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CLFD.. $2.71
Landing Small-Count Fiber Just Got Even Easier
Clearfield, Inc. (NASDAQ: CLFD) announced its latest innovation in fiber management, the FieldSmart Fiber Delivery Point (FDP) Wall box (xWB1) enclosure for the Clearview xPAK Cassette. Engineered to land small port count fiber terminations and optical components as conveniently as possible, the Clearview xPAK and FieldSmart FDP-xWB1 enclosure are packaged to make landing small count fiber more cost-effective and efficient than previously thought possible.
The FieldSmart FDP-xWB1 is optimized for delivery of a single Clearview xPAK with up to six fibers. The lockable, NEMA 4 rated enclosure is a compact 9 x 12 inch design, making it ideal for a variety of applications, including harsh environment locations surrounding fiber demarcation; entrance facilities; FTTp drop boxes; or cell backhaul.
“To enable our customers to use any enclosure of their choosing, we designed the Clearview xPAK with a universal mounting bracket,” explains Johnny Hill, chief operating officer for Clearfield. “This enclosure, while sized to optimally house a single Clearview xPAK, is just one of many options available for the deployment of the Clearview xPAK Cassette.”
Price and Delivery
The FieldSmart FDP-xWB1 carries a list price of $19. Packaged with the Clearview xPAK Cassette, fiber installers can land small count fiber for less than $100. “This solution not only hits the capital equipment cost targets that broadband specifiers are demanding,” said Clearfield CEO Cheri Beranek. “But it also reduces the operating costs of fiber deployment through the reduction of installation time and inventory carrying requirements.”
About the Clearview xPAK Cassette
Priced to allow field personnel to carry cartons of Clearview xPAK Cassettes in the field, xPAK is shipped flat and unassembled. At the deployment site, the technician will take his xPAK device, and following simple pictorial user instructions, will assemble the device to match his field requirements. Integrated into the footprint of the device, is an industry-compatible splicing tray, which is then surrounded with fiber protection elements that support a 2, 4 or 6-port fiber assembly as well as a range of optical component devices. (Clearfield provides a wide selection of user-defined split-count PON splitters or WDM channel frequencies.) To ensure everything needed is at the installer’s finger tips, all potentially used components, including the splice sleeves, are included within the Clearview xPAK packaging kit. Similar to the concept of a model airplane, any unused element is simply disposable. xPAK will integrate into your favorite inside and outside plant enclosures. Look for the “Clearview Landed” symbol indicating an enclosure that is “xPAK Ready”. An animated demonstration of the product is available at www.FiberPuzzle.com.
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 Crossover Distribution System (FxDS), FieldSmart Fiber Scalability Center (FSC) and FieldSmart Fiber Delivery Point (FDP) series. The FxDS, FSC and FDP product lines are built upon the Clearview Cassette, delivering the industry’s only fiber management platform that is built upon a single architecture. Scaling from 12 to 1728 ports, FieldSmart supports a wide range of panel and cabinet 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 http://www.ClearfieldConnection.com.
Guess I'll have to wait a while ... LOL
Hmmm .. will we see the last of the 2s? I've become an trickle/paycheck-accumulator here.
CLFD..$2.65
I just think that the MOMO's are tired and we will have a chance to load up below $2.00 again.. I'm thinking the $1.80 level.. It was tempting to buy when it went thru $3.00 the last pop but I'm just too much of an asset nut for that.. Good luck.. hank
Bit of a wild ride these last couple days .. I resisted the urge to buy higher due to lack of volume .. but am always watching for a nice dip/add/ zone ..
Some margin calls pushing it down maybe ??
CLFD.. $2.96..
Westell and Clearfield Enter Joint Development Agreement
Westell Technologies, Inc. (NASDAQ: WSTL), a leading provider of broadband products, outside plant telecommunications equipment and conferencing services, and Clearfield, Inc. (NASDAQ: CLFD), a specialist in fiber management solutions for fiber to the premises (FTTp) deployments, today announced that the two companies have established a Joint Development Agreement as part of Clearfield’s “Clearview Multiplied” program.
