Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Well ... never got the rest only a couple hundred ..(I iznt greedy) but wow ... ... there is suddenly ... volume .. in size ...
So .. like ... where is everybody? .. nobody like quality anymore??
P.S. T.Y. Hank ...
Parial fill .. (partially) in again at $2.51 ...
CLFD 2.53 so fast ... ?
Cant help but feel that this may go lower yet ..
Couldn't help myself yesterday, ... just when I was about to pull the trigger in the morning, I paused .. and instead took the double + on INIX .. I just couldn't resist
Waiting again now....
Waiting now .. cant PM BTW but thats the zone I was thinking as well ..
Excellent prognosis there Hank. (!) Today is definately buy territory.
** Eyes Peeled. **
CLFD.. Breaks $3.00
Now trading at $2.92.. Keep your powder dry.. Only $0.70 more to the downside and it's time to RELOAD.. hank
CLFD..$3.00
Sales this Qtr. were down slightly which I believe was a funtion of order completion rather than lack of orders.. The MOMO crowd took CLFD to above $6.00 and are still suffering from hope to get even blues.. Fair value in my opinion is $2.60 and I think we will see prices below that level in the next few weeks.. I am a buyer in size again but not until the tax selling season stops.. Large bids that have been put in at the $3.00 level have caused a $0.45 to $0.75 pop but I have not particated in any of them.. Today's bid looks as though it was actually filled and there are few shares wanted at the $3.00 level which when broken should cause a close today below $2.75.. IMO.. hank
CLFD - about to go sub 3.00 ?? getting ready to buy here .
CLFD.. $3.67.. 570,000 bid for.. Mis print..???
3.66 -0.01 (-0.27%) 3.66 x570,400 3.67 x400 3.60 - 3.73 38,874
CLFD.. $3.66..
Clearfield, Inc. Reports Annual Growth and Profitability
Business Wire - Nov 16 at 11:00 NONE
Company Symbols: NASDAQ-NMS:CLFD
Net Income of 31 Cents Per Share for Fiscal Year Ended September 30, 2009
-- Net Revenues: $24.9M, up 6% from previous year
-- Gross Profit: $8.9M, up 13% from previous year
-- Income from Operations: $1.2M, up 21.5% from previous year
-- Net Income: $3.8M, or 31 cents per share, improved from income of $1.5M
from previous year, or diluted 13 cents per share
I sold my CLFD out of my IRA's today @ $3.70 on the 4'th QTR.. shortfall.. The story is still intact but I believe that the low $2's could now be a reentry price.. GLTA.. hank
Fourth Quarter Reporting
Revenue for the fourth quarter of fiscal 2009 was $6,619,000 an 8% reduction from $7,188,000 for the fourth quarter of fiscal 2008. Income from operations was $332,000 compared to $715,000 for the same period for the prior year. The net income tax benefit for the fourth quarter is $2,472,000 (or $0.20 per diluted share). Fiscal fourth quarter income before taxes was $378,000 compared to $777,000 for the prior year. The decline in revenue for the quarter was primarily attributable to the slowdown in demand from customers purchasing contract manufacturing services from the Company.
MINNEAPOLIS--(BUSINESS WIRE)-- Clearfield, Inc. (Nasdaq:CLFD) today announced results for the fourth quarter and fiscal year ended September 30, 2009. The Company reported net income of $3,785,000 ($0.31 per diluted share) for fiscal year 2009 compared to $1,514,000 ($0.13 per diluted share) for fiscal 2008. Net income consisted of $1,211,000 in income from operations, compared to $997,000 in fiscal year 2008, an increase of 22%, as well as $201,000 in interest and other income, which compared to $313,223 in fiscal year 2008. Additionally, the reversal of a portion of the valuation allowance associated with the Company's deferred tax assets, consisting primarily of net operating loss carry forwards, added approximately $2,372,000 in income for the fourth quarter of fiscal 2009. In fiscal year 2008, the Company recorded a valuation allowance against the full amount of the deferred tax assets due to uncertainties related to its ability to utilize it's deferred tax assets.
