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), traded on the Nasdaq Global Market under the symbol OCC, is a manufacturer of fiber optic and copper data communication cabling and connectivity solutions. The company regularly issues detailed press releases on its quarterly and annual financial results, making its news flow relevant for investors tracking revenue trends, margins and overall operating performance in the communications cabling space.
News about OCC often centers on its financial results for each quarter of its fiscal year, including net sales, gross profit, gross profit margin, selling, general and administrative expenses, and net income or loss. These releases frequently distinguish between enterprise and specialty markets, and between customers in the United States and outside the United States, providing insight into demand patterns across its served markets.
Another recurring news theme is OCC’s commentary on market conditions and operating leverage. Management has discussed the impact of macroeconomic pressures, periods of market weakness in its industry, and subsequent general market improvement, including strength in its military and severe duty markets. The company also reports on order backlog or forward load at various quarter-ends, which can be useful for understanding near-term demand visibility.
In addition to earnings-related updates, OCC’s news includes corporate developments such as its strategic collaboration with Lightera, LLC. The company has described this relationship as a way to expand product offerings and integrated cabling and connectivity solutions, particularly for the data center and enterprise sectors, supported by a related equity investment by Lightera.
Investors and analysts following OCC’s news can expect coverage of earnings releases, conference call announcements, strategic agreements, and other material events that the company discloses through press releases and SEC-referenced communications.
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.
Optical Cable Corporation (Nasdaq GM: OCC) reported a 7.8% decline in consolidated net sales for Q1 2021, totaling $11.9 million, due to ongoing economic impacts from COVID-19. Gross profit decreased by 3.9% to $2.3 million, while gross profit margin improved to 19.4%. SG&A expenses decreased 10.7% to $4.3 million. The company incurred a net loss of $2.1 million, or $0.29 per share, an improvement from a $2.6 million loss in Q1 2020. OCC remains focused on capturing growth opportunities despite the pandemic's challenges.
Optical Cable Corporation (Nasdaq: OCC) will release its fiscal Q1 2021 results on March 15, 2021, covering the period ended January 31, 2021. A conference call will follow at 10:00 a.m. ET to discuss the results. Interested participants can join via phone or access the call online. OCC specializes in manufacturing fiber optic and copper data communication cables for various industries. The company is recognized for its innovative products and commitment to quality and reliability.
Optical Cable Corporation (Nasdaq GM: OCC) reported a 22.5% decline in consolidated net sales for fiscal year 2020, totaling $55.3 million, down from $71.3 million in 2019, largely due to the COVID-19 pandemic. The company's gross profit fell by 23.0% to $14.1 million, with a gross profit margin of 25.5%. Despite a net loss of $6.1 million or $0.83 per share, OCC's fourth-quarter gross profit margin improved to 30.3%. The company successfully reduced SG&A expenses by 17.9%, totaling $19.2 million for the year.
Optical Cable Corporation (Nasdaq GM: OCC) will release its fourth quarter and fiscal year 2020 results on December 21, 2020. These results cover the three-month and twelve-month periods ending October 31, 2020. A conference call is scheduled for 10:00 a.m. Eastern Time on the same day, during which analysts and investors can ask questions. Interested parties can participate by calling designated numbers or via the company's website.
Optical Cable Corporation (Nasdaq: OCC) reported a challenging third quarter ending July 31, 2020, with consolidated net sales of $13.6 million, down 21.5% from $17.4 million a year ago, largely due to the impact of COVID-19. Gross profit also fell by 22.7% to $3.5 million, resulting in a gross profit margin of 25.5%. The company incurred a net loss of $1.4 million, or $0.20 per share, compared to a loss of $1.1 million last year. Year-to-date, total sales dropped 22.0% to $41.4 million. OCC refinanced its credit facility, securing $18 million for working capital needs.
Optical Cable Corporation (Nasdaq GM: OCC) will release its third quarter results for fiscal year 2020 on September 10, 2020, covering the periods ending July 31, 2020. A conference call will be held on the same day at 10:00 a.m. Eastern Time for analysts and investors to discuss the results. Interested participants can join via a dedicated phone line or listen online at www.occfiber.com. A replay will be available until September 17, 2020.