Optical Cable (OCC) 10-Q 12 Sep 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jul. 31, 2017	Sep. 08, 2017
Document Information [Line Items]
Entity Registrant Name	OPTICAL CABLE CORP
Entity Central Index Key	1,000,230
Trading Symbol	occ
Current Fiscal Year End Date	--10-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		7,334,016
Document Type	10-Q
Document Period End Date	Jul. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jul. 31, 2017	Oct. 31, 2016
Current assets:
Cash	$ 529,264	$ 1,879,064
Trade accounts receivable, net of allowance for doubtful accounts of $75,827 at July 31, 2017 and $74,266 at October 31, 2016	9,300,973	8,916,245
Other receivables	41,580	70,828
Inventories	18,354,925	15,023,966
Prepaid expenses	468,487	431,780
Total current assets	28,695,229	26,321,883
Property and equipment, net	12,601,351	13,399,158
Intangible assets, net	612,132	575,010
Other assets, net	180,611	369,737
Total assets	42,089,323	40,665,788
Current liabilities:
Current installments of long-term debt	248,212	294,214
Accounts payable and accrued expenses	4,315,670	2,636,420
Accrued compensation and payroll taxes	1,324,641	1,179,872
Income taxes payable	21,896	15,603
Total current liabilities	5,910,419	4,126,109
Note payable to bank	5,400,000	5,000,000
Long-term debt, excluding current installments	6,482,701	6,651,780
Other noncurrent liabilities	131,574	122,910
Total liabilities	17,924,694	15,900,799
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 7,334,348 shares at July 31, 2017 and 7,081,159 shares at October 31, 2016	11,647,263	11,080,595
Retained earnings	12,517,366	13,684,394
Total shareholders’ equity	24,164,629	24,764,989
Commitments and contingencies
Total liabilities and shareholders’ equity	$ 42,089,323	$ 40,665,788

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands	Jul. 31, 2017	Oct. 31, 2016
Allowance for doubtful accounts	$ 75,827	$ 74,266
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	7,334,348	7,081,159
Common stock, shares outstanding (in shares)	7,334,348	7,081,159

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Net sales	$ 16,432,243	$ 16,915,135	$ 46,885,968	$ 47,303,178
Cost of goods sold	11,126,456	11,453,444	31,106,743	33,787,761
Gross profit	5,305,787	5,461,691	15,779,225	13,515,417
Selling, general and administrative expenses	5,426,018	5,074,839	16,517,168	15,513,897
Royalty expense, net	39,185	38,920	109,350	105,249
Amortization of intangible assets	6,650	4,194	18,614	11,322
Income (loss) from operations	(166,066)	343,738	(865,907)	(2,115,051)
Other expense, net:
Interest expense	(126,658)	(166,154)	(392,624)	(459,672)
Other, net	11,659	3,419	109,829	19,752
Other expense, net	(114,999)	(162,735)	(282,795)	(439,920)
Income (loss) before income taxes	(281,065)	181,003	(1,148,702)	(2,554,971)
Income tax expense (benefit)	14,095	(7,160)	1,307	7,181
Net income (loss)	(295,160)	188,163	(1,150,009)	(2,562,152)
Net loss attributable to noncontrolling interest				(22,172)
Net income (loss) attributable to OCC	$ (295,160)	$ 188,163	$ (1,150,009)	$ (2,539,980)
Net loss attributable to OCC per share: Basic and diluted (in dollars per share)	$ (0.05)	$ 0.03	$ (0.18)	$ (0.40)

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - 9 months ended Jul. 31, 2017 - USD ($)	Common Stock [Member]	Retained Earnings [Member]	Total
Balances (in shares) at Oct. 31, 2016	7,081,159
Balances at Oct. 31, 2016	$ 11,080,595	$ 13,684,394	$ 24,764,989
Share-based compensation, net (in shares)	(258,434)
Share-based compensation, net	$ 566,668		566,668
Repurchase and retirement of common stock (at cost) (in shares)	(5,245)
Repurchase and retirement of common stock (at cost)		(17,019)	(17,019)
Net loss		(1,150,009)	(1,150,009)
Balances (in shares) at Jul. 31, 2017	7,334,348
Balances at Jul. 31, 2017	$ 11,647,263	$ 12,517,366	$ 24,164,629