Revenue for fiscal year 2009 was $24,945,000 in comparison to $23,494,000 for fiscal year 2008, an increase of 6%. Gross profit was $8,871,000 for fiscal year 2009 in comparison to $7,852,000 for the prior year period, an increase of 13%. Gross profit as a percentage of revenue for the year ended September 30, 2009 was 35.6%, up 2.2% from the year ended September 30, 2008. The increase in gross profit was the result of our ongoing efforts to improve manufacturing efficiencies, global sourcing strategies as well as an increasing percentage of our revenues coming from the delivery of branded products to the broadband service provider community.
Cash and investments at September 30, 2009 total $9,680,000 compared to $7,478,000 at September 30, 2008, an increase of $2,202,000.
Revenue by Customer Mix
Revenues to commercial data networks and broadband service providers who are responding to the global demand for fiber to the premise (FTTp) connectivity amounted to $21,390,000, an increase of 16.5% from the previous year. Revenues associated with contract manufacturing for original equipment manufacturers outside of the telecommunications market were $3,555,000, down 31% from the previous year.
Reversal of Deferred Tax Valuation Allowance
During the fiscal year, Clearfield reversed a portion of its valuation allowance on its deferred tax assets in the amount of $2,464,000. This recognition was the result of an evaluation of our historical net operating losses and our more recent history of nine consecutive quarters of profitability. The Company assessed the likelihood that its deferred tax assets would be recovered from future taxable income and, in the fourth quarter of fiscal year 2009, determined that recovery was more likely than not based upon the totality of the circumstances. The amount of the valuation allowance reversal was based on management's estimates of taxable income by jurisdiction and the period over which the Company believes deferred tax assets will be recoverable.
Fourth Quarter Reporting
Revenue for the fourth quarter of fiscal 2009 was $6,619,000 an 8% reduction from $7,188,000 for the fourth quarter of fiscal 2008. Income from operations was $332,000 compared to $715,000 for the same period for the prior year. The net income tax benefit for the fourth quarter is $2,472,000 (or $0.20 per diluted share). Fiscal fourth quarter income before taxes was $378,000 compared to $777,000 for the prior year. The decline in revenue for the quarter was primarily attributable to the slowdown in demand from customers purchasing contract manufacturing services from the Company.
Comments on Operations and Market Conditions
"Fiscal year 2009 revenue and income from operations reflect the Company's second consecutive year of growth and profitability resulting from increasing acceptance of the Clearview Cassette and the associated FieldSmart fiber management platform," commented Cheri Beranek, President and CEO of Clearfield.
"A number of companies in the broadband markets are experiencing a market slowdown that many have attributed to the delay of funding through the American Recovery and Reinvestment Act," continued Beranek. "Clearfield has not been immune to these conditions. A very limited portion of these funds have currently been released. While we remain confident of the Company's position to gain market share in fiscal year 2010, we anticipate that the broadband connectivity market during the early stages of this funding period may be sluggish."
"Clearfield remains focused on two primary directives," Beranek said. "We are committed to enhancing our global competitiveness by expanding our presence in the FTTp marketplace. Our efforts are targeted at an expansion of our product portfolio and brand recognition. Secondly, our team is working tirelessly on improving our operating margins through the ongoing design improvements to our product to capture manufacturing efficiencies and the continuation of global sourcing strategies."
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. www.ClearfieldConnection.com
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 filings with the Securities and Exchange Commission. The Company undertakes no obligation to update such statements to reflect actual events.
Clearfield, Inc.