Westell plans to incorporate Clearfield’s Clearview Cassette into its line of outside plant enclosures. The Clearview Cassette is a simple, scalable and cost-friendly device that functions as a building block for any fiber management requirement. Designed to handle the toughest operating environments, the Clearview Cassette provides flexibility as well as reliable performance within the inside plant, outside plant and access networks. Within the cassette, all fibers are slack stored, bend-radius protected and secured against accidental physical damage from handling.
“As we continue to expand our line of Outside Plant Products for our one-stop-shop Custom Systems Integration (CSI) offerings, it is imperative that we have the best solutions to support the next generation of infrastructure build-outs for Broadband and Cellular Backhaul applications for our service-provider customers” said Richard Gilbert, Chairman and CEO of Westell. “Centering our fiber management offerings around Clearfield’s Clearview Cassette broadens our portfolio of quality products and positions us for additional growth in that demanding market.”
“Westell’s long-standing commitment to innovation and quality is recognized by key service providers around the world,” said Cheri Beranek, president and CEO of Clearfield. “We are thrilled that their customers will now have access to highly scalable and reliable fiber management solutions.”
About Clearfield
Clearfield, Inc., headquartered in Plymouth, Minnesota, is the emerging market specialist and leader in innovative fiber management solutions. Clearfield is a public company, traded on Nasdaq:CLFD. www.ClearfieldConnection.com
About Westell
Westell Technologies, Inc., headquartered in Aurora, Illinois, is a holding company for Westell, Inc. and ConferencePlus, Inc. Westell, Inc. designs, distributes, markets and services a broad range of broadband customer-premises equipment, digital transmission, remote monitoring, power distribution and demarcation products used by telephone companies and other telecommunications service providers. ConferencePlus, Inc. is a leading global provider of audio, web, video and IP conferencing services. Additional information can be obtained by visiting http://www.westell.com and http://www.conferenceplus.com.
“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995:
Certain statements contained herein that are not historical facts or that contain the words “believe”, “expect”, “intend”, “anticipate”, “estimate”, “may”, “will”, “plan”, “should”, or derivatives thereof and other words of similar meaning are forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, product demand and market acceptance risks, need for financing, economic weakness in the United States economy and telecommunications market, the impact of competitive products or technologies, competitive pricing pressures, product cost increases, new product development, excess and obsolete inventory, commercialization and technological delays or difficulties (including delays or difficulties in developing, producing, testing and selling new products and technologies), the effect of each company’s accounting policies, the need for additional capital, the effect of economic conditions and trade, legal, social and economic risks (such as import, licensing and trade restrictions), retention of key personnel and other risks more fully described in each company’s SEC filings, including each company’s Form 10-K for its most recent fiscal year under the section entitled Risk Factors. The companies undertake no obligation to publicly update these forward-looking statements to reflect current events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, or otherwise.
Tracer? Small position I presume? The ups and downs on this one have proven to be a nicity and I should have traded it all but .. live n learn... IMO ... CLFD has a pretty good future.
FTER- Wow. I didn't follow Lars posts, rather only suspected that he bailed .. this after the all those defensive posts he made .. I see his last post on FTER (9 Mar) as adding .. no matter .. I think I did well to bail on the majority of it when I did ..
Made a small bundle on the run that I pretty much knew was not going to last .. although, it fizzled out very quickly, I was out the evening it began ..(.195) in fact I think my sell at the end of the day was a form t ... I then bought back in the next day but bailed again on the sudden death of the mommo..
I tried another small position again in .13s but sold it at .115 .. Over all I am still way up on that one at least. Even with my remaining 24k I am still green.
I too spoke with the CEO there. However when I spoke to him he did not reveal that was owed 200k .. but then, i never asked. Agreed about the check in the mail ... and I too will not buy anymore .. may partake in the next run though as I feel he is no-sh!t type of guy and will indeed make the most of this fledgling co.. I expect the next filing/report will reflect continuing growth.
CLFD..
