Welcome to our dedicated page for Optical Cable news (Ticker: OCC), a resource for investors and traders seeking the latest updates and insights on Optical Cable stock.
Optical Cable Corporation (OCC) is a pioneer in the fiber optic cable industry, renowned for its commitment to quality, performance, and service. Founded in 1983 and headquartered in Roanoke, Virginia, OCC has grown to become a leading manufacturer of both fiber optic and copper data communication cabling and connectivity solutions. The company serves a wide range of markets including enterprise, military, industrial, mining, petrochemical, broadcast, oil & gas, and other specialty applications.
OCC’s product portfolio includes tight-buffered fiber optic and copper data communication cables, connectors, patch cords, assemblies, racks, cabinets, datacom enclosures, patch panels, faceplates, and multimedia boxes. The company is known for its rugged and high-performance cabling systems designed to withstand the most challenging environments. OCC’s products are not only tough but also smarter, integrating seamlessly to provide comprehensive connectivity solutions.
In recent years, OCC has expanded its innovation beyond cables to provide entire connectivity systems. This strategic move ensures that customers have a one-stop solution for all their connectivity needs. This holistic approach has attracted top corporations, data centers, universities, broadcasters, waste treatment centers, and military facilities to rely on OCC for dependable connections.
The company’s facilities are located in Roanoke, Virginia, near Asheville, North Carolina, and near Dallas, Texas. These facilities are ISO 9001:2015 registered, and the Roanoke and Dallas facilities boast MIL-STD-790G certification, underscoring their commitment to quality and reliability.
OCC has demonstrated financial resilience and operational efficiency in its recent quarterly reports. The company reported consolidated net sales of $16.9 million for the third quarter of fiscal year 2023, with a gross profit of $5.1 million. Despite a decrease in net sales, OCC managed to improve its gross profit margins due to increased production efficiency and a more fully trained workforce.
For the full fiscal year 2023, OCC recorded net sales of $72.2 million, reflecting a 4.5% increase from the previous year. The company’s gross profit also saw an 8.7% rise, amounting to $22.3 million. However, the latter part of the fiscal year saw some challenges due to market volatility, particularly in the enterprise and wireless carrier markets.
Despite these challenges, OCC’s strategic focus on its specialty markets and a robust backlog/forward load position has enabled it to navigate through market softening and macroeconomic pressures effectively. The company remains committed to capturing demand, driving growth, and operating efficiently to generate value for its shareholders.
OCC continues to innovate and adapt to market changes, hosting regular conference calls and inviting both individual and institutional investors to participate and stay informed. The company’s long-term outlook remains positive, driven by its diversified product portfolio, strong market position, and ongoing commitment to quality and innovation.
Optical Cable (OCC) has announced it will release its Q4 and fiscal year 2024 results on December 23, 2024, covering the periods ended October 31, 2024. The company will host a conference call at 10:30 a.m. Eastern Time on the same day.
Investors can participate by calling (800) 445-7795 in the U.S. or (785) 424-1699 internationally, using Conference ID: OCCQ424. A replay will be available through December 30, 2024. Individual investors can submit questions in advance to occ-jfwbk@joelefrank.com by 9:00 a.m. ET on December 23.
OCC is a leading manufacturer of fiber optic and copper data communication solutions, serving enterprise, harsh environment, specialty, and wireless carrier markets from facilities in Roanoke, Virginia, Asheville, North Carolina, and Dallas, Texas.
Optical Cable (OCC) reported financial results for Q3 FY2024. Net sales decreased 4.2% to $16.2 million compared to Q3 FY2023. The company experienced increased sales in the enterprise market, offset by decreases in specialty markets. Gross profit declined 23.4% to $3.9 million, with gross profit margin at 24.2%. OCC recorded a net loss of $1.6 million, or $0.20 per share. For the first nine months of FY2024, net sales decreased 14% to $47.2 million, with a net loss of $4.6 million. Despite challenging market conditions, OCC has seen increasing sales order backlog since the beginning of FY2024, rising to $6.5 million at the end of Q3.
Optical Cable (OCC) has announced the release of its third quarter fiscal year 2024 results on September 11, 2024. The results cover the three-month and nine-month periods ended July 31, 2024. OCC will host a conference call at 10:30 a.m. Eastern Time on the same day to discuss the results. Investors can participate by calling (800) 245-3047 in the U.S. or (203) 518-9765 internationally, using Conference ID: OCCQ324. A replay will be available until September 18, 2024. The call will also be broadcast live on the company's website. OCC invites analysts, fund investors, and individual investors to submit questions in advance to occ-jfwbk@joelefrank.com by 9:00 a.m. Eastern Time on September 11, 2024.
Optical Cable (Nasdaq GM: OCC) reported a 17.9% decline in net sales for Q2 FY2024, totaling $16.1 million, compared to $19.6 million in Q2 FY2023. Sequentially, net sales increased by 8.5% from $14.9 million in Q1 FY2024. Gross profit for Q2 FY2024 was $4.0 million, down 40.5% from $6.8 million in Q2 FY2023 but up 8.8% from $3.7 million in Q1 FY2024. Gross profit margin decreased to 25.1% from 34.6% YoY. SG&A expenses declined to $5.3 million from $5.7 million YoY. OCC recorded a net loss of $1.6 million, or $0.21 per share, compared to a net income of $2.4 million, or $0.31 per share, YoY. For the first half of FY2024, net sales were $31.0 million, down 18.3% YoY. Gross profit for the first half was $7.8 million, a 41.7% decrease YoY. SG&A expenses for the first half decreased by 6.3% to $10.4 million. OCC recorded a net loss of $3.0 million, or $0.39 per share, for the first half of FY2024, compared to a net income of $3.2 million, or $0.41 per share, YoY.
On June 6, 2024, Optical Cable (Nasdaq: OCC) announced it will release its Q2 FY2024 results on June 10, 2024. The results will cover the three and six-month periods ending April 30, 2024. A conference call to discuss these results will be held at 11:00 a.m. Eastern Time on the same day. To participate, individuals can call provided U.S. or international numbers with Conference ID: OCCQ224. A replay will be available through June 17, 2024. The call will be broadcast live online, accessible through the investor relations section of OCC's website. Questions from analysts, fund investors, and individual investors are welcomed and can be submitted in advance.
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