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Optical Cable Corporation Q3 net sales up 14.6%

Christian Fernsby |
Optical Cable Corporation announced financial results for its third quarter ended July 31, 2021.

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Consolidated net sales for the third quarter of fiscal year 2021 increased 14.6% to $15.6 million, compared to net sales of $13.6 million for the same period last year.

Optical Cable Corporation increased net sales in both its enterprise and specialty markets, including the wireless carrier market, in the third quarter of fiscal year 2021, compared to the same period last year.

Optical Cable Corporation believes net sales during the third quarter of fiscal year 2021 were positively impacted, compared to the same period last year, by the continued lifting of some restrictions and reopening of certain markets that had been negatively impacted by the COVID-19 pandemic.

During the third quarter, Optical Cable Corporation continued to see positive indicators in many of its markets as reflected in increased sales, production volumes and sales order backlog/forward load.

Gross profit was $4.1 million in the third quarter of fiscal year 2021, an increase of 17.8% compared to gross profit of $3.5 million for the same period last year. Gross profit margin, or gross profit as a percentage of net sales, increased to 26.2% in the third quarter of fiscal year 2021 compared to 25.5% in the third quarter of fiscal year 2020.

Gross profit margins tend to be higher when Optical Cable Corporation achieves higher net sales levels, as certain fixed manufacturing costs are spread over higher sales, and the Company benefited from this positive operating leverage during the third quarter of fiscal year 2021 when compared to the same period last year.


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