$OCC
OPTICAL CABLE CORP

2021 Q2 Form 10-Q Financial Statement

#000143774921014672 Filed on June 14, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $15.74M $14.86M
YoY Change 5.91% -21.59%
Cost Of Revenue $10.92M $10.87M
YoY Change 0.51% -20.38%
Gross Profit $4.819M $3.997M
YoY Change 20.58% -24.72%
Gross Profit Margin 30.62% 26.89%
Selling, General & Admin $4.590M $5.550M
YoY Change -17.3% -3.93%
% of Gross Profit 95.24% 138.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $320.9K $390.0K
YoY Change -17.71% -9.3%
% of Gross Profit 6.66% 9.76%
Operating Expenses $4.590M $5.550M
YoY Change -17.3% -3.93%
Operating Profit $261.4K -$1.560M
YoY Change -116.75% 228.19%
Interest Expense $181.0K $124.8K
YoY Change 45.03% -3.48%
% of Operating Profit 69.23%
Other Income/Expense, Net $3.130M -$123.7K
YoY Change -2629.99% -9.51%
Pretax Income $3.392M -$1.684M
YoY Change -301.4% 175.1%
Income Tax $6.616K $5.051K
% Of Pretax Income 0.2%
Net Earnings $3.385M -$1.689M
YoY Change -300.4% 173.58%
Net Earnings / Revenue 21.51% -11.36%
Basic Earnings Per Share $0.45
Diluted Earnings Per Share $449.2K -$229.9K
COMMON SHARES
Basic Shares Outstanding 7.536M 7.540M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $361.0K $4.290M
YoY Change -91.59% 1283.87%
Cash & Equivalents $360.9K $4.295M
Short-Term Investments
Other Short-Term Assets $365.4K $230.0K
YoY Change 58.85% -46.51%
Inventory $16.83M $17.04M
Prepaid Expenses
Receivables $8.637M $7.756M
Other Receivables $3.467M $120.0K
Total Short-Term Assets $29.66M $29.44M
YoY Change 0.75% -10.11%
LONG-TERM ASSETS
Property, Plant & Equipment $8.368M $9.343M
YoY Change -10.44% -13.33%
Goodwill
YoY Change
Intangibles $658.5K $661.9K
YoY Change -0.52% -0.4%
Long-Term Investments
YoY Change
Other Assets $1.788M $1.523M
YoY Change 17.39% 1529.92%
Total Long-Term Assets $10.81M $11.53M
YoY Change -6.19% -0.51%
TOTAL ASSETS
Total Short-Term Assets $29.66M $29.44M
Total Long-Term Assets $10.81M $11.53M
Total Assets $40.48M $40.97M
YoY Change -1.21% -7.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.028M $4.560M
YoY Change -11.67% -44.59%
Accrued Expenses $2.164M $1.810M
YoY Change 19.56% 8.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $6.000M
YoY Change -100.0%
Long-Term Debt Due $292.1K $305.6K
YoY Change -4.42% 15.1%
Total Short-Term Liabilities $11.48M $14.33M
YoY Change -19.85% 40.57%
LONG-TERM LIABILITIES
Long-Term Debt $4.692M $5.011M
YoY Change -6.35% -16.83%
Other Long-Term Liabilities $1.719M $1.269M
YoY Change 35.44% 1729.1%
Total Long-Term Liabilities $6.411M $6.280M
YoY Change 2.09% 3.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.48M $14.33M
Total Long-Term Liabilities $6.411M $6.280M
Total Liabilities $23.83M $23.95M
YoY Change -0.51% 11.74%
SHAREHOLDERS EQUITY
Retained Earnings $2.501M $3.098M
YoY Change -19.25% -66.06%
Common Stock $14.14M $13.92M
YoY Change 1.61% 1.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.65M $17.02M
YoY Change
Total Liabilities & Shareholders Equity $40.48M $40.97M
YoY Change -1.21% -7.6%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $3.385M -$1.689M
YoY Change -300.4% 173.58%
Depreciation, Depletion And Amortization $320.9K $390.0K
YoY Change -17.71% -9.3%
Cash From Operating Activities -$921.9K -$1.360M
YoY Change -32.21% -294.29%
INVESTING ACTIVITIES
Capital Expenditures -$44.94K -$30.00K
YoY Change 49.8% -81.25%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$44.94K -$30.00K
YoY Change 49.8% -81.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 877.0K 5.000M
YoY Change -82.46% -857.58%
NET CHANGE
Cash From Operating Activities -921.9K -1.360M
Cash From Investing Activities -44.94K -30.00K
Cash From Financing Activities 877.0K 5.000M
Net Change In Cash -89.89K 3.610M
YoY Change -102.49% -3108.33%
FREE CASH FLOW
Cash From Operating Activities -$921.9K -$1.360M
Capital Expenditures -$44.94K -$30.00K
Free Cash Flow -$877.0K -$1.330M
YoY Change -34.06% -254.65%

