Core Viewpoint - Optical Cable Corporation (OCC) reported a strong fourth quarter for fiscal year 2024, with significant increases in net sales and gross profit, despite facing challenges in the overall market environment [7][26]. Financial Performance - Consolidated net sales for Q4 FY 2024 increased by 12.4% to $19.5 million, compared to $17.3 million in Q4 FY 2023 [2]. - Sequentially, net sales rose by 20.1% in Q4 FY 2024 compared to Q3 FY 2024, marking a consistent increase in net sales each quarter since Q1 FY 2024 [2]. - Gross profit for Q4 FY 2024 was $6.5 million, a 68.6% increase from $3.9 million in Q4 FY 2023, attributed to production efficiencies and increased volumes [15]. - Gross profit margin for Q4 FY 2024 was 33.5%, up from 22.4% in Q4 FY 2023 [3]. - For the full fiscal year 2024, consolidated net sales were $66.7 million, a decrease of 7.6% from $72.2 million in FY 2023 [4]. - Gross profit for FY 2024 was $18.2 million, down 18.3% from $22.3 million in FY 2023, with a gross profit margin of 27.3% compared to 30.9% in FY 2023 [5]. Income and Expenses - OCC recorded a net income of $373,000, or $0.05 per share, in Q4 FY 2024, compared to a net loss of $1.3 million, or $0.17 per share, in Q4 FY 2023 [4]. - For FY 2024, the company reported a net loss of $4.2 million, or $0.54 per share, compared to a net income of $2.1 million, or $0.26 per share, in FY 2023 [6]. - Selling, General and Administrative (SG&A) expenses for Q4 FY 2024 were $5.9 million, up from $5.1 million in Q4 FY 2023, representing 30.0% of net sales [16]. - For FY 2024, SG&A expenses increased by 1.3% to $21.5 million, accounting for 32.2% of net sales compared to 29.4% in FY 2023 [18]. Management Insights - The CEO expressed pride in the team's efforts to identify growth opportunities and emphasized the company's commitment to serving customers with mission-critical solutions [8]. - Management is optimistic about the prospects for FY 2025, noting signs of recovery in the industry after a prolonged period of market weakness [26].

Core Viewpoint - Optical Cable Corporation (OCC) is set to release its fourth quarter and fiscal year 2024 results on December 23, 2024, and will host a conference call to discuss these results [1][2]. Company Information - OCC is a leading manufacturer of fiber optic and copper data communication cabling and connectivity solutions, primarily serving the enterprise market and various specialty markets [4][6]. - The company is recognized for its innovative technologies in fiber optic and copper communications, offering a broad range of products designed for demanding environments [5][6]. - OCC's solutions cater to various applications, including commercial, enterprise networks, data centers, and specialized environments such as military and industrial sectors [6]. Conference Call Details - The conference call will take place on December 23, 2024, at 10:30 a.m. Eastern Time, with participation options for both U.S. and international callers [1][2]. - A replay of the call will be available until December 30, 2024, and it will also be broadcast live on the company's website [2]. Investor Engagement - OCC encourages analysts and fund investors to ask questions during the conference call and invites individual investors to submit questions in advance [3].

Core Points - Lake Shore Savings Bank received a termination notice for the Consent Order from the Office of the Comptroller of the Currency (OCC), indicating that the bank has addressed deficiencies in various operational areas [1] - The OCC also lifted the "Troubled Condition" status of the bank, reflecting improvements in its operational compliance [1] - Kim C. Liddell, the President and CEO, emphasized the team's rapid progress in remediation efforts and their commitment to serving customers and communities [2] Company Overview - Lake Shore Bancorp, Inc. is the mid-tier holding company for Lake Shore Savings Bank, which is a federally chartered financial institution based in Dunkirk, New York [2] - The bank operates ten full-service branches in Western New York, providing a range of retail and commercial lending and deposit services [2] - The company's common stock is traded on the NASDAQ Global Market under the ticker symbol "LSBK" [2]

About this content About Susanna Nelson Susanna is a journalist and editor with nearly two decades of experience writing about a broad range of topics including infrastructure, health, building and construction, economics and the arts. She has a natural curiosity, which helps when she's interviewing business leaders, politicians, film and television personalities, medical experts and Australians of the Year. She edits widely, across magazines, commentary, corporate regulatory publications and fiction.   ...

Citigroup Inc. (C) continues to struggle with fixing its regulatory problems. United States Senator, Elizabeth Warren, urged the Office of the Comptroller of the Currency ("OCC") to impose growth limitations on the company. This was first reported by Reuters on Thursday. Citigroup's continued problems with data, controls and management are evidence of the fact that the bank has become "too big to manage," and therefore, it should be subjected to constraints, argued Senator Warren in a letter to Acting Compt ...

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Exhibit 99.1 Neil Wilkin Tracy Smith Chairman, President & CEO Senior Vice President & CFO (540) 265-0690 (540) 265-0690 investorrelations@occfiber.com investorrelations@occfiber.com Aaron Palash Spencer Hoffman (212) 355-4449 ext. 8603 (212) 355-4449 ext. 8928 occ-jfwbk@joelefrank.com occ-jfwbk@joelefrank.com AT THE COMPANY: OPTICAL CABLE CORPORATION 5290 Concourse Drive Roanoke, VA 24019 (Nasdaq GM: OCC) www.occfiber.com AT JOELE FRANK, WILKINSON BRIMMER KATCHER: FOR IMMEDIATE RELEASE OPTICAL CABLE CORPOR ...

Optical Cable Corporation (NASDAQ:OCC) Q3 2024 Earnings Conference Call September 11, 2024 10:30 AM ET Company Participants Spencer Hoffman - Director, Joele Frank, Wilkinson Brimmer Katcher, IR Neil D. Wilkin - Chairman, President and CEO Tracy G. Smith - SVP and CFO Conference Call Participants Operator My name is Jim, and I'll be your conference operator today. At this time, I would like to welcome you to Optical Cable Corporation's Third Quarter and Fiscal Year 2024 Earnings Conference Call. All lines h ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |----------------------------------------------------------------|------------------------------------------------------------------------------------------|------ ...

Exhibit 99.1 AT THE COMPANY: Neil Wilkin Tracy Smith Chairman, President & CEO Senior Vice President & CFO (540) 265-0690 (540) 265-0690 OPTICAL CABLE CORPORATION 5290 Concourse Drive Roanoke, VA 24019 (Nasdaq GM: OCC) www.occfiber.com investorrelations@occfiber.com investorrelations@occfiber.com AT JOELE FRANK, WILKINSON BRIMMER KATCHER: Aaron Palash Spencer Hoffman (212) 355-4449 ext. 8603 (212) 355-4449 ext. 8928 occ-jfwbk@joelefrank.com occ-jfwbk@joelefrank.com FOR IMMEDIATE RELEASE While production vol ...