secwatch.observer — SEC 8-K summary
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Issuer:     OPTICAL CABLE CORP (OCC)
CIK:        0001000230
Form:       8-K
Filed at:   2024-06-11T23:59:59+00:00
Accession:  0001437749-24-019972
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Optical Cable Q2 net loss $1.6M on sales down 17.9% to $16.1M; backlog $5.6M
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- Net sales $16.1M (-17.9% YoY); net loss $1.6M ($0.21/sh) vs net income $2.4M ($0.31/sh).
- Gross profit margin 25.1% vs 34.6% a year ago, driven by lower sales and production volumes.
- SG&A expenses decreased $0.4M to $5.3M but rose as a % of sales to 33.0% from 28.9%.
- Sales order backlog $5.6M at quarter-end, up from $5.0M prior quarter; weakness in enterprise and specialty markets.
- Management maintains production headcount despite volume drop, citing expected rebound in demand.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000230/000143774924019972/0001437749-24-019972-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000230/000143774924019972/occ20240611_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-019972

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