I'm still confused there because of the constant bids by the MOMO's and hold only a tracer position.. FTER should be ok around $0.065.. The group on the board can't read a balance sheet and the guy Lars.. sold all his and posted he had used the funds to buy Washington Mutual.. I spoke to the pres of FTER and he is a wall strrt guy.. Busted out of bear Stearns which doesn't make him a bad person.. I'm sure he lost a lot.. FTER is his chance to come back and I wish him luck.. The company owes him $200,000 and I think he would convert to stock he he felt it was the right time.. He say's he will not dilute but I've always had tennants that said the check was in the mail.. If he converted he's all in like a poker game and at that time when the filling comes I'm a buyer.. Untill then i won't buy above $0.0628 and then only foe a max of 80,000 shares.. I.m 11% in cash at present.. I think this market has at least another 10% unless we see volume on the downside.. hank
Dropping back yet AGAIN. ATM swings in the making. I still have half of my original position here because I didn't listen to my GUT. However .. have it on radar again for a trip to the lower 2s ..
Hard to read right now ... declining pps in the face of recent insider buying and a couple of positive PRs ..
OT: Still mostly cash (75%)
Holding 10K shares here. and 24k in FTER and Some pinkie lotto plays ongoing LOL
CLFD.. $2.74
Clearfield Introduces New WDM Packaging to Telecom Market.......
Company Symbols: NASDAQ-NMS:CLFD
Application-specific packaging options now available for convenient, cost-effective delivery of optical component technology to remote locations
MINNEAPOLIS--(BUSINESS WIRE)-- Clearfield, Inc. (NASDAQ: CLFD) announced its latest innovation in reducing the cost of optical component delivery. In addition to the industry standard package of discrete (unpackaged) and LGX style modules, Clearfield is announcing four application-specific packaging alternatives.
"Clearfield's Wavelength Division Multiplexing (WDM) devices utilize advanced thin-film filter and array wave guide grating (AWG) technologies to address the mux and demux needs of such diverse application environments as node segmentation, cell backhaul deployment and the delivery of business class services," comments Johnny Hill, COO of Clearfield. "Responding to service providers who told us that 'one size does not fit most,' Clearfield provides four unique alternatives to ensure that no matter what your preference or environment, your deployment can be convenient and cost-effective."
Clearview xPAK
The Clearview xPAK is a compact and convenient means by which to land up to seven input/output ports. It can be deployed as a standalone device or as part of Clearfield's "Clearview Landed" program -- integrated into a Clearfield designed enclosure or many industry-leading enclosures from the provider of your choosing.
Clearview Cassette
The foundation of the Clearfield FieldSmart product line, the Clearview Cassette, is the most scalable alternative and provides up to 36 input/output ports of optical component connectivity. The Clearview Cassette then populates any "Clearview Multiplied" product across the network, including FieldSmart inside plant panels, outside plant cabinets, and access-network products, such as pedestals and wall box enclosures.
Clearview High Density Cassette
Delivering up to eight WDM optical devices in a single Clearview Cassette, the high density configuration leads the industry in the number of optical components housed in the smallest space.
Pizza Box
For deployment in a head-end rack or OSP cabinet, the Clearfield Pizza Box can deploy multiple optical devices in a 19" or 23" 1RU format.
Price and Delivery
WDM modules and all packaging options are shipping, and are being offered to market through distributors, such as Power & Tel. Contact a sales representative for a price quote on your particular application environment.
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 are build upon the Clearview Cassette, delivering the industry's only fiber management platform that is built upon a single architecture. Scaling from 12 to 1728 ports, FieldSmart support a wide range of panel and cabinet 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 http://www.ClearfieldConnection.com.
Source: Clearfield, Inc.
Sold half. Profit taking ? Yep. Some others as well it looks like.
Indeed. Watched closely and played even half decently, CLFD is an ATM .. I held a small core for long term but have traded it between 2.00 and 3.25 as well ..and now represents 4 fold since I began...
Most recently though I thought it might go lower on its last downturn and missed and opp to add/flip due mostly to my non-attentiveness...
Still a good performer ..
GLTY
Nice play- congrats
CLFD 3.24 close and 3.38 premarket today. Sold half my position yesterday at 3.20 and will hold the rest to see how far they want to take her.... This stock has given me to 50% gains. Thanks CLFD and hank. :)
Trend continues.... Me likey .. holding now for 5
Nice steady climb .. new supply deal, new products, insider buying, all bodes nicely .. holding for a while.
CLFD.. $2.76
Clearfield Announces Clearview xPAK
Business Wire - Feb 25 at 14:00 NONE
Company Symbols: NASDAQ-NMS:CLFD
New product designed to deliver the fastest, most convenient method to land small-count fiber and optical components.
With pricing starting at under $100, xPAK is considered a market breakthrough.
MINNEAPOLIS--(BUSINESS WIRE)-- Clearfield, Inc. (NASDAQ: CLFD) announced its latest innovation in fiber management, the Clearview xPAK Cassette. Engineered to land small port count fiber terminations and optical components as conveniently and inexpensively as possible, the xPAK simplifies fiber management to the level of a consumable good.
At first glance, Clearview xPAK looks like any other LGX compatible package, but upon closer inspection, technicians will see a new generation of innovation in the delivery of terminated fiber assemblies. Clearview xPAK unfolds to a flat, single-piece element in which all required components for fiber protection are integrated. "When landing small-port count fiber, we went back to the field and asked broadband service providers what they needed," comments Johnny Hill, Clearfield's COO. "They told us they had the highest standards for fiber protection and reliability - but deployment needed to be fast, intuitive, small count and small form factor. And the product needed to be so inexpensive, that techs could conveniently keep small lot counts in their trucks and deploy as service calls were scheduled."
"We get into a lot of buildings that were built more than 100 years ago, and the communications space inside those buildings is a premium," explains Alan Shaw of Time Warner Cable's Business Class team. "As we bring business class services to these tight spaces, Clearfield's xPAK design delivers the functionality we need."
Shipped Flat for Service Provider Ease of Deployment
Priced to allow field personnel to carry cartons of Clearview xPAK Cassettes in the field, xPAK is shipped flat and unassembled. At the deployment site, the technician will take the xPAK device, and following simple pictorial user instructions, will assemble the device to match his field requirements. Integrated into the footprint of the device is an industry-compatible splicing tray, which is then surrounded with fiber protection elements that support a 2-, 4- or 6-port fiber assembly as well as a range of optical component devices. (Clearfield provides a wide selection of user-defined split-count PON splitters or WDM channel frequencies.)
To ensure everything needed is at the installer's fingertips, all potentially used components, including the splice sleeves, are included within the Clearview xPAK packaging kit. Similar to the concept of a model airplane, any unused element is simply disposable.
Application Environments
Clearview xPAK is the ideal fiber management device when up to six fibers are landed or an optical component device is deployed in a remote location. Application environments include cell back-haul, business class service delivery, node segmentation, fiber exhaust scenarios, utility sub-stations, or fiber-to-the-desk deployment.
Enclosure Options
Clearview xPAK can be deployed as a stand-alone device, or, for an additional layer of protection, look for a series of new announcements from Clearfield on FieldSmart Fiber Deliver Point (FDP) products for access-network environments.
"Clearview Landed"
Clearview xPAK will integrate into a company's or municipality's favorite inside and outside plant enclosures. Look for the "Clearview Landed" symbol to indicate an enclosure that is "xPAK Ready."
Price and Delivery
Clearview xPAK is shipping and is being offered to the market through distribution, including Power & Tel. Prices start at under $100. "I've asked other vendors to look at this issue, and nobody has anything that's more condensed and smaller to use," adds Brian Hanson, commercial construction manager for Midcontinent Communications. "This whole device will cost about $100, and it'll work for many things that we're currently doing right now."
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 are built upon the Clearview Cassette, delivering the industry's only fiber management platform that is built upon a single architecture. Scaling from 12 to 1728 ports, FieldSmart support a wide range of panel and cabinet 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.
Source: Clearfield, Inc.
