XML 33 R2.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Condensed Consolidated Balance Sheets (USD $)
Jul. 31, 2011
Oct. 31, 2010
Assets    
Cash $ 1,190,058 $ 2,522,058
Trade accounts receivable, net of allowance for doubtful accounts of $138,351 at July 31, 2011 and $120,450 at October 31, 2010 10,155,767 10,659,623
Other receivables 559,358 606,435
Income taxes refundable 659,516 373,090
Inventories 15,675,231 14,422,787
Prepaid expenses and other assets 457,860 332,475
Deferred income taxes - current 1,551,185 1,750,542
Total current assets 30,248,975 30,667,010
Property and equipment, net 12,607,977 13,125,114
Intangible assets, net 408,399 695,580
Deferred income taxes - noncurrent 685,612 626,132
Other assets, net 392,185 176,930
Total assets 44,343,148 45,290,766
Liabilities and Shareholders' Equity    
Current installments of long-term debt 187,772 177,350
Accounts payable and accrued expenses 4,916,061 5,339,941
Accrued compensation and payroll taxes 1,839,512 2,181,235
Income taxes payable   63,590
Total current liabilities 6,943,345 7,762,116
Note payable to bank 1,000,000 700,000
Long-term debt, excluding current installments 8,048,372 8,191,785
Other noncurrent liabilities 975,943 1,056,803
Total liabilities 16,967,660 17,710,704
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 6,305,738 shares at July 31, 2011 and 6,280,173 at October 31, 2010 6,542,163 5,987,777
Retained earnings 21,264,506 21,869,667
Total shareholders' equity attributable to Optical Cable Corporation 27,806,669 27,857,444
Noncontrolling interest (431,181) (277,382)
Total shareholders' equity 27,375,488 27,580,062
Commitments and contingencies    
Total liabilities and shareholders' equity $ 44,343,148 $ 45,290,766