Optical Cable Corp. (NASDAQ:OCC) Q3 2020 Earnings Conference Call - Final Transcript

Sep 10, 2020 • 10:00 am ET


Optical Cable Corp. (NASDAQ:OCC) Q3 2020 Earnings Conference Call - Final Transcript


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Good morning. My name is Maria, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Optical Cable Corporation Third Quarter 2020 Earnings Conference Call.

[Operator Instructions]

Thank you. Mr. Palash, you may begin your conference.

Aaron Palash

Great. Good morning, and thank you all for participating in Optical Cable Corporation's third quarter of fiscal year 2020 conference call.

By this time everyone should have a copy of the earnings press release issued earlier today. You can also visit www.occfiber.com for a copy. On the call with us today are Neil Wilkin, President and Chief Executive Officer of OCC; and Tracy Smith, Senior Vice President and Chief Financial Officer.

Before we begin, I'd like to remind everyone that this call may contain forward-looking statements that involve risks and uncertainties. The actual future results of Optical Cable Corporation may differ materially due to a number of factors and risks including, but not limited to those factors referenced in the forward-looking statements section of this morning's press release. These cautionary statements implies to the content of the Internet webcast on www.occfiber.com, as well as today's call.

With that, I'd like to turn the call over to Neil Wilkin. Neil, please begin.

Neil D. Wilkin

Thank you, Aaron, and good morning, everyone.

I will begin the call today with a few opening remarks. Tracy will then review the third quarter results for the three-month and nine-month periods ended July 31st, 2020 in some additional detail. After Tracy's remarks, we will answer as many of your questions as we can; as is our normal practice we will only take questions from analysts and institutional investors during the Q&A session. However, we also offer other shareholders the opportunity to submit questions in advance of our earnings call. Instructions regarding such submissions are included in our press release announcing the date and time of our call today.

2020 continues to be a challenging year for all of us. I want to thank the OCC team for its continued diligence in adhering to the precautions we have in place to keep OCC, COVID-free. It is through this diligence both at work and at home that we will continue to remain safe and healthy. We've taken a number of steps to ensure the health and safety of our employees and their families and we've been able to mitigate the impact of COVID-19 on our employees and on day-to-day operations, which we have continued uninterrupted at all three of our locations at a -- but at lower production volumes.

As I mentioned in our second quarter conference call, OCC is obligated and continues to operate during COVID-19 pandemic because of our workforce is classified as a defense industrial-based essential critical workforce -- infrastructure workforce, under the guidelines from the U.S. Department of Defense and an essential critical infrastructure workforce under the guidelines of the U.S. Department of Homeland Security, Cybersecurity and Infrastructure Security Agency.

This is something that we are deeply humbled by and is a responsibility