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Cash flows from operating activities:
Net loss	$ (1,150,009)	$ (2,562,152)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation, amortization and accretion	1,232,460	1,494,716
Bad debt expense	6,161	23,074
Share-based compensation expense	668,676	659,796
(Gain) loss on sale of property and equipment	88,464	(5,507)
(Increase) decrease in:
Trade accounts receivable	(390,889)	120,155
Other receivables	29,248	88,198
Income taxes refundable		335,286
Inventories	(3,330,959)	2,871,967
Prepaid expenses	(36,707)	113,007
Increase (decrease) in:
Accounts payable and accrued expenses	1,630,938	(702,472)
Accrued compensation and payroll taxes	144,769	26,562
Income taxes payable	6,293	(22,498)
Other noncurrent liabilities	171,431	(452,444)
Net cash provided by (used in) operating activities	(930,124)	1,987,688
Cash flows from investing activities:
Purchase of and deposits for the purchase of property and equipment	(412,332)	(567,420)
Investment in intangible assets	(55,736)	(77,339)
Proceeds from sale of property and equipment		9,118
Net cash used in investing activities	(468,068)	(635,641)
Cash flows from financing activities:
Payroll taxes withheld and remitted on share-based payments	(102,008)	(73,160)
Proceeds from note payable to bank	1,000,000	6,000,000
Principal payments on long-term debt and note payable to bank	(815,081)	(6,310,037)
Payments for financing costs	(17,500)	(137,794)
Repurchase of common stock	(17,019)
Common stock dividends paid		(141,311)
Net cash provided by (used in) financing activities	48,392	(662,302)
Net increase (decrease) in cash	(1,349,800)	689,745
Cash at beginning of period	1,879,064	1,083,072
Cash at end of period	$ 529,264	$ 1,772,817

Note 1 - General

Note 1 - General	9 Months Ended
	Jul. 31, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	( 1 General The accompanying unaudited condensed consolidated financial statements of Optical Cable Corporation and its subsidiaries (collectively, the “Company” or “OCC ® 10 X. not nine July 31, 2017 not October 31, 2017 may 10 October 31, 2016 10 not 10 October 31, 2016. In April 2015, 2015 03, Simplifying the Presentation of Debt Issuance Costs 2015 03" 2015 03 August 2015, 2015 15, Interest - Imputed Interest (Subtopic 835 30 2015 15” may December 15, 2015. 2015 03 November 1, 2016. not In November 2015, 2015 17, Income Taxes 2015 17” 2015 17 2015 17 December 15, 2016, 2015 17 November 1, 2016. not

Note 2 - Stock Incentive Plans

Note 2 - Stock Incentive Plans and Other Share-based Compensation	9 Months Ended
	Jul. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	( 2 Stock Incentive Plans and Other Share-Based Compensation On March 28, 2017, 2017 “2017 2017 500,000 2017 2011 “2011 July 31, 2017, 566,000 2017 500,000 36,903 2011 60,689 31,380 March 2017). Share-based compensation expense for employees, a consultant and non-employee Directors recognized in the condensed consolidated statements of operations for the three nine July 31, 2017 $237,663 $668,676, three nine July 31, 2016 $145,459 $659,796, Restricted and Other Stock Awards The Company has granted, and anticipates granting from time to time, restricted stock awards subject to approval by the Compensation Committee of the Board of Directors. Since fiscal year 2004, Restricted stock award activity during the nine July 31, 2017 391,211 104,692 28,085. As of July 31, 2017, 3.1 $2.5

Note 3 - Allowance for Doubtful

Note 3 - Allowance for Doubtful Accounts for Trade Accounts Receivable	9 Months Ended
	Jul. 31, 2017
Notes to Financial Statements
Allowance for Doubtful Accounts for Trade Accounts Receivable Disclosure [Text Block]	( 3 Allowance for Doubtful Accounts for Trade Accounts Receivable A summary of changes in the allowance for doubtful accounts for trade accounts receivable for the nine July 31, 2017 2016 Nine Months Ended July 31, 2017 2016 Balance at beginning of period $ 74,266 $ 63,011 Bad debt expense 6,161 23,074 Losses charged to allowance (4,729 ) — Recoveries added to allowance 129 — Balance at end of period $ 75,827 $ 86,085