CLFD.. $2.24
Clearview, Ignis ASA Enter into International Supply Agreement
Clearfield, Inc. (NASDAQ: CLFD), a specialist in fiber management solutions for fiber to the premises (FTTp) deployments, and Ignis ASA, a leading international provider of optical components, announced today that they have signed a mutual supply agreement.
Under the terms of the agreement, the Korean manufacturing center of Ignis will be the preferred supplier of optical components to Clearfield. Ignis will sell this integrated solution exclusively through Clearfield.
“We are proud to team our wafer fabrication and array technology with the superior optical component packaging of the most innovative fiber management supplier in North America,” said Matt Lee, Chief Operating Officer of Ignis ASA. “As the leading provider of optical component products to the largest FTTH deployments in the world, Ignis is pleased to bring our standards of quality and delivery to Clearfield.” “Clearfield has designed an optical component package that has been field-proven in the harshest of environments. Thousands have been deployed and have weathered the extremes of Alaska winters to Alabama summers,” explains Johnny Hill, Chief Operating Officer of Clearfield. “Our partnership with Ignis cements our ability to provide an increasing volume of highly reliable, quality products.” “With monies beginning to flow from the Broadband Stimulus program, we are seeing a number of FTTH projects receive funding,” explains Cheri Beranek, president and CEO of Clearfield. “This agreement is one means by which Clearfield is assuring our customers and prospects that Clearfield can respond to their quality, delivery and cost requirements.” About Ignis Ignis ASA is comprised of three subsidiaries including 69.3% ownership in Ignis Fira in Korea, the wholly owned Ignis Photonyx in Denmark and Ignis Syntune in Sweden. Ignis is a leading international provider of optical splitters, multiplexers, and state-of-the-art widely tunable lasers for applications ranging from fiber-optic communications to sensor systems. Headquartered in Oslo Norway, Ignis ASA is listed on the Oslo Stock Exchange (OSE: IGNIS).
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 are built upon the Clearview Cassette, delivering the industry’s only fiber management platform that is built upon a single architecture. Headquartered outside of Minneapolis, Minnesota, Clearfield is traded on NASDAQ: CLFD.
More information about Clearfield, Inc., its products and its people can be found at http://www.ClearfieldConnection.com.
Nice close here yesterday .. didn't even see it ... Nice.
CLFD 2.21, showing strenght yet again at 2. Nice insider buy to boot...
CLFD, I like it here again... Showing great strength at 2 imo... Bought some at 1.95 and plan on buying more if things play out well tomorrow...
CLFD.. $1.997
Clearfield Simplifies Fiber Distribution with Integrated Pedestal Kit
Date : 02/05/2010 @ 11:00AM
Source : Business Wire
Stock : Clearfield, Inc. (CLFD)
Quote : 2.019 0.085 (4.40%) @ 7:22AM
Clearfield Simplifies Fiber Distribution with Integrated Pedestal Kit
Clearfield, Inc. (NASDAQ: CLFD), a specialist in fiber management solutions for fiber to the premises (FTTp) deployments, announced today a turn-key package for small-count fiber deployment. Teaming with Channell Commercial Corporation, Clearfield is announcing the integration of the FieldSmart Fiber Delivery Point (FDP) “PON in a PED” Insert with a custom variation of the Channell MAH1212 pedestal and underground vault. The new solution provides fiber connectivity, cable drop splicing, sheath-to-sheath splicing, and optical component housings within the Clearview Cassette and integrates it with the slack storage functionality of the Channell pedestal/vault product offerings
“Many of our clients expressed a desire to provide the same level of slack storage access for small count installations as we provided with our fiber distribution hubs but couldn’t find a commercially available pedestal/vault solution to address their requirement,” explains Johnny Hill, COO of Clearfield. “In working with Channell Corporation, we were able to make some simple alterations to their product to make it fiber-ready. In its simplest configuration, service providers can use this solution today while future-proofing their network for long-term fiber migration strategies.” “We are pleased to be selected by Clearfield to partner in this turn-key solution,” explains Rick Powell, Director of Product Management for Connectivity and Fiber Products at