CONDENSED STATEMENT OF OPERATIONS (unaudited)
Three Months Ended Year Ended
September 30, September 30,
2009 2008 2009 2008
Revenues $ 6,618,907 $ 7,188,484 $ 24,944,837 $ 23,493,796
Cost of sales 4,264,713 4,659,503 16,073,817 15,641,961
Gross profit 2,354,194 2,528,981 8,871,020 7,851,835
Operating
expenses
Selling, general
and 1,991,843 1,813,598 7,628,495 6,854,934
administrative
Gain on disposal 30,794 - 31,144 -
of assets
2,022,637 1,813,598 7,659,639 6,854,934
Income from 331,557 715,383 1,211,381 996,901
operations
Interest income 41,164 51,052 124,922 268,063
Interest expense (925 ) (2,219 ) (5,676 ) (10,721 )
Other income 5,992 12,799 81,810 55,881
46,231 61,632 201,056 313,223
Income before 377,788 777,015 1,412,437 1,310,124
income taxes
Income tax
(expense) 2,471,565 (22,355 ) 2,372,472 (93,303 )
benefit
Net income from
continuing 2,849,353 754,660 3,784,909 1,216,821
operations
Total income
from - - - 297,439
discontinued
operations
Net income $ 2,849,353 $ 754,660 $ 3,784,909 $ 1,514,260
Net income per
share:
Continuing $ 0.24 $ 0.06 $ 0.32 $ 0.10
operations
Discontinued $ 0.00 $ 0.00 $ 0.00 $ 0.03
operations
Basic $ 0.24 $ 0.06 $ 0.32 $ 0.13
Diluted $ 0.23 $ 0.06 $ 0.31 $ 0.13
Weighted average
shares
outstanding:
Basic 11,950,071 11,938,131 11,941,116 11,938,131
Diluted 12,362,555 11,938,131 12,046,539 11,938,131
Clearfield, Inc
CONDENSED BALANCE SHEET (unaudited -continued)
September 30, September 30,
2009 2008
Assets
Cash and cash equivalents $ 4,731,735 $ 4,333,709
Short-term investments 2,108,566 -
Accounts receivable, net 2,723,414 2,533,447
Inventories 1,153,862 2,088,769
Other current assets 180,635 115,344
Property, plant and equipment, net 1,319,492 1,604,202
Long-term Investments 2,840,000 3,036,000
Deferred taxes-long term 2,231,990 -
Other assets 3,139,065 3,287,666
Total assets $ 20,428,759 $ 16,999,137
Liabilities
Current liabilities $ 2,493,006 $ 3,116,894
Long-term liabilities 87,942 289,626
Shareholders' equity
Common stock 119,746 119,381
Additional paid-in capital 52,372,139 52,166,219
Accumulated deficit (34,644,074 ) (38,428,983 )
Accumulated other comprehensive loss - (264,000 )
Total shareholders' equity 17,847,811 13,592,617
Total liabilities and shareholders' equity $ 20,428,759 $ 16,999,137
Source: Clearfield, Inc.
Thx Hank... On watch...
CLFD.. $4.00
Remember if it breaks and the MOMO's start bailing to have some bids in in the Mid 2's.. CLFD story is still intact.. hank
CLFD.. $4.58..Announcement..
Clearfield Announces the Modular and Scalable FieldSmart Fiber Crossover Distribution System (FxDS)
Clearfield, Inc. (NASDAQ: CLFD) announced the addition of the FieldSmart Crossover Fiber Distribution System (FxDS), a custom-configured system of fiber management components that reduces the cost of fiber deployment while maximizing ease of use and system density. Centered around Clearfield’s Clearview Cassette, which provides fully integrated fiber management within a 12-port footprint, the FieldSmart FxDS provides a modular and scalable solution, requiring only four SKUs to support hundreds of configurations. Users get the ultimate in fiber protection, where it is needed, without the added cost of unnecessary components. Scalable from 12 to 1728 ports across the network, the FxDS supports any application, anywhere.
The modular approach of the FxDS, which following the Clearview Cassette principles of fiber management, brings flexibility to network design. Fiber protection elements are added or removed depending on the network environment and the configuration desired.
Configuring the FieldSmart FxDS is Simple
Supporting on or off-frame splicing, the FieldSmart FxDS can be deployed anywhere from the inside plant through the outside plant of the network. The FxDS component can be configured for deployment as a stand-alone panel into an existing fiber frame, data cabinet or active outside plant cabinet. For the ultimate in inside plant density, at the lowest price point per port, the FxDS can be deployed as a dedicated frame. The building block elements of the FxDS include the Clearview Cassette, a frame kit, crossover bulkhead, front fiber protection block, and rear fiber protection block. Each element provides modularity of physical fiber protection into the environment that it is deployed.
Users have the option of purchasing this system fully-loaded or may utilize the grow-as-you-go approach, in which different building block elements are added as the number of homes served increases or take rates improve. Costs are contained because only the essential protection elements are added based upon the environment served.
“The FxDS reduces the cost of broadband deployments by removing unnecessary fiber protection elements without putting the physical fiber at risk,” said Johnny Hill, chief operating officer of Clearfield. “Because the FxDs is a modular platform, and is deployed as a common architecture throughout multiple environments, cost savings are multiplied throughout the network.”
Availability
The FxDS is currently shipping. Please contact your Clearfield representative for more information on ordering for your deployment needs.
