Optical Cable Corporation (NASDAQ:OCC) Q4 2020 Earnings Conference Call December 21, 2020 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 Operator Good morning. My name is Nicole, and I will be your conference operator today. At this time, I would like to welcome you to the Optical Cable Corporation Fourth Quarter and Full-Year 2020 Earnings Conference Call. All lines have b ...

Optical Cable Corporation (NASDAQ:OCC) Q3 2020 Earnings Conference Call September 10, 2020 10:00 AM ET Company Participants Aaron Palash - Joele Frank, Wilkinson, Brimmer, Katcher, Managing Director Neil Wilkin - President & Chief Executive Officer Tracy Smith - Senior Vice President & Chief Financial Officer Conference Call Participants Operator Good morning. My name is Maria, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Optical Cable Corporation Third Q ...

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, 2020 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) Virginia ...

Financial Performance - Consolidated net sales for Q2 FY2020 were $14.9 million, down 21.6% from $19.0 million in the same period last year, but up 15.3% sequentially from $12.9 million in Q1 FY2020[112]. - Consolidated net sales for Q2 FY2020 were $14.9 million, a decrease of 21.6% compared to $19.0 million in Q2 FY2019[122]. - For the first half of FY2020, consolidated net sales decreased 22.3% to $27.8 million from $35.7 million in the same period last year[142]. - Net sales to customers in the U.S. decreased 23.3% in Q2 FY2020, primarily due to a $2.9 million decrease in sales to one domestic customer[127]. - Gross profit was $4.0 million in Q2 FY2020, down 24.7% from $5.3 million in Q2 FY2019, with a gross profit margin of 26.9%[120][128]. - Gross profit for the first half of FY2020 was $6.4 million, a decrease of 27.9% compared to $8.9 million in the first half of FY2019, with a gross profit margin of 23.1%[144]. - Net loss for Q2 FY2020 was $1.7 million, or $0.23 per share, compared to a net loss of $617,000, or $0.08 per share, in Q2 FY2019[120][141]. - Net loss for the first half of fiscal year 2020 was $4.3 million, an increase from a net loss of $3.9 million in the same period of fiscal year 2019[159]. COVID-19 Impact - The company experienced negative impacts on revenues, production volumes, and access to capital due to the COVID-19 pandemic[99]. - The company operates under "Defense Industrial Base Essential Critical Infrastructure Workforce" guidelines, allowing continued operations during the pandemic[98]. - The company has implemented strict health protocols, including social distancing and remote work for non-manufacturing employees, to mitigate COVID-19 risks[101]. - The company’s facilities continue to operate at reduced production levels as of April 30, 2020[100]. - Future net sales may be impacted by ongoing developments related to the COVID-19 pandemic, with uncertainty regarding the duration and severity of the outbreak[105]. Expenses and Liabilities - SG&A expenses decreased 3.9% to $5.5 million in Q2 FY2020, compared to $5.8 million in Q2 FY2019, representing 37.3% of net sales[121][131]. - SG&A expenses for the first half of FY2020 decreased 17.3% to $10.4 million from $12.6 million in the same period last year[147]. - Total liabilities increased by $5.1 million, or 26.9%, to $24.0 million as of April 30, 2020, mainly due to a $5.0 million PPP Loan[161]. Cash Flow and Financing - Cash totaled $4.3 million as of April 30, 2020, an increase of $3.8 million compared to $537,000 as of October 31, 2019[164]. - Net cash used in operating activities was $816,000 in the first half of fiscal year 2020, compared to $451,000 in the same period of fiscal year 2019[167]. - Net cash provided by financing activities totaled $4.7 million in the first half of fiscal year 2020, compared to $1.1 million in the same period of fiscal year 2019[170]. - The company obtained a Paycheck Protection Program loan of $5.0 million on April 15, 2020, under the CARES Act[120]. - The company obtained an unsecured PPP Loan of $5.0 million with a fixed interest rate of 1.00% per year, which may be forgiven under certain conditions[177]. Assets and Equity - Total assets increased by $864,000, or 2.2%, to $41.0 million as of April 30, 2020, primarily due to a $3.8 million increase in cash[160]. - Total shareholders' equity decreased by $4.2 million in the first half of fiscal year 2020, primarily due to the net loss of $4.3 million[162]. - The ratio of current assets to current liabilities was 2.1 to 1.0 as of April 30, 2020, down from 2.2 to 1.0 as of October 31, 2019[165]. Operational Insights - The company’s product offerings include fiber optic and copper cabling, hybrid cabling, and various connectivity solutions for enterprise and specialty markets[106]. - The company is recognized for pioneering fiber optic cables for military applications and innovative copper connectivity technology[107]. - The company’s sales are affected by fluctuations in exchange rates and the timing of large orders from international customers[114]. - The company typically expects net sales to be lower in the first half of the fiscal year and higher in the second half, with historical averages of approximately 50% of total net sales occurring in the first half[190][191]. - The company has a Repurchase Plan approved to purchase up to 400,000 shares of common stock, with 398,400 shares remaining to purchase as of April 30, 2020[171]. Future Outlook - The company anticipates capital expenditures of $1.5 million for the fiscal year, which will be funded from working capital or borrowings[185]. - The company believes its future cash flow from operations and existing credit facilities will be adequate to fund operations for at least the next twelve months[187]. - The company was in compliance with all material covenants of the Credit Agreement as of April 30, 2020, except for two financial covenants suspended through that date[183]. - The company is currently evaluating the impact of the adoption of ASU 2019-12 on its results of operations and financial position[194]. - The Revolver is secured by a perfected first lien security interest on all assets, including accounts and inventory[182]. - The Revolver is set to expire on June 30, 2020, and the company is seeking alternative financing sources[184]. - The company has not made any material commitments for capital expenditures as of April 30, 2020, and historically has spent less than budgeted[185].

Optical Cable Corporation (NASDAQ:OCC) Q2 2020 Earnings Conference Call June 12, 2020 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 Operator Good morning. My name is Christie and I will be the conference operator today. At this time, I would like to welcome everyone to the Optical Cable Corporation Second Quarter 2020 Earnings Conference Call. All lines have been placed on ...

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, 2020 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) Q1 2020 Earnings Conference Call March 16, 2020 10:00 AM ET Company Participants Aaron Palash - Investor Relations Neil Wilkin - President & Chief Executive Officer Tracy Smith - Senior Vice President & Chief Financial Officer Conference Call Participants Operator Good morning. My name is Cia and I will be the conference operator today. At this time I would like to welcome everyone to the Optical Cable Quarter 1 2020 Earnings Conference Call. All lines have been placed ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________________________ Form 10-K ________________________________________________ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 31, 2019 (540) 265-0690 (Registrant's telephone number, including area code) ________________________________________________ Securities registered pursuant to Section 12(b) of the Act: Title of ...

Optical Cable Corporation (NASDAQ:OCC) Q4 2019 Earnings Conference Call January 27, 2020 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 Maria, and I'll be your conference operator today. At this time, I would like to welcome you to the Optical Cable Corporation Fourth Quarter and Fiscal Year 2019 Earnings Conference Call. [Operator Instructions] Thank you. Mr. Palash, you may begin yo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2019 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) (S ...