Facts In Submission

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CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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360948 USD
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us-gaap Provision For Doubtful Accounts
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CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
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551622 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
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-81380 USD
CY2021Q2 us-gaap Inventory Finished Goods Net Of Reserves
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5102624 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
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4663978 USD
CY2021Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
3754777 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
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CY2021Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
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CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
8010794 USD
CY2021Q2 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
256814 USD
CY2020Q4 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
259706 USD
CY2021Q2 us-gaap Inventory Net
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16832611 USD
CY2020Q4 us-gaap Inventory Net
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17099767 USD
CY2021Q2 us-gaap Product Warranty Expense
ProductWarrantyExpense
37923 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
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CY2020Q2 us-gaap Product Warranty Expense
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us-gaap Product Warranty Expense
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CY2020Q4 us-gaap Product Warranty Accrual
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85000 USD
CY2019Q4 us-gaap Product Warranty Accrual
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120000 USD
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46271 USD
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46389 USD
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CY2021Q2 us-gaap Product Warranty Accrual
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95000 USD
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ProductWarrantyAccrual
85000 USD
CY2021Q2 us-gaap Long Term Debt
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4984526 USD
CY2020Q4 us-gaap Long Term Debt
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5165566 USD
CY2021Q2 us-gaap Long Term Debt Current
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292112 USD
CY2020Q4 us-gaap Long Term Debt Current
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312109 USD
CY2021Q2 us-gaap Long Term Debt Noncurrent
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4692414 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
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4853457 USD
CY2021Q2 us-gaap Operating Lease Expense
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100203 USD
us-gaap Operating Lease Expense
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200568 USD
CY2020Q2 us-gaap Operating Lease Expense
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98558 USD
us-gaap Operating Lease Expense
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194429 USD
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P40M21D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.050 pure
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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212364 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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432485 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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382716 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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331438 USD
CY2021Q2 occ Lesee Operating Lease Liability To Be Paid After Year Three
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55023 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
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1414026 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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117041 USD
CY2021Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
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us-gaap Operating Lease Payments
OperatingLeasePayments
194974 USD
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
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us-gaap Operating Lease Payments
OperatingLeasePayments
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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208390 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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1462817 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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27617687 USD
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27750824 USD
CY2021Q2 occ Employee Tax Retention Credit
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3375815 USD
CY2021Q2 us-gaap Net Income Loss
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3385159 USD
CY2020Q2 us-gaap Net Income Loss
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-1689181 USD
us-gaap Net Income Loss
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1243679 USD
us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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7536116
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7350427
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7536121
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7351897
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
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0.45
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
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-0.23
us-gaap Earnings Per Share Basic And Diluted
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0.17
us-gaap Earnings Per Share Basic And Diluted
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-0.58
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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105645
CY2021Q2 us-gaap Contract With Customer Liability
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64138 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
63283 USD
CY2021Q2 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
110110 USD
CY2020Q4 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
119989 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
15741114 USD

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