Optical Cable reports profit on record quarterly sales
- September 13, 2010
Roanoke-based Optical Cable Corp. reported a profit of 9 cents a share as sales reached record levels in the company’s third quarter.
Optical Cable had a total profit of $575,000 during the quarter, compared with a loss of $1.1 million, or 19 cents a share, for the same period last year.
The company had record net sales of $18.8 million during the quarter, which ended July 31. That figure is up 32.2 percent from the third quarter of 2009.
For the nine months of its fiscal year, the company had a net loss of $7.2 million, or $1.21 a share. Contributing to the loss was a nonrecurring impairment charge of $6.2 million to write off the carrying value of goodwill associated with the company’s acquisition of Applied Optical Systems Inc.