Optical Cable rebounds

Virginia Business
October 2005

Optical Cable Corp. knows a little something about hard times. In 2001, the Roanoke-based manufacturer of fiber-optic cable saw its stock price plummet and its CEO ousted by the board of directors. The company was hit with a series of shareholder lawsuits, which it eventually settled for $700,000.

But things are looking better for Optical Cable. Its current CEO, 41-year-old Neil Wilkin, has breathed new life into the company. Nearly four years after he took the helm, Optical Cable is making a slow but steady comeback. Last year, it had revenue of $43 million and a profit of $750,000. In the first six months of this year, the company saw its business grow 13 percent.

The future looks bright. In August, Optical Cable became the first company in its industry to earn two rigorous certifications from the Department of Defense, one for its manufacturing facility and the other for its ground-tactical, fiber-optic cable. Wilkin says the certifications provide the company and its products with a much-desired stamp of approval.

"It puts us in a position where government contractors and subcontractors will buy our product not just based on our word that it's the best military-tactical, fiber-optic cable in the world, but that it has met the military's standards," he says.

The certifications dovetail with the company's sales strategy to focus on customer needs in targeted market segments, such as the military, petrochemicals and mining. Wilkin says this strategy is beginning to pay off.