Optical Cable Stock Price, News & Analysis

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.