Earnings are out. Gross margin declined from 46% down to 39%.
Consequently net income was up only 8% over a year ago, even though
sales were up a lot more than that.
eps has limped back up to a nickel, right where it was a year ago,
and a year before that too. Very flat eps.
EARNINGS PER SHARE
QUARTERS 1994 1995 1996 1997
JAN 0.02 0.04 0.04 0.05
APR 0.02 0.05 0.04 0.04
JUL 0.01 0.05 0.05 0.05
OCT 0.040 0.08 0.06
TOTAL 0.09 0.22 0.19
Based on the nickel of eps that they earned, the stock is trading at a pe of 72.
Here's the Reuters version of the news:
=======================================================
ROANOKE, Va., Sept. 3 (Reuter) -
OPTICAL CABLE CORPORATION
Condensed Statements of Income
(In thousands, except per share data)
Three Months Ended Nine Months Ended
July 31, July 31,
1997 1996 1997 1996
Net sales $14,286 $10,862 $37,423 $31,388
Cost of goods sold 8,669 5,909 22,162 17,631
Gross profit 5,617 4,953 15,261 13,757
Selling, general and
admin. expenses 2,517 2,005 6,914 5,917
Other income (expense), net 3 35 (4) 170
Net income before income tax
3,103 2,983 8,343 8,010
Income tax expense 1,086 1,124 2,933 3,054
Net income 2,017 1,859 5,410 4,956
Net income per share 0.052 0.046 0.140 0.127
Weighted average shares
outstanding 38,675 40,475 38,675 38,989
Earnings per-share and shares outstanding are reported on
a proforma basis in all 1996 periods. In the nine-month 1996
period, net income and income tax expense are also reported
proforma. |
