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 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.
Clearfield (NASDAQ:CLFD) announced that Kevin Morgan, its Chief Marketing Officer, has been recognized as a Notable Chief Marketing Officer for 2024 by Twin Cities Business. Morgan was honored for his significant contributions to the fiber broadband industry, particularly in rural communities. He has been with Clearfield since 2016 and has helped establish it as a leader in fiber connectivity and management. Morgan played a pivotal role in securing over $100 billion in federal funding for broadband from 2020-2030. He is also a recognized expert who frequently speaks at industry events and conferences.
Clearfield, Inc. (NASDAQ: CLFD) reported second-quarter 2024 results with revenue of $36.9 million, above the high end of guidance, and a net loss per share of $(0.40). The backlog increased sequentially, driven by strength in Community Broadband. The Board of Directors authorized a share repurchase program increase from $40 million to $65 million.
Clearfield, Inc. (CLFD) will participate in the Needham Technology, Media, & Consumer Conference on May 14, 2024, in New York City. The President and CEO, Cheri Beranek, along with the CFO, Dan Herzog, will present at 9:30 a.m. Eastern time. A webcast and replay of the presentation will be available.
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