Optical Cable Corp. Reports Profit In Q3; Net Sales Down 2.5%

(RTTNews) - Optical Cable Corp. (OCC) reported third quarter net income of $101 thousand or $0.01 per share, compared to a net loss of $372 thousand, or $0.05 per share, prior year. Gross profit increased 6.4% to $5.1 million.

The company noted that, in addition to improved sales and gross profit, the results reflect the gain on additional insurance proceeds received during the third quarter of fiscal 2023 for damage to property and equipment totaling $256 thousand.

Third quarter consolidated net sales decreased 2.5% to $16.9 million, compared to net sales of $17.4 million, last year, with decreased net sales in the enterprise market partially offset by increased net sales in its specialty markets.

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