Optical Cable Corporation (NASDAQ:OCCF) (“OCC”) today announced financial results for its fiscal year and fourth quarter ended October 31, 2009.
Fiscal Year 2009 Financial Results
OCC’s consolidated net sales for fiscal year 2009 decreased 4.0% to $58.6 million from $61.0 million for fiscal year 2008. The Company believes that the decline in net sales is primarily attributable to the global economic recession. The sale of enterprise connectivity products, which were consolidated for the full year, added $13.0 million to OCC’s consolidated net sales during fiscal year 2009. These products, which were consolidated for only five months during fiscal year 2008 after the May 30, 2008 acquisition of SMP Data Communications, added $8.0 million to OCC’s consolidated net sales during fiscal year 2008.
