Clearfield Reports Third Quarter Fiscal 2024 Results
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) ha riportato i risultati del terzo trimestre fiscale 2024, con entrate di 48,8 milioni di dollari, superiori alle previsioni ma in calo del 20% rispetto all'anno precedente. L'azienda ha registrato una perdita netta di 0,04 dollari per azione, migliore del previsto. Il margine lordo è migliorato al 21,9% rispetto al 7,7% del secondo trimestre, grazie a una maggiore capacità di produzione e a un abbattimento dei costi di magazzino. Il portafoglio ordini si è ridotto a 32,6 milioni di dollari, in calo del 56% rispetto all'anno precedente. Clearfield ha riacquistato azioni per 5,5 milioni di dollari, con 24,9 milioni rimanenti per futuri riacquisti. L'azienda prevede vendite nette per il quarto trimestre fiscale 2024 comprese tra 40 e 43 milioni di dollari e una perdita netta per azione di 0,17-0,22 dollari.
Clearfield Inc. (NASDAQ: CLFD) informó los resultados del tercer trimestre fiscal 2024, con ingresos de 48.8 millones de dólares, superando las proyecciones pero con una caída del 20% interanual. La compañía reportó una pérdida neta de 0.04 dólares por acción, mejor de lo esperado. El margen bruto mejoró al 21.9% desde el 7.7% en el segundo trimestre, impulsado por una mejor capacidad de producción y menores costos de inventario. El backlog de pedidos disminuyó a 32.6 millones de dólares, un 56% menos que el año anterior. Clearfield recompró acciones por 5.5 millones de dólares, quedando 24.9 millones disponibles para futuras recompras. La compañía espera que las ventas netas del cuarto trimestre fiscal 2024 se sitúen entre 40 y 43 millones de dólares y una pérdida neta por acción de 0.17 a 0.22 dólares.
Clearfield Inc. (NASDAQ: CLFD)는 2024 회계연도 3분기 실적을 보고하며 매출이 4880만 달러에 달한다고 발표했습니다. 이는 예상을 초과했지만 전년 동기 대비 20% 감소한 수치입니다. 회사는 주당 0.04달러의 순손실을 기록하여 기대보다 나은 결과를 보였습니다. 총 마진은 2분기 7.7%에서 21.9%로 개선되었으며, 이는 생산능력 향상 및 재고 비용 감소에 따른 것입니다. 주문 잔고는 3260만 달러로 전년 대비 56% 감소했습니다. Clearfield는 550만 달러의 자사주 매입을 완료했으며, 향후 매입을 위해 2490만 달러가 남아 있습니다. 회사는 2024 회계연도 4분기의 순매출이 4000만~4300만 달러 사이가 될 것으로 예상하며, 주당 순손실은 0.17~0.22달러로 예상하고 있습니다.
Clearfield Inc. (NASDAQ: CLFD) a annoncé les résultats du troisième trimestre de l'exercice fiscal 2024, avec un chiffre d'affaires de 48,8 millions de dollars, dépassant les prévisions mais en baisse de 20% par rapport à l'année précédente. L'entreprise a enregistré une perte nette de 0,04 dollar par action, meilleure que prévu. La marge brute s'est améliorée pour atteindre 21,9% contre 7,7% au deuxième trimestre, grâce à une capacité de production accrue et à des coûts de stockage réduits. Le carnet de commandes a diminué à 32,6 millions de dollars, en baisse de 56% par rapport à l'année précédente. Clearfield a racheté des actions pour 5,5 millions de dollars, avec 24,9 millions de dollars restant pour de futurs rachats. L'entreprise prévoit des ventes nettes pour le quatrième trimestre de l'exercice fiscal 2024 comprises entre 40 et 43 millions de dollars et une perte nette par action de 0,17 à 0,22 dollar.
