|
Condensed Consolidated Balance Sheets (USD $)
|
Oct. 31, 2012
|
Oct. 31, 2011
|
| Assets |
|
|
| Cash |
$ 591,038 |
$ 1,091,513 |
| Trade accounts receivable, net of allowance for doubtful accounts of $92,148 in 2012 and $145,616 in 2011 |
12,601,402 |
10,797,820 |
| Other receivables |
216,212 |
510,714 |
| Income taxes refundable |
118,058 |
434,124 |
| Inventories |
18,464,019 |
16,497,185 |
| Prepaid expenses and other assets |
484,406 |
374,028 |
| Deferred income taxes - current |
2,289,530 |
1,817,807 |
| Total current assets |
34,764,665 |
31,523,191 |
| Property and equipment, net |
11,648,166 |
12,544,465 |
| Intangible assets, net |
245,956 |
295,843 |
| Deferred income taxes - noncurrent |
513,817 |
426,770 |
| Other assets, net |
589,741 |
154,945 |
| Total assets |
47,762,345 |
44,945,214 |
| Liabilities and Shareholders' Equity |
|
|
| Current installments of long-term debt |
247,739 |
190,593 |
| Accounts payable and accrued expenses |
4,191,633 |
5,426,467 |
| Accrued compensation and payroll taxes |
3,464,452 |
2,579,865 |
| Income taxes payable |
22,937 |
|
| Total current liabilities |
7,926,761 |
8,196,925 |
| Note payable to bank |
1,000,000 |
|
| Long-term debt, excluding current installments |
7,755,680 |
8,000,311 |
| Other noncurrent liabilities |
1,044,862 |
1,025,003 |
| Total liabilities |
17,727,303 |
17,222,239 |
| Shareholders' equity: |
|
|
| Preferred stock, no par value, authorized 1,000,000 shares; none issued and outstanding |
|
|
| Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 6,411,592 shares in 2012 and 6,287,761 in 2011 |
8,024,544 |
6,771,565 |
| Retained earnings |
22,619,814 |
21,437,609 |
| Total shareholders' equity attributable to Optical Cable Corporation |
30,644,358 |
28,209,174 |
| Noncontrolling interest |
(609,316) |
(486,199) |
| Total shareholders' equity |
30,035,042 |
27,722,975 |
| Commitments and contingencies |
|
|
| Total liabilities and shareholders' equity |
$ 47,762,345 |
$ 44,945,214 |