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Notable News to Focus: Optical Cable Corporation (NASDAQ:OCC)

Optical Cable Corporation (NASDAQ:OCC) changed -4.76% to recent value of $2.5. The stock transacted 38970 shares during most recent day however it has an average volume of 4.37K shares. It spotted trading -54.55% off 52-week high price. On the other end, the stock has been noted -4.76% away from the low price over the last 52-weeks.

On March 16, 2020, Optical Cable Corporation (NASDAQ GM:OCC) reported financial results for its first quarter ended January 31, 2020.

First Quarter 2020 Financial Results

Consolidated net sales were $12.9 million in the first quarter of fiscal year 2020, compared to net sales of $16.8 million in the first quarter of fiscal year 2019.  The year-over-year decrease in net sales was mostly due to a number of large orders from one customer in the wireless carrier market in the first quarter of fiscal year 2019 that did not recur at the same levels in the first quarter of fiscal year 2020.  Net sales to this customer decreased $2.3 million in the first quarter of fiscal 2020, as compared to the first quarter of fiscal 2019.  Historically, net sales to this customer have been volatile from quarter to quarter and from year to year.

Gross profit was $2.4 million in the first quarter of fiscal year 2020 compared to gross profit of $3.6 million in the same period last year, a decrease of 32.5%.  Gross profit margin, or gross profit as a percentage of net sales, was 18.7% in the first quarter of fiscal year 2020 compared to 21.3% for the same period in fiscal year 2019.  The lower gross profit margin in the first quarter of fiscal year 2020 was substantially impacted by fixed production costs being spread over lower total sales when compared to the first quarter of fiscal 2019, offsetting cost reductions and significant production throughput and efficiency improvements achieved principally in the Company’s Roanoke production facility.

OCC has a gross margin of 25.70% and an operating margin of -7.10% while its profit margin remained -7.90% for the last 12 months. Its earnings per share (EPS) expected to touch remained -348.90% for this year.

The company has 8.37M of outstanding shares and 4.82M shares were floated in the market. According to the most recent quarter its current ratio was 2.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of -18.59% from the mean of 20 days, -23.44% from mean of 50 days SMA and performed -28.35% from mean of 200 days price. Company’s performance for the week was -12.61%, -23.08% for month and YTD performance remained -23.08%.

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