Clearfield Inc. (NASDAQ: CLFD) hat die Ergebnisse des dritten Quartals des Geschäftsjahres 2024 bekannt gegeben, mit Umsätzen von 48,8 Millionen Dollar, die die Prognosen übertreffen, aber im Vergleich zum Vorjahr um 20% zurückgegangen sind. Das Unternehmen verzeichnete einen Nettoverlust von 0,04 Dollar pro Aktie, was besser ist als erwartet. Die Bruttomarge verbesserte sich von 7,7% im zweiten Quartal auf 21,9%, bedingt durch eine höhere Produktionskapazität und geringere Lagerkosten. Der Auftragsbestand verringerte sich auf 32,6 Millionen Dollar, was einem Rückgang von 56% im Vergleich zum Vorjahr entspricht. Clearfield hat Aktien im Wert von 5,5 Millionen Dollar zurückgekauft, wobei noch 24,9 Millionen Dollar für zukünftige Rückkäufe zur Verfügung stehen. Das Unternehmen erwartet, dass der Nettoumsatz im vierten Quartal 2024 zwischen 40 und 43 Millionen Dollar liegen wird, mit einem Nettoverlust pro Aktie von 0,17 bis 0,22 Dollar.
- Revenue of $48.8 million exceeded guidance
- Gross margin improved to 21.9% from 7.7% in Q2
- Strong sales in International and Community Broadband markets
- $5.5 million in share buybacks completed
- $24.9 million remaining for future share repurchases
- Revenue decreased 20% year-over-year
- Net loss of $0.04 per share compared to $0.33 profit last year
- Order backlog decreased 56% year-over-year to $32.6 million
- Operating expenses increased to 26.6% of net sales from 21.9% last year
- Forecasted Q4 net loss per share between $0.17 to $0.22
Insights
Clearfield's Q3 2024 results present a mixed picture. While the company exceeded its guidance, there are significant challenges evident in the financials. Revenue decreased by
The company's shift to a net loss position is concerning, with a net loss of
On a positive note, Clearfield's focus on labor-saving products like the FieldSmart and FieldShield lines could provide a competitive edge as customers prioritize efficiency. The company's efforts to meet Build America Buy America Act requirements by fiscal year-end may position it well for future government-funded projects, although significant revenue from the BEAD Program isn't expected until late 2025.
The reduction in backlog to
Clearfield's share repurchase program, with
Clearfield's Q3 results reflect broader trends in the fiber optics industry, which is currently in a state of gradual recovery. The company's performance in the Community Broadband and International markets shows resilience, but the overall decline in revenue and profitability warrants closer examination.
The order backlog decrease of
- Seasonal fluctuations as broadband service providers adjust their winter operations
- Market saturation in certain areas
- Potential shifts in customer spending patterns
However, Clearfield's focus on labor-saving products aligns well with industry trends towards cost-efficiency and faster deployment. This strategic positioning could help the company capture market share as the industry recovers.
The anticipated delay in significant revenue from the BEAD Program until late 2025 presents both a challenge and an opportunity. While it may prolong the recovery period, it also gives Clearfield time to fully align its product offerings with BABA requirements, potentially positioning the company as a preferred supplier when funding is released.
Clearfield's efforts to secure multi-year supply agreements with key customers is a smart move that could provide more stable revenue streams and better visibility for investors. This approach, combined with the company's share repurchase program, suggests management's confidence in Clearfield's long-term prospects despite current headwinds.
As the fiber optics industry continues its recovery, Clearfield's performance in the coming quarters will be important in determining its ability to capitalize on the eventual upturn in market demand.
- Revenue of
$48.8 million and net loss per share of$(0.04) exceeded guidance
- Outperformance driven by strong sales in International and Community Broadband markets
- Share buy-backs totaled
$5.5 million with$25 million remaining available for repurchases
MINNEAPOLIS, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Clearfield, Inc. (NASDAQ: CLFD), a leader in fiber connectivity, reported results for the fiscal third quarter 2024.
