Investorideas.com

Investorideas.com
Breaking News

Investorideas.com newswire

Friday, June 8, 2012

Optical Cable (NASDAQ:OCC) Top NASDAQ Gainer on Second Quarter Earnings

New York, NY - June 8, 2012 (Investorideas.com Newswire) Investorideas.com, a leader in sector research for independent investors issues a trading alert for Optical Cable Corp. (NasdaqGM: OCC), trading at $4.00, gaining $1.08 or (36.99%) as of 10:53AM EDT on over 400,000 shares, making it the top percentage gainer on NASDAQ.com in early trading. The stock moved on second quarter earning results.
Second Quarter 2012 Financial Results
OCC's consolidated net sales for the second quarter of fiscal year 2012 were the highest in OCC's history - exceeding the previous quarterly net sales record set in the fourth quarter of fiscal year 2011.
Consolidated net sales for the second quarter of fiscal 2012 increased 28.3% to $22.1 million, compared to consolidated net sales of $17.2 million for the same period last year. The increase in net sales during the second quarter of fiscal 2012 was attributable primarily to increased sales of the Company's fiber optic cable products.
Net sales to customers in the United States increased 20.5% in the second quarter of fiscal 2012, compared to the same period last year, and net sales to customers outside of the United States increased 56.3%. Additionally, the Company achieved an increase in net sales during the second quarter of fiscal 2012 in both its commercial and specialty markets, compared to the second quarter of fiscal 2011.
Gross profit increased 49.1% to $8.9 million in the second quarter of fiscal 2012, compared to $5.9 million in the second quarter of fiscal year 2011. Gross profit margin, or gross profit as a percentage of net sales, increased to 40.2% in the second quarter of fiscal 2012 from 34.6% in the second quarter of fiscal year 2011.
OCC recorded net income attributable to the Company of $949,000, or $0.15 per basic and diluted share, for the second quarter of fiscal 2012, compared to a net loss attributable to the Company of $90,000, or $0.02 per basic and diluted share, for the second quarter of fiscal 2011.
Fiscal Year-to-Date 2012 Financial Results
Consolidated net sales for the first half of fiscal 2012 increased 12.9% to $39.4 million, compared to net sales of $34.9 million for the same period last year. The increase in net sales during the first half of fiscal 2012 was primarily attributable to increased sales of the Company's fiber optic cable products.
Net sales to customers in the United States increased 10.3% in the first half of fiscal year 2012, compared to the same period last year, and net sales to customers outside of the United States increased 20.4%. Additionally, the Company achieved an increase in net sales during the first half of fiscal year 2012 in its commercial markets, but this increase was partially offset by decreases in net sales in its specialty markets.
Gross profit increased 21.4% to $15.0 million in the first half of fiscal 2012, compared to $12.4 million in the first half of fiscal 2011. Gross profit margin increased to 38.1% in the first half of fiscal 2012 from 35.4% in the first half of fiscal 2011.
OCC recorded net income attributable to the Company of $1.1 million, or $0.18 per basic and diluted share, for the first half of fiscal year 2012, compared to $312,000, or $0.05 per basic and diluted share, for the same period in fiscal year 2011.
Investorideas.com Newswire Get Free investor news and stock alerts at Investorideas.com
Sign Up Today
Join Investor Ideas Get 13 of the best stock directories online;
Research China, nanotech, oil and gas stocks, gold stocks, water stocks, renewable energy stocks
About InvestorIdeas.com:
InvestorIdeas.com is a leader in investor stock research by sector. Sectors we cover include; water and renewable energy stocks, biotech stocks, mining and gold stocks, energy stocks, natural gas stocks, tech (includes cloud and social networking), defense stocks, nanotech,   China  stocks and agriculture.
Follow Investorideas.com on Twitter http://twitter.com/#!/Investorideas
Follow Investorideas.com on Facebook http://www.facebook.com/Investorideas
Follow Renewable Energy Stocks on Facebook.com
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising.
From time to time Investorideas.com buys shares in companies it features. As a policy, Investorideas.com does not short stocks. Investorideas.com is not long and was not compensated for this report
www.InvestorIdeas.com/About/Disclaimer.asp
800-665-0411
Source - www.Investorideas.com
Post a Comment