About Clearview Cassette
As an “Any Application, Anywhere Multiplier,” the Clearview Cassette ensures that all the basic principles of fiber management are satisfied without exposure to environmental hazards or human interaction. Integrated cassette components fully nest into the cassette’s main housing to support any application or fiber type desired. Within the cassette, all fibers from the sub-assembly are slack-stored, bend radius protected, and secured against accidental physical damage from handling. Designed to handle the toughest operating environments, the Clearview Cassette provides flexibility and reliable performance in the access network, the central office and in the field.
The Clearview Cassette utilizes a clear outer housing allowing for quick and easy first step troubleshooting of unacceptable light conditions. Tool-less snap-together nesting covers and a removable 12-pack adapter plate allow for easy access to terminated sub-assemblies for maintenance and cleaning.
About Clearfield, Inc.
Clearfield, Inc. designs and manufactures the WaveSmart Platform of Powered Optical Signal products, including the WaveSmart PowerNode 1550 EDFA, and the FieldSmart Fiber Management Platform, which includes its latest generation FieldSmart Fiber 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.
More information about Clearfield, Inc., its products and its people can be found at www.ClearfieldConnection.com.
CLFD.. $3.98
Spring Valley Telephone Attributes Lower Cost of Fiber Deployment to Clearfield Fiber Management Products
Spring Valley Telephone (SVTEL) selected Clearfield, Inc. (NASDAQ: CLFD) products and services for its new fiber to the home (FTTH) deployment – citing lower costs and increased efficiency. SVTEL, which provides telecommunications services in west central Wisconsin, launched the first phase of the project in the spring of 2009.
SVTEL Plant Manager Steve Marek says the motivation for the complete fiber overhaul of their service area is customer-driven. “We want to address any and all bandwidth requirements our customers currently have and will have in the future. It’s important that we have a competitive advantage with our triple play offering of internet, video, and telephone.” Marek says one big benefit to the company is increased land line business. “Our intention is to regain customers that have given up their land lines and opted for cell phones. The triple play option will bring them back.”
The fact that Clearfield’s FieldSmart Fiber Management Platform is built upon a single architecture and could be custom-configured to SVTEL’s specifications was critical to the customer. Clearfield’s FieldSmart Fiber Distribution System (FDS), with its central office fiber distribution panels and accessories that allow for scalable capacity, forms the basis for the Spring Valley deployment. The company will be using the FieldSmart Fiber Scalability Center (FSC) for its outside plant cross-connect cabinets; Outside Plant (OSP) multi-fiber assemblies; OSP bend insensitive fiber pigtails, and Central Office fiber optic jumpers.
Core to SVTEL’s decision to use Clearfield was the ability to lower the operational costs of their deployment --- and life-long management of their network. “We were drawn to Clearfield’s Clearview Cassette and its patch and splice design. Because splicing is an integrated function within the Clearview Cassette, we were able to eliminate the use of fiber entrance cabinets in the central office. This saved us money – and space, which is huge. There’s a lot of efficiency and cost savings associated with this design,” said Marek.
Joel Odegaard, an HFC Network Services splicer working on the SVTEL project, concurs. "Clearfield products are a lot easier to work with. The prep time is literally cut in half. It cuts material costs. It cuts splicing costs, which means we’re up and running faster.”
Odegaard is also an advocate for the Clearfield savings associated with troubleshooting. “We save time and money just because the troubleshooting is faster. If we have one bad fiber on a competitor’s cabinet, there’s a huge process involved with finding and replacing it. With Clearfield, we just have to pull that one cassette. So for troubleshooting, it’s a time saver. And that’s a money saver for SVTEL.”
About Clearfield, Inc.
Clearfield, Inc. designs and manufactures the FieldSmart Fiber Management Platform, which includes its latest generation FieldSmart Fiber Distribution System (FDS), FieldSmart Fiber Scalability Center (FSC) and FieldSmart Fiber Delivery Point (FDP) series. The FDS, 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.
More information about Clearfield, Inc., its products and its people can be found at www.ClearfieldConnection.com.
CLFD.. $3.91..
It looks as though CLFD has traded another week of consolidation,, I still think CLFD will trade back into the $2's where it will again be a buy.. Great story that just got caught up with the MOMO group.. No news again to report from the company.. All have a good weekend and GLTA.. hank
CLFD..$3.96..
