Optical Cable Q4 net sales up 14.4% to $15.9M; FY 2021 net income $6.6M vs loss $6.1M

OPTICAL CABLE CORP

Q4 net loss $6K ($0.00 per share) vs net loss $406K ($0.06) in Q4 FY2020.
FY 2021 net sales $59.1M (+7.0% YoY); gross margin expanded to 27.5% from 25.5%.
FY net income $6.6M ($0.87 per share) includes $5.0M PPP loan forgiveness and $4.3M ERTC.
SG&A expenses decreased 5.2% to $18.2M due to cost control initiatives.
Management cites improving customer demand and expects continued recovery from pandemic impacts.

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