| Fiscal Q3 2024 Financial Summary | |||||||||||||||
| (in millions except per share data and percentages) | Q3 2024 | vs. Q3 2023 | Change | Change (%) | |||||||||||
| Net Sales | $ | 48.8 | $ | 61.3 | $ | (12.5 | ) | -20 | % | ||||||
| Gross Profit ($) | $ | 10.7 | $ | 19.1 | $ | (8.4 | ) | -44 | % | ||||||
| Gross Profit (%) | 21.9 | % | 31.1 | % | - | -30 | % | ||||||||
| Income (Loss) from Operations | $ | (2.3 | ) | $ | 5.6 | $ | (7.9 | ) | -141 | % | |||||
| Income Tax Expense (Benefit) | $ | (0.3 | ) | $ | 1.8 | $ | (2.1 | ) | -115 | % | |||||
| Net Income (Loss) | $ | (0.4 | ) | $ | 5.2 | $ | (5.7 | ) | -109 | % | |||||
| Net Income (Loss) per Diluted Share | $ | (0.04 | ) | $ | 0.33 | $ | (0.37 | ) | -112 | % | |||||
| Fiscal Q3 YTD 2024 Financial Summary | |||||||||||||||
| (in millions except per share data and percentages) | 2024 YTD | vs. 2023 YTD | Change | Change (%) | |||||||||||
| Net Sales | $ | 119.9 | $ | 219.0 | $ | (99.1 | ) | -45 | % | ||||||
| Gross Profit ($) | $ | 18.2 | $ | 73.3 | $ | (55.1 | ) | -75 | % | ||||||
| Gross Profit (%) | 15.2 | % | 33.5 | % | - | -55 | % | ||||||||
| Income (Loss) from Operations | $ | (20.2 | ) | $ | 35.6 | $ | (55.8 | ) | -157 | % | |||||
| Income Tax Expense (Benefit) | $ | (3.3 | ) | $ | 8.5 | $ | (11.8 | ) | -139 | % | |||||
| Net Income (Loss) | $ | (11.6 | ) | $ | 29.8 | $ | (41.5 | ) | -139 | % | |||||
| Net Income (Loss) per Diluted Share | $ | (0.79 | ) | $ | 2.00 | $ | (2.79 | ) | -140 | % | |||||
Management Commentary
“We are exceptionally pleased with our performance this past quarter. Community Broadband numbers are on par with last year, mainly due to a higher percentage of our business coming from customers connecting the homes that they have previously passed. Clearfield has long been known for the labor-saving potential of our FieldSmart line of fiber management cabinets and panels. Moving forward, these labor-saving benefits are also being recognized with our FieldShield line for connecting homes and businesses,” said Company President and Chief Executive Officer, Cheri Beranek. “As we continue to navigate this gradual industry-wide recovery, we are diligently working to not only service our existing customers but to also attract customers both new to fiber and those looking to transition their spend to an alternative carrier. We remain committed to meeting the Build America Buy America (“BABA”) Act requirements across our product lines by fiscal year-end. However, significant Broadband Equity, Access, and Deployment (“BEAD”) Program revenue is not expected until late calendar 2025 due to milestones inherent within the national program,” said Beranek.
"Gross margins improved due to better capacity utilization, and lower inventory reserve costs, leading to a notable improvement in bottom-line performance," said Chief Financial Officer Dan Herzog. "As we transition out of the build season, we anticipated the reduction in backlog as broadband service providers realign orders for winter operations and year-end planning. We are actively working with certain key customers to put in place multi-year supply agreements that will provide better visibility going forward. We remain confident in our business and our ability to gain market share. During the third quarter we also repurchased
Financial Results for the Three Months Ended June 30, 2024
Net sales for the third quarter of fiscal 2024 decreased
As of June 30, 2024, order backlog (defined as purchase orders received but not yet fulfilled) was
Gross margin for the third quarter of fiscal 2024 was
Operating expenses for the third quarter of fiscal 2024 decreased
Net loss for the third quarter of fiscal 2024 totaled
Outlook
At this time and after considering the expected impacts of seasonality and the current state of the industry, the Company expects net sales for the fourth quarter of fiscal 2024 to be in the range of
Conference Call
Management will hold a conference call today, August 1, 2024, at 5:00 p.m. Eastern Time (4:00 p.m. Central Time) to discuss these results and provide an update on business conditions.
Clearfield’s President and Chief Executive Officer, Cheri Beranek, and Chief Financial Officer, Dan Herzog, will host the presentation, followed by a question-and-answer period.
U.S. dial-in: 1-877-407-0792
International dial-in: 1-201-689-8263
Conference ID: 13747389
The live webcast of the call can be accessed at the Clearfield Investor Relations website along with the company's earnings press release and presentation.