I put a couple of orders in for a free fall trade but not too large.. I don't want to be a bag holder in my trading account..hank
10/01/09 3:55 PM EDT Sell 1006 CLFD Executed @ $3.94 Details | Edit
10/01/09 3:55 PM EDT Sell 1100 CLFD Executed @ $3.94 Details | Edit
10/01/09 3:55 PM EDT Sell 200 CLFD Executed @ $3.94 Details | Edit
10/01/09 3:55 PM EDT Sell 82 CLFD Executed @ $3.94 Details | Edit
10/01/09 3:55 PM EDT Sell 500 CLFD Executed @ $3.94 Details | Edit
10/01/09 3:52 PM EDT Sell 1800 CLFD Executed @ $3.90222 Details | Edit
10/01/09 3:23 PM EDT Buy 1888 CLFD Executed @ $3.62 Details | Edit
10/01/09 3:13 PM EDT Buy 1800 CLFD Executed @ $3.72 Details | Edit
10/01/09 3:13 PM EDT Buy 1000 CLFD Executed @ $3.72 Details | Edit
Look at that 10% bounce .. .and i never caught it .. dang ...
Yep. Fer sher.. starting to look attractive again. Lets see how far before the bounce.
That's my read on it as well... still watching for unusual dips though for quick trading.
thx hank,im with you
CLFD.. $4.30..
I continue to sit on the sidelines without any trading position.. IMO is that it will take some time for the MOMO croud to unwind and there still is a lot of stock looking for breakeven prices..
I see nothing that indicates EPS will justify the price surge to $6.15 for the next couple of qtrs.. Long term all that own today will/should be made whole and I still believe long term CLFD will print prices of $10.00 or higher.. But there will be many bumps along the road.. The FUNDY's at present just do not much in the way of higher prices..hank
Quieting down now ... worth watching for a new entry if late-to-exit traders keep the pps trending south .. but this is not an easy read issue and so far, a good investment veh ...
*watching*
Excellent work.I watched each jump from afar, I was looking at the numbers you were looking at management.
Nice going here. Congrats Hank, myself and others. Somehow though, I cannot help but feel I have still left a considerable upside on the table... but alas .. take the profits
CLFD..$5.65..
Just sold out my trading account position on open orders from $5.26 to $5.60.. It was quite a ride and The fall from $5.20 to $3.60 on Thursday had a lot to do with my decision.. The trading position was as high as 85,000 shares at one point and today I sold 56,000 shares.. My IRA's each have 4888 shares and will not be sold.. If CLFD backs off some I will reenter again..
hank
still rollin my 2.00s, 5.59 goin~
CLFD..$5.03
This has been quite a ride.. hank
Nah... nothing so grandious IMO, just took off like a rocket yesterday and I fully expected any shorts and/or sellers to take notice and step in and remind us that they do this. Nothing goes straight up like that. I think the story is the same as well ... they are growing for sure but the market cap of late is kinda getting high, dont you think? At least in comparison with revs... JMO
I jumped back in at 3.90
CLFD.. $3.99..
It looks like the shit hit the fan..Don't understand why but agin we are trading over 1,300,000 shares.. This is a rough ride today I will admit and it sure shakes one's confidence.. But the story is still the same.. I think..
hank
CLFD news>>>>
Clearfield Announced as Finalist for 10th Annual Tekne Awards
Sep 17, 2009 2:00:00 PM
Copyright Business Wire 2009
View Additional ProfilesMHTA will recognize Minnesota's top technology companies, individuals at the Oct. 22 awards ceremony
MINNEAPOLIS--(BUSINESS WIRE)-- The Minnesota High Tech Association (MHTA) has named Clearfield as a finalist in the "Advanced Manufacturing Award" category for the 2009 Tekne Awards, which will be held at the Minneapolis Convention Center on Thursday, Oct. 22. The Tekne Awards recognize Minnesota companies and individuals who have shown superior technology innovation and leadership.
The Advanced Manufacturing Award is presented to companies that have excelled in the production of advanced materials and chemicals, machinery and equipment, electronics and components, measuring instruments, photonics, optics and lasers, computer and peripheral equipment. Clearfield was nominated for their Clearview Cassette and the FieldSmart product line - for its ability to provide their customers with the industry's best fiber management solution while reducing the cost of its product to customers and reducing its cost of production.
