Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : OCCF: Optical Cable Corp -- Ignore unavailable to you. Want to Upgrade?

To: Jordan Electron who wrote (520)	12/12/1997 8:02:00 PM
From: PHIL L. FARRA	Read Replies (1) \| Respond to of 545

December 9, 1997 OCC Reports Second Consecutive Quarter Of Record Revenues Optical Cable Corporation (NASDAQ:OCCF) today announced that it booked $14.8 million in sales for its fourth fiscal quarter ended October 31, 1997, a new quarterly record and the thirteenth consecutive quarter of year over year sales gains. This compares to $14.3 million in sales in the third quarter of fiscal 1997 and $13.8 million of sales in last year's fourth quarter, which ended October 31, 1996. For fiscal 1997, the Company booked sales of $52.2 million compared to $45.2 million in the year ago period. Optical Cable plans to report results for its fiscal fourth quarter and year ended October 31, 1997 by the end of the month. Commenting on the Company's performance, Robert Kopstein, President and Chief Executive Officer said, "We are pleased to report another record quarter of revenues despite periodic intervals of weakness being experienced throughout the industry. We are beginning to see the benefit of lower fiber prices, which is expected to add to the seasonal improvement in our gross margin over third quarter levels. For fiscal 1998, we currently expect the gross margin percentage to return to the mid-forties." Mr. Kopstein concluded, "Optical Cable has continued to strengthen its market position during the year aided by our increased focus on international growth. Sales in South America increased approximately 50% in fiscal 1997, benefiting from the hiring of a regional sales manager earlier in the year. Finally, we are not currently seeing any impact from recent currency and market turbulence in the Far East. Our order input for November was up a strong 44% over last year, giving us reason to be optimistic going into fiscal 1998." 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.