Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
OPTICAL CABLE CORP reported first nine months of fiscal year 2023 results: revenue $54.8 million, net income net income of $3.3 million, EPS $0.42 per basic and diluted share.
- Period
- first nine months of fiscal year 2023
- Revenue
- $54.8 million
- Net income
- net income of $3.3 million
- EPS
- $0.42 per basic and diluted share
- Result
- reported results
Exact text from the filing
Consolidated net sales for the first nine months of fiscal year 2023 increased 11.9% to $54.8 million, compared to net sales of $49.0 million for the first nine months of fiscal year 2022. The Company achieved increases in net sales in its specialty markets in the first nine months of fiscal year 2023, compared to the same period last year, but the increases were partially offset by decreases in its enterprise market. The Company’s sales order backlog/forward load remains at higher than typical levels, but decreased to approximately $6.8 million at the end of the first nine months of fiscal year 2023, compared to approximately $8.0 million at the end of the second quarter of fiscal year 2023 and more than $12.0 million at the end of fiscal year 2022. OCC reported gross profit of $18.4 million in the first nine months of fiscal year 2023, an increase of 32.6% compared to gross profit of $13.9 million in the first nine months of fiscal year 2022. Gross profit margin increased to 33.6% in
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Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
OPTICAL CABLE CORP reported third quarter ended July 31, 2023 results: revenue $16.9 million, net income net income of $101,000, EPS $0.01 per basic and diluted share.
- Period
- third quarter ended July 31, 2023
- Revenue
- $16.9 million
- Net income
- net income of $101,000
- EPS
- $0.01 per basic and diluted share
- Result
- reported results
Exact text from the filing
Consolidated net sales for the third quarter of fiscal year 2023 decreased 2.5% to $16.9 million, compared to net sales of $17.4 million for the same period last year, with decreased net sales in the Company’s enterprise market partially offset by increased net sales in its specialty markets. Gross profit increased 6.4% to $5.1 million in the third quarter of fiscal year 2023, compared to gross profit of $4.8 million for the same period last year. Gross profit margin, or gross profit as a percentage of net sales, increased to 30.2% in the third quarter of fiscal year 2023 compared to 27.7% in the third quarter of fiscal year 2022. OCC realized improved gross profit margins compared to the third quarter of fiscal year 2022 despite a comparable decrease in net sales levels. The Company attributes this margin improvement to gains in production efficiency as well as the impact of a more fully trained workforce. Optical Cable Corp. – Third Quarter 2023 Earnings Release Page 2 of 6 SG&A expe
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