In the company’s recent news,
Optical Cable Corporation announced its financial results from the third fiscal quarter and the nine months ended July 31, 2008. The company’s shares declined earlier this week after Optical Cable released that third quarter of fiscal year 2008 net income decreased to $482,000, or $0.08 per basic and diluted share, compared to $538,000, or $0.09 per basic and diluted share, for the same period last year.
Net sales for the third quarter of fiscal 2008 increased 40.4 percent to $16.4 million compared to net sales of $11.7 million for the same period one year earlier. Quarterly gross profit margin increased to 42.0 percent during the third quarter of fiscal 2008 compared to 40.2 percent for the corresponding period last year, which excludes the impact of the company’s acquisition of SMP Data Communications.
Optical Cable’s chairman and chief executive officer, Neil D. Wilkin, Jr., commented, “This marks the fifth consecutive quarter of increases in both net sales and gross profits when compared to the same period in the previous year. We continue to show significant net sales growth in our U.S. and international markets despite weakness in the global economy. We believe our strategy will positively impact our future results as well.”
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Forward-Looking Statement:
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