The following is a summary of the Optical Cable Corporation (OCC) Q3 2024 Earnings Conference Call Transcript:

Financial Performance:

• Consolidated net sales for the third quarter of fiscal 2024 were $16.2 million, a decrease of 4.2% compared to the same period last year.

• Gross profit was $3.9 million in the third quarter of fiscal 2024, a decrease from $5.1 million in the third quarter of the last fiscal year. The gross profit margin was 24.2% in the third quarter of fiscal 2024, compared to 30.2% in the third quarter of fiscal 2023.

• OCC recorded a net loss of $1.6 million, or $0.20 per basic and diluted share for the third quarter of fiscal 2024, compared to net income of $101,000, or $0.01 per basic and diluted share for the third quarter of fiscal 2023.

Business Progress:

• Net sales increased sequentially each quarter since the first quarter of fiscal 2024, indicating some recovery in the sales order backlog and forward load, which increased to $6.5 million from earlier this fiscal year.

• OCC continues to focus on executing plans to capture opportunities to grow net sales and operate efficiently.

Opportunities:

• Improvement in sales order backlog and forward visibility, indicating better market positioning for future revenue generation.

Risks:

• Current weakness in industry and target markets, particularly noted in the specialty markets including the wireless carrier market, leads to a challenging market environment impacting top line and customer demand.

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