Note 4 - Inventories

Note 4 - Inventories	9 Months Ended
	Jul. 31, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 4 Inventories Inventories as of July 31, 2017 October 31, 2016 July 31, October 31, 2017 2016 Finished goods $ 5,780,827 $ 4,657,779 Work in process 3,144,780 2,591,885 Raw materials 9,083,691 7,515,717 Production supplies 345,627 258,585 Total $ 18,354,925 $ 15,023,966

Note 5 - Product Warranties

Note 5 - Product Warranties	9 Months Ended
	Jul. 31, 2017
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	( 5 Product Warranties As of July 31, 2017 October 31, 2016, $155,000 $70,000, three nine July 31, 2017 $96,927 $178,565, three nine July 31, 2016 $34,042 $57,724, The following table summarizes the changes in the Company’s accrual for product warranties during the nine July 31, 2017 2016: Nine Months Ended July 31, 2017 2016 Balance at beginning of period $ 70,000 $ 130,000 Liabilities accrued for warranties issued during the period 176,113 117,437 Warranty claims and costs paid during the period (93,565 ) (112,724 ) Changes in liability for pre-existing warranties during the period 2,452 (59,713 ) Balance at end of period $ 155,000 $ 75,000

Note 6 - Long-term Debt and Not

Note 6 - Long-term Debt and Note Payable to Bank	9 Months Ended
	Jul. 31, 2017
Notes to Financial Statements
Long-term Debt [Text Block]	( 6 Long-term Debt and Note Payable to Bank The Company has credit facilities consisting of a real estate term loan, as amended and restated (the “Virginia Real Estate Loan”), a supplemental real estate term loan, as amended and restated (the “North Carolina Real Estate Loan”) and a revolving credit note. On December 21, 2016, April 26, 2016 April 26, 2016 April 26, 2016 The Agreement with BNC lowered the interest rate of the Virginia Real Estate Loan and the North Carolina Real Estate Loan to 3.75% January 1, 2017 On April 27, 2017, April 26, 2016 April 26, 2016. The Third Loan Modification Agreement revised the interest rates of the term loans and the applicable repayment installments and extended the maturity date. The fixed interest rate of each of the two 3.95% 3.75%, May 1, 2024. The real estate loans continue to be secured by a first first Long-term debt as of July 31, 2017 October 31, 2016 July 31, October 31, 2017 2016 Virginia Real Estate Loan ($6.5 million original principal) payable in monthly installments of $31,812, including interest (at 3.95%), with final payment of $3,644,211 due May 1, 2024 $ 5,005,791 $ 5,165,785 North Carolina Real Estate Loan ($2.24 million original principal) payable in monthly installments of $10,963, including interest (at 3.95%), with final payment of $1,255,850 due May 1, 2024 1,725,122 1,780,209 Total long-term debt 6,730,913 6,945,994 Less current installments 248,212 294,214 Long-term debt, excluding current installments $ 6,482,701 $ 6,651,780 The Revolving Credit Note (“Revolver”) with BNC provides the Company with a $7.0 one $7.0 may The Agreement with BNC resulted in the lowering of the applicable margin in the Revolving Credit Note and established a floor on the interest rate for the Revolving Credit Note such that the rate will never be less than 2.50% 2.50% 3.72% July 31, 2017). On February 28, 2017, March 31, 2019, February 28, 2017 2018. $7.0 may March 31, 2019. The Revolving Loan continues to be secured by a perfected first not As of July 31, 2017, $5.4 $1.6 October 31, 2016, $5.0 $2.0

Note 7 - Fair Value Measurement

Note 7 - Fair Value Measurements	9 Months Ended
	Jul. 31, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 7 Fair Value Measurements The carrying amounts reported in the condensed consolidated balance sheets as of July 31, 2017 October 31, 2016 July 31, 2017 October 31, 2016.