Channell. “Channell’s long-standing reputation for a quality pedestal and vault solution and Clearfield’s reputation as the emerging expert in fiber management solutions is a great combination for the service provider installing fiber in the outside plant and access networks.” About the FieldSmart FDP PON in a PEDIntegrating feeder, distribution, drop cable splices, splitters and cable slack storage for any FTTp deployment, the FieldSmart FDP PON in a PED is a cost-effective and flexible option for fiber deployment. Engineered to allow for FTTp rollouts without a large initial capital expense, integrated fiber management minimizes the risk of fiber damage. Allocation of cassette splicing to multiple cable sheaths, along with mid-span capable hardware, allows the user to express fiber buffer tubes through the pedestal or provide an interconnect point for separate but parallel networks. The turn-key package provides an adaptation of the locking mechanisms on the Channell pedestal’s main support as well as the incorporation of a ventless design to minimize environmental interference from dust or other contaminants
Clearview MultipliedWith the Clearview Cassette as its foundation, the FieldSmart FDP PON in a PED uses the same components as the other elements of the FieldSmart platform. As an “Any Application, Anywhere Multiplier,” the Clearview Cassette reduces training and installation time for the technician and allows for a single fiber management component to be stocked for all environments – thereby reducing inventory stocking levels during installation or maintenance. 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 for 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
AvailabilityThe FieldSmart FDP PON in a PED turn-key package is currently shipping from Clearfield. Additional information can be obtained at http://www.ClearfieldConnection.com
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 are build upon the Clearview Cassette, delivering the industry’s only fiber management platform that is built upon a single architecture. Scaling from 12 to 1728 ports, FieldSmart supports a wide range of panel and cabinet 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
About Channell Commercial CorporationChannell Commercial Corporation is a designer and manufacturer of telecommunications equipment supplied to communications network operators worldwide. Major product lines include a complete line of thermoplastic and metal fabricated enclosures, advanced copper termination and connectorization products, and fiber-optic cable management systems and polyethylene water storage tanks. The Company's headquarters and U.S. manufacturing facilities are in Temecula, California. International operations include facilities in Toronto (Canada), London (U.K.) and Australia. The Company's website is www.channell.com
More information about Clearfield, Inc., its products and its people can be found at http://www.ClearfieldConnection.com
CLFD.. $1.934..
First insider buy that I have seen since the meltdown..hank
Chmn ROTH Buys 20,000 Of CLEARFIELD INC >CLFD
Dow Jones & Company, Inc. - Feb 04 at 16:18 NONE
Company Symbols: NASDAQ-NMS:CLFD
SOURCE: Form 4
ISSUER: CLEARFIELD INC
SYMBOL: CLFD
FILER: ROTH RONALD G
TITLE: Chairman of the Board
DATE TRANSACTION SHARES PRICE VALUE
2/3/10 Purchase 20,000 $2.00 $40,000
OWNERSHIP: 788,990 (Direct) 156,760 (Indirect)
The Form 4 is filed with the Securities and Exchange Commission by insiders
to report transactions in their companies' shares. Open market purchases
and sales must be reported within two business days of the transaction.
CLFD.. $2.00 Earnings release..
Clearfield, Inc. Reports Quarterly Performance
Economic conditions slow momentum; gross margin gains and ongoing strategic investments position Company for future opportunities
Press Release Source: Clearfield, Inc. On Thursday January 28, 2010, 11:00 am
MINNEAPOLIS--(BUSINESS WIRE)--Clearfield, Inc. (NASDAQ: CLFD - News):
•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:
$160,000
•Net loss per share:
$.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
Contact:
Clearfield, Inc.Cheryl P. Beranek, 763-476-6866Chief Executive Officer and President
CLFD.. $1.98..
I Totally Agree Hank. I have stayed out with much regard to your last prognosis re: sub 2 dollars. .. watching the political arena and the distribution of that money has indeed taken more time than was likely thought by most ... I too would be a big buyer if this should ever fall .. $1.20 that is ..
I think I would start buying small @ 1.5o and lower.
