Welcome to our dedicated page for Clearfield news (Ticker: CLFD), a resource for investors and traders seeking the latest updates and insights on Clearfield stock.
Clearfield, Inc. (NASDAQ: CLFD) is at the forefront of fiber optic technology, specializing in designing, manufacturing, and distributing fiber management, protection, and delivery solutions for communication networks. Headquartered in Minneapolis, Minnesota, Clearfield has established itself as a key player in the broadband industry, providing innovative products that facilitate efficient fiber deployment.
Clearfield's product portfolio includes FieldSmart, CraftSmart, and the newly introduced FiberDeep. The FieldSmart fiber management platform is notable for its modular approach, scaling from 1 to 1728 ports, catering to a wide variety of network requirements across inside plant, outside plant, and access networks. These products are complemented by an assortment of passive optical components, connectors, and enclosures.
The CraftSmart enclosure system is the industry's sole field enclosure system specifically optimized for fiber deployment. Meanwhile, FiberDeep patch cords set a new standard in the industry with an insertion loss of just .2db, significantly enhancing performance compared to the industry standard.
Clearfield also offers a comprehensive range of fiber and copper assemblies, meeting the diverse needs of communication networks globally, though the majority of their revenue is derived from the United States. The company operates through two primary segments: the Clearfield segment and Nestor Cables segment.
Clearfield continues to expand its market reach, boasting a strong balance sheet and strategic growth initiatives. Recent developments include a significant share buyback program, reflecting the company's confidence in its market valuation and long-term opportunities.
Latest News:
MINNEAPOLIS, Oct. 26, 2023 – Clearfield announced the release of its financial results for the fourth quarter and fiscal year ending September 30, 2023, on November 9, 2023. The company will host a conference call to discuss the results.
MINNEAPOLIS, Nov. 09, 2023 – Clearfield reported its fourth-quarter results, highlighting challenges yet expressing confidence in the long-term demand for fiber broadband.
MINNEAPOLIS, Feb. 01, 2024 – Clearfield discussed its fiscal first-quarter 2024 results, noting continued industry challenges but reaffirming its commitment to growth.
MINNEAPOLIS, May 02, 2024 – Clearfield reported its second-quarter 2024 results, indicating a gradual market recovery and strategic share repurchases.
Clearfield (NASDAQ:CLFD) has launched the StreetSmart® Ready Connect™ Terminal (RCT), a compact fiber terminal designed for pedestal applications. The terminal supports up to eight drop connections and features a removable splice tray that can handle up to 24 loose-tube fibers.
The RCT is optimized for small pedestals, including Clearfield's CraftSmart® FiberFirst™ 6-inch pedestal, offering a discreet solution for rural, suburban, and urban deployments. Key features include a compact design, easy access for maintenance, robust protection with durable materials, and flexible applications supporting both mid-span splicing and drop terminations.
Clearfield reported Q4 2024 financial results with net sales of $46.8 million, down 5.9% year-over-year, and a net loss of $(0.06) per share. The company's full-year 2024 showed net sales of $166.7 million, a 38% decrease from 2023, with a net loss of $(0.85) per share. Despite challenges, Clearfield achieved BABA self-certification from NTIA and generated positive cash flow from operations of $22.2 million for the year. The company provided guidance for fiscal 2025 with expected revenues between $170-185 million, and Q1 2025 revenue guidance of $33-38 million.
Clearfield (NASDAQ: CLFD) has announced the election of Kate Kelly and Ademir Sarcevic to its Board of Directors, effective December 11, 2024. Kelly brings over 30 years of banking industry experience, notably achieving 24% annual revenue growth as Regional President at PNC. Sarcevic, currently CFO at Standex International, has over 20 years of experience in financial transformation and business growth. Kelly will serve on the Audit Committee and Nominating and Corporate Governance Committee, while Sarcevic will join the Audit Committee and Compensation Committee.
Clearfield (NASDAQ: CLFD) has scheduled its fiscal fourth quarter 2024 earnings release for Thursday, November 7, 2024, after market close. The company will host a conference call at 5:00 p.m. Eastern time to discuss financial results with investors. The earnings presentation and financial results will be available on the company's Investor Relations website. A replay of the call will be accessible until November 21, 2024.
