Optical Cable reports profit of 3 cents per share
- March 12, 2012
Roanoke-based Optical Cable Corp. reported a profit of 3 cents a share for its first quarter, which ended Jan. 31.
The company, a manufacturer of a broad range of fiber-optic and copper data communications cabling, had net sales of $17.3 million for the quarter, down 2.1 percent from the same period last year.
Optical Cable’s net income attributable to the company was, $192,000, or 3 cents per diluted share, compared with $402,000, or 6 cents a share, during the first quarter of 2011.
The company’s sales in commercial markets rose by about 14 percent during the first quarter, but its specialty markets sales — particularly its military and severe duty markets — offset the increase.
Gross profit for the quarter was $6.2 million, slightly lower than the company’s gross profit of $6.4 million in the first quarter of fiscal year 2011.
Gross profit margin, or gross profit as a percentage of net sales, decreased slightly to 35.5% in the first quarter of fiscal year 2012 from 36.3% in the first quarter of fiscal year 2011.