Note 8 - Net Income (Loss) Per

Note 8 - Net Income (Loss) Per Share	9 Months Ended
	Jul. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	( 8 Net Income (Loss) Per Share Basic net income (loss) per share excludes dilution and is computed by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted net income (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net income (loss) of the Company. The following is a reconciliation of the numerators and denominators of the net income (loss) per share computations for the periods presented: Three months ended Nine months ended July 31, July 31, 2017 2016 2017 2016 Net income (loss) attributable to OCC (numerator) $ (295,160 ) $ 188,163 $ (1,150,009 ) $ (2,539,980 ) Shares (denominator) 6,490,205 7,115,389 6,538,621 6,403,352 Basic and diluted net income (loss) per share $ (0.05 ) $ 0.03 $ (0.18 ) $ (0.40 ) Weighted average unvested shares for the three nine July 31, 2017 862,895 738,430, not three nine July 31, 2017 ( Weighted average unvested shares for the nine July 31, 2016 681,570, not nine July 31, 2016 (

Note 9 - Segment Information an

Note 9 - Segment Information and Business and Credit Concentrations	9 Months Ended
	Jul. 31, 2017
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	( 9 Segment Information and Business and Credit Concentrations The Company provides credit, in the normal course of business, to various commercial enterprises, governmental entities and not July 31, 2017 October 31, 2016 For the three nine July 31, 2017, 15.8% 16.3%, one three nine July 31, 2016, 16.3% 14.2%, The Company has a single

Note 10 - Non-controlling Inter

Note 10 - Non-controlling Interest	9 Months Ended
	Jul. 31, 2017
Notes to Financial Statements
Noncontrolling Interest Disclosure [Text Block]	( 10 Non-controlling Interest On August 1, 2008, 70% Effective February 1, 2016, one second 2016, no

Note 11 - Contingencies

Note 11 - Contingencies	9 Months Ended
	Jul. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 11 Contingencies From time to time, the Company is involved in various claims, legal actions and regulatory reviews arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not

Note 12 - New Accounting Standa

Note 12 - New Accounting Standards Not Yet Adopted	9 Months Ended
	Jul. 31, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	( 12 ) New Accounting Standards Not In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09” 2014 09 August 2015, 2015 14, Revenue from Contracts with Customers (Topic 606 2015 14” one 2015 14, 2019. 2016 08, 2016 10, 2016 11, 2016 12, 2016 20 2014 09. not no In July 2015, 2015 11, Simplifying the Measurement of Inventory 2015 11” 2015 11 first first 2015 11 December 15, 2016, 2015 11 not In February 2016, 2016 02, Leases 2016 02” 2016 02 2016 02 December 15, 2018, 2016 02, not In March 2016, 2016 09, Compensation - Stock Compensation (Topic 718 2016 09” 2016 09 2016 09 December 15, 2016, 2016 09 not In August 2016, 2016 15, Statement of Cash Flows (Topic 230 2016 15” 2016 15 eight 2016 15 December 15, 2017, 2016 15 not In October 2016, 2016 16, Income Taxes (Topic 740 2016 16” 2016 16 third 2016 16 December 15, 2017, 2016 16 not There are no not

Note 3 - Allowance for Doubtf19

Note 3 - Allowance for Doubtful Accounts for Trade Accounts Receivable (Tables)	9 Months Ended
	Jul. 31, 2017
Notes Tables
Summary of Changes in the Allowance for Doubtful Accounts for Trade Accounts Receivable [Table Text Block]	Nine Months Ended July 31, 2017 2016 Balance at beginning of period $ 74,266 $ 63,011 Bad debt expense 6,161 23,074 Losses charged to allowance (4,729 ) — Recoveries added to allowance 129 — Balance at end of period $ 75,827 $ 86,085

Note 4 - Inventories (Tables)

Note 4 - Inventories (Tables)	9 Months Ended
	Jul. 31, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	July 31, October 31, 2017 2016 Finished goods $ 5,780,827 $ 4,657,779 Work in process 3,144,780 2,591,885 Raw materials 9,083,691 7,515,717 Production supplies 345,627 258,585 Total $ 18,354,925 $ 15,023,966