CLFD.. $2.03..
While the earnings are a factor in the analysis of share price value in CLFD they do not tell the whole story.. Caught in the MOMO groups price movement last year,, overhead supply has been obvious in it's retreat from above $6.00.. CLFD has and continues have the finest products in it's field with delivery times and the ability to deliver on time with strict cost containment twards quoted estimates of price.. Application and Project engineers quote and specify CLFD because of these qualitys..
But CLFD is also dependent upon budgets of smaller Municipalities and the restrictions of park like community development.. Unexpected delays in Goverment stimulus dispersements have caused delays in purchase orders being funded and slow down of actual deliveries..
While I believe the CLFD story and have drank the kool-aid I think that we will see much lower prices on a percentage basis from the price in this posting.. I am hoping tha CLFD may trade below $1.20 and would be an aggressive buyer at that level..GLTA.. hank
CLFD - $2.10 Quarterly Earnings:
Clearfield, Inc. Reports Quarterly Performance
Date : 01/28/2010 @ 11:00AM
Source : Business Wire
Stock : Clearfield, Inc. (CLFD)
Quote : 2.11 0.01 (0.48%) @ 7:22AM
Clearfield, Inc. Reports Quarterly Performance
Clearfield, Inc. (NASDAQ: CLFD):
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:
$160,000
Net loss per share:
$.01 Clearfield, Inc. (NASDAQ: CLFD) 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
Board is dead. Chart seems to be confirming your call on CLFD, getting a little more attractive but I feel it will touch 2.00 and below soon.
When do they report this latest qtr ?
As am I, unless it gets down to 2.15 or less .. right now I am scooping another issue .. TTIL .. looking like its trending nicely and so I am taking some CYCC mania money from last week to put there.. just a starter @ 1.70
CLFD..$2.64..
I'm staying on the sidelines until I at least see earnings again.. hank
Giving some back today .. down .15 .. getting into the buy zone yet again ? No news lately though ... hmmmmm ... could be room for more downward movement.
I have to concur .. I got back in but got right back out flat .. waiting again now.
Having sold at 2.52 was a bad decision, but back in @ 2.77 yesterday was proving to be a nicer one.
Hank: OT: More on market manipulation: You may recall GS was accused of using "malicious" and "inordinately fast" trading software that was proprietary to GS itself when they filed a complaint that an employee (former) had stolen the code and sold it to another trading firm. GS alleged that he did so illegally and that further .. if the software was to fall into the wrong hands .. the market could be manipulated ..
LOL
The software essentially flashes large orders for only seconds, sometimes minutes .. only to be retracted very quickly .. designed specifically to artificially cause volume/panic ..
Further, it cylces through just about every stock there is every 24 minutes or so .. Excellent tidbits of info like that and much much more can be found here:
www.beearly.com
*Shrug* ... GEeeze ... LOL ..
CLFD.. $2.86..
This stock has continued to act contrarian to any thing I have traded in the past year.. It's time to be a standby on the lines for a couple of weeks.. The MOMO's again seem to be incharge.. hank
I sold yesterday 3 mins before the close @ 2.52 but I only had a couple thousand.. feels like there is indecision about which way this should go ..
Just wanna be clear that you saw that large bid for 1.53 .. and not 2 .53
CLFD.. $1.52..
I was wrong on that move as before selling CLFD.. There is a bid for 138,000 @ $1.53.. I don't think it is a bid that can get filled today.. Bid got pulled but a lot of buyers bought because of it.. Next tic $2.48.. Market Manipulation..???
hank
CLFD..$2.40
I agree that it might take a while to break $2.00 but unless we see a positive PR from the company it will happen.. As long as stimulous funds are held by Washington as chips on the poker table I don't see Al Frankin having much in the way of any Political Capitol to be used sending CLFD money it's way.. I'll sit and watch for now.. hank
Went from 2.00 to 2.60 in just a few days. Not much of a follow through? High expectations...
Can't always be green...
Don't think we see anything under 2 for a while. IMO
Beau.
