August 19, 1997
OCC Reports Record Quarterly Revenues
for Third Quarter
Optical Cable Corporation (NASDAQ:OCCF) today announced that it booked $14.3 million in sales for its third fiscal quarter ended July 31, 1997, a new
quarterly record. The previous record of $13.8 million was achieved in last year's fiscal fourth quarter, which ended October 31, 1996. Revenues for the third
quarter of 1997 grew 32% from $10.9 million in the third quarter of 1996 and grew 35% sequentially from $10.6 million in the second quarter of 1997.
Optical Cable reported that the month of July was also a record in terms of sales. The Company booked revenues of $5.8 million in the month compared to
the previous record of $5.5 million in October 1996.
Commenting on the record revenues, Robert Kopstein, President and Chief Executive Officer said, "We are very pleased to report these strong results,
particularly given that the prior records were both achieved in the fourth quarter of 1996, typically our strongest quarter."
In a Dow Jones interview that ran on Friday, August 15, Mr. Kopstein was quoted saying that third quarter revenues "surpassed...internal projections by
5%" and that he is "more than comfortable" with estimates that the company will earn between $0.05 and $0.06 per share in the third quarter. He was
further quoted saying that "orders remain strong in the fourth quarter, when sales typically show a 20% growth from the third quarter." Optical Cable plans
to report results for its fiscal third quarter ended July 31, 1997 by the end of the month.
Optical Cable Corporation manufactures and markets a broad range of fiber optic cables for "high bandwidth" transmission of data, video and audio
communications over moderate distances. Optical Cable Corporation's cables can be used both indoors and outdoors and utilize a tight-buffered coating
that protects the optical fiber.
Note: This news release contains certain forward looking statements that are subject to risks and uncertainties that could cause actual results to differ
materially from those projected or forecasted. Such risks and uncertainties include, but are not limited to, those disclosed in the Company's Annual Report
and Form 10-K for fiscal year 1996. |