Clearfield (NASDAQ:CLFD) announced a strategic leadership transition, appointing Anis Khemakhem as Chief Marketing Officer effective January 1, 2025. Khemakhem, currently Vice President of Global Technology Platforms, will drive marketing strategy and expansion initiatives, particularly focusing on BEAD funding opportunities. Current CMO Kevin Morgan will transition to Executive Advisor to the CEO, maintaining connections with the Fiber Broadband Association and supporting public policy efforts. The transition aims to strengthen Clearfield's market leadership in fiber broadband connectivity solutions and support expansion into new markets.
Clearfield Inc. (NASDAQ: CLFD) reported Q3 fiscal 2024 results with revenue of $48.8 million, exceeding guidance but down 20% year-over-year. The company posted a net loss of $0.04 per share, better than expected. Gross margin improved to 21.9% from 7.7% in Q2, driven by improved production capacity and lower inventory charges. Order backlog decreased to $32.6 million, down 56% from the previous year. Clearfield repurchased $5.5 million in shares, with $24.9 million remaining for future buybacks. The company expects Q4 fiscal 2024 net sales between $40-43 million and a net loss per share of $0.17-$0.22.
Clearfield Inc. (NASDAQ: CLFD) CEO Cheri Beranek has been awarded the inaugural Women Changing Fiber for Good AMPLIFY Award by the Fiber Broadband Association (FBA). This recognition highlights Beranek's significant contributions to the fiber broadband industry, including her leadership in growing Clearfield into a half-billion-dollar multinational business with over 400 employees and 1,200 customers. Under her direction, Clearfield has achieved 14 years of profitability and has been recognized by Forbes as one of America's Best Small Companies three times, most recently ranking 4th in 2022. Beranek's innovative solutions during challenging times, including the COVID-19 pandemic, and her preparation for the upcoming BEAD funding were key factors in her selection for this award.
Clearfield (NASDAQ:CLFD) has introduced the CraftSmart® Deploy Reel Test Access Point (TAP) Box and Home Deployment Kit (HDK), designed to streamline the process of connecting homes to fiber networks. These innovative products can save up to 30 minutes per installation, offering significant time savings for network operators.
The Deploy Reel TAP Box features a rounded profile for safe storage of up to 50 feet of excess fiber drop cable and 100 feet of 3mm FieldShield® FLEXdrop® cable. A customer deployment study showed time savings of 35% to 38% compared to traditional methods. The products are available for order now and will be showcased at Fiber Connect 2024 in Nashville, July 29-31, 2024.
Clearfield Inc. (NASDAQ: CLFD) is showcasing its BABA-compliant fiber products at Fiber Connect 2024, highlighting solutions that meet federal funding requirements for the $42.45 billion BEAD program. The company has expanded its manufacturing capabilities in Minnesota to accommodate BABA requirements, ensuring customers have access to domestically manufactured products for fiber broadband expansion projects.
Clearfield will demonstrate its ClearPass® Connector Dust Cap and interactive BILT App at the event. The company is also a finalist for two AMPLIFY Awards, with CEO Cheri Beranek nominated in the 'Women Changing Fiber for Good' category and Clearfield nominated in the 'Taking Fiber Further' category.
Clearfield (NASDAQ: CLFD), a leader in community broadband fiber connectivity, has announced its fiscal third quarter 2024 earnings call scheduled for Thursday, August 1, 2024, after market close. The company will host a conference call at 5:00 p.m. Eastern time (4:00 p.m. Central time) to discuss financial results with investors. Financial reports and an earnings presentation will be available on Clearfield's Investor Relations website.
The conference call will be accessible via U.S. dial-in (1-877-407-0792) and International dial-in (1-201-689-8263). A webcast replay will be available, and an audio replay can be accessed until August 15, 2024, using U.S. replay dial-in (1-844-512-2921) or International replay dial-in (1-412-317-6671) with Replay ID: 13747389.
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