Optical Cable Corp. Posts Loss For Q4

(RTTNews) - Optical Cable Corp. (OCC), a manufacturer of fiber optical cable, Thursday reported loss for the fourth quarter over a profit in the same period last year, as the company paid more taxes and witnessed a drop in sales.

The company posted loss of $91 thousand, or $0.02 per share, compared with a profit of $435 thousand, or $0.07 per share, a year ago. During the fourth quarter, income tax expenses increased to $301 thousand from $193 thousand a year earlier.

Net sales decreased by 13.1 percent to $19.2 million from $22.1 million a year ago. The company said that orders equaling $3.9 million in the year-ago quarter did not recur at the same level in fourth quarter of this year.

Wednesday, the stock closed at $3.73 on the Nasdaq.