Optical Cable Corp. (OCC) Reports Q1 Loss of $0.35

Optical Cable Corp. (NASDAQ: OCC) reported Q1 EPS of ($0.35). Revenue for the quarter came in at $12.89 million.

Neil Wilkin, President and Chief Executive Officer of OCC, said, "Despite the volatility of the markets, our results for the first quarter reflect stability in certain of our core markets. During the quarter, we made progress on cost reduction initiatives and achieved increased production throughput and efficiency improvements at our Roanoke production facility. While our fixed costs and operating leverage offset these efforts during the quarter, we expect to realize the benefits of these initiatives as sales increase. Looking ahead, we are seeing increases in sales activity in certain of our markets so far, and we are continuing to execute on our strategies to aggressively drive sales and increase operational efficiency."

Mr. Wilkin continued, "Our markets remain challenging and, like others around the world, we are closely monitoring the impact of the global coronavirus pandemic. That said, we are focused on what we can control, which includes continuing to innovate and provide comprehensive solutions that meet the evolving needs of our broad and diverse customer base. We remain committed to enhancing operational excellence to deliver enhanced value to shareholders."

For earnings history and earnings-related data on Optical Cable Corp. (OCC) click here.

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