Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-K 5290 Concourse Drive, Roanoke, VA 24019 (Address of principal executive offices) (Zip Code) (540) 265-0690 (Registrant's telephone number, including area code) Commission File Number 0-27022 OPTICAL CABLE CORPORATION (Exact name of the registrant as specified in its charter) Virginia 54-1237042 (State or other jurisdiction of incorporation or organization) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF TH ...

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, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________ Commission file number 0-27022 OPTICAL CABLE CORPORATION (Exact name of registrant as specified in its charter) (State o ...

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 April 30, 2023 Commission file number 0-27022 OPTICAL CABLE CORPORATION (Exact name of registrant as specified in its charter) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________ Virgini ...

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 January 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________ Commission file number 0-27022 OPTICAL CABLE CORPORATION (Exact name of registrant as specified in its charter) Virgi ...

Optical Cable Corporation (NASDAQ:OCC) Q4 2022 Earnings Conference Call December 22, 2022 10:00 AM ET Company Participants Aaron Palash - Investor Relations Neil Wilkin - Chairman, President and Chief Executive Officer Tracy Smith - Senior Vice President and Chief Financial Officer Conference Call Participants Michael Jones - WCM Global Wealth Operator Good morning. My name is Chelsea, and I will be your conference operator today. At this time, I would like to welcome you to the Optical Cable Corporation Fo ...

Optical Cable Corporation (NASDAQ:OCC) Q3 2022 Earnings Conference Call September 12, 2022 10:00 AM ET Company Participants Aaron Palash - Investor Relations Neil Wilkin - President and Chief Executive Officer Tracy Smith - Senior Vice President and Chief Financial Officer Conference Call Participants Michael Jones - WCM Global Wealth Operator Good morning. My name is Katie and I will be your conference operator today. At this time, I would like to welcome you to the Optical Cable Corporation Third Quarter ...

OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________ Commission file number 0-27022 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, 2022 OPTICAL CABLE CORPORATION (Exact name of registrant as specified in its charter) Virginia ...

Optical Cable Corporation (NASDAQ:OCC) Q2 2022 Earnings Conference Call June 13, 2022 10:00 AM ET Company Participants Aaron Palash - IR Neil Wilkin - President and CEO Tracy Smith - SVP and CFO Conference Call Participants Operator Good morning. My name is Gregson, and I will be your conference operator today. At this time, I would like to welcome you to the Optical Cable Corporation Second Quarter 2022 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the ...

