Optical Cable reports Q3 2016 net sales of USD17m

Optical Cable Corporation (NASDAQ: OCC) has reported USD16.9 million in consolidated net sales for the third quarter of fiscal year 2016, compared to net sales of USD20.8 million for the third quarter of fiscal year 2015, a decrease of 18.6 percent, the company said.

Net sales increased in the third quarter of fiscal 2016, up 3.5 percent compared to net sales of USD16.3 million for the second quarter of fiscal year 2016, and up 20.4 percent compared to USD14.0 million for the first quarter of fiscal 2016.

Gross profit margin, or gross profit as a percentage of net sales, improved to 32.3 percent in the third quarter of fiscal year 2016, compared to 27.5 percent in the third quarter of fiscal year 2015. The company achieved gross profit of USD5.5 million in the third quarter of fiscal year 2016, compared to USD5.7 million in the third quarter of fiscal year 2015.

OCC recorded net income attributable to the company of USD188,000, or USD0.03 per basic and diluted share, for the third quarter of fiscal year 2016, compared to a net loss attributable to the company of USD573,000, or USD0.09 per basic and diluted share, for the third quarter of fiscal year 2015.

The company generated approximately USD2.0 million of cash flow from operating activities during the first nine months of fiscal year 2016, an increase of 95.3 percent compared to the first nine months of fiscal year 2015.

OCC delivers cabling and connectivity products and integrated solutions that are best suited to the performance requirements of each end-user´s application.