Condensed Consolidated Balance Sheets (Unaudited) (USD $)
Jan. 31, 2015
Oct. 31, 2014
Current assets:    
Cash $ 688,620 $ 1,089,507
Trade accounts receivable, net of allowance for doubtful accounts of $59,757 at January 31, 2015 and $92,988 at October 31, 2014 9,053,850 14,076,349
Other receivables 189,348 180,135
Income taxes refundable 153,799 0
Inventories 18,402,610 17,518,119
Prepaid expenses 641,152 578,843
Deferred income taxes, current 1,763,140 1,933,653
Total current assets 30,892,519 35,376,606
Property and equipment, net 12,945,317 13,113,445
Intangible assets, net 462,104 438,696
Deferred income taxes - noncurrent 297,197 320,509
Other assets, net 1,432,598 789,358
Total assets 46,029,735 50,038,614
Current liabilities:    
Current installments of long-term debt 272,939 269,996
Accounts payable and accrued expenses 3,794,483 5,438,519
Accrued compensation and payroll taxes 1,512,182 2,895,100
Income taxes payable 18,788 698,051
Total current liabilities 5,598,392 9,301,666
Note payable to bank 3,000,000 2,500,000
Long-term debt, excluding current installments 7,158,329 7,227,023
Deferred income taxes - noncurrent 58,114 26,038
Other noncurrent liabilities 533,034 677,597
Total liabilities 16,347,869 19,732,324
Shareholders’ equity:    
Preferred stock, no par value, authorized 1,000,000 shares; none issued and outstanding 0 0
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 6,723,940 shares at January 31, 2015 and 6,839,778 shares at October 31, 2014 9,680,636 9,543,686
Retained earnings 20,725,501 21,462,881
Total shareholders’ equity attributable to Optical Cable Corporation 30,406,137 31,006,567
Noncontrolling interest (724,271) (700,277)
Total shareholders’ equity 29,681,866 30,306,290
Commitments and contingencies      
Total liabilities and shareholders’ equity $ 46,029,735 $ 50,038,614