A replay of the call will be available after 8:00 p.m. Eastern Time on the same day through August 15, 2024, while an archived version of the webcast will be available on the Investor Relations website for 90 days.
U.S. replay dial-in: 1-844-512-2921
International replay dial-in: 1-412-317-6671
Replay ID: 13747389
About Clearfield, Inc.
Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures, and distributes fiber optic management, protection, and delivery products for communications networks. Our “fiber to anywhere” platform serves the unique requirements of leading incumbent local exchange carriers (traditional carriers), competitive local exchange carriers (alternative carriers), and MSO/cable TV companies, while also catering to the broadband needs of the utility/municipality, enterprise, and data center markets. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.
Cautionary Statement Regarding Forward-Looking Information
Forward-looking statements contained herein and in any related presentation or in the related Earnings Presentation are made pursuant to the safe harbor provisions of the Private Litigation Reform Act of 1995. Words such as “may,” “plan,” “expect,” “aim,” “believe,” “project,” “target,” “anticipate,” “intend,” “estimate,” “will,” “should,” “could,” “outlook,” or “continue” or comparable terminology are intended to identify forward-looking statements. Such forward looking statements include, for example, statements about the Company’s future revenue and operating performance, expected customer ordering patterns and future supply agreements with customers, anticipated shipping on backlog and future lead times, future availability of components and materials from the Company’s supply chain, compliance with Build America Buy America (“BABA”) Act requirements, future availability of labor impacting our customers’ network builds, the impact of the Broadband Equity, Access, and Deployment (BEAD) Program, Rural Digital Opportunity Fund (RDOF) or other government programs on the demand for the Company’s products or timing of customer orders, the Company’s ability to match capacity to meet demand, expansion into new markets and trends in and growth of the FTTx markets, market segments or customer purchases and other statements that are not historical facts. 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: inflationary price pressures and uncertain availability of components, raw materials, labor and logistics used by us and our suppliers could negatively impact our profitability; we rely on single-source suppliers, which could cause delays, increase costs or prevent us from completing customer orders; we depend on the availability of sufficient supply of certain materials and global disruptions in the supply chain for these materials could prevent us from meeting customer demand for our products; a significant percentage of our sales in the last three fiscal years have been made to a small number of customers, and the loss of these major customers could adversely affect us; further consolidation among our customers may result in the loss of some customers and may reduce sales during the pendency of business combinations and related integration activities; we may be subject to risks associated with acquisitions, and the risks could adversely affect future operating results; we have exposure to movements in foreign currency exchange rates; adverse global economic conditions and geopolitical issues could have a negative effect on our business, and results of operations and financial condition; growth may strain our business infrastructure, which could adversely affect our operations and financial condition; product defects or the failure of our products to meet specifications could cause us to lose customers and sales or to incur unexpected expenses; we are dependent on key personnel; cyber-security incidents, including ransomware, data breaches or computer viruses, could disrupt our business operations, damage our reputation, result in increased expense, and potentially lead to legal proceedings; our business is dependent on interdependent management information systems; natural disasters, extreme weather conditions or other catastrophic events could negatively affect our business, financial condition, and operating results; pandemics and other health crises, including COVID-19, could have a material adverse effect on our business, financial condition, and operating results; to compete effectively, we must continually improve existing products and introduce new products that achieve market acceptance; if the telecommunications market does not continue to expand, our business may not grow as fast as we expect, which could adversely impact our business, financial condition and operating results; changes in U.S. government funding programs may cause our customers and prospective customers to delay, reduce, or accelerate purchases, leading to unpredictable and irregular purchase cycles; intense competition in our industry may result in price reductions, lower gross profits and loss of market share; our success depends upon adequate protection of our patent and intellectual property rights; we face risks associated with expanding our sales outside of the United States; expectations relating to environmental, social and governance matters may increase our cost of doing business and expose us to reputational harm and potential liability; our operating results may fluctuate significantly from quarter to quarter, which may make budgeting for expenses difficult and may negatively affect the market price of our common stock; our stock price has been volatile historically and may continue to be volatile - the price of our common stock may fluctuate significantly; anti-takeover provisions in our organizational documents, Minnesota law and other agreements could prevent or delay a change in control of our Company; and other factors set forth in Part I, Item IA. Risk Factors of Clearfield's Annual Report on Form 10-K for the year ended September 30, 2023 as well as other filings with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements to reflect actual events unless required by law.
Investor Relations Contact:
Greg McNiff
The Blueshirt Group
773-485-7191
clearfield@blueshirtgroup.com
| CLEARFIELD, INC. | |||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| (IN THOUSANDS, EXCEPT SHARE DATA) | |||||||
| (Unaudited) | |||||||
| June 30, | September 30, | ||||||
| 2024 | 2023 | ||||||
| Assets | |||||||
| Current Assets | |||||||
| Cash and cash equivalents | $ | 25,624 | $ | 37,827 | |||
| Short-term investments | 98,195 | 130,286 | |||||
| Accounts receivable, net | 27,636 | 28,392 | |||||
| Inventories, net | 74,869 | 98,055 | |||||
| Other current assets | 9,878 | 1,695 | |||||
| Total current assets | 236,202 | 296,255 | |||||
| Property, plant and equipment, net | 21,487 | 21,527 | |||||
| Other Assets | |||||||
| Long-term investments | 24,180 | 6,343 | |||||
| Goodwill | 6,553 | 6,528 | |||||
| Intangible assets, net | 6,399 | 6,092 | |||||
| Right of use lease assets | 15,938 | 13,861 | |||||
| Deferred tax asset | 5,514 | 3,039 | |||||
| Other | 1,822 | 1,872 | |||||
| Total other assets | 60,406 | 37,735 | |||||
| Total Assets | $ | 318,095 | $ | 355,517 | |||
| Liabilities and Shareholders’ Equity | |||||||
| Current Liabilities | |||||||
| Current portion of lease liability | $ | 3,225 | $ | 3,737 | |||
| Current maturities of long-term debt | - | 2,112 | |||||
| Accounts payable | 9,049 | 8,891 | |||||
| Accrued compensation | 7,153 | 5,571 | |||||
| Accrued expenses | 3,029 | 2,404 | |||||
| Factoring liability | 5,714 | 6,289 | |||||
| Total current liabilities | 28,170 | 29,004 | |||||
| Other Liabilities | |||||||
| Long-term debt, net of current maturities | 2,142 | - | |||||
| Long-term portion of lease liability | 13,142 | 10,629 | |||||
| Deferred tax liability | 67 | 721 | |||||
| Total Liabilities | 43,521 | 40,354 | |||||
| Shareholders’ Equity | |||||||
| Common stock | 142 | 153 | |||||
| Additional paid-in capital | 158,627 | 188,218 | |||||
| Accumulated other comprehensive income (loss) | 15 | (544) | |||||
| Retained earnings | 115,790 | 127,336 | |||||
| Total Shareholders’ Equity | 274,574 | 315,163 | |||||
| Total Liabilities and Shareholders’ Equity | $ | 318,095 | $ | 355,517 | |||
| CLEARFIELD, INC. | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| (UNAUDITED) | |||||||||||||||
| (IN THOUSANDS, EXCEPT SHARE DATA) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| June 30, | June 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Net sales | $ | 48,793 | $ | 61,284 | $ | 119,933 | $ | 219,035 | |||||||
| Cost of sales | 38,101 | 42,210 | 101,712 | 145,750 | |||||||||||
| Gross profit | 10,692 | 19,074 | 18,221 | 73,285 | |||||||||||
| Operating expenses | |||||||||||||||
| Selling, general and | |||||||||||||||
| administrative | 12,998 | 13,449 | 38,430 | 37,714 | |||||||||||
| (Loss) Income from operations | (2,306 | ) | 5,625 | (20,209 | ) | 35,571 | |||||||||
| Net investment income | 1,735 | 1,630 | 5,653 | 3,328 | |||||||||||
| Interest expense | (153 | ) | (195 | ) | (381 | ) | (551 | ) | |||||||
| (Loss) Income before income taxes | (724 | ) | 7,060 | (14,937 | ) | 38,348 | |||||||||
| Income tax (benefit) expense | (277 | ) | 1,842 | (3,311 | ) | 8,511 | |||||||||
| Net (loss) income | $ | (447 | ) | $ | 5,218 | $ | (11,626 | ) | $ | 29,837 | |||||
| Net (loss) income per share: | |||||||||||||||
| Basic | $ | (0.04 | ) | $ | 0.33 | $ | (0.79 | ) | $ | 2.01 | |||||
| Diluted | $ | (0.04 | ) | $ | 0.33 | $ | (0.79 | ) | $ | 2.00 | |||||
| Weighted average shares outstanding: | |||||||||||||||
| Basic | 14,249,755 | 15,254,341 | 14,699,278 | 14,880,666 | |||||||||||
| Diluted | 14,249,755 | 15,254,341 | 14,699,278 | 14,929,405 | |||||||||||
| CLEARFIELD, INC. | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| (UNAUDITED) | |||||||
| (IN THOUSANDS) | Nine Months Ended | Nine Months Ended | |||||
| June 30, | June 30, | ||||||
| 2024 | 2023 | ||||||
| Cash flows from operating activities | |||||||
| Net (loss) income | $ | (11,626 | ) | $ | 29,837 | ||
| Adjustments to reconcile net (loss) income to cash provided by (used in) operating activities: | |||||||
| Depreciation and amortization | 5,481 | 4,411 | |||||
| Amortization of discount on investments | (3,304 | ) | (2,429 | ) | |||
| Deferred income taxes | (3,523 | ) | (102 | ) | |||
| Stock-based compensation | 3,437 | 2,504 | |||||
| Changes in operating assets and liabilities | |||||||
| Accounts receivable | 946 | 24,519 | |||||
| Inventories, net | 23,440 | (21,510 | ) | ||||
| Other assets | (8,030 | ) | (3,423 | ) | |||
| Accounts payable and accrued expenses | 1,643 | (20,326 | ) | ||||
| Net cash provided by operating activities | 8,464 | 13,481 | |||||
| Cash flows from investing activities: | |||||||
| Purchases of property, plant and equipment and intangible assets | (5,608 | ) | (6,529 | ) | |||
| Purchases of investments | (124,137 | ) | (210,923 | ) | |||
| Proceeds from maturities of investments | 142,067 | 105,077 | |||||
| Net cash provided by (used in) investing activities | 12,321 | (112,375 | ) | ||||
| Cash flows from financing activities: | |||||||
| Issuance of long-term debt | 2,142 | - | |||||
| Repayment of long-term debt | (2,142 | ) | (16,700 | ) | |||
| Proceeds from issuance of common stock under employee stock purchase plan | 586 | 612 | |||||
| Repurchase of shares for payment of withholding taxes for vested restricted stock grants | (240 | ) | (954 | ) | |||
| Tax withholding and proceeds related to exercise of stock options | (9 | ) | (493 | ) | |||
| Issuance of stock under equity compensation plans | - | 954 | |||||
| Net proceeds from issuance of common stock | - | 130,262 | |||||
| Repurchase of common stock | (33,374 | ) | - | ||||
| Net cash (used in) provided by financing activities | (33,036 | ) | 113,681 | ||||
| Effect of exchange rates on cash | 48 | (52 | ) | ||||
| (Decrease) increase in cash and cash equivalents | (12,203 | ) | 14,735 | ||||
| Cash and cash equivalents, beginning of period | 37,827 | 16,650 | |||||
| Cash and cash equivalents, end of period | $ | 25,624 | $ | 31,385 | |||
| Supplemental disclosures for cash flow information | |||||||
| Cash paid for income taxes | $ | 165 | $ | 12,589 | |||
| Cash paid for interest | $ | 302 | $ | 360 | |||
| Right of use assets obtained through leased liabilities | $ | 4,614 | $ | 3,776 | |||
| Non-cash financing activities | |||||||
| Cashless exercise of stock options | $ | 19 | $ | 566 | |||
FAQ
What was Clearfield's revenue for Q3 fiscal 2024?
How did Clearfield's Q3 2024 earnings per share (EPS) compare to the previous year?
What is Clearfield's (CLFD) order backlog as of June 30, 2024?
How much did Clearfield (CLFD) spend on share repurchases in Q3 2024?
What is Clearfield's (CLFD) revenue guidance for Q4 fiscal 2024?
