XML 25 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
Apr. 30, 2014
Oct. 31, 2013
Current assets:    
Cash $ 290,800 $ 750,303
Trade accounts receivable, net of allowance for doubtful accounts of $86,184 at April 30, 2014 and $74,073 at October 31, 2013 11,499,812 9,951,970
Other receivables 183,697 225,016
Income taxes refundable 1,077,628 590,569
Inventories 18,472,634 18,234,279
Prepaid expenses 621,777 331,141
Deferred income taxes - current 1,627,436 1,726,695
Total current assets 33,773,784 31,809,973
Property and equipment, net 12,641,055 12,827,198
Intangible assets, net 392,189 340,807
Deferred income taxes - noncurrent 245,475 161,063
Other assets, net 478,167 275,858
Total assets 47,530,670 45,414,899
Current liabilities:    
Current installments of long-term debt 264,235 258,628
Accounts payable and accrued expenses 4,957,560 3,267,812
Accrued compensation and payroll taxes 1,806,316 1,297,591
Total current liabilities 7,028,111 4,824,031
Note payable to bank 3,000,000 2,500,000
Long-term debt, excluding current installments 7,363,061 7,497,042
Deferred income taxes - noncurrent 132,801 83,158
Other noncurrent liabilities 888,989 950,952
Total liabilities 18,412,962 15,855,183
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 6,934,348 shares at April 30, 2014 and 6,570,734 shares at October 31, 2013 9,107,238 8,679,435
Retained earnings 20,693,865 21,519,238
Total shareholders’ equity attributable to Optical Cable Corporation 29,801,103 30,198,673
Noncontrolling interest (683,395) (638,957)
Total shareholders’ equity 29,117,708 29,559,716
Total liabilities and shareholders’ equity $ 47,530,670 $ 45,414,899