CLFD..$2.41
Sold the position again.. The follow thru looks bad for the first day of the year.. I now believe we will see $1.80- $1.88.. hank
01/04/10 10:59 AM EST Sell 9000 CLFD Executed @ $2.41 Details | Edit
01/04/10 10:51 AM EST Sell 700 CLFD Executed @ $2.43244 Details | Edit
01/04/10 10:54 AM EST Sell 1000 CLFD Executed @ $2.4107 Details | Edit
01/04/10 10:52 AM EST Sell 3888 CLFD Executed @ $2.42669 Details | Edit
01/04/10 10:51 AM EST Sell 2100 CLFD Executed @ $2.41 Details | Edit
01/04/10 10:51 AM EST Sell 4500 CLFD Executed @ $2.41244 Details | Edit
01/04/10 10:51 AM EST Sell 388 CLFD Executed @ $2.41 Details | Edit
01/04/10 10:51 AM EST Sell 4500 CLFD Executed @ $2.41244 Details | Edit
01/04/10 10:51 AM EST Sell 388 CLFD Executed @ $2.41 Details | Edit
01/04/10 10:50 AM EST Sell 4807 CLFD Executed @ $2.41244 Details | Edit
I hear ya Hank. A little OT but worth the therapy of admission/discussion .. LOL .. I read the writing on another issue... JBII and left so much money on the table I am kicking myself .. but profit is better than loss ..
To summarize: JBII has Just acquired another company (PAKit) that will now be groomed to market its patented P2O process.. They have developed a method that has been independently confirmed now, to process waste plastic into gasoline (P2O).. The last step I believe they are engaged in now is to assess/guage mass production capability and/marketing ..
Got in @ 1.42 ... exited @ 3.50 in one week and today its sitting at 7.25 and looks to have institutional interest/buyers since it crossed into 3 dollar territory/seeks a NAZ listing and has zero debt and the CEO just retired 12M of the 54M shares OS.
There is pretty good starting DD on the board:
http://investorshub.advfn.com/boards/board.aspx?board_id=15341
If you get bored, have a look, love to hear what you think.
CLFD..$2.48..
I was working on anoter stock yesterday and I had a lowball bid in on CLFD.. I bought a total of 5600 this AM ,, all below 2.42 and now hold just shy of 30K.. It doesn't look like any more selling has come in since the day it traded at close to $2.00.. There were about 15,000 more avil but that was then and this is now.. Not quite the position That I wanted and the sale that I made was a big mistake.. I now hold the position with a cost basis of 15% higher than I would of liked to but it is still meaningfull and will not be traded.. Happy New years.. hank
Still getting filled ?
CLFD.. $2.45..
I have getting my position back after my BAD sale the other day.. It's been coming in in drips but no volume.. Today I have been taken offers to see what will show up.. So far few and far between.. hank..
12/29/09 12:27 PM EST Buy 600 CLFD Executed @ $2.45 Details | Edit
12/29/09 12:27 PM EST Buy 300 CLFD Executed @ $2.45 Details | Edit
12/29/09 12:27 PM EST Buy 800 CLFD Executed @ $2.45 Details | Edit
12/29/09 12:27 PM EST Buy 100 CLFD Executed @ $2.44
12/29/09 12:24 PM EST Buy 900 CLFD Executed @ $2.42 Details | Edit
12/29/09 12:14 PM EST Buy 30000 SPCK Executed @ $0.102 Details | Edit
12/29/09 12:14 PM EST Buy 9750 SPCK Executed @ $0.102 Details | Edit
12/29/09 12:03 PM EST Buy 250 SPCK Executed @ $0.102 Details | Edit
12/29/09 11:50 AM EST Buy 100 NTFY Executed @ $0.2528 Details | Edit
12/29/09 11:22 AM EST Buy 3600 CLFD Executed @ $2.39861 Details | Edit
12/29/09 11:22 AM EST Buy 700 CLFD Executed @ $2.4 Details | Edit
12/29/09 11:22 AM EST Buy 588 CLFD Executed @ $2.4 Details | Edit
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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...
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