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The unaudited statements show increased assets and liabilities, a Q2 net loss, and negative operating cash flow for H1 2022 [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets grew to $41.8 million and liabilities rose to $20.6 million, resulting in a decrease in shareholders' equity to $21.2 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | April 30, 2022 | October 31, 2021 | | :--- | :--- | :--- | | **Total current assets** | $32,068.6 | $27,565.9 | | **Total assets** | $41,779.1 | $37,916.5 | | **Total current liabilities** | $8,429.8 | $6,167.6 | | **Total liabilities** | $20,603.9 | $15,710.6 | | **Total shareholders' equity** | $21,175.2 | $22,206.0 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Net sales increased for the quarter and six-month period, but the company reported net losses due to the absence of a prior-year one-time income item Key Performance Indicators (in thousands, except per share data) | Metric | Q2 2022 | Q2 2021 | H1 2022 | H1 2021 | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $17,200.6 | $15,741.1 | $31,640.9 | $27,617.7 | | **Gross profit** | $5,033.4 | $4,819.2 | $9,079.3 | $7,128.6 | | **Income (loss) from operations** | $(21.0) | $261.4 | $(774.4) | $(1,741.0) | | **Net income (loss)** | $(228.0) | $3,385.2 | $(1,163.8) | $1,243.7 | | **Net income (loss) per share** | $(0.03) | $0.45 | $(0.16) | $0.17 | [Condensed Consolidated Statements of Shareholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Shareholders'%20Equity) Shareholders' equity decreased to $21.2 million in the six-month period, primarily driven by a net loss of $1.2 million Changes in Shareholders' Equity (Six Months Ended April 30, 2022) | Description | Amount (in thousands) | | :--- | :--- | | **Beginning Balance (Oct 31, 2021)** | $22,206.0 | | Share-based compensation, net | $133.0 | | Net loss | $(1,163.8) | | **Ending Balance (Apr 30, 2022)** | $21,175.2 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations was $3.0 million, offset by $3.2 million from financing activities, resulting in a slight increase in the company's cash position Summary of Cash Flows (Six Months Ended April 30, in thousands) | Category | 2022 | 2021 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(3,028.0) | $(391.9) | | **Net cash used in investing activities** | $(112.0) | $(104.9) | | **Net cash provided by financing activities** | $3,246.8 | $717.0 | | **Net increase in cash** | $106.8 | $220.1 | | **Cash at end of period** | $239.0 | $360.9 | [Condensed Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Condensed%20Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail a stock plan amendment, customer concentration, the impact of a prior-year tax credit, and ongoing pandemic-related risks - Shareholders approved an amendment to the 2017 Stock Incentive Plan, adding **350,000 common shares** for issuance[21](index=21&type=chunk) - As of April 30, 2022, the company had **$7.0 million in outstanding borrowings** on its Revolver credit facility and **$3.3 million in available credit**[41](index=41&type=chunk) - One national distributor customer accounted for **17.1% of consolidated net sales** for the six months ended April 30, 2022[60](index=60&type=chunk) - The company qualified for a total of **$4.34 million in Employee Retention Tax Credits (ERTC)** in fiscal 2021, with a **$2.16 million receivable** collected post-period[74](index=74&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=18&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses revenue growth driven by demand, margin pressure from inflation, and the impact of a non-recurring tax credit on net income [Overview of COVID-19 Effects](index=20&type=section&id=Overview%20of%20COVID-19%20Effects) Robust demand and a high sales backlog are offset by significant supply chain and labor constraints, though all facilities remain operational - Sales order backlog and product demand remain robust, but the company faces significant supply chain and labor challenges, leading to longer product lead times and constrained production volumes[88](index=88&type=chunk) - The company's workforce is classified as a "Defense Industrial Base Essential Critical Infrastructure Workforce," allowing all three facilities to remain open and operational throughout the pandemic[89](index=89&type=chunk) [Results of Operations](index=23&type=section&id=Results%20of%20Operations) Net sales grew for the quarter and six-month period, but gross margin was pressured by inflation, and net income was negatively impacted by a non-recurring tax credit Comparison of Operating Results (in thousands) | Metric | Q2 2022 | Q2 2021 | % Change | H1 2022 | H1 2021 | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $17,201 | $15,741 | 9.3% | $31,641 | $27,618 | 14.6% | | **Gross profit** | $5,033 | $4,819 | 4.4% | $9,079 | $7,129 | 27.4% | | **SG&A expenses** | $5,036 | $4,590 | 9.7% | $9,817 | $8,898 | 10.3% | | **Net income (loss)** | $(228) | $3,385 | (106.7)% | $(1,164) | $1,244 | (193.6)% | - The decrease in net income for Q2 and H1 2022 compared to 2021 was primarily due to the recognition of a **$3.4 million Employee Retention Tax Credit (ERTC)** as other income in Q2 2021, which did not recur in 2022[125](index=125&type=chunk)[129](index=129&type=chunk)[147](index=147&type=chunk) - The gross profit margin for Q2 2022 decreased to **29.3% from 30.6%** year-over-year, mainly due to rapid inflation increasing raw material costs for orders accepted before the cost hikes[118](index=118&type=chunk) [Financial Condition, Liquidity and Capital Resources](index=30&type=section&id=Financial%20Condition,%20Liquidity%20and%20Capital%20Resources) Assets and liabilities increased due to higher inventory and revolver borrowings, while cash from financing offset cash used in operations - Total assets increased by **10.2% to $41.8 million**, primarily due to a **$2.3 million increase in inventories** and a **$2.2 million increase in trade accounts receivable**[158](index=158&type=chunk) - Total liabilities increased by **31.1% to $20.6 million**, mainly due to a **$3.6 million increase in net borrowings** on the Revolver and a **$2.0 million increase in accounts payable**[159](index=159&type=chunk) - Net cash used in operating activities was **$3.0 million** for the first half of fiscal 2022, compared to **$392,000** in the prior year period, largely due to increases in inventory and accounts receivable[165](index=165&type=chunk) - As of April 30, 2022, the company had **$7.0 million of outstanding borrowings** on its Revolver and **$3.3 million in available credit**[177](index=177&type=chunk) [Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal controls during the quarter - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were **effective** as of the end of the period, April 30, 2022[189](index=189&type=chunk) - There were **no changes** in the company's internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, these controls[189](index=189&type=chunk) [PART II. OTHER INFORMATION](index=35&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Exhibits](index=35&type=section&id=Item%206.%20Exhibits) This section indexes all exhibits filed with the report, including governance documents, agreements, and required officer certifications - The report includes certifications from the Chief Executive Officer and Chief Financial Officer pursuant to **Sections 302 and 906 of the Sarbanes-Oxley Act of 2002**[199](index=199&type=chunk)[202](index=202&type=chunk) - Financial statements and notes are provided in **iXBRL format** as part of the filing[202](index=202&type=chunk) [Signatures](index=40&type=section&id=SIGNATURES) The report was duly signed and authorized by the CEO and CFO on June 13, 2022 - The Form 10-Q was signed on **June 13, 2022**, by Neil D. Wilkin, Jr. (CEO) and Tracy G. Smith (CFO)[204](index=204&type=chunk)

Optical Cable Corporation (NASDAQ:OCC) Q1 2022 Results Conference Call March 17, 2022 10:00 AM ET Company Participants Aaron Palash - IR Neil Wilkin - President and CEO Tracy Smith - SVP and CFO Operator Good morning. My name is Reid, and I will be your conference operator today. At this time, I would like to welcome you to the Optical Cable Corporation’s First Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note, today’s call may be recorded. [Operator Instructions] Mr. Palash, you ma ...