"This is such an exciting time for Clearfield. Our Clearview Cassette and FieldSmart product line are representative of just some of the innovative work going on here." said Cheri Beranek, CEO and president, of Clearfield. "On behalf of all the people who live and breathe product development at Clearfield, we are thrilled to be recognized by the MHTA."
Presented by the MHTA in partnership with LifeScience Alley and Enterprise Minnesota, the Tekne Awards annually recognize Minnesota's best and brightest technology users and developers in innovation, development, education, commercialization and management. A full list of finalists is available online at http://www.tekneawards.org.
"For 10 years the Tekne Awards have recognized those who make groundbreaking contributions to the growth of technology in Minnesota," said Kate Rubin, president of MHTA. "This year's finalists should be extremely proud of their role in helping Minnesota excel at producing cutting-edge technology and continue to be a great place to do business."
Recipients of the 2009 Tekne Awards will be announced at the award ceremony on Oct. 22. The event will begin with a VIP reception at 4:30 p.m., followed by general registration and reception at 5 p.m., dinner at 6 p.m., the awards ceremony at 7 p.m., and a post-Tekne party at 8:30 p.m. The event will be emceed by John Sweeney, author of Innovation at the Speed of Laughter, and owner of the Brave New Workshop, the nation's oldest satirical comedy theatre.
To register for the 2009 Tekne Awards ceremony, visit www.tekneawards.org or contact Lonni Ranallo at 952-230-4555 or lranallo@mhta.org.
Nice pullback. Exactly what I was waiting for.. now buy time ....... !!!
Nice pullback. Exactly what I was waiting for.. now buy time ....... !!!
Hank-like I said before, you are one of the best I have followed in this site. Cheers.
Hank, dude, people are listening to you, relax, they're just too busy counting their millions.
SI.
You are the man Hank$$$$
CLFD..$5.00
And I couldn't get anyone to listen..hank
09/17/09 9:56 AM EDT Sell 88 CLFD Executed @ $4.98 Details | Edit
09/17/09 9:56 AM EDT Sell 200 CLFD Executed @ $4.98 Details | Edit
09/17/09 9:56 AM EDT Sell 288 CLFD Executed @ $4.98 Details | Edit
09/17/09 9:56 AM EDT Sell 100 CLFD Executed @ $4.98 Details | Edit
09/17/09 9:56 AM EDT Sell 12 CLFD Executed @ $4.98 Details | Edit
09/17/09 9:55 AM EDT Sell 100 CLFD Executed @ $4.98 Details | Edit
09/17/09 9:54 AM EDT Sell 700 CLFD Executed @ $4.94 Details | Edit
09/17/09 9:54 AM EDT Sell 100 CLFD Executed @ $4.94 Details | Edit
09/17/09 9:50 AM EDT Sell 500 CLFD Executed @ $4.87 Details | Edit
agreed hank-gltus
CLFD,,
One million share plus two day's in a row on a stock that sometimes never traded 6 months ago.. $6.00 is near.. hank
Hank .. 4.67 perhaps ??
wtg hank!
CLFD.. $3.67..
NEW HIGH.. I added 16,152 shares today..
And I'm loaded to the Gill's.. My new retirement fund..!!!
hank
Followers
|
17
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
722
|
Created
|
03/24/08
|
Type
|
Free
|
Moderators |
Ticker:(NASDAQ)CLFD
OS:11,872,331
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.
Economic conditions slow momentum; gross margin gains and ongoing strategic investments position Company for future opportunities
MINNEAPOLIS--(BUSINESS WIRE)--Clearfield, Inc. (NASDAQ: CLFD - News):
| $4.9 million, down 17% from previous year | |
| $1.7 million, down 16% from previous year | |
| 34.4%, up from 34.0% in previous year | |
| $160,000 | |
| $.01 |
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. www.ClearfieldConnection.com
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.
CLEARFIELD, INC. | ||||||||||
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS | ||||||||||
UNAUDITED | ||||||||||
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 | ||||||||
CLEARFIELD, INC. | ||||||||||
BALANCE SHEETS | ||||||||||
UNAUDITED | ||||||||||
December 31, 2009 | September 30, 2009 | |||||||||
Assets | ||||||||||
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
3 Month chart:
12 Month chart:
5 Year chart:
10 Year chart:
CLFD and GLW(Corning)10 year comparison chart:
more info to come...
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |