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Clearfield Inc. (CLFD)

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Clearfield, Inc. manufactures and sells telecommunications equipment and products in the United States. Its products include fiber distribution systems, optical components, outside plant cabinets, and fiber and copper cable assemblies. The fiber distribution systems are fiber distribution panels and cable management systems that are designed to reduce installation time and support a range of panel configurations, densities, connectors, and adapters that can be utilized on a stand-alone basis or integrated into the panel system. The company packages optical components for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation to seamlessly integrate with the fiber distribution products in the central office and outside plant environments. It serves communication service providers, including fiber-to-the-home, enterprise, and original equipment manufacture markets. The company was founded in 1979. It was formerly known as APA Optics, Inc. and changed its name to APA Enterprises, Inc. Further, the company changed its name to Clearfield, Inc. in January 2008. Clearfield, Inc. is headquartered in Plymouth, Minnesota.


Clearfield, Inc. Reports Quarterly Performance

Economic conditions slow momentum; gross margin gains and ongoing strategic investments position Company for future opportunities



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CLFD 2.00 -0.10
Chart for Clearfield, Inc.
Press Release Source: Clearfield, Inc. On Thursday January 28, 2010, 11:00 am


  • Net Sales:

$4.9 million, down 17% from previous year

  • Gross Profit:

$1.7 million, down 16% from previous year

  • Gross Margin:

34.4%, up from 34.0% in previous year

  • Net Loss:


  • Net loss per share:



Clearfield, Inc. (NASDAQ: CLFD - News) today announced results for the first fiscal quarter of 2010 which ended December 31, 2009. Revenue for the quarter was $4,943,000 in comparison to $5,933,000 for the quarter ended December 31, 2008, a decrease of 17 percent. Gross profit for the first quarter of fiscal 2010 was $1,702,000 in comparison to $2,014,000 for the first quarter for fiscal 2009, a decrease of 16 percent. The Company reported a net loss of $160,000 for the first quarter of fiscal 2010, or $.01 per share, compared to income of $217,000, or $.02 per share, for the first fiscal quarter of 2009.

Revenue decreased in the broadband and commercial data networks market as well as the contract manufacturing market. Revenue in the broadband and commercial data networks market was $4.1 million in the first quarter of fiscal 2010, down from $4.7 million in the previous year’s first quarter. The revenue decrease was primarily associated with decreased demand from a single distributor in the Eastern region of the U.S. Revenue from that distributor accounted for 19% of total quarter revenue for the first quarter of fiscal 2010 in comparison to 25% for the first quarter for fiscal 2009. This decrease overshadowed stable revenue performance in the Midwest and revenue gains in regions of the U.S. where the Company has invested in additional sales personnel in recent quarters. Revenue associated with contract manufacturing, principally copper cable assembles produced to the design specifications of OEM’s outside of the telecommunications market, also contributed to the overall quarterly revenue decline, as revenue to that market was $814,000 for the first quarter of fiscal 2010 down from $1.1 million in the first quarter for fiscal 2009.

In the first fiscal quarter of 2010, gross margins improved nearly one half of one percent to 34.4% from the same quarter of last fiscal year. The year-over-year improvement is the result of material cost improvements and manufacturing efficiency.

Operating expenses were $1.9 million, an increase of 5% from $1.8 million in the same quarter 2009. The Company continues to invest in revenue growth, with the hiring of field sales personnel along with product and market managers.

Comments on Operations

“Our recent revenue performance is indicative of a market that is hampered by economic conditions,” explains Cheri Beranek, President and Chief Executive Officer of Clearfield. “While our largest customers continue to offer kudos to our product line and have told us they remain committed to the return on investment they expect from the FTTH marketplace, the availability of capital and funding to our customers has slowed some major initiatives in some of our historically strongest markets.”

“We are just beginning to see the initial grant and loan awards from the American Recovery and Reinvestment Act. We are actively tracking both award winners and applications that are still under review. However, grant and loan award recipients are just initiating their Requests For Vendor Quotation and we do not expect them to begin receiving funds until later this spring.”

“During this time, we are continuing to make strategic investments in sales personnel and marketing initiatives to broaden our reach within our markets. In addition, we are aggressively pursuing new products that will allow us to enter new markets and address an expanding range of customer requirements,” concluded Beranek.

About Clearfield, Inc

Clearfield, Inc. designs and manufactures the FieldSmart Fiber Management Platform, which includes its latest generation FieldSmart Fiber Crossover Distribution System (FxDS), FieldSmart Fiber Scalability Center (FSC) and FieldSmart Fiber Delivery Point (FDP) series. The FxDS, FSC and FDP product lines support a wide range of panel configurations, densities, connectors and adapter options, and are offered alongside an assortment of passive optical components. Clearfield provides a complete line of fiber and copper assemblies for inside plant, outside plant and access networks. Clearfield is a public company, traded on Nasdaq:CLFD.

Forward-Looking Statements

Forward-looking statements contained herein are made pursuant to the safe harbor provisions of the Private Litigation Reform Act of 1995. These statements are based upon the Company's current expectations and judgments about future developments in the Company's business. Certain important factors could have a material impact on the Company's performance, including, without limitation the effect of the significant downturn in the U.S. economy on Clearfield’s customers; the impact of the American Recovery and Reinvestment Act or any other legislation on customer demand and purchasing patterns; cyclical selling cycles; need to introduce new products and effectively compete against competitive products; dependence on third-party manufacturers; limited experience in manufacturing, reliance on key customers; rapid changes in technology; the negative effect of product defects; the need to protect its intellectual property; the impact on its financial results or stock price of its ability to use its deferred tax asset, consisting primarily of net operating loss carryforwards, to offset future taxable income; the valuation of its goodwill and the effect of its stock price, among other factors, on the evaluation of goodwill; and other factors set forth in Clearfield’s Annual Report on Form 10-K for the year ended September 30, 2009 as well as other filings with the Securities and Exchange Commission. The Company undertakes no obligation to update such statements to reflect actual events.




        Three Months Ended
        December 31,
        2009   2008
Revenues       $ 4,942,667     $ 5,933,287  
Cost of sales         3,240,959       3,919,079  
Gross profit         1,701,708       2,014,208  
Operating expenses            
Selling, general and administrative         1,889,615       1,804,978  
Income (loss) from operations         (187,907 )     209,230  
Other income (expense)            
Interest income         38,056       31,750  
Interest expense         (584 )     (1,906 )
Other income         14,515       13,644  
          51,987       43,488  
Income before income taxes         (135,920 )     252,718  
Income tax expense         23,761       35,231  
Net income (loss)       $ (159,681 )   $ 217,487  
Net income (loss)per share:            
Basic         ($.01 )   $ .02  
Diluted         ($.01 )   $ .02  
Weighted average shares outstanding:            
Basic         11,977,266       11,938,131  
Diluted         11,977,266       11,938,131  



        December 31, 2009   September 30, 2009
Current Assets            
Cash and cash equivalents       $ 4,375,289     $ 4,731,735  
Short-term investments         1,153,566       2,108,566  
Accounts receivable, net         1,739,721       2,723,414  
Inventories         1,241,314       1,153,862  
Other current assets         217,376       180,635  
Total current assets         8,727,266       10,898,212  
Property, plant and equipment, net         1,255,763       1,319,492  
Other Assets            
Long-term investments         3,876,000       2,840,000  
Goodwill         2,570,511       2,570,511  
Deferred taxes –long term         2,209,745       2,231,990  
Other         557,921       568,554  
Total other assets         9,214,177       8,211,055  
Total Assets       $ 19,197,206     $ 20,428,759  
Liabilities and Shareholders’ Equity            
Total current liabilities         1,376,749       2,493,006  
Deferred rent         86,068       87,942  
Total Liabilities         1,462,817       2,580,948  
Shareholders’ Equity            
Common stock         119,788       119,746  
Additional paid-in capital         52,418,356       52,372,139  
Accumulated deficit         (34,803,755 )     (34,644,074 )
Total shareholders’ equity         17,734,389       17,847,811  
Total Liabilities and Shareholders’ Equity       $ 19,197,206     $ 20,428,759  




 Clearfield, Inc.
Cheryl P. Beranek, 763-476-6866
Chief Executive Officer and President

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CLFD and GLW(Corning)10 year comparison chart:

more info to come...

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Current Price
Bid Ask Day's Range
CLFD News: Statement of Changes in Beneficial Ownership (4) 08/26/2016 01:04:48 PM
CLFD News: Statement of Changes in Beneficial Ownership (4) 08/23/2016 06:26:38 PM
CLFD News: Statement of Changes in Beneficial Ownership (4) 08/19/2016 04:16:24 PM
CLFD News: Statement of Changes in Beneficial Ownership (4) 08/17/2016 06:29:39 PM
CLFD News: Statement of Changes in Beneficial Ownership (4) 08/17/2016 06:25:16 PM
#685   Fiber optics is the future of communication. I jhamlin 10/29/15 02:56:28 AM
#684   More insider loading by Roth. I would say Eyeminute2winnit 05/08/14 02:08:49 PM
#683   Insider buying on the form 4. POS could cannaman 04/29/14 05:01:21 PM
#682   Google fiber possibly expanding to 34 cities; SymphonicDelight 02/23/14 07:31:04 AM
#681   it has a long way to go….just beginning. thevi 02/11/14 08:25:11 PM
#680   CLFD...Still far can this go? crus1 02/11/14 07:42:48 PM
#679   CLFD yes crus1, beautiful company here making the DIG4SLVR 12/31/13 05:30:23 PM
#678   If I recall correctly, CLFD hit 4 bucks crus1 12/31/13 01:14:35 PM
#677   Clfd wow to think two years ago, maybe DIG4SLVR 12/27/13 01:12:06 PM
#676   What a beast this stock has been DIG4SLVR 11/15/13 11:35:41 AM
#675   CLFD on another run, getting noticed for all spec machine 11/13/13 11:23:24 AM
#674   I member this under a buck.Always had faith DF 11/04/13 01:00:43 PM
#673   Clfd super impressed here DIG4SLVR 10/18/13 02:23:30 PM
#672   CLFD moving in the right direction. Maybe The Other Guy 10/18/13 12:14:54 PM
#671   Hot digity DIG4SLVR 10/17/13 02:00:14 PM
#670   CLFD great article today DIG4SLVR 10/10/13 04:38:05 PM
#669   One month, three month and six month charts The Other Guy 09/27/13 04:15:00 PM
#668   CLFD is a beast DIG4SLVR 09/25/13 11:00:00 AM
#667   CLFD still has room to climb. My The Other Guy 07/18/13 08:18:03 AM
#666   I had some CLFD in an IRA account spec machine 07/15/13 11:07:34 AM
#665   Today's closing @12.15 answered your question, i presume. lol. crus1 07/08/13 07:32:01 PM
#664   CLFD is 11.50ish the high for this stock? jdc 07/08/13 12:21:03 PM
#663   Here is an older SA article, but worth crus1 06/10/13 08:52:58 AM
#662   CLFD I knew I should have been buying DIG4SLVR 06/10/13 12:06:53 AM
#661   I agree. :) Pcdoom2000 04/29/13 07:13:41 PM
#660   Keep an eye on insider buys. Roth has tsoprano-1 04/29/13 07:08:37 PM
#659   Talking to myself. Nice volume today. Keep Pcdoom2000 04/29/13 06:40:29 PM
#658   Nice report today. Better than I expected. Pcdoom2000 04/25/13 06:03:46 PM
#657   Looking for good rev growth. Don't know about tsoprano-1 04/24/13 06:57:04 PM
#656   Clearfield’s Second Quarter of Fiscal 2013 Earnings Report Pcdoom2000 04/24/13 04:42:36 PM
#655   I think if this stock can move over Pcdoom2000 01/06/13 12:05:30 PM
#654   52 week low today haven't had a chance DIG4SLVR 04/26/12 07:08:46 PM
#653   CLFD.. $4.17.. Earnings do more than disapoint.. There 10 bagger 04/26/12 10:46:49 AM
#652   <<< $CLFD Links! >>> ~ MAC's Quick DD Penny Roger$ 04/26/12 07:44:25 AM
#651   ~ Thursday! $CLFD ~ Q1 Earnings posted, pending Penny Roger$ 04/26/12 07:43:35 AM
#650   CLFD.. $5.00 10 bagger 04/11/12 08:02:05 PM
#649   Hmmm even went down a hair lower, markets DIG4SLVR 04/11/12 01:39:09 PM
#648   Going back to text that bottom @ $5.15 DIG4SLVR 03/01/12 10:32:55 AM
#647   Theres a $45k slap DIG4SLVR 02/29/12 11:30:33 AM
#646   Fill the gap and up to 8+$ DIG4SLVR 01/26/12 10:17:45 PM
#645   Clearfield, Inc. Reports Fiscal 2012 1st Quarter Results 10 bagger 01/26/12 10:08:30 AM
#644   yes I was and have it in #20.. hank 10 bagger 01/26/12 09:55:43 AM
#643   $16 - Earnings reaction is pretty strong. CPTMatt 01/26/12 09:48:35 AM
#642   Well great buy in op here.....this will be DIG4SLVR 01/26/12 09:47:09 AM
#641   $6.85 Clearfield, Inc. Reports Fiscal 2012 1st 10 bagger 01/26/12 09:30:52 AM
#640   WOW CLFD moving up up up DIG4SLVR 01/03/12 03:31:49 PM
#639   CLFD..$6.23.. West Kentucky and Tennessee Telecommunications Cooperative 10 bagger 11/21/11 09:18:13 AM
#638   I'm a MN resident had this article in DIG4SLVR 11/15/11 12:21:16 PM
#637   *touches wood once more* I have had valleyboi0 11/14/11 10:45:18 AM
#636   CLFD..$5.46.. WOW.. Clearfield, Inc. Reports Fiscal Year 2011 10 bagger 11/10/11 09:24:07 AM