secwatch.observer — SEC 8-K summary
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Issuer:     OPTICAL CABLE CORP (OCC)
CIK:        0001000230
Form:       8-K
Filed at:   2023-12-21T23:59:59+00:00
Accession:  0001437749-23-035097
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OCC reports FY net income of $2.1M; Q4 net loss of $1.3M on 13.6% sales decline
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- FY2023 net income $2.1M ($0.26 EPS) includes $2.2M insurance gain; sales $72.2M (+4.5% YoY).
- Q4 net sales $17.3M (-13.6% YoY); net loss $1.3M ($0.17 loss) vs Q4 prior year net income.
- Gross profit margin improved to 30.9% for FY but fell to 22.4% in Q4 due to lower production volumes.
- Company notes softening demand in enterprise & wireless carrier markets; specialty markets growth partially offset.
- Cash increased to $1.5M from $0.2M; inventories rose to $23.8M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000230/000143774923035097/0001437749-23-035097-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000230/000143774923035097/occ20231221_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-035097

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer