10-Q Filing

OPTICAL CABLE CORP CIK: 1000230 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001437749-24-007574`
Period End Date	20240131
Filing Date	20240313
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	occ20240131_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 28 Cash Flow Statement 56 Stockholders Equity 12

Balance Sheet 73 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`	$71.19K	USD	Point-in-time
Accounts Receivable, Allowance for Credit Loss, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$59.22K	USD	Point-in-time
Accounts Receivable, Allowance for Credit Loss, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$69.64K	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.47M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$220.98K	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
Trade accounts receivable, net of allowance for credit losses of $59,215 at January 31, 2024 and $71,189 at October 31, 2023	`AccountsReceivableNetCurrent`	$7.40M	USD	Point-in-time
Trade accounts receivable, net of allowance for credit losses of $59,215 at January 31, 2024 and $71,189 at October 31, 2023	`AccountsReceivableNetCurrent`	$8.73M	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
Income taxes refundable - current	`IncomeTaxesReceivable`	$81.84K	USD	Point-in-time
Income taxes refundable - current	`IncomeTaxesReceivable`	$81.84K	USD	Point-in-time
Other receivables	`OtherReceivables`	$397.76K	USD	Point-in-time
Other receivables	`OtherReceivables`	$553.11K	USD	Point-in-time
Preferred Stock, Shares Outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common Stock, No Par Value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Inventories	`InventoryNet`	$23.77M	USD	Point-in-time
Inventories	`InventoryNet`	$23.02M	USD	Point-in-time
Common Stock, No Par Value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$595.47K	USD	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$564.07K	USD	Point-in-time
Common Stock, Shares, Outstanding (in shares)	`CommonStockSharesOutstanding`	7.85M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$31.84M	USD	Point-in-time
Common Stock, Shares, Outstanding (in shares)	`CommonStockSharesOutstanding`	7.89M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$35.04M	USD	Point-in-time
Common Stock, Shares, Issued (in shares)	`CommonStockSharesIssued`	7.85M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.14M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.13M	USD	Point-in-time
Common Stock, Shares, Issued (in shares)	`CommonStockSharesIssued`	7.89M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$552.68K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$566.20K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$966.82K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.14M	USD	Point-in-time
Total assets	`Assets`	$40.49M	USD	Point-in-time
Total assets	`Assets`	$43.88M	USD	Point-in-time
Current installments of long-term debt	`LoansPayableCurrent`	$52.62K	USD	Point-in-time
Current installments of long-term debt	`LoansPayableCurrent`	$53.66K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$5.84M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$5.13M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.85M	USD	Point-in-time
Accrued compensation and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.52M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$22.75K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$29.72K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.77M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.73M	USD	Point-in-time
Note payable, revolver - noncurrent	`LongTermLineOfCredit`	$8.32M	USD	Point-in-time
Note payable, revolver - noncurrent	`LongTermLineOfCredit`	$7.46M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermLoansPayable`	$2.61M	USD	Point-in-time
Long-term debt, excluding current installments	`LongTermLoansPayable`	$2.62M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$342.49K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$441.84K	USD	Point-in-time
Total liabilities	`Liabilities`	$19.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$17.15M	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 7,853,357 shares at January 31, 2024 and 7,893,681 shares at October 31, 2023	`CommonStockValue`	$15.19M	USD	Point-in-time
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 7,853,357 shares at January 31, 2024 and 7,893,681 shares at October 31, 2023	`CommonStockValue`	$15.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.16M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.59M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$23.00M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$23.35M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$24.72M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$22.16M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$40.49M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$43.88M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$14.85M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$18.28M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$11.76M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$11.14M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.52M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.71M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.09M	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`	$-6.59K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$13.52K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$13.22K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-1.40M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$1.05M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$298.61K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$270.62K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$280.10K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$67.14K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-18.51K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-203.49K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.42M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$842.45K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$7.08K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$32.46K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$809.98K	USD	1 Quarter
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$-0.18	USD	1 Quarter
Net income (loss) per share: Basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$809.98K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$213.35K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$248.20K	USD	1 Quarter
Bad debt recovery	`ProvisionForDoubtfulAccounts`	$-11.97K	USD	1 Quarter
Bad debt recovery	`ProvisionForDoubtfulAccounts`	$-9.79K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$135.04K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$159.15K	USD	1 Quarter
Gain on insurance proceeds, net	`UnusualOrInfrequentItemInsuranceProceeds`	$234.60K	USD	1 Quarter
Gain on insurance proceeds, net	`UnusualOrInfrequentItemInsuranceProceeds`	-	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-10.06K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.34M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.06M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-84.16K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$103.50K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-743.57K	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`	$-31.40K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-100.15K	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`	$-872.22K	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-8.69K	USD	1 Quarter
Accrued compensation and payroll taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-333.38K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$6.97K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$32.28K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$165.40K	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-64.70K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-261.13K	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`	$80.33K	USD	1 Quarter
Investment in intangible assets	`PaymentsToAcquireIntangibleAssets`	-	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`	$-80.33K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$7.63K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$82.89K	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 finance lease	`FinanceLeasePrincipalPayments`	$8.77K	USD	1 Quarter
Principal payments on finance lease	`FinanceLeasePrincipalPayments`	$9.20K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-906.27K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$706.74K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-29.86K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.25M	USD	1 Quarter
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$186.08K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$220.98K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.47M	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$215.94K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$186.08K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$220.98K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.47M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$215.94K	USD	Point-in-time

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$23.00M	USD	Point-in-time
Balances	`StockholdersEquity`	$23.35M	USD	Point-in-time
Balances	`StockholdersEquity`	$24.72M	USD	Point-in-time
Balances	`StockholdersEquity`	$22.16M	USD	Point-in-time
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$51.49K	USD	1 Quarter
Share-based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$34.32K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$809.98K	USD	1 Quarter
Balances	`StockholdersEquity`	$23.00M	USD	Point-in-time
Balances	`StockholdersEquity`	$23.35M	USD	Point-in-time
Balances	`StockholdersEquity`	$24.72M	USD	Point-in-time
Balances	`StockholdersEquity`	$22.16M	USD	Point-in-time

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