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 Corporation (Nasdaq: OCC) reported a strong first quarter for fiscal year 2023, with net sales increasing by 26.6% to $18.3 million from $14.4 million year-over-year. Gross profit surged 61.2% to $6.5 million, resulting in a gross profit margin of 35.7%, up from 28.0%. The company also achieved a net income of $810,000 or $0.10 per share, a turnaround from a net loss of $936,000 in Q1 2022. SG&A expenses rose to $5.5 million, accounting for 29.8% of net sales, down from 33.1%.
Optical Cable Corporation (OCC) will release its first quarter fiscal year 2023 results on March 13, 2023, covering the three-month period ending January 31, 2023. A conference call will be held at 10:00 a.m. Eastern Time the same day for analysts and investors, with the option to submit questions in advance. OCC is a prominent manufacturer of fiber optic and copper data communication cabling, focusing on both enterprise and specialty markets, and is recognized for its innovative communication technologies. The company is headquartered in Roanoke, Virginia, with facilities certified by ISO 9001:2015 and MIL-STD-790G.
Optical Cable Corporation (Nasdaq GM: OCC) reported a strong fiscal year 2022, with net sales increasing by 16.8% to $69.1 million and a 31.0% rise in fourth-quarter gross profit to $6.6 million. The fourth quarter saw net sales grow 26.3% sequentially, bolstered by demand and production efficiency. Despite challenges from COVID-19 impacting supply chains, the company recorded a net income of $1.2 million for the fourth quarter, reversing a previous loss. However, the annual net loss stood at $347,000.
Optical Cable Corporation (Nasdaq GM: OCC) is set to announce its fourth quarter and fiscal year 2022 results on December 22, 2022, covering the period ending October 31, 2022. A conference call will follow on the same day at 10:00 a.m. ET to discuss the financial outcomes. Interested participants can join via phone or online, with a replay available until December 29, 2022. OCC specializes in fiber optic and copper data communication solutions, catering to various markets including enterprise and harsh environments.
Optical Cable Corporation (OCC) reported its third-quarter financial results for fiscal year 2022, showing a 11.2% increase in net sales to $17.4 million, and a 17.6% rise in gross profit to $4.8 million. The company noted strong demand in specialty markets, particularly wireless carriers, despite challenges in the enterprise market. The gross profit margin improved to 27.7%. However, OCC recorded a net loss of $372,000 compared to a net income of $5.4 million last year. For the first nine months, net sales rose 13.3% to $49 million, but the company faced rising costs and a net loss of $1.5 million.
Optical Cable Corporation (Nasdaq GM: OCC) will release its third quarter fiscal results on September 12, 2022, covering the three and nine-month periods ending July 31, 2022. A conference call will follow at 10:00 a.m. Eastern Time. Interested participants can dial in at (800) 225-9448 in the U.S. or (203) 518-9856 internationally, using Conference ID: OCCQ322. A replay of the call will be available until September 19, 2022, and will also be streamed live on the company's website.
Optical Cable Corporation (OCC) reported a 9.3% year-over-year increase in net sales for Q2 2022, totaling $17.2 million, driven by demand in enterprise and specialty markets. Gross profit rose 4.4% to $5.0 million, with a margin of 29.3%. However, the company faced a net loss of $228,000 or $0.03 per share, down from a profit of $3.4 million or $0.45 in Q2 2021. SG&A expenses increased to $5.0 million, reflecting higher personnel costs. The first half of 2022 saw a 14.6% revenue boost to $31.6 million, but net loss accumulated to $1.2 million.
Optical Cable Corporation (Nasdaq GM: OCC) will announce its second quarter results for fiscal year 2022 on June 13, 2022. This will cover the three- and six-month periods ended April 30, 2022. A conference call is scheduled for 10:00 a.m. Eastern Time on the same day, where analysts and investors can engage in Q&A. Participants can dial in at (800) 909-7113 (U.S.) or (785) 424-1677 (internationally) with the Conference ID: OCCQ222. A replay will be available until June 20, 2022.
Optical Cable Corporation (OCC) reported a 21.6% increase in net sales, totaling $14.4 million for Q1 2022, up from $11.9 million in Q1 2021. Gross profit surged 75.2% to $4.0 million, with a gross profit margin rising to 28.0%. However, the company faced a net loss of $936,000 ($0.12 per share), compared to a $2.1 million loss in the previous year. Increased SG&A expenses, reaching $4.8 million, primarily stemmed from personnel costs. OCC's backlog remains strong, indicating solid future demand despite ongoing supply chain challenges.
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