InvestorsHub Logo
Join InvestorsHub

Join the InvestorsHub Community

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.

Live Updating
profile icon
valleyboi0 Free
04/19/10 6:55 PM
profile icon
10 bagger Free
04/16/10 12:59 PM
profile icon
valleyboi0 Free
04/10/10 4:50 PM
profile icon
valleyboi0 Free
04/09/10 7:09 AM
profile icon
10 bagger Free
04/01/10 10:46 AM
profile icon
valleyboi0 Free
04/01/10 10:42 AM
profile icon
10 bagger Free
03/24/10 9:15 PM
profile icon
valleyboi0 Free
03/24/10 9:50 AM
profile icon
valleyboi0 Free
03/16/10 3:42 PM
profile icon
valleyboi0 Free
03/15/10 3:18 PM
profile icon
10 bagger Free
03/15/10 3:01 PM
profile icon
valleyboi0 Free
03/15/10 2:48 PM
profile icon
10 bagger Free
03/09/10 12:38 PM
profile icon
valleyboi0 Free
03/03/10 2:24 PM
profile icon
valleyboi0 Free
03/02/10 9:24 AM
profile icon
Jang-A-Lang Free
03/02/10 8:11 AM
profile icon
valleyboi0 Free
03/01/10 11:10 AM
profile icon
valleyboi0 Free
02/26/10 3:43 PM
profile icon
10 bagger Free
02/25/10 2:29 PM
profile icon
10 bagger Free
02/12/10 12:14 PM
profile icon
valleyboi0 Free
02/12/10 7:36 AM
profile icon
Jang-A-Lang Free
02/08/10 10:22 PM
profile icon
Jang-A-Lang Free
02/07/10 2:29 PM
profile icon
10 bagger Free
02/05/10 12:05 PM
profile icon
10 bagger Free
02/05/10 9:14 AM
profile icon
10 bagger Free
01/28/10 12:02 PM
profile icon
valleyboi0 Free
01/28/10 11:47 AM
profile icon
10 bagger Free
01/28/10 11:38 AM
profile icon
valleyboi0 Free
01/28/10 11:10 AM
profile icon
valleyboi0 Free
01/22/10 12:08 PM
profile icon
valleyboi0 Free
01/15/10 1:46 PM
profile icon
10 bagger Free
01/15/10 1:38 PM
profile icon
valleyboi0 Free
01/15/10 11:37 AM
profile icon
valleyboi0 Free
01/07/10 12:10 PM
profile icon
valleyboi0 Free
01/06/10 9:47 AM
profile icon
valleyboi0 Free
01/05/10 3:40 PM
profile icon
10 bagger Free
01/05/10 10:18 AM
profile icon
valleyboi0 Free
01/05/10 8:11 AM
profile icon
valleyboi0 Free
01/04/10 9:07 PM
profile icon
10 bagger Free
01/04/10 3:48 PM
profile icon
10 bagger Free
01/04/10 11:55 AM
profile icon
Jang-A-Lang Free
01/04/10 11:46 AM
profile icon
10 bagger Free
01/04/10 11:11 AM
profile icon
valleyboi0 Free
01/01/10 10:54 AM
profile icon
10 bagger Free
12/31/09 3:18 PM
profile icon
valleyboi0 Free
12/30/09 3:47 PM
profile icon
10 bagger Free
12/29/09 12:35 PM

Clearfield Inc. (CLFD) RSS Feed

Followers
17
Posters
46
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.

 

Clearfield, Inc. Reports Quarterly Performance

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


 

businesswire

Related Quotes

Symbol Price Change
CLFD 2.00 -0.10
Chart for Clearfield, Inc.
 
 
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, 763-476-6866
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:
Last Trade Time:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
New Post