Optical Cable (OCC) - 2024 Q4 - Annual Results

Financial Performance - Q4 2024 - Consolidated net sales for Q4 2024 increased 12.4% to $19.5 million, compared to$ 17.3 million in Q4 2023[6] - Gross profit for Q4 2024 rose 68.6% to $6.5 million, with a gross profit margin of 33.5%, up from 22.4% in Q4 2023[3][7] - SG&A expenses in Q4 2024 were$ 5.9 million, representing 30.0% of net sales, compared to $5.1 million and 29.7% in Q4 2023[8] - OCC recorded a net income of$ 373,000, or $0.05 per share, compared to a net loss of$ 1.3 million, or $0.17 per share, in Q4 2023[9] Financial Performance - Fiscal Year 2024 - For fiscal year 2024, consolidated net sales were$ 66.7 million, a decrease of 7.6% from $72.2 million in fiscal year 2023[10] - Gross profit for fiscal year 2024 was$ 18.2 million, down 18.3% from $22.3 million in fiscal year 2023, with a gross profit margin of 27.3%[12] - SG&A expenses for fiscal year 2024 increased 1.3% to$ 21.5 million, representing 32.2% of net sales, compared to 29.4% in fiscal year 2023[13] - OCC experienced a net loss of $4.2 million for fiscal year 2024, compared to net income of$ 2.1 million in fiscal year 2023[14] Future Outlook - Management expressed optimism for fiscal year 2025, indicating signs of recovery from market weakness and potential growth opportunities[16] - The company has achieved higher sequential net sales each quarter since Q1 2024, indicating a positive trend moving forward[6]