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 (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.
Optical Cable Corporation (Nasdaq GM: OCC) will release its first quarter fiscal year 2022 results on March 17, 2022, covering the period ending January 31, 2022. A conference call will take place at 10:00 a.m. Eastern Time for analysts and investors, with dial-in details provided. OCC, a manufacturer of fiber optic and copper cabling solutions, has facilities in Roanoke, Virginia, Asheville, North Carolina, and Dallas, Texas. The company invites individual investors to submit questions in advance for discussion during the call.
Optical Cable Corporation (OCC) reported a 14.4% increase in fourth quarter net sales, reaching $15.9 million, compared to $13.9 million last year. Gross profit rose 20.0% to $5.1 million, with a gross profit margin increase to 31.8%. For fiscal year 2021, net sales increased 7.0% to $59.1 million, with a net income of $6.6 million, a turnaround from a loss in the previous year. OCC benefitted from a $5.0 million gain on debt extinguishment and $4.3 million from employee retention tax credits, fostering optimism for future growth.
Optical Cable Corporation (OCC) will release its fourth quarter and fiscal year 2021 results on December 20, 2021, after the three-month and twelve-month periods ending October 31, 2021. A conference call will occur at 10:00 a.m. Eastern Time on the same day, allowing analysts and investors to participate by phone or online. OCC manufactures diverse fiber optic and copper cabling solutions for various markets, boasting facilities that are ISO certified. Further details are available on their investor relations website.
Optical Cable Corporation (Nasdaq GM: OCC) reported a 14.6% increase in consolidated net sales for Q3 2021, reaching $15.6 million compared to $13.6 million in Q3 2020. The gross profit also grew by 17.8% to $4.1 million. Net income shifted to $5.4 million or $0.71 per share, contrasting sharply with a $1.4 million loss in the prior year. Factors contributing to this growth included lifting COVID-19 restrictions and an increase in sales order backlog.
On September 9, 2021, Optical Cable Corporation (Nasdaq GM: OCC) announced it will release its third quarter fiscal year 2021 results on September 13, 2021. These results will cover the three-month and nine-month periods ending on July 31, 2021. A conference call will be held on the same day at 10:00 a.m. Eastern Time, with participation options for U.S. and international callers. A replay will be accessible until September 20, 2021. OCC specializes in fiber optic and copper data communication cabling and solutions for various markets.
Optical Cable Corporation (Nasdaq: OCC) reported a 5.9% increase in net sales for Q2 2021, totaling $15.7 million, driven by growth in enterprise and specialty markets. The gross profit also rose by 20.6% to $4.8 million, resulting in a 30.6% gross profit margin. OCC achieved net income of $3.4 million, or $0.45 per share, a turnaround from a net loss of $1.7 million in Q2 2020. SG&A expenses decreased 17.3% to $4.6 million. The company benefited from employee retention tax credits totaling $3.4 million.
Optical Cable Corporation (Nasdaq GM: OCC) will release its second-quarter fiscal year 2021 results on June 14, 2021. The results will cover the three and six-month periods ending April 30, 2021. A conference call will be hosted on the same day at 10:00 a.m. Eastern Time.
Participants can join by calling (866) 610-1072 or (973) 935-2840 internationally. A replay will be available until June 21, 2021. OCC specializes in fiber optic and copper data communication solutions for enterprise and specialty markets.
Optical Cable Corporation (Nasdaq GM: OCC) announced on May 17, 2021, a contract award exceeding $1.0 million to supply proprietary products to a major defense contractor for the U.S. Department of Defense. Manufacturing is set to commence in the fiscal third quarter of 2021 and continue through the year. CEO Neil Wilkin emphasized OCC's commitment to supporting the military with innovative technologies. Founded in 1983, OCC specializes in fiber optic and copper data communication solutions, recognized for high-quality products tailored for various harsh environments.
Optical Cable Corporation (NASDAQ GM: OCC) has signed a long-term cross-license agreement with CommScope, covering copper data communication connectivity patents and in-building wireless patents. This partnership builds on their previous 2004 agreement and enhances both companies' access to advanced technologies. Leaders from both firms expressed confidence that this agreement will benefit customers and shareholders. OCC, known for its innovative cabling solutions since 1983, aims to meet critical communication needs across various industries.
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