Note 5 - Product Warranties (Ta

Note 5 - Product Warranties (Tables)	9 Months Ended
	Jul. 31, 2017
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Nine Months Ended July 31, 2017 2016 Balance at beginning of period $ 70,000 $ 130,000 Liabilities accrued for warranties issued during the period 176,113 117,437 Warranty claims and costs paid during the period (93,565 ) (112,724 ) Changes in liability for pre-existing warranties during the period 2,452 (59,713 ) Balance at end of period $ 155,000 $ 75,000

Note 6 - Long-term Debt and N22

Note 6 - Long-term Debt and Note Payable to Bank (Tables)	9 Months Ended
	Jul. 31, 2017
Notes Tables
Schedule of Debt [Table Text Block]	July 31, October 31, 2017 2016 Virginia Real Estate Loan ($6.5 million original principal) payable in monthly installments of $31,812, including interest (at 3.95%), with final payment of $3,644,211 due May 1, 2024 $ 5,005,791 $ 5,165,785 North Carolina Real Estate Loan ($2.24 million original principal) payable in monthly installments of $10,963, including interest (at 3.95%), with final payment of $1,255,850 due May 1, 2024 1,725,122 1,780,209 Total long-term debt 6,730,913 6,945,994 Less current installments 248,212 294,214 Long-term debt, excluding current installments $ 6,482,701 $ 6,651,780

Note 8 - Net Income (Loss) Pe23

Note 8 - Net Income (Loss) Per Share (Tables)	9 Months Ended
	Jul. 31, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended Nine months ended July 31, July 31, 2017 2016 2017 2016 Net income (loss) attributable to OCC (numerator) $ (295,160 ) $ 188,163 $ (1,150,009 ) $ (2,539,980 ) Shares (denominator) 6,490,205 7,115,389 6,538,621 6,403,352 Basic and diluted net income (loss) per share $ (0.05 ) $ 0.03 $ (0.18 ) $ (0.40 )

Note 2 - Stock Incentive Plan24

Note 2 - Stock Incentive Plans and Other Share-based Compensation (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016	Mar. 28, 2017
Allocated Share-based Compensation Expense		$ 237,663	$ 145,459	$ 668,676	$ 659,796
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings				28,085
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition				3 years 36 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 2,500,000		$ 2,500,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				391,211
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period				104,692
The 2017 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		566,000		566,000
Common Stock, Capital Shares Reserved for Future Issuance		500,000		500,000		500,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant, Transferred from Previous Plan		36,903		36,903
Shares Paid for Tax Withholding for Share Based Compensation				60,689
The 2017 Stock Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	31,380

Note 3 - Allowance for Doubtf25

Note 3 - Allowance for Doubtful Accounts for Trade Accounts Receivable - Summary of Changes in the Allowance for Doubtful Accounts for Trade Accounts Receivable (Details) - USD ($)	9 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Balance	$ 74,266	$ 63,011
Bad debt expense	6,161	23,074
Losses charged to allowance	(4,729)
Recoveries added to allowance	129
Balance	$ 75,827	$ 86,085

Note 4 - Inventories - Componen

Note 4 - Inventories - Components of Inventories (Details) - USD ($)	Jul. 31, 2017	Oct. 31, 2016
Finished goods	$ 5,780,827	$ 4,657,779
Work in process	3,144,780	2,591,885
Raw materials	9,083,691	7,515,717
Production supplies	345,627	258,585
Total	$ 18,354,925	$ 15,023,966

Note 5 - Product Warranties (De

Note 5 - Product Warranties (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016	Oct. 31, 2016	Oct. 31, 2015
Standard and Extended Product Warranty Accrual	$ 155,000	$ 75,000	$ 155,000	$ 75,000	$ 70,000	$ 130,000
Product Warranty Expense	96,927	$ 34,042	178,565	$ 57,724
Accounts Payable and Accrued Liabilities [Member]
Standard and Extended Product Warranty Accrual	$ 155,000		$ 155,000		$ 70,000

Note 5 - Product Warranties - C

Note 5 - Product Warranties - Changes in Accrual for Product Warranties (Details) - USD ($)	9 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Balance at beginning of period	$ 70,000	$ 130,000
Liabilities accrued for warranties issued during the period	176,113	117,437
Warranty claims and costs paid during the period	(93,565)	(112,724)
Changes in liability for pre-existing warranties during the period	2,452	(59,713)
Balance at end of period	$ 155,000	$ 75,000

Note 6 - Long-term Debt and N29

Note 6 - Long-term Debt and Note Payable to Bank (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Jul. 31, 2017	Apr. 27, 2017	Apr. 26, 2017	Oct. 31, 2016	Apr. 26, 2016
BNC [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity					$ 7
Long-term Line of Credit	$ 5.4
Line of Credit Facility, Remaining Borrowing Capacity	$ 1.6
BNC [Member] | Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	2.50%
BNC [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Interest Rate, Effective Percentage	3.72%
BNC [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Effective Percentage	2.50%
Virginia Real Estate Loan [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.95%			3.95%
Virginia Real Estate Loan [Member] | BNC [Member]
Debt Instrument, Interest Rate, Stated Percentage		3.95%	3.75%
The Commercial Loan [Member] | BNC [Member] | Revolving Credit Facility [Member]
Long-term Line of Credit				$ 5
Line of Credit Facility, Remaining Borrowing Capacity				$ 2

Note 6 - Long-term Debt and N30

Note 6 - Long-term Debt and Note Payable to Bank - Long-term Debt (Details) - USD ($)	Jul. 31, 2017	Oct. 31, 2016
Long-term Loan	$ 6,730,913	$ 6,945,994
Less current installments	248,212	294,214
Long-term debt, excluding current installments	6,482,701	6,651,780
Virginia Real Estate Loan [Member]
Long-term Loan	5,005,791	5,165,785
North Carolina Real Estate Loan [Member]
Long-term Loan	$ 1,725,122	$ 1,780,209

Note 6 - Long-term Debt and N31

Note 6 - Long-term Debt and Note Payable to Bank - Long-term Debt (Details) (Parentheticals) - USD ($)	9 Months Ended	12 Months Ended
	Jul. 31, 2017	Oct. 31, 2016
Virginia Real Estate Loan [Member]
Original principal	$ 6,500,000	$ 6,500,000
Monthly installments	$ 31,812	$ 31,812
Debt Instrument, Interest Rate, Stated Percentage	3.95%	3.95%
Final payment	$ 3,644,211	$ 3,644,211
Maturity date	May 1, 2024	May 1, 2024
North Carolina Real Estate Loan [Member]
Original principal	$ 2,240,000	$ 2,240,000
Monthly installments	$ 10,963	$ 10,963
Debt Instrument, Interest Rate, Stated Percentage	3.95%	3.95%
Final payment	$ 1,255,850	$ 1,255,850
Maturity date	May 1, 2024	May 1, 2024

Note 8 - Net Income (Loss) Pe32

Note 8 - Net Income (Loss) Per Share (Details Textual) - shares	3 Months Ended	9 Months Ended
	Jul. 31, 2017	Jul. 31, 2017	Jul. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	862,895	738,430	681,570

Note 8 - Net Income (Loss) Pe33

Note 8 - Net Income (Loss) Per Share - Components of Reconciliation of Numerators and Denominators Net Loss Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Net income (loss) attributable to OCC (numerator)	$ (295,160)	$ 188,163	$ (1,150,009)	$ (2,539,980)
Shares (denominator) (in shares)	6,490,205	7,115,389	6,538,621	6,403,352
Basic and diluted net income (loss) per share (in dollars per share)	$ (0.05)	$ 0.03	$ (0.18)	$ (0.40)

Note 9 - Segment Information 34

Note 9 - Segment Information and Business and Credit Concentrations (Details Textual)	3 Months Ended		9 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Jul. 31, 2017	Jul. 31, 2016
Number of Reportable Segments			1
Customer Concentration Risk [Member] | Sales Revenue, Net [Member]
Concentration Risk, Number of Customers	1	1	1	1
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Customer One [Member]
Concentration Risk, Percentage	15.80%	16.30%	16.30%	14.20%

Note 10 - Non-controlling Int35

Note 10 - Non-controlling Interest (Details Textual)	Aug. 01, 2008
Centric Solutions LLC [Member]
Business Acquisition, Percentage of Voting Interests Acquired	70.00%