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.
About Clearfield, Inc.
Clearfield, Inc. (NASDAQ: CLFD) is a leading provider of innovative fiber optic management, protection, and delivery solutions for communication networks. Headquartered in Minneapolis, Minnesota, Clearfield designs and manufactures products that enable efficient and cost-effective fiber deployment for a wide range of applications, including broadband, telecommunications, data centers, and municipal networks. The company’s solutions serve the unique needs of incumbent local exchange carriers (ILECs), competitive local exchange carriers (CLECs), multiple system operators (MSOs), and utility providers.
Core Products and Solutions
Clearfield’s product portfolio is centered around its proprietary platforms, including FieldSmart®, CraftSmart®, and Clearview® Cassette systems. These solutions are designed to streamline fiber deployment and management, reducing costs and labor requirements while ensuring high performance and reliability.
- FieldSmart® Fiber Management Platform: The only fiber management system built around a single architecture, FieldSmart supports a wide range of configurations, from 1 to 1,728 ports. It is adaptable for inside plant, outside plant, and access network environments, offering scalability and flexibility for network operators.
- CraftSmart® OSP Enclosure System: A field enclosure system optimized for fiber deployment, CraftSmart provides robust protection for outdoor fiber installations, ensuring durability and reliability in diverse environmental conditions.
- Clearview® Cassette: A modular and scalable fiber management solution that simplifies network expansion by standardizing components across different deployment scenarios.
- FiberDeep® Patch Cords: Engineered to deliver industry-leading performance with an insertion loss of just 0.2 dB, FiberDeep ensures superior signal quality and reliability.
Market Position and Competitive Landscape
Clearfield operates in the rapidly growing fiber optic industry, driven by increasing demand for high-speed broadband connectivity and government-backed initiatives like the Broadband Equity, Access, and Deployment (BEAD) program. The company has positioned itself as a key enabler of fiber-to-the-home (FTTH) and fiber-to-the-premises (FTTP) deployments, particularly in underserved rural areas. By focusing on modular, scalable solutions that reduce deployment costs and labor requirements, Clearfield differentiates itself from larger competitors like Corning and CommScope.
Strategic Advantages
Clearfield’s strategic advantages include its innovative product design, dual manufacturing capabilities in the U.S. and Mexico, and compliance with regulations like the Build America Buy America (BABA) Act. These factors enable the company to meet the needs of both domestic and international markets while mitigating supply chain risks. Additionally, Clearfield’s focus on customer-centric solutions, such as its "fiber to anywhere" platform, ensures adaptability across various network architectures and market segments.
Industry Impact and Future Outlook
As broadband adoption continues to accelerate, Clearfield is well-positioned to capitalize on the growing demand for fiber optic infrastructure. The company’s commitment to innovation, cost efficiency, and regulatory compliance makes it a trusted partner for network operators looking to expand their capabilities. With a strong focus on rural broadband expansion and a robust product portfolio, Clearfield is poised to play a significant role in shaping the future of global connectivity.
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.
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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