ROANOKE, VA, October 13, 2006 -- Optical Cable Corporation (Nasdaq GM: OCCF) today announced that it has received the inaugural Compass Award for Excellence in International Trade from the Commonwealth of Virginia. The award was presented to Optical Cable at the 58th Annual Virginia Conference on World Trade by the Honorable Patrick O. Gottschalk, Secretary of Commerce and Trade for the Commonwealth of Virginia.
The Compass Award for Excellence in International Trade was created by the Virginia Economic Development Partnership (VEDP) to honor a Virginia-based business that has excelled in the arena of global commerce. The criteria for the award are that the recipient has increased its export and international profile while promoting the best interests of its employees and surrounding community, and that the recipient has contributed to the overall economic health and quality of life of Virginians while increasing the Commonwealth's profile in the international export arena in a positive light.
"Optical Cable is extremely honored to be the recipient of the inaugural Virginia Compass Award," stated Mr. Neil Wilkin, President and CEO of Optical Cable Corporation. "This accolade is a tribute to our sales team's success in targeting opportunities outside of the United States and a testament to the supportive business environment fostered by the Virginia Economic Development Partnership. I want to thank our sales team for their outstanding efforts and thank the VEDP for supporting Optical Cable in the international marketplace."
"The Virginia Economic Development Partnership has made significant contributions to Optical Cable's international marketing efforts and sales success," stated Mr. Michael Newman, Vice President of Sales—International for Optical Cable Corporation. "The VEDP's dedicated and talented staff has been a tremendous resource for us. We expect to continue to work closely with the VEDP as we take steps to further increase our presence in key markets outside the United States."
"Optical Cable Corporation demonstrates all of the qualities for which the Compass Award was designed," said Mr. Paul Grossman, Director of International Trade and Investment for the Virginia Economic Development Partnership. "The company is a model representative of Virginia in the international community. We are proud that Optical Cable calls Virginia its home."
Company Information
Optical Cable Corporation is a leading manufacturer of fiber optic cables primarily sold into the enterprise market, and the premier manufacturer of military ground tactical fiber optic cable for the U.S. military. Founded in 1983, Optical Cable Corporation pioneered the design and production of fiber optic cables for the most demanding military field applications, as well as fiber optic cables suitable for both indoor and outdoor use. The Company's current broad product offering is built on the evolution of these fundamental technologies, and is designed to provide end-users with fiber optic cables that are easy and economical to install, provide a high degree of reliability and offer outstanding performance characteristics. Optical Cable Corporation sells its products worldwide for uses ranging from commercial and campus installations to customized products for specialty applications and harsh environments, including military applications. The Company manufactures its high quality fiber optic cables at its ISO 9001:2000 registered and MIL-STD-790F certified facility located in Roanoke, Virginia.
Further information about Optical Cable Corporation is available on the World Wide Web at www.occfiber.com.
FORWARD-LOOKING INFORMATION
This news release by Optical Cable Corporation (the "Company") may contain certain "forward‑looking" information within the meaning of the federal securities laws. The forward-looking information may include, among other information, (i) statements concerning the Company's outlook for the future, (ii) statements of belief, anticipation or expectation, (iii) future plans, strategies or anticipated events, and (iv) similar information and statements concerning matters that are not historical facts. Such forward-looking information is subject to risks and uncertainties that may cause actual events to differ materially from the Company's expectations. Factors that could cause or contribute to such differences include, but are not limited to, the level of sales to key customers, including distributors; timing of certain projects and purchases by key customers; the economic conditions affecting network service providers; corporate and/or government spending on information technology; actions by competitors; fluctuations in the price of raw materials (including optical fiber); the Company's dependence on a single manufacturing facility; the Company's ability to protect its proprietary manufacturing technology; market conditions influencing prices or pricing; the Company's dependence on a limited number of suppliers; an adverse outcome in litigation, claims and other actions, and potential litigation, claims and other actions against the Company; an adverse outcome in regulatory reviews and audits and potential regulatory reviews and audits; further adverse changes in laws and regulations associated with the extraterritorial income exclusion; adverse changes in state tax laws and/or positions taken by state taxing authorities affecting the Company; technological changes and introductions of new competing products; changes in end-user preferences of competing technologies, including copper cable and wireless, relative to fiber optic cable; economic conditions that affect the telecommunications sector, certain technology sectors or the economy as a whole; terrorist attacks or acts of war, particularly given the acts of terrorism against the United States and subsequent military responses by the United States, and any potential future military conflicts; changes in the level of military spending by the United States government; ability to retain key personnel; the Company's ability to successfully implement planned changes to its information technology systems and manufacturing processes; the impact of changes in accounting policies, including those by the Securities and Exchange Commission and the Public Company Accounting Oversight Board; the Company's ability to successfully comply with, and the cost of compliance with, the provisions of Section 404 of the Sarbanes-Oxley Act of 2002 or any revisions to that act which apply to the Company; impact of future consolidation among competitors and/or among customers adversely affecting the Company's position with its customers and/or our market position; actions by customers adversely affecting the Company in reaction to the expansion of the Company's product offering in any manner, including, but not limited to, by offering products that compete with its customers, and/or by entering into alliances with, and/or making investments in or with, parties that compete with and/or have conflicts with customers of the Company; adverse reactions by customers, vendors or other service providers to unsolicited proposals regarding the acquisition of the Company by another company; the additional costs of considering and possibly defending the Company's position on such unsolicited proposals regarding the acquisition of us by another company;impact of weather or natural disasters in the areas of the world in which the Company operates and markets its products; changes in market demand, exchange rates, productivity, or market and economic conditions in the areas of the world in which the Company operates and markets its products and the Company's success in managing the risks involved in the foregoing. The Company cautions readers that the foregoing list of important factors is not exclusive and the Company incorporates by reference those factors included in current reports on Form 8‑K.
