdersEquity`	$22.21M	USD	Point-in-time
Balances at October 31, 2022	`StockholdersEquity`	$21.29M	USD	Point-in-time
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$34.32K	USD	1 Quarter
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$19.80K	USD	1 Quarter
Net income	`NetIncomeLoss`	$809.98K	USD	1 Quarter
Net income	`NetIncomeLoss`	$-935.79K	USD	1 Quarter
Balances at January 31, 2023	`StockholdersEquity`	$22.16M	USD	Point-in-time
Balances at January 31, 2023	`StockholdersEquity`	$23.00M	USD	Point-in-time
Balances at January 31, 2023	`StockholdersEquity`	$22.21M	USD	Point-in-time
Balances at January 31, 2023	`StockholdersEquity`	$21.29M	USD	Point-in-time

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