Optical Cable Q1 net sales up 26.6% to $18.3M; swings to net income of $0.10 per share

OPTICAL CABLE CORP

2024-Q1 EPS reported $0.10 revenue$18,283,675

Net sales $18.3M, +26.6% YoY; gross profit $6.5M, +61.2%; gross margin 35.7% vs 28.0%.
Net income of $810K ($0.10 diluted EPS) vs net loss of $936K ($0.12 loss) in prior year.
SG&A $5.5M (29.8% of sales) vs $4.8M (33.1%); increase due to employee and sales costs.
Order backlog/forward load remains above typical levels; CEO cites strong demand across markets.
Company reports improved pricing and production throughput driving results.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

OPTICAL CABLE CORP reported its first quarter ended January 31, 2023 results: revenue $18.3 million, net income $810,000, or $0.10 per basic and diluted share, EPS $0.10 per basic and diluted share.

Period: its first quarter ended January 31, 2023
Revenue: $18.3 million
Net income: $810,000, or $0.10 per basic and diluted share
EPS: $0.10 per basic and diluted share
Result: reported results

Exact text from the filing

results for its first quarter ended January 31, 2023. First Quarter 2023 Financial Results Consolidated net sales for the first quarter of fiscal year 2023 increased 26.6% to $18.3 million, compared to net sales of $14.4 million for the same period last year, with increased net sales in the Company’s enterprise and specialty markets, as well as the wireless carrier

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Source: SEC EDGAR

